Customer Statements (Transactions) — Complete User Guide — Two Accounts Web

Comprehensive guide for generating, analysing, and understanding the Customer Statements (Transactions) report — a per-customer statement showing all transactions affecting Accounts Receivable with running balance

Table of Contents

1. What Is the Customer Statements (Transactions) Report?
   • Purpose and Structure
   • vs Aged Receivables
2. Enabling from the Customize Menu
3. Field-by-Field Guide
   • Report Header Fields
4. Settings Configuration
   • Customers
   • Email Template for Customer Statements
5. Creating a Customer Statement Report
6. How the Customer Statement Is Calculated
   • Transaction Loading
   • Opening Balance Calculation
   • Period Transactions
   • Running Balance
   • Transaction Type Descriptions
   • Statement Currency
7. Drill-Down Capabilities
8. Sample Data and Report Output
   • Sample Setup
   • Customer Statement Output
   • Verification of Calculation
9. Common Issues and Solutions
10. Accounting Regulation Compliance

1. What Is the Customer Statements (Transactions) Report?

The Customer Statements (Transactions) report generates a detailed statement for each customer showing every transaction that affects their Accounts Receivable balance over a specified period. It includes an opening balance, all invoices, receipts, credit notes, and journal entries — with a running balance after each transaction.

This is the report to use when sending monthly statements to customers or when a customer requests a detailed breakdown of their account activity.

1.1 Purpose and Structure

The report shows for a single customer:

• Opening Balance — the outstanding balance carried into the period
• Invoices — sales invoices issued during the period (shown in Debit column)
• Receipts — payments received from the customer (shown in Credit column)
• Credit Notes — credits issued to the customer (shown in Credit column)
• Journal Entries — manual adjustments to the customer's AR (shown in Debit or Credit)
• Running Balance — cumulative balance after each transaction, shown as Dr or Cr
• Closing Balance — the outstanding balance at the end of the period
• Totals — total debits, total credits, opening balance, and closing balance

1.2 vs Aged Receivables

2. Enabling from the Customize Menu

The Customer Statements (Transactions) report appears under:

• Reports → Customers → Customer Statements (Transactions)

The report is only visible when the Customers tab is enabled in Customize Menu. No additional toggle is needed.

3. Field-by-Field Guide

3.1 Report Header Fields

Location: Reports → Customers → Customer Statements (Transactions) → New Report

4. Settings Configuration

4.1 Customers

Location: Settings → Customers

Customer records store the contact information, billing address, email, currency, and control account assignment. The statement is generated per customer from this record. Key fields used in the statement:

• Name — appears as the statement recipient name
• Billing Address — appears as the statement recipient address
• Email — used when sending the statement via email
• Code — optional customer reference number
• Currency — the statement amounts are shown in the customer's currency

4.2 Email Template for Customer Statements

Location: Settings → Email Templates → Customer Statement

The email template for customer statements can be customised with the subject line and message body. When emailing a statement from the report, this template is used.

5. Creating a Customer Statement Report

1. Go to Reports → Customers → Customer Statements (Transactions)
2. Click New Report
3. Enter the From Date (period start)
4. Choose the To Date — Today or Custom
5. If Custom, select the Custom Date
6. Optionally select a Theme
7. Click Save
8. The report generates a list of all customers. Click View next to any customer to see their statement

6. How the Customer Statement Is Calculated

6.1 Transaction Loading

The system loads all General Ledger transactions up to the statement end date where:

• The GL account is an Accounts Receivable account
• The transaction's customer matches the selected customer
• The date is on or before the statement end date

Transactions are ordered by date, with debit entries shown before credit entries on the same date.

6.2 Opening Balance Calculation

Opening Balance = Sum of (account currency amount)
    for ALL transactions where:
    • Date is BEFORE the statement From Date
    OR the entry is an Opening Balance Entry (regardless of date)

If the opening balance is non-zero, it is shown as the first row of the statement with the oldest opening balance entry date.

6.3 Period Transactions

All transactions with a date on or after the From Date and not flagged as opening balance entries are shown individually. Each transaction appears as a row with:

• Date — the transaction date
• Description — the transaction type and reference (e.g. "Invoice #1001", "Receipt 3", "Credit Note #2001")
• Debit — positive amounts (invoices, debit adjustments)
• Credit — negative amounts shown as positive (payments, credit notes)
• Balance — running balance after this transaction

6.4 Running Balance

Running Balance = Opening Balance + Sum of all transaction amounts
    for transactions up to and including this row

The running balance starts at the opening balance (if any) and accumulates each transaction in order. The balance is displayed with "Dr" (debit = customer owes) or "Cr" (credit = overpayment).

6.5 Transaction Type Descriptions

6.6 Statement Currency

All amounts on the statement are shown in the customer's currency using the account currency amount. If the customer has no currency assigned (base currency customer), amounts are shown in the business's base currency. The statement header shows the total debits, total credits, opening balance, and closing balance below the transaction table.

7. Drill-Down Capabilities

Each statement can be emailed directly to the customer using the configured email template. The view also supports:

8. Sample Data and Report Output

8.1 Sample Setup

Customer A has the following transactions affecting their Accounts Receivable during January 2026:

Opening Balance (1 January 2026)

Transactions During January 2026

8.2 Customer Statement Output

Customer Statement — Customer A
ABC Trading
123 Business Road
contact@abctrading.com

Statement Period: 1-Jan-2026 to 31-Jan-2026

                                                   Debit     Credit    Balance
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
1-Jan-2026  Opening Balance                                               50,000 Dr  ¹

5-Jan-2026  Invoice #1001 — Consulting Services       115,000             165,000 Dr  ²
10-Jan-2026 Receipt 3 — Payment for Dec invoice                 50,000    115,000 Dr  ³
15-Jan-2026 Invoice #1002 — Software License — Q1     230,000             345,000 Dr  ⁴
20-Jan-2026 Invoice #2001 — Credit for returned goods          11,500    333,500 Dr  ⁵
25-Jan-2026 Receipt 4 — Payment for Invoice #1001              100,000    233,500 Dr  ⁶
28-Jan-2026 Adjustment for FX difference                2,000             235,500 Dr  ⁷
                                                      ───────   ───────   ─────────
Opening Balance:                                                            50,000 Dr
Total Debits:                                       347,000
Total Credits:                                                161,500
Closing Balance:                                                       235,500 Dr  ⁸

Notes:

1. Opening Balance: 50,000 Dr — the outstanding balance before the statement period. This is the sum of all pre-period transactions and opening balance entries.
2. Invoice #1001 (5-Jan): Debit 115,000 (100,000 net + 15,000 VAT). Running balance: 50,000 + 115,000 = 165,000 Dr.
3. Receipt 3 (10-Jan): Credit 50,000 — payment received. Running balance: 165,000 − 50,000 = 115,000 Dr.
4. Invoice #1002 (15-Jan): Debit 230,000 (200,000 net + 30,000 VAT). Running balance: 115,000 + 230,000 = 345,000 Dr.
5. Credit Note (20-Jan): Credit 11,500 (10,000 net + 1,500 VAT reversal). Running balance: 345,000 − 11,500 = 333,500 Dr.
6. Receipt 4 (25-Jan): Credit 100,000 — payment received. Running balance: 333,500 − 100,000 = 233,500 Dr.
7. JE Adjustment (28-Jan): Debit 2,000 — FX adjustment. Running balance: 233,500 + 2,000 = 235,500 Dr.
8. Closing Balance: 235,500 Dr = 50,000 (OB) + 347,000 (debits) − 161,500 (credits) ✓.

8.3 Verification of Calculation

OPENING BALANCE:
  Pre-period transactions + OB entries:          50,000 Dr ✓

DEBITS (Amount > 0 — increases AR):
  Invoice #1001:        115,000
  Invoice #1002:        230,000
  JE FX Adjustment:       2,000
  Total Debits:         347,000 ✓

CREDITS (Amount < 0, shown as positive — decreases AR):
  Receipt 3:             50,000
  Credit Note:           11,500
  Receipt 4:            100,000
  Total Credits:        161,500 ✓

CLOSING BALANCE:
  Opening:                50,000 Dr
  + Total Debits:        +347,000
  − Total Credits:       −161,500
  = Closing:             235,500 Dr ✓

RUNNING BALANCE VERIFICATION:
  After opening:         50,000 Dr ✓
  After Invoice #1001:  165,000 Dr ✓ (50,000 + 115,000)
  After Receipt 3:      115,000 Dr ✓ (165,000 − 50,000)
  After Invoice #1002:  345,000 Dr ✓ (115,000 + 230,000)
  After Credit Note:    333,500 Dr ✓ (345,000 − 11,500)
  After Receipt 4:      233,500 Dr ✓ (333,500 − 100,000)
  After JE Adjustment:  235,500 Dr ✓ (233,500 + 2,000)

DR = CR VERIFICATION (underlying transactions):
  Opening Balance entry:   Dr AR 50,000 / Cr RE 50,000 ✓
  Invoice #1001:           Dr AR 115,000 / Cr Revenue 100,000 + Cr Tax 15,000 ✓
  Receipt 3:               Dr Cash 50,000 / Cr AR 50,000 ✓
  Invoice #1002:           Dr AR 230,000 / Cr Revenue 200,000 + Cr Tax 30,000 ✓
  Credit Note:             Dr Revenue 10,000 + Dr Tax 1,500 / Cr AR 11,500 ✓
  Receipt 4:               Dr Cash 100,000 / Cr AR 100,000 ✓
  JE FX Adjustment:        Dr AR 2,000 / Cr Currency Gain 2,000 ✓

  Statement closing balance: 235,500 Dr = GL AR balance ✓

9. Common Issues and Solutions

9.1 Statement Shows No Transactions

Cause: No transactions affecting Accounts Receivable exist for this customer within the selected date range at the time the statement was generated.

Solution: Broaden the date range. Verify that the customer has invoices or receipts in the period. Check that the customer is correctly selected.

9.2 Opening Balance Does Not Match Prior Statement

Cause: Transactions were posted with dates before the statement From Date after the prior statement was generated, or opening balance entries were modified.

Solution: The opening balance is dynamically calculated from all pre-period transactions. If transactions were added or corrected after the prior statement, the opening balance will differ. This is correct behaviour — the statement always reflects the current state of all transactions.

9.3 Statement Shows Credit Balance

Cause: The customer has overpaid — total payments and credit notes exceed total invoices. The running balance shows "Cr" instead of "Dr".

Solution: This is correct. A credit balance means the customer has a credit with the business. Issue a refund or apply the credit to future invoices.

9.4 Description Shows Incomplete Text

Cause: The description is built from the transaction's reference, title, and any description text. If the original transaction was created without a description, only the transaction type and reference are shown.

Solution: Add descriptions to transactions at the time of creation for more informative statements. Existing transactions can be edited to add descriptions where needed.

9.5 Transaction Does Not Appear

Cause: The transaction may not be linked to the customer's Accounts Receivable account. This can happen if a control account was changed after the transaction was created, or if the transaction type does not affect AR.

Solution: Check that the transaction's GL account is an Accounts Receivable account. Receipts and payments only appear if they affect AR (not if they are direct to income/expense).

9.6 Foreign Currency Customer Shows Wrong Amounts

Cause: The statement shows amounts in the customer's currency using the account currency amount. If exchange rates changed between transactions, amounts may appear different from the base currency view.

Solution: This is correct — the statement always shows the customer's currency. The account currency amount reflects the amount in the customer's currency at the transaction date exchange rate.

9.7 Statement Cannot Be Emailed

Cause: The customer may not have an email address set, or the email template may not be configured.

Solution: Verify the customer's email address in Settings → Customers. Configure the email template in Settings → Email Templates → Customer Statement.

10. Accounting Regulation Compliance

10.1 IAS 1 — Presentation of Financial Statements

10.2 IFRS 9 — Financial Instruments

10.3 DR = CR Verification

Sample Data Verification:

  Opening Balance:                            50,000 Dr
  + Total Debits:                           347,000 Dr
  − Total Credits:                          161,500 Cr
  = Closing Balance:                        235,500 Dr ✓

  Running balance verified after each transaction ✓
  Closing balance matches GL AR balance ✓

  Each underlying transaction DR = CR ✓

End of Customer Statements (Transactions) Guide