The difference between the closing balance and the total due in the customer account, and how to tell a credit balance from a debit balance.
Path in Qoyod
Sales › Customers › View
What you see on the customer page
- Closing Balance: the final amount required to be paid by the customer. It includes sales invoices, credit notes, customer receipts, and manual entries added to the customer account.
- Total Due: the accumulated amount on the customer from sales invoices only, and receipts and notes allocated only to the invoices.
- Overdue Invoices: the outstanding amounts that have not been paid after the due date added in the invoice. See Loading and Extracting Unpaid Customer Invoices Through Account Statements.
- Account Status (Debit or Credit): customer accounts are normally debit. If the customer’s balance appears in parentheses ( ), this indicates that the balance is credit. See Understanding Customer Account Balances: What Credit and Debit Balances Mean.
Notes
- Make sure to regularly monitor the customer statement to understand financial transactions and clarify balance details. See The Difference Between Account Statements and Customer Account Statement Reports.
- Use the Customers report to easily identify the overdue balance status and outstanding amounts.
