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Create A Billing Statement In QuickBooks

Creating Statement Charges in QuickBooks

Depending on what kind of business you have, you almost certainly have a preferred way of billing customers. If they walk into your shop and present a credit card or cash, you create sales receipts. If they order off your site, they might receive a digital receipt. Or your arrangement may be so that you send out invoices.

There’s another way that’s especially useful if for example the customers are responsible for paying recurring charges, like an ongoing service contract that’s billed monthly. You can easily enter those financial obligations directly as statement charges. If you want to know about How To Create A Billing Statement In QuickBooks then get in touch with our experts.

Everbody knows, QuickBooks can create statements, summaries of a customer’s activity. These are generated automatically through the invoices, receipts, payments, along with other transactions you’ve recorded over a given time period. But are you aware you can easily manually add charges to statements? Here’s how it works.

Creating a Statement Charge
QuickBooks Desktop Statement Charges
Click on the Statement Charges icon in the home page or open the shoppers menu and choose Enter Statement Charges. Your Accounts Receivable register appears. Open the list in the field close to Customer:Job by clicking on the down arrow and select the most suitable Customer:Job.

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Important Note: If the item would be attached to a certain job, not only an individual, make sure you pick the correct job. QuickBooks maintains a different sign up for each.

Change the date if necessary and open the Item list (or click <Add New> if you haven’t created a product record yet). Find the one you want and enter a quantity (Qty). QuickBooks should fill in the rate and description. The TYPE column will automatically contain STMTCH (statement charge). Click Record when you’re done. Next time you create a statement for that Customer:Job, you’ll look at transaction you merely entered.

Consider creating a statement charge as opposed to an invoice for recurring transactions that'll not be billed immediately.
Consider creating a statement charge in the place of an invoice for recurring transactions that will not be billed immediately.

Statement Charge Limitations
Before you decide to use statement charges, take into account that:

You can’t include some information that would show up on an invoice, like sales tax and discounts.

Just because your charge pertains to hours you struggled to obtain the customer, QuickBooks will not open a reminder window containing that information the very next time you create an invoice for the customer. You’d have to Enter Time by creating an individual activity or entering the hours on a timesheet.

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You still have to bill the customers.

Billing the Customer
There are two main techniques to bill customers for statement charges. You are able to, of course, just generate statements that include the date(s) associated with the charge(s). The very next time you create a statement for customers that have manually-entered statement charges, it will probably contain them, along with any other activity like invoices and payments. We’ve covered statements before, but we’d be pleased to look at this QuickBooks feature to you. This means you’ll need to enter a statement charge each month if it is to be a recurring one. Instead, you can treat them as memorized transactions, so they’re automatically entered when you look at the register. If you’re billing multiple customers for the same service on a monthly basis, for instance, this would work nicely.

First, you’ll need certainly to create an organization which contains all those customers. Open the Lists menu and select Memorized Transaction List. Right-click anywhere on that screen and then click on New Group. This box will open.

If you regularly bill customers for similar service, like a monthly subscription, it is possible to create a    Group    and memorize the transactions.
In the event that you regularly bill customers for the same service, like a monthly subscription, you can create a Group and memorize the transactions.

Give your Group a Name and click the button in front of Automate Transaction Entry. Open the list in the field next to How Often and select the billing interval. Select the Next Date to point when this group billing has to start. In the event that charges ought to be entered on a limited basis, go into the Number Remaining. And make certain to fill out the Days In Advance To Enter if that’s applicable. Click OK.

Next, you’ll assign the shoppers who must be billed monthly to your Group. Click Statement Charges from the home page again to open up your A/R register. Select each customer one at the same time and right-click on the statement charge that you would like to recur monthly, then select Memorize Stmt Charge. When you look at the window that opens, give the transaction a unique Name if you’d like (this may not affect the transaction, only how it’s listed). Click on the button right in front of Add to Group and select the Group name from the drop-down list. Repeat for every customer you need to include.

Keeping Track
If periodic statements are much of your customer billing method, this technique should work fine. However, if in addition, you send invoices and/or collect payment during the time of the sale, you’ll need certainly to keep in mind that your statement charges must certanly be billed on a consistent basis, too. We can go over your customer billing procedures to you to find out whether you’re using QuickBooks’ tools wisely – or whether some changes could enhance your number of payments.

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