A customer ledger stores transactional information for each and every customer a business deals with.
Hence, whenever the details of the customers are required individually, the ledger helps you retrieve the required information in an organized manner.
With more and more businesses opting for QuickBooks these days, the process to produce a customer ledger properly in the platform is still confusing. If you are among those looking for the best way to generate or produce a customer ledger in QuickBooks, reading further would surely help.
Why use QuickBooks for managing customer ledger?
Before you understand the steps to generate the customer details, it is important to know how QuickBooks can help in managing customer ledger properly and retrieving individual details as and when required. In a customer ledger, when a detail of a customer is retrieved, users also get to go through the credit notes and other additional remarks valid for a particular customer. Hence, the overall status appears to be clearer.
Secondly, when a customer ledger is sent to the client, users find it difficult to write a narration for each invoice, which is then reflected under the My Customer Ledger section.
However, when the payment is made, the payment narration is not visible. As a result, keeping a record becomes difficult. In that situation, when you have QuickBooks, you can send the details to the client so that the person accessing the data gets the overall status of the transactions being made.
How to Produce A Customer Ledger In QuickBooks?
When it’s QuickBooks, you do not get a chance to create a separate ledger for individual customers. Hence, to have a look at individual customer balance in QB, you will require generating the reports, displaying the transactional status. To generate the reports:
- Select Reports from the menu bar
- In the search box, type Customer
- Choose Customer Balance Detail
- Click the Customise button. This will filter the required information.
- Click on the Export icon
- Choose Export to PDF or Export to Excel
- Send the individual customer detail manually
In case you find that the finally exported dataset is missing out on any detail, you can have a new ledger account added as well. The steps to follow to do so have been mentioned below:
- Be on QB Online
- Move to the Accounting tab
- Choose Chart of Accounts
- Click New
- Select Account Type as well as Detail Type
- Add a Beginning Balance if required
- Click Save and Close
Once done, the account gets added and now you may generate the report again to get the results, including the new values. In case you find yourself stuck at any stage while following the steps, and our QB tech team representatives will help you instantly.