Can the outstanding balance be show as a minus figure when the client has a prepayment in their account? Showing as zero can be misleading.
The statement balance relates to the invoice balance so if there are no outstanding invoices then the statement will show as £0 The pre-payments will still show on the statement but aren’t taken into account for the total balance
Hi, yes I understand what is happening, but my customers do not like it, I was wondering if it would be possible to have even an extra line showing Account balance in credit.
But if you had say 3 invoices at £10 each, 2 of which were paid and there was a £10 prepayment what should the balance be?
Zero of course. I would have no issue which this, if anything it would be a helpful reminder to allocate the prepayment.
But the balance wouldn’t be zero though. If we for instance had an invoice in dispute we wouldn’t have payment assigned to it and the balance wouldn’t be zero.
I guess this is one of those things that you’d need to look into very carefully as it seems on the surface to be simple and obvious but it isn’t. I think more helpful would be a note and maybe a clearer prepayment balance, both of which you could do with the custom CSS I believe.
If an invoice was in dispute and had a prepayment the balance would be zero until the dispute was either left as is or credited. I can’t see the problem but I am not an accountant just a user lol.
In my mind the statement of account balance should be exactly that, a balance of the whole financial account.
I agree with you Diane. I was a Financial Director and our accounting software produced statements that were a list of unpaid invoices any unallocated cash, prepayments, credit notes and a total of these at the bottom.
I really like using Quickfike, it’s brilliant in so many areas but I find the Statements very complicated to read.
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It’s also worth noting that we do have an alternative format for statements, which can be enabled in the advanced features. This mirrors more of the payment list showing how payments are allocated (or not).