A statement is a document showing the status of a customer's account at a particular point in time. QuickBooks can create three types of statements: balance forward, open item, and transaction.
Balance forward
A balance forward statement shows all activity dated between start and end dates you choose. It has a Balance Forward amount at the top and keeps a running balance in the Balance column.
You can choose a balance status of all, open, and overdue for this type of statement. All includes customers who have a zero balance.
Open item
An open item statement shows all invoices that have an open balance (an amount still owed). The original amount of each invoice is shown along with the open amount.
For this type of statement, you can choose a balance status of open or overdue. Customers with a zero balance don’t have open items so they’re not included when creating these kinds of statements.
Transaction
Like a balance forward statement, a transaction statement shows all activity between start and end dates you choose. But it doesn't have a balance forward amount and amount due; it shows a total amount and amount received for the period instead.
Transaction statements can be used as donor or pledge reports. They’re useful for nonprofits and other businesses that need to send activity reports to their donors, but that don't want to show a running balance or an amount due.
Although this statement type doesn't display balance forward or due amounts, they do share the same balances statuses as a balance forward statement. For the statement criteria, you can choose a balance status of all, open, and overdue for transaction statements. All includes customer who have a zero balance.
