Invoice/Statement Basics

Generating statements is when Collect! performs its magic for you. In reality there is no magic, just simple mathematics. The system looks at last month's statements, adds balance due from your client, then calculates any debtor payments and fees that you have posted. Collect! notes whether the payments were received by you, or by your client. Commissions, calculated when you posted the transaction, will be separated accordingly during the generating process to benefit you or your client. Fees collected and marked for you will be added to your benefit. Fees collected for your client will be slated for your client's benefit. Finally, payments received from your clients are deducted and Collect! produces the current amount owing, to indicate whether you owe funds to your client or your client owes you.

Collect! can create either Net or Gross type statements for you, depending on your client settings. With a few basic rules applied, Collect! can even handle a Net/Gross combination for calculating statements.

Another important note, the calculated invoice/statement that Collect! creates should always report the exact amount you expect the statement balance to be. When you print your statements, the finished output can be controlled by the report writer. To start with, use the sample invoice/statements that Collect! generates and prints, knowing that you may modify the look and feel of the printed statement to satisfy your own needs.

Even though you may not need to produce statements for clients, you may find that generating and printing statements gives you valuable financial data about your accounts. Your particular setup and requirements will help you decide the best policy to use when generating and printing statements.

Invoice/Statement form

Accessing Invoice Statement

The Invoice/Statement form may be accessed in many ways. Providing you have access to the various menus and forms, you can use one of the following ways to get to the Invoice/Statement form.

1. Using the menu bar at the top of Collect!, select Browse to display the drop-down menu. Select Statements from this menu and the list of existing invoice/statements will appear. Select any invoice/statement in the list to display the Invoice/Statement form.

2. Or, you may gain access to Invoice/Statements from the Main Menu. Select the Month End button to display the Month End menu. Select the button labeled Browse Statements to display the list of existing invoice/statements. Select any invoice/statement in the list to display the Invoice/Statement form.

3. Another method to gain access to the Invoice/Statement for one particular client is to open the Client form. Select the Invoices tab to display the list of existing invoice/statements for the active client. Select any invoice/statement in the list to display the Invoice/Statement form.

See Also

- Invoice/Statement