How Epicor Customer Statements Work
The process generally begins with selecting the customer accounts and statement date or period. Epicor uses the relevant accounts receivable records to assemble the transactions and balances included in the statement. Finance teams review the output, confirm that the underlying transactions are posted correctly, and distribute statements through the company's established communication process.
For example, a customer begins the month with an outstanding balance of $6,000. During the month, the company issues invoices totaling $4,500 and records a payment of $3,000 against the account. Assuming there are no other transactions, the closing balance is $6,000 + $4,500 − $3,000 = $7,500. The statement communicates this balance and provides transaction details that help the customer understand how it was calculated.
Before distribution, teams should verify the statement date, customer account, invoice references, payment allocations, credit memos, and outstanding totals. This validation supports accurate communication and gives customers the information needed to reconcile their records.
Key Information Included in a Customer Statement
Statement layouts vary, but useful customer statements typically present enough detail for the recipient to identify each transaction and understand the remaining balance. Common fields include:
- Customer details: Account name, customer number, billing address, and relevant contact information.
- Opening balance: The amount outstanding at the beginning of the statement period, when applicable.
- Invoices and credit memos: Transaction references, dates, amounts, and due dates that explain account movements.
- Payments and adjustments: Posted receipts and other entries that reduce or modify the balance.
- Closing balance: The remaining amount due at the statement date.
- Aging or payment guidance: Overdue information, remittance instructions, and payment contact details where configured.
Clear transaction references are especially useful when customers have many invoices or make consolidated payments. If a receipt has not been matched to the correct invoice, the statement may not reflect the customer's intended allocation, so reviewing payment records is an important part of statement preparation.
Using Statements to Support Collections
Customer statements are an important communication tool within accounts receivable management. They remind customers of outstanding obligations, provide a shared transaction history, and help finance teams identify accounts that need follow-up. When customers question a balance, the statement gives both parties a starting point for investigating invoices, payments, deductions, and credit notes.
Effective collections processes combine statement distribution with prioritized reminders, customer conversations, dispute resolution, and documented promises to pay. Monitoring receivables alongside statement responses helps teams identify accounts that need additional attention and improve collection planning. Businesses can also use AR Automation Software to support collection follow-ups and payment matching, making it easier to connect customer communication with current account information.
Statements are most useful when they reach the right contact at an appropriate time. Companies should maintain accurate billing contacts, agree on statement frequency, and establish a process for handling returned emails, disputed invoices, and customer requests for supporting documents.
Payment Matching and ERP Integration
Reliable statements depend on accurate invoice and receipt records. The cash application process matches incoming payments to the appropriate customer invoices so account balances reflect the amounts that remain unpaid. When remittance details are incomplete or a payment covers several invoices, teams should review the allocation and record any unresolved differences before relying on the statement for collection decisions.
Customer Reconciliation is the process of comparing customer account records with relevant transaction and payment information to identify and resolve differences. It can help explain why a customer reports a different balance from the amount shown in Epicor.
The article How Hyperbots AI Agents 10x Epicor Finance Operations discusses finance workflows that include matching payments and remittances, managing exceptions, and posting receipts. The Hyperbots Platform supports finance process automation, while its integrations connect supported systems to help maintain consistent information across finance workflows.
Best Practices for Preparing Customer Statements
Finance teams should generate statements from current, posted records and apply consistent rules for statement dates, customer selection, and transaction inclusion. They should investigate unapplied receipts, duplicate entries, disputed invoices, and unexpected balance changes before sending statements to customers.
Organizations should also define statement frequency based on customer terms and business needs. Monthly statements may suit routine account monitoring, while more frequent communication can help manage high-volume accounts or overdue balances. Tracking statement delivery, customer queries, payment commitments, and subsequent receipts helps teams assess whether their communication process supports faster resolution and stronger cash flow.
Summary
Epicor Customer Statements summarize customer account activity and outstanding balances using accounts receivable records. They help businesses communicate invoices and payments clearly, resolve account differences, and support collections. Accurate transaction posting, consistent statement preparation, and coordinated follow-up improve customer understanding, receivables visibility, and cash flow management.