Invoice / Payments history table or statement of account
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Hello, I need to print statement of account of my clients. I have a table that contains my invoices and another table that contains my payments. Each month I will have to print the history of invoices and payments with last month balance the calculate the new balance.
Date of transaction Reference Invoice Payment Balance
2016-02-25 09:23 FLO1602001 2281.2700 0 2281.2700
2016-02-25 09:51 FLO1602002 18860.1000 0 21141.3700
2016-04-14 09:39 RV16040100 0 -20205.3700 936Could you advise me? What is the best practice? 1. I create a new transaction table and each month I fill this new table with my invoice and payment tables. Or 2. I re-calculate each month my last month balance ?
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Hello, I need to print statement of account of my clients. I have a table that contains my invoices and another table that contains my payments. Each month I will have to print the history of invoices and payments with last month balance the calculate the new balance.
Date of transaction Reference Invoice Payment Balance
2016-02-25 09:23 FLO1602001 2281.2700 0 2281.2700
2016-02-25 09:51 FLO1602002 18860.1000 0 21141.3700
2016-04-14 09:39 RV16040100 0 -20205.3700 936Could you advise me? What is the best practice? 1. I create a new transaction table and each month I fill this new table with my invoice and payment tables. Or 2. I re-calculate each month my last month balance ?
Accounts payable (AP) or receivable (AR)? "Best practices" utilizes "journals"; to which daily transactions are "journalized"; which are then "posted" to "sub-ledgers" that maintain current balances; and monthly closing / opening balances. The AP and AR (sub)ledgers typically contain one account per vendor / customer; with "sub-accounts" representing invoice debits and credits. The AP and AR ledgers roll-up their totals to the "general ledger"; as (total) payables and receivables (per period; and current balances).
"(I) am amazed to see myself here rather than there ... now rather than then". ― Blaise Pascal
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Accounts payable (AP) or receivable (AR)? "Best practices" utilizes "journals"; to which daily transactions are "journalized"; which are then "posted" to "sub-ledgers" that maintain current balances; and monthly closing / opening balances. The AP and AR (sub)ledgers typically contain one account per vendor / customer; with "sub-accounts" representing invoice debits and credits. The AP and AR ledgers roll-up their totals to the "general ledger"; as (total) payables and receivables (per period; and current balances).
"(I) am amazed to see myself here rather than there ... now rather than then". ― Blaise Pascal
Thank you for your reply. Do you have a link to a tutorial or more documentation?
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Thank you for your reply. Do you have a link to a tutorial or more documentation?
[Accounting Basics Tutorial](https://www.tutorialspoint.com/accounting\_basics/index.htm)
"(I) am amazed to see myself here rather than there ... now rather than then". ― Blaise Pascal
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Hello, I need to print statement of account of my clients. I have a table that contains my invoices and another table that contains my payments. Each month I will have to print the history of invoices and payments with last month balance the calculate the new balance.
Date of transaction Reference Invoice Payment Balance
2016-02-25 09:23 FLO1602001 2281.2700 0 2281.2700
2016-02-25 09:51 FLO1602002 18860.1000 0 21141.3700
2016-04-14 09:39 RV16040100 0 -20205.3700 936Could you advise me? What is the best practice? 1. I create a new transaction table and each month I fill this new table with my invoice and payment tables. Or 2. I re-calculate each month my last month balance ?