{"id":7373,"date":"2023-10-23T05:53:11","date_gmt":"2023-10-23T05:53:11","guid":{"rendered":"https:\/\/docs.daftra.com\/user_manual\/7213\/"},"modified":"2025-03-05T10:35:13","modified_gmt":"2025-03-05T10:35:13","slug":"different-client-balances-and-client-statement","status":"publish","type":"user_manual","link":"https:\/\/docs.daftra.com\/en\/user_manual\/different-client-balances-and-client-statement\/","title":{"rendered":"Different Client Balances and Client Statement"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text css=”.vc_custom_1698137854076{margin-left: 200px !important;}”]Identifying the client statement of account or the financial amounts due for payment is vital for your business, and accuracy should be observed in it. Therefore, here are the details in the following steps.<\/span>[\/vc_column_text][vc_custom_heading text=”What is the difference between a Client’s Open Balance and Overdue Balance?” font_container=”tag:h2|font_size:28|text_align:center|color:%2304306b|line_height:2″ use_theme_fonts=”yes” css=”.vc_custom_1698137892051{margin-left: 200px !important;background-color: #f6f9fc !important;border-radius: 4px !important;}”][vc_column_text css=”.vc_custom_1741170716316{margin-left: 200px !important;}”]The date of issuing an invoice may differ from the payment due date, and this is also applicable to all financial transactions with clients. Therefore, in the client’s file, you will see the total amount they owe you, as well as the amount required to be paid, i.e., the overdue amount.<\/span><\/p>\n

To review these details, as well as the account statement, click on <\/span>“Manage Clients”<\/b> found under <\/span>“Clients”<\/b> in the main menu, and then click on the client’s file for which you want to review the related financial amounts.<\/span><\/p>\n

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You will see the total amount owed by the client in the <\/span>“Open”<\/b> balance.<\/span><\/p>\n

Meanwhile, the amount due for payment and its due date will be displayed under the <\/span>“Overdue”<\/b> balance.<\/span><\/p>\n

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If the client has a monetary amount with you, a new balance named <\/span>“Credit” <\/strong>will appear, showing the amount that you owe to your client. This could be a result of an opening balance, refund receipt, or other scenarios.<\/span><\/p>\n<\/blockquote>\n

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The client’s <\/span>“Open”<\/strong> balance is usually equal to the <\/span>“Overdue” <\/strong>balance, especially if the invoices are due for payment as soon as they are issued.<\/span><\/p>\n<\/blockquote>\n

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You might not see the <\/span>“Overdue” <\/strong>value if the payment due date has not passed yet.<\/span><\/p>\n<\/blockquote>\n

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The “Open”<\/strong> balance refers to the “Debtor”<\/strong> balance of the client.<\/p>\n<\/blockquote>\n

[\/vc_message][vc_column_text css=”.vc_custom_1698140899483{margin-left: 200px !important;}”]\"\"[\/vc_column_text][vc_custom_heading text=”Displaying the Client Account Statement” font_container=”tag:h2|font_size:28|text_align:center|color:%2304306b|line_height:2″ use_theme_fonts=”yes” css=”.vc_custom_1698140953074{margin-left: 200px !important;background-color: #f6f9fc !important;border-radius: 4px !important;}”][vc_column_text css=”.vc_custom_1698141238087{margin-left: 200px !important;}”]You can view the account statement in two ways:<\/span><\/p>\n