Which Statement Style Is Best for Me?

When providing account statements to your customers, there are a few different styles that come standard with FlexiBake. Each style presents the account information differently, and this article will break down the main features of each so that you can find your favourite.

Non-Aged Statement Style

This style is the best for reviewing account activity: all transactions conducted in the selected date range are listed in chronological order, and the full amount of the transaction is listed as appropriate in either the Charges or Credits Columns. These amounts are then added to a running total of the customer's balance, allowing them to see the evolution of their account over the selected period.

• Statement Date: This is the date stamped in top right of the statement, generally the date the statement was issued.

• From Date: Only transactions conducted after this date will be displayed. Transactions from before this date with an outstanding balance are tallied into the Previous Balance that starts off the running total of the account's balance

• To Date: This is the cutoff for transactions to be considered, which applies to the transaction date rather than its due date.

Open Txs Statement Style

This style is great if your customers are only interested transactions contributing to their balance, such as unpaid invoices, unclaimed credits and partially applied payments. 

• Statement Date: This is the date stamped in top right of the statement, generally the date the statement was issued.

• From Date: The from date is not considered for this style. If there are open transactions which fall before this date, they will still be included on the statement.

• To Date: Open transactions after this date are not included. 

Aged Statement Style

This style is great for detail: a combination of the Open Transactions and Non-Aged styles, your customer can see all open transactions contributing to their account balance, as well as their full account activity during the specified To-From period.

Invoices, unapplied credits and unapplied payments are listed chronologically by date created, along with the original amount of the transaction and the balance remaining. Applied credits and payments are grouped underneath the invoice they were applied to for maximum traceability. At the end of the statement, the open balances are grouped into aging 'buckets' or date-ranges so that your customer can see the state of their account with you.

• Statement Date: Date stamped in top right will reflect this date. We recommend this being the date of issue for the statement.

• From Date: This statement will list all transactions created after this date. Open (non-zero balance) transactions preceding this date will also be listed, so your customer can see what transactions are contributing to their balance, and when they're from.

• To Date: No invoices made after this date will be listed, even if they have open balances. Payments made after this date will be included if applied to an open invoice, or one created in the specified range. This date is the one used to calculate the aging on open balances.

Consolidated Statements

Each of the above styles is also available as a similar consolidated invoice style for your master accounts. Consolidated invoices will appear under the name of the master account, but will divide transactions into the accounts they are associated with. So, under each sub account, you will see their invoices, payments and credits. If bulk credits or payments are made under the master, each sub account will reflect the amount applied to them and the master master account will reflect any unapplied amount. If unapplied payments or credits are made out directly to a subaccount, these will appear only under the sub account in question.