Zoho Books - Why does the closing balance in the Customer Balances Summary report not match with the accounts receivable in the Balance Sheet report?
The accounts receivable section in the Balance Sheet report displays the outstanding receivables for the selected period. However, if you’ve recorded payment for transactions created for a future date, those payments will be tracked under unearned revenue. To calculate the closing balance for the selected period, subtract the accounts receivable from the unearned revenue.
The closing balance in the Customer Balances Summary report includes the outstanding receivables of your customers as well as their unused credits.
If you want to view the accounts receivable in the Customer Balance Summary report, you can customise the report add the Receivable Amount column to the report. Here’s how:
- Go to the Reports module on the left sidebar.
- Select Customer Balance Summary report under Receivables.
- On the Customer Balance Summary report page, click Customise Report at the top.
- On the Customise Report page, go to the Show or Hide Columns tab.
- In the Available Columns section, hover over Receivable Amount and click the + button next to it.
- If you have created transactions in different currencies, hover over Receivable Amount (FCY) and click the + button next to it.
- The Receivable Amount field will be added to the Selected Columns section.
- Click Run Report.
The Receivable Amount field will be added as a column in the Customer Balance Summary report.
Related Articles
Zoho Books -Why does the data available in the Customer Balances report differ from the data available in the Customer Balances Summary report?
The Customer Balances Summary report includes the customer balances for the selected period, whereas the Customer Balances report includes the customer balances that are applicable for the selected period and future dates. To access the same ...How is the closing and reopening of accounts for a fiscal year handled in Zoho Books?
Zoho Books automatically handles the closing and reopening of accounts. The closing balance of the last day of the previous fiscal year will become the opening balance for the new fiscal year. Also, Zoho Books does not restart the invoice numbering ...Why are Customer/Vendor Payments recorded against Unearned Revenue instead of Accounts Payable/Receivable?
When you receive an excess payment from a customer or record a single payment to multiple invoices, the payment is generally tracked under Unearned Revenue. Assume the case, where you receive $1000 from a customer. This is applied to 4 invoices, ...What are the accounts that cannot have a sub-account or a parent account in Zoho Books?
Accounts in Zoho Books can either be created manually or could be system generated. Each account can have sub-accounts and parent accounts. However, there are few accounts that cannot have either of it. Here’s a list of such account types and account ...How can I add an Accounts Receivable account in a currency that is not my base currency?
Zoho Books does not provide an option to create an Accounts Receivable account with a currency that is not your base currency.