Cutting Off Customer Statements

Once you’ve applied finance charges, you can run the statement cutoff. This process ages customer balances. You should perform this procedure on the same day every month.

To cut off customer statements

1. Generate a Customer Balance Report and review your customers’ balances (optional). For more information, see Customer Balance Report.

Note: Because the statement cutoff ages balances, the amounts listed on this report are displayed in different buckets than those on the statements. Therefore, you might also want to print the report once the statement cutoff is complete.

2. From the Closing menu, select Statements and then Cutoff. The following message appears:

“Do you want to print an unapplied credit report?”

3. Click Yes. The Report Window appears and displays the Unapplied Credit Report.

4. Print the report if needed, or review it on the screen.

Note: If the report lists any unapplied credits, close the Report Window and click No when prompted to continue the statement cutoff. Then apply the credits to the appropriate customer balances, if possible. For more information, see Applying ROAs.

5. Close the Report Window. A confirmation message appears.

6. Click Yes. A confirmation message appears.

7. Click OK.