Statement Generation

Task/Problem Overview

This document explains what all the figures mean in a statement so that they can be interpreted correctly.

Invoice Due Categories

• We first calculate a due date based on the invoice date and the terms assigned to the invoice. Based on that due date and the statement date chosen when generating the statement, we organize the invoice balances into categories, or buckets, which are displayed at the bottom.

• Here is how the figures in the buckets are calculated. If the statement date and the invoice due date are the same, the invoice balance would be added to the Current category. For example, the statement date and the invoice due date are both the first of the month. If the invoice date is between 1 and 30 days later than the statement date, then the invoice balance would be placed in the 1-30 days category, since it would be within those number of days past due. The same logic is applied for the 31-60 days and 61-90 days categories. Anything that is over 90 days past due is placed in the final category.

Discount Amount

• When generating the discount available, the sum of all available discounts is calculated, based on the statement date and the discount date of the individual invoices. In regards to the if paid by date, the first invoice due date is used across all invoices, with respect to the statement date. For example, let’s say a customer has ten invoices with NET 30 terms, all of which are due between 5 and 30 days from the statement date. The discount if paid by date will display 5 days from the statement date, since the entire discount amount will only be available if all invoices that are due in 5 days are paid.

Discount Setting

• Under Administration > Sites > Accounting Settings, you will find a setting allowing you to ignore statement discounts expiring in so many days.

• This is useful when mailing paper statements. Since there is a delay between the time it is mailed and when the customer receives it, it is possible that an available discount will expire within this timeframe. You can set the number of days to account for this so that a larger discount than what is truly available will not be displayed to the customer.

AR Aging Summary and Detail

• The aging buckets on the statement will directly match the AR Aging Summary and Detail reports run for the same day as the statement date.

Invoice Aging by Invoice Date Vs Due Date

• Please refer to Invoicing Aging by Invoice Date vs Due Date. Savance allows you to change the Invoice Aging and Statements based on Due Date or Invoice Date.

Statement Generation

Please refer to Limit View in Queued Documents - KB and Limit View in Dispatch Viewer - KB to limit the view in the Queued Documents and Dispatch Viewer to Statements run by User.