The Difference Between Account Statements and Customer Account Statement Reports

The Difference Between Account Statement and Customer Account Statement Report

The difference between the two reports is due to the objective and content.
Each report is designed to serve a different need.

First: The Financial Data Displayed

Account Statement

• Displays the complete balance for the customer

• Includes the opening balance

• Covers all transactions without exception

Customer Account Statement Report

• When specifying a time period:

  • Displays only the transactions during the period

• When no time period is specified:

  • Displays the complete balance like the Account Statement

Second: The Type of Transactions That Appear

Account Statement

Includes all accounting transactions, such as:

• Manual journal entries

• Receipts and payment vouchers

• Sales invoices

• Credit notes

Customer Account Statement Report

Displays only:

• Sales invoices

• Receipts

• Credit notes

Does not display manual journal entries

Third: Additional Details

Customer Account Statement Report displays additional details such as:

• Payment method

• Project associated with the invoice

• Due date

Account Statement

• Does not display these details

• Focuses on the accounting aspect only

Fourth: Currency in the Report

Account Statement

• The report displays only in the main entity currency

Customer Account Statement Report

• Displays invoices according to their currency

• And shows:

  • Total invoices in the local currency

  • And total invoices in the foreign currency

Fifth: Number of Customers in the Report

Account Statement

• You can generate the report for more than one customer at the same time

Customer Account Statement Report

• The report can only be generated for one customer at a time

When to Use Each Report?

Use the Account Statement when:

• You need a comprehensive accounting report

• You want to see all transactions (manual and automatic)

• You need to track the actual balance of the customer from an accounting perspective

Use the Customer Account Statement Report when:

• You only need invoice details

• You care about:

  • Payment method

  • Associated project

  • Due date

• You need to display data according to invoice currency

Note: The entity name does not appear in the Customer Account Statement Report

• Currently the entity name does not appear in the direct Customer Account Statement Report.

• Alternative solution: Generate an Account Statement report while specifying the Accounts Receivable account and selecting Customers in the filter type, specify the customer name, then export the report where the entity name will appear in it.