A balance notification is a document for a person against whom a claim exists and the purpose is to obtain confirmation of the existence of a claim or obligation from the person. The balance statement allows the parties to compare the results of the transactions and to confirm that the transactions have been recorded correctly.
Balance notification to the customer
In Susan, you can create a balance notification for a customer on the customer card by clicking the Actions button and selecting Statement of Account from the menu. A dialog box will open, in which the date of preparation of the balance notification and the deadline for the customer's response must be indicated.
Susan displays the data in the balance notification as of the specified date and allows you to save or print the generated balance statement as a PDF document.
The requirement for a balance notification may arise from legislation in some countries. If there is another more efficient way to make an inventory of receivables and the amounts are small, a balance notification may not be required. However, it confirms that the parties have the same information about claims or liabilities.