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In QuickBooks Pro 2010 Essential Training, author Bonnie Biafore shows how to most efficiently use this popular business accounting software to manage business finances. The course covers core QuickBooks features that business owners need to know, from recording typical bookkeeping transactions like bills and invoices, to reconciling accounts and managing company files. Exercise files accompany the course.
The statements you generate in QuickBooks are like a summary of everything that's happened in a customer's account since the last statement. Just like a bank or credit card statement, one you generate starts with the previous balance, then shows new charges and payments, and finally the ending balance that a customer still owes. You can also record new charges for the customer called statement charges without putting them on an invoice. You do not create statement charges in a form the way you do with an invoice. You create them directly in the Accounts Receivable register.
To create a statement charge, on the homepage, click Statement Charges. You will see that the Accounts Receivable dialog box opens. In the Customer:Job list, select the customer you want to create a statement charge for, DIY Construction in this case. The Accounts Receivable register shows all the transactions for that customer, and the effect on the customer's balance. For example, invoices, which have a type INV, increase what the customer owes, while payments with a type PMT decrease the balance.
The register also shows the status of transactions. The Due Date field says Paid if an invoice is already paid. But it shows the due date if the invoice isn't paid. When you create a statement, QuickBooks grabs these transactions along with any statement charges you create. To create a statement charge, click the Date cell for the first blank row in the register and type the date for the charge. Or you can choose it from the calendar. 01/25/2010 in this example.
Because you define a date range for a statement, QuickBooks pulls only transactions within the date range onto the statement. In the Item dropdown list, choose the item for the charge. The Item list contains only Services, Inventory, Non-inventory, and Other Charge items. I will choose Cleanup in this example. QuickBooks changes the Transaction Type to Statement Charge to show that you are creating a statement charge. Fill in the Quantity cell with the quantity for the item you are adding, say two.
Just like on an invoice, QuickBooks multiplies the quantity by the rate to calculate the total charge. Click Record to save the charge or you can just press Enter. To add another statement charge, move to the next blank row and repeat these steps. If you want to add billable time and costs as statement charges in the toolbar, click Time/Costs. The Choose Billable Time and Costs dialog box that you learned about earlier in this chapter opens up. You can select the billable items you want to add, as you learned in that video, and then click OK.
Because you record each statement charge as you complete it, you do not have to save anything else. When you are done entering statement charges, you can close the Accounts Receivable window or simply move on to your next task.
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