The create statement window allows you to select the various options for creating statements, such as which clients to create statements for, as well as what dates the statement(s) will cover.
Once you have set your options, click Print to print your statements or see a print preview. You can also open the template designer by clicking Print and then selecting Designer.
This button is the same as selecting "Print Preview" from the print button drop-down. It displays a preview of your statements, with formatting and template applied. You can then print, save, or email the statements directly from the preview window, if you wish.
The create statements window shows you a list of clients, and their balance. Statements will be created for those clients who are checked.
By default, all clients with open balances are selected. You can use the Unselect All button to unselect all of the displayed clients. Once clicked, this button changes to Select All, which you can then click to re-select all of the displayed clients.
Clicking this button will calculate any applicable finance charges for the selected clients and add that amount to their balances. The finance charge will appear on the client's statement as a line item marked "Finance Charge."
You can apply finance charges to a client's account at any time, however you cannot apply them more frequently than once per month.
When you click Apply Finance Charge, TurboLaw® Time and Billing looks through all the bills for each client. If a bill is past-due (based on the terms you have given that client, and the "End" date you have chosen for the statement period), the following formula is used to calculate the finance charge amount:
[days past due] x [dollar amount of the bill] x (finance charge rate/360)
Once the finance charges for all overdue bills have been calculated, they are added together, and a new bill for that client is created for the amount of the finance charge, dated with the current date.
Note: If a client has been assesed finance charges before, these previous finance charge amounts will also be included as "overdue bills." In TurboLaw® Time and Billing, finance charges are due immediately - they are not subject to a client's terms.
If you want to remove a finance charge that you've applied to a client, you must exit the create statements window. Finance charges appear in TurboLaw® Time and Billing as a special type of bill with a single line item. To remove the finance charge, simply void (or delete) the bill on which the finance charge appears. Finance charge bills are labeled as "finance charge," so they are easy to pick out from the list of bills.
You can select whether to display only those clients with open balances (the default), or all clients.
This is the "effective date" for the statements, and will be printed on the statements themselves.
By default, the statement date is set to the current date.
This is the range of dates that will determine which items are included on the statement. Only bills and payments from within the statement period will be included as line items on the statement - anything prior to the statement period will appear only as a "Balance Forward." Anything after the statement period will be ignored.
By default, the statement period is set to the previous 30 days.
This lets you choose the template for your statements.
See also: