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AR Statements

Hello to all,

I have been working with MD SL for about a year now. I took over for someone who used to handle the AR side.

If customer needs a statement I will send him a customer trial balance. I always thought that for someone who is not familiar with MS Dynamics, it is a little hard to read...

I noticed there is an option for a statement under "Reports" but it appears I need to close a statement cycle first.

No one in my company ever did this, so I do not know what effect, if at all, it will have on other reports or modules, and as I learned the hard way, Solomon is not very forgiven... so I am afraid to try.

I send to my customers weekly invoices

Hope someone can give me some tips.

Closing the statement cycle is a step to prepare statements. What it does depends on whether the customer is set up for a balance forward type statement or an open item type statement.

For balance forward statements, the close statement cycle rounds up all open documents that have been handled by a previous close of a statement cycle (with a prior close date) summing up the net amount and making that the beginning balance. It also marks the new documents (open or closed) as being a member of this statement cycle close date so that they do not appear on subsequent statements as new items.

For open item statements, the close statement cycle does not have to calculate a beginning balance but it does mark the new documents as being a member of this statement cycle date.

So, if you have never closed a statement cycle and the customer is set for a balance forward statement, the first statement will have a 0.00 beginning balance and all the documents, opened or closed will show on that statement. Subsequent statements will only show new documents that were not on a previous statement and previous documents with a balance will be part of the beginning balance. If the customer is set up for open item statements then the first statement after the close date will show only documents that still have a balance. However, and I am not certain about this, it may also show closed documents that have never been on a prior statement. I am not sure because I have never tried starting statements like this long after documents have been produced. To test what will happen you could create a new statement cycle id and temporarily change one customer to that new statement cycle, close the statement cycle for that new statement cycle only and print a statement for just that customer. Just do not forget to change that customer back to the normal statement cycle when you are done.

One big caution: if you are using a balance forward statement presentation then care needs to be taken when closing the statement cycle because each close on a new date relegates documents that appeared on the prior close date to be part of the balance forward amount and not to show as new items. So, for example, if you close the statement cycle today and realize that you have not entered some invoices or payments and do not enter those until tomorrow and close the statement cycle again, the documents that were on today's statements will not show as new documents on tomorrow's statements but will be, rather, included in the beginning balance. There is a way to work around this situation but that is for another response.

Bottom line: the very first time you close the statement cycle and print statements you may not get exactly what you want because you have not been doing this process but things should be fine after that. You may want to close the statement cycle just to get things caught up with no intent of sending out statements from that close and plan on printing statements from the subsequent closes. Also, given that you have not been printing statements, I would suggest that the open item presentation may be your better choice since a balance forward amount (which should tie to the balance on the prior statement) has no real meaning in your case.

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