 QuickBooks Online Statement Form. Get ready to start moving on up with QuickBooks Online. Here we are in Google Search Engine. We're gonna be using the free QuickBooks Online Test Drive. Typing in QuickBooks Online Test Drive to the search engine. Selecting the option that has Intuit.com within the URL. Intuit being the owner of QuickBooks. We're selecting the United States version of the software and verifying we're not a robot. Zooming in a bit, holding down control up on the scroll wheel. We're currently at one to five percent on the zoom in. Hitting the drop down for the cog, noting that we're in the accountant view, not the business view. We'll try to toggle back and forth between the two so you can see where things are located within them. Right-clicking on the tab up top to put reports in as we do every time. Duplicating the tab. Right-clipping the duplicated tab to duplicate it again. Back to the tab to the left selecting the reports and we want to be picking the balance sheet as that's thinking. We'll tab to the right reports on the left this time the profit and loss or income statement. We're gonna close the hamburger or hamburger and scroll up top and do the range change selecting the first range and I'm gonna go from 010122 January 1st 2022 to 123122 December 31st 2022. Tab run it to refresh it and then tab to the left and scroll up close the hand boogie and then do the range change from 010122 to 123122 and run it to refresh it and then first tab that's the setup process we do every time. Support accounting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. 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We're gonna hit the plus button noting that all of these forms are the things that we put into the system in order to make in essence the journal entries on a day to day process we break out these processes in essence by cycle customer cycle the vendor cycle the employee cycle we've been looking over here into the other the fact that they're over here in other and not included in one of these cycles means that they're not either part of the normal cycle they're a little bit they're gonna be something a little bit outside of it or possibly they have certain transactions such as the bank deposit that aren't specifically in one particular cycle such as the customer cycle because you might have deposits for things like you putting money in as the owner or alone now we're looking at the statements now which is a little funny that they put over here but I think they put it in this section because it's a process that you're gonna be often doing if you have an accrual based system on the customer side of things even though the statement is it really a form so I would almost think that they would put the statements over here under the customer cycle because you would think the statements are generally going to be something that would be under the customer cycle but they're not really a form so maybe that's why they put them over here in the other so that the statements are only going to be used they're kind of linked to the customer cycle if you're in the full service cycle meaning you're generally going to be issuing invoices and then tracking the accounts receivable and then trying to get the receive payment on it in that instance then you're gonna want to periodically go back and and try to collect on the receivables that are outstanding so you could do that by reissued by by issuing the invoice again and but you might make statements because the statements could possibly condense multiple transactions that are in place to to to create a statement for reminders so the general process would look something like this we're gonna make an invoice let's make a couple invoices and then we'll think about constructing basically statements from them so let's say I'm gonna make an invoice and let's say that it's gonna be for an AA I'm just gonna make the customer so we can kind of think about how these statements would work and then you would need an email address if you're going to email the statements which is quite common as well as if you're emailing the invoice I'm not gonna put one here now however and then I'm gonna go down and let's just let's just make up a couple invoices so we're gonna say service item let's say we had that was for a thousand dollars let's say and then I'll put another one down here let's go for a pump the good old pumps that we've been we sell a lot of those I don't even know what they do but whatever so there they are one thousand two hundred forty what's this gonna do it's gonna increase accounts receivable that's what we're focused on the other side's gonna go to revenue sales tax and if there's any inventory goes down and cost to good sold will be impacted now let's make this this one like like it was due a while ago so let's say this was on let's say this was on 10 15 to two something like that so it was due 11 14 so it's gonna be past due as of the time we're we're doing this let's go ahead and save and new and I'll say save a new and make another one for a something's not quite right what what is it date that's often so we want the date to be it's an inventory tracking item okay so I can't choose this one because I need to track the inventory so let's just delete that one I should be good with the service item and so now we'll just bring it down to a thousand and save and new because I didn't have any inventory before that point in time so I'm gonna say save and new and that's good okay so now I'll make another one for a and let's say this one and let's say that this is gonna be another service item let's say gardening and let's say this was for 1500 so there's just to make it different and let's say this one happened on 11 11 one tab tab and so we'll save that save the new and let's make one more and so we'll say this is gonna be another one for AA so we've got the outstanding invoices we haven't collected on and let's make this one as of 12 25 22 just to change it up switch things up I should have the pumps in at that time so I can choose to pump this time without it giving me an error let's say it's 30 so 450 so let's do that the total is 486 so these should all increase the accounts receivable so I'm gonna say save and close this time save it and close it and then of course we might track that so there's an impact on the financial statements which of course is mainly we're focusing in on the accounts receivable if I run this the accounts receivables going up and that's what we would expect and now we're awaiting the payment but and that's all we're looking at notice from an accounting standpoint for just building the financial statements we're basically saying there there's the transaction what I expect to happen next is to receive the payment but from it and there's the other ones were dated prior to this so I'm not gonna locate but there's one I think and there's one so I'm gonna go back I also want to sort this data out by who owes us the money and obviously from an internal perspective our goal is to get paid on it right so if I go to the first tab now I can go down to the sales area and we can track those invoices here so I can say here are my invoices I can look for the open invoices and so now we've got a AA here and we have a couple more for a AA for example and I can go to my invoices and do a similar kind of tracking if I'm looking at that particular customer let's go to the customer tab and look at a AA and so now we have these three invoices now the things that we could do with these I obviously I could select these invoices and basically send a reminder saying hey you owe me this but if I had for this particular customer they they have three outstanding invoices right so if I if I send them a reminder I'll have to send them you know the three reminders possibly for these three separate invoices now of course it could be quite tedious if I had to go into each individual customer and send out the open invoices and reminders on an invoice by invoice basis if I have a lot of customers and they all have a lot of open invoices possibly that I need to try to track so we would like to then come up with a system that we can send out periodic reminders most likely by email because most of the time these days we have the email addresses of the clients so one one way you can think of that is if we go back to the customers I'm gonna do that by going to the customers tab here and you could say let's look at the customers and see all of them that have open invoices so I can sort them thusly and so now I've got this one we've had three open invoices one open invoice two open invoices here for this particular customer so you would think how can I just send them a statement to basically collect on these items to give them a reminder well you might select all of them and then hit the batch here and then we could say we want to basically create statements or you could just go directly up top to here and then go to the statements by default it basically selects kind of like all all the statements so if I go into the statements this way in other words notice that this first one doesn't have an email address that's why it's listed on the left-hand side so that could cause us a problem clearly if we're sending the statements out by email and then but we could also print them out as well so you've got the two tabs here you've got the missing email and this one are all the other basically items so let's just take a look at it real quick you've got the statement types so you have a couple different statement types that you can take a look at we'll try to kind of toggle between them so you could get a little bit of a difference between this statement types you've got the statement date which is typically going to be the state that you're doing this and then you've got the drop-down to have all so these are going to be all of all of them or you could be picking the open items which is let's go let's do this all apply so now with all you've got the missing ones and then the statements that have the email address on this side and then if I pick just the open which is most likely what you're going to do most of the time again you've got the missing email and then all the rest of them that have open invoices and then you could just be saying overdue so maybe you do just to overdo ones periodically and so these are the ones that have overdue items so usually if you're doing this every couple weeks to try to collect on your receivables you might go to open and then try to batch this all into the open items then we have the start date and the end date so the start date means basically that's going to be the cutoff we're not going to have a lot of detail for the information before that time so if there are open invoices as we do have some for a a a before that point we may not have them listed but they'll just be included in like the opening balance and then we have the end date here so let's see what that looks like and then we'll change it so I'm going to say print preview let's check it out if you want to check that one out just for the a a a item so you can see you have this beginning balance here and then you've got this line item for invoice 1040 on the 486 so there is that one now if I change that if I close that out and I change my beginning date let's make it from January 01 so it goes for the full year now and apply it I'm looking just for the open items let's look at a a a and print that one and we can just see that one here so now we've got those three invoices that are listed out here that way be in the beginning balance is zero because there were no open invoices before the beginning of the year so let's close that out and let's just take a quick look at the other kinds of reports so if I go to the this is the balance forward report if I look at the open item last 365 days so now it's saying you know specifically within 365 days and apply it let's take a look at this one and run it and so now we've got our items listed out this where this way amount open amount and so on and kind of a running balance so you could take a look and choose which format you think is best if I look at it on this side and look at all these other ones we can send out all of these at the same time because we have the email addresses for them and print them and take a look at those so here we have a a a a and here's the format for some of them and you can see how they're all basically listed out here and so I'm going to close that one out and then just check the last format transaction statement let's run it and let's just pick the statement available for all of them and print that one and check it out so there we have so it's a little bit different format of it so we've got the invoices laid out and the total down below on this one so notice this one gives a bit of detail on the information in it so a little more detail on the items that are involved so do you want just a long line item and if you have a really like long invoice then then it could be somewhat tedious if you're including all the information or line items on the invoice so you got to think about how much detail do you want in the statement so for example if I close this out and I close this out and I go into one of my invoices for for a a a and let's just add a few more line items I got in trouble adding multiple line items because it had inventory issues but whatever this time I'm gonna say service item so let's add three line items here and save and close that and now let's just take a look at the difference on the statement so if I then go up to the plus button up top and go into the statements and so now I look at the transaction statement let's print that one just looking at a a a here and so hold on I got to change the date range let's bring the beginning balance from 0 1 0 1 apply it and then print it and so there we have this one's just giving you the line items notice it's not giving you that detail of each of the description in it and then if I go to this one and apply it and run the report let's check that one out so it just gives you the due so it gives you that due amount but it's not really giving you the detail of each of the line items I'm gonna apply this one and run it so so it's not really giving you each of the line items so these are gonna be great like summary statements you can choose which format that you want on it if they ask more questions about it then of course you could follow up with that and say okay you want the detail with it then we can basically send out the reminder here on a particular invoice if I send a reminder out it should give you it should give basically the detail on it and then you've got your message basically on the reminder most of the time you'll be emailing them out so you'll have basically that information up top so the general idea on the statements is of course going to be if you're in a system where you send out the invoices you've got to collect on the invoices periodically possibly every two weeks or so we're gonna want to send out reminders to the open invoices that are out there possibly monthly or something like that and so we want to do that usually in bulk would be the easiest thing with the statements the statements will possibly be able to condense multiple outstanding items into the statement and you could choose whether you want to roll the balance over or not or show all the all the detail in terms of multiple line items depending on the date range and then you want to do that periodically and then you could also give them more detail by giving them reminders of a particular invoice which hopefully will give them the more detail about particular line items on an invoice or if they called in and they said hey you gave me the statement I've got these invoice line items I don't know exactly what you charged me for and so on then you might want to give them the invoice again it's like well I gave you the invoice didn't you find the invoice so that's and you can get into the statements here or you can go into the customer field and I could select all the customers which is probably intuitively the thing that would make kind of sense and then you can select your statements over here at the bottom you can cancel you can print or preview and then you've got the save and send which is the most likely format meaning you're gonna email it out to the people alright let's close this out do you want to leave without saving I do and then I'm gonna open up the hamburger I'm gonna hit the cog and just take a look at these same formats on the business view just to see where we're located on the business view so you could find all this stuff notice of course the plus button let's go back to the home page plus button same location no difference there there's the statements we've been working basically in the get paid pay area so if I go into that area and then the customers and the get paid then we've been looking here and there's your open invoices there's a a a we also took a quick look at the invoices on the left hand side and then we looked at the items or the transactions that's in a different location under bookkeeping and then transactions and we looked at the items which are the sales items and we were sorting here and then we also looked at the reports so everything's everything's there it's just in a different location reports are on the business overview and then the reports you want to be able to kind of navigate around try not to get frustrated with QuickBooks moving things around or changing the entire layout all of a sudden it's okay because it's all the same it's just housed in a different place typically