Account Statements

← Accounting Support

Account statements are reports that show the billings and payments of a given account for a specific time period.

JustOn implements account statements using specific statement records that summarize the account's balances.

AR collection tools in JustOn

The following table lists tools for collecting overdue receivables. To actively trigger timely payments, by contrast, you can use JustOn's payment collection or SEPA export.

Tool Description
Account statements Account statements are reports that show the billings and payments of a given account for a specific time period. Businesses can use them to remind customers of sales that have not yet been paid, without expressly stating an overdue receivable and without starting a dunning process.
JustOn implements account statements using specific statements that summarize the account's balances.
Dunning statements Dunning statements officially notify customers of overdue payments. According to the overdue status, these notifications can progress from friendly reminders to firm warning letters.
JustOn implements dunning process support based on configurable dunning statements.
Using multiple dunning levels, you can build your individual dunning escalation scenario.
Debt collection If the dunning communication remains unfruitful, businesses may turn customers over to debt collection agencies, who usually proceed to take other collection options.
To support this option, you can specify the name of a debt collection agency when configuring your dunning levels. When set, JustOn copies the name to the invoice, where it is then available for further custom processing.
Individual value adjustment Individual value adjustment (or IVA) is an accounting procedure for devaluing receivables, for example, outstanding payment requests for invoices.
JustOn implements IVA for invoices using specific bookkeeping data.
Write-off Write-off is an accounting procedure for reducing or completely removing the value of an asset or receivable – for example, an uncollectible payment for an invoice.
JustOn supports writing off invoices using specific balances that count against the invoice balance.

To illustrate the options in the context of invoicing, think of the following scenario:

(1) A customer defaults on paying an invoice. You notify them of the overdue payment using account statements or (multi-level) dunning reminders.

(2) If the invoice remains unpaid and becomes more overdue, you may consider applying individual value adjustments in order to devalue the corresponding receivable.

(3) Eventually you realize that the customer is definitely not going to pay – the receivable becomes uncollectible. In this case, you must account for the loss, writing off the open amount.

(4) You may call on a debt collection agency to handle the collection. Usually, doing so also involves an individual value adjustment on your receivable.

Example AR collection scenario

Understanding Account Statements

Businesses may want to remind customers of sales that have not yet been paid – but perhaps without expressly stating an overdue receivable and without starting a dunning process. To this end, they create, for example, monthly reports on issued invoices and received payments, and send them out to their customers.

Usually, these statements include all unpaid invoices, even if they are not yet due. In this sense, they are still a collection tool, because they prompt customers to pay.

Account Statements in JustOn

To support accounting purposes, JustOn allows for generating account statements – reports that summarize the balances of a given account for a specific time period. PDF copies of the account statements can then be distributed to the corresponding recipients.

Account statements can have different statuses:

  • Draft: New account statements have the status Draft. You can check draft account statements for correctness and edit them as necessary.
  • Closed: Finalizing account statements sets them to Closed and generates the PDF account statements to be sent out.

There are two ways to create account statements:

  • individually for a single account using the function Account Statement,
  • for multiple accounts using the Statement Runs functionality.

After reviewing them, you can then distribute the generated account statements.

If the involved balances relate to business entities, JustOn Billing & Invoice Management groups the balances by their business entity and, consequently, creates separate account statements for each account-business entity pair. In this case, you may want to add the field Business Entity to the list of displayed fields of the Statements list view (see Modifying Page Layouts or Search Layouts) so that the business entity to which an account statement relates will immediately be visible.

When creating an account statement for balances without related business entity, JustOn Billing & Invoice Management will associate the produced account statement with the default business entity (if set).

Finished account statements, that is, those in the status Closed, are supposed to be distributed to their corresponding recipients.

  • By default, JustOn supports the distribution of the generated account statement PDF documents via email.
  • You can redistribute account statement PDF documents to new file distribution target or download them to a ZIP file.

    Use the redistribution function with caution. JustOn does not check the selected file distribution target for existing files, so distributing the same files to the same targets produces duplicates, which may consequently have unwanted effects.

Managing Account Statements
Setting Up Account Statement Management