 QuickBooks Online 2024 statement form. Get ready and some trail mix because we're hiking on QuickBooks Online, our audit trail to success. Here we are online in our browser, searching for QuickBooks Online test drive, looking for the result that has Intuit.com in the URL, Intuit being the owner of QuickBooks, selecting the United States version of the software and verifying that we're not a robot. Opening our major financial statement reports like we do every time, reports on the left hand side. And then in our favorites, we're gonna be right clicking on the balance sheet so I can open it in a new tab. We're gonna right click on the profit and loss, same thing, open link in new tab. Up top, looking at the middle tab, now closing the hamburger on the left, there's our balance sheet report. Tabbing to the right, closing the hamburger on the left, there's our profit and loss or income statement report. Back to the first tab, that's the setup process that we do every time. We're gonna do the data input in the first tab, look at the results of that data input to the tabs to the right. Selecting the dropdown, we've been looking at the cycles, customer cycle, vendor cycle. We jumped over here to the other area, which isn't actually a cycle, but these are the forms that don't fit neatly into the other cycles and therefore are being placed over here by QuickBooks. So now we wanna look at the statement form, which is in this other section. So the statement form is a little bit different than what we've seen with other forms because most other forms, like the ones in the cycles and in this other section, invoices, received payment, expense form, check form, and so on. Those usually enter transactions into the financial statements. These are the area that we typically go for normal data input processes, same with the bank deposit, the transfer form, those enter transactions. The statement doesn't actually enter a transaction, however, but I think they housed it here because the idea most likely would be that if you're on an accrual system, you're gonna be wanting to send out payments to try to collect on the accounts receivable. Therefore, this process is gonna happen enough that you would want it here in the other forms. So note that the statement form would only be used generally, usually, if you're on a accrual type system because in the accrual type system, that's when we send out the invoice and we have to track the accounts receivable, hopefully get paid on it and then record the received payment. That time period when the invoice is out and we're looking to get paid is when we might be sending out statements and reminders to try to collect on that money. So just to get an idea of that, let's go to the sales tab on the left-hand side, which is kind of like the customer center. Let's go into the customers up top and if I close up the hamburger, let's close up the hamburger, we can see that some of the customers might be owing us money. So we might go up top and search on our filters and say I wanna look for the open invoices and credits. So if I go into that, now we have this nice little link that shows that some of these customers owe us money or from either one or possibly multiple invoices. Now, if I go into a particular customer, if I go into this customer and I'm saying, hey, look, I need to collect on a particular invoice. So I might say, okay, this one's overdue. If I hit the dropdown here, we could send a reminder, right? So we might give a reminder. Now, notice that that's gonna be, so we could try to like resend the invoice or send a reminder. So here's our reminder looks like this and we can populate it from an email. We can typically send it out in an email. And so that's great. But if I'm doing that for every customer, that can be somewhat tedious. You would think that we can automate this process because all of the outstanding invoices, I would want to send out reminders for possibly periodically, possibly every month or so, right? So we can try to automate the process. Plus some of these like this customer has two outstanding invoices. So the question that the thing there would be, well, I would like to send out some kind of form possibly that will give them the information about both of those that are outstanding instead of sending out two emails to try to collect on. I wanna send out one statement generally that has both of them included trying to hopefully get the full payment for everything they owe me for the two invoices, right? So if I go back to the customers over here, one way we can think about doing that is you might say, okay, I'm gonna go to all of my open invoices. So here's all the customers that have the open amounts and we could select them. So I might populate all of them this way. And if I have a nice clean setup, everything's set up properly, then all of them would be needing a reminder that have these open invoices. And then possibly I can use my batch action here and then say I wanna create statements. So then if I open that, then it's gonna go to my batch action into my statement area. And now we're within our statements and all of these customers have been pulled in to create a statement with. Now, the other way we can do that, of course, if I close this back out is I'm gonna say, do you wanna leave? I say yes, it's even easier than that. We don't have to do the batch action anymore. I don't have to filter over here or do the batch action. I could just simply go to the hamburger, go to the plus button and I can go to my statements here instead. And so if I go to my statements here, then again, we get to the same window. So let's analyze the different statements. We've got the three types up top. We've got the balance forward, open items, transaction statement. Normally you'd probably be doing the balance forward because the statements you would think would be used most likely on an accrual based system to try to collect on the accounts receivable. So the balance forward, I believe the name is trying to tell you that when you look at the date range down here, the beginning date, any invoices that were entered prior to the beginning date will be entered as a balance forward. It's not gonna give the detail, in other words, of the invoice. And then everything that's within this range should then be populated, giving you a little bit more detail about the invoice that it's referring to. So that's the general idea. Now the statement date, we'll keep it here at the 1230-23 in our practice mode, which is usually gonna be, of course, the current day that you're running the statements. And then on the customer balance status, we could look at all of our customers and apply, you have to apply every time or else it doesn't do it. So but all of our customers might not have open amounts. So normally you would go to the open items, right? And apply them out because that's who you wanna send the statements to. However, possibly you just wanna send out statements to the overdue balances. In other words, when you look at an invoice, we...