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Statement of Accounts

The Statement of Accounts report in Fiskl provides a comprehensive summary of financial transactions between your business and your customers. This versatile report can be generated from multiple locations within Fiskl.

Why is the Statement of Accounts report important?

The Statement of Accounts report is essential because it:

  • Summarizes all financial transactions with a specific client
  • Helps track outstanding balances and payment history
  • Supports effective accounts receivable management
  • Aids in assessing customer creditworthiness
  • Helps clearly communicate with clients about their financial standing
  • Some businesses request a statement of accounts periodically or before settling any invoices

Key Components of the Statement of Accounts Report​

Understanding the main elements of your Statement of Accounts can help you better manage your client relationships and cash flow:

  1. Invoice records: Detailed list of sales transactions, including dates, descriptions, and amounts
  2. Payment records: Information about payments received from the client
  3. Outstanding balances: Any unpaid amounts owed by the client
  4. Accounts Receivables: Any non-invoice accounts receivable amounts
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Fiskl's Statement of Accounts report uniquely breaks down the Opening and Closing balance into individual currency amounts if you deal with your client in multiple currency payments. It also separates each section into their respective currency amounts (e.g., Invoices in USD, Invoices in EUR).

Generating a Statement of Accounts Report in Fiskl​

You can create a Statement of Accounts report from three different locations in Fiskl:

  1. From the invoice list when filtering by client
  2. From the client page
  3. From Accounting > Reports in the left menu

To generate and customize your Statement of Accounts report:

  1. Navigate to one of the above locations and select "Statement of Accounts"
  2. Choose the client for whom you want to generate the report
  3. Set your desired time period using the date selector or preset options
  4. Customize your report using the available options:
    • Select specific currencies to display
    • Include or exclude Accounts Receivable (AR) transactions
    • Add notes for your client

Customizing Your Report View​

Fiskl offers several options to tailor the report to your needs:

  • Client selection: Choose the specific client for the report
  • Date range: Set the time period for which you want to see transactions
  • Currency display: Choose to show transactions in one, multiple, or all currencies
  • AR transactions: Toggle to include or exclude Accounts Receivable transactions
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Invoices that have been fully or partially reconciled will display a special icon next to the invoice number.

Viewing Your Statement of Accounts Report​

There are two views for your statement of accounts report:

  1. Fiskl dashboard view: In this view, if you select the invoices or the AR transactions, you will navigate to the respective transactions
  2. Customer view: This is the view if you send the PDF report to your client. In this view, if they select an invoice, they are taken to the payment page flow where they can view the invoice and any payments made or outstanding, and download the invoice and receipts

Adding Notes to your Report​

To provide additional context or messages for your client:

  1. Select the notes icon at the top of the report
  2. Add your comments or explanations
  3. These notes will be included when you export or print the report

Sharing your Statement of Accounts Report​

Fiskl makes it easy to share the Statement of Accounts with your clients:

  1. Create a PDF:
    • Select the print icon at the top right of the screen
    • This generates a PDF with direct links to the client invoices
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Sending a Statement of Accounts to your clients periodically can help maintain transparency and potentially improve payment timeliness.

Remember, the Statement of Accounts report is a powerful tool for managing your client relationships and ensuring healthy cash flow. Regular review and sharing of these reports can help you stay on top of your accounts receivable and maintain clear financial communication with your clients.