Monday, 23 January 2012

Customer statements in Sage 50 Accounts and Sage Instant Accounts

For businesses offering credit to customers, the monthly statement run is an important job not to miss. It's easy to run Statements within Sage Accounts, and in newer versions you can email them, saving on postage. Here's some basic information on how Customer Statements work within Sage Instant and Sage 50 Accounts:
Ageing of debts: the statement layouts use the payment terms set up within the Ageing tab of the Customer Defaults screen (found within the Settings drop-down menu) to decide which debts fall into which ageing period. You can select to age by calendar month, or by period. The period option allows you to override the standard 0-30, 30-60, etc ageing with your own 'formula'.
Which layout to choose: There's a wide choice of Statement layouts, here's how to choose which is best for you:
  1. Paper type: If you plan to use the statement stationery provided by Sage (and others), with a perforation down the middle allowing the customer to send one part back with their payment then select one of the layouts labelled 'with tear-off remittance'. If you are planning to use A4 paper (your letterhead, for example) then the best option would be an email statement as these layouts are set up to show the information over the whole of a page.
  2. Paper size: Use the layouts at the top of the list starting  "11 inch...." if you are using a dot matrix printer and 11 inch paper. All other layouts will fit the standard A4 paper size.
  3. Amount of transaction history and detail to include: The final part of the statement title tells us what type of transactional information will be included on the statement. Here's an overview of those options:
    • Grouped: One line for an invoice, even if the invoice was made up of many item lines. This saves space and will work for most customers as they can refer to the original invoice to view the detail.
    • Individual: Every item on a multi-line invoice, making the statement much longer, but necessary for some businesses.
    • O/S only: Only shows transactions that have not been paid / allocated. A sales invoices will show as outstanding when it has not been paid. If you have not allocated payment to an invoice, then the payment  (PA) will show on the statement. This also applies to credit notes which have not been allocated to an invoice as the customer has not yet used it.
    • All Items: All customer transactions for the date range you select, including paid invoices, payments, credit notes, etc. Any unpaid invoice will have an * next to them. A brought forward balance will appear at the top of the statement totalling the transactions prior to the "From" date chosen on the report Criteria screen.
When running a statement batch you receive a message saying 'Do you want to update the communiation history?' If you answer 'Yes' then a new line will appear on the customer's Communications tab showing that a statement was sent. A great way of keeping track of your statement history!

Finally, there are many ways that statements can be amended to make them fit your business requirements, and that's where a business partner like Numeric Solutions can help to make them work better for you.

Numeric Solutions offers Sage training, installation, and help to ensure that your Sage installation is set up appropriately so that you get the most out of it.

We cover West Sussex, East Sussex and Hampshire.


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