Important steps before you do an end-of-month statement
To make sure that your end-of-month statement has accurate data and good results, use these general steps.
1. Make sure that you approve all unapproved invoices in the applicable statement period.
2. Use the Unapplied Payments and Credits report to do a check of payments and credits that are not allocated to unpaid invoices.It is best to make to sure that payment and credit allocation is correct before you send financial statements. For example, a client could have a balance of $0.00. But if you do not do payment allocation for the client's payments to the applicable invoices, they will receive an invoice overdue statement.
3. Enter all applicable debtor payments in ezyVet. Then, use the Aged Receivables report to make sure that the debtor accounts have accurate information. If the report shows an account that has $0.00 owing, there is a related unallocated payment or unallocated credit.
- Make sure that all approved financial records are synced with Xero
- Make sure that ezyVet and Xero have the same debtor balances
4. If applicable, use the Unbilled Consult Appointments report to make sure that consult appointments have the correct invoices.
5. If it is necessary to charge interest, use the Charge Late Fees/Interest report.