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Customer and vendor balances

See each customer's and vendor's balance on a date, check that the invoice and bill lists agree with the ledger, and find receipts that haven't been matched to an invoice.

For accounts receivable, accounts payable and finance staffUpdated 4 Nov 2026

Before you start

In this article
  1. Steps
  2. How the figures are worked out
  3. Related

Five reports, under Reports › Receivables Reports and Reports › Payables Reports:

ReportAnswers
Customer BalancesWhat does each customer owe on a date?
Vendor BalancesWhat do we owe each vendor on a date?
Receivables ReconciliationDo the open invoices and advances agree with the receivable accounts in the ledger?
Payables ReconciliationDo the open bills agree with the payable accounts?
Unapplied ReceiptsWhich customer advances and payments haven't been matched to an invoice yet?

Steps

  1. Run Customer Balances (or Vendor Balances)

    Select Reports › Receivables Reports › Customer Balances. Choose the As at date and select Run.

    1. As at: the date of the balances.
    2. Run.
    3. Export to Excel.
    4. Total receivable (base currency) and how many customers have a balance.
    5. One line per customer: Receivable (open invoices), Advances (money held for them), Balance (base), and the balance in each Document currency.

    Below are Totals by currency and Control accounts: the accounts read and each one's closing balance. Vendor Balances (under Payables Reports) is the same for vendors.

  2. Run the reconciliation

    Select Reports › Receivables Reports › Receivables Reconciliation (or Payables Reports › Payables Reconciliation) and select Run. There are no filters: it always compares things as they are now.

    1. Sub-ledger (the open invoices and advances), General ledger (the receivable and advance accounts) and the Difference.
    2. Status: Reconciled or Not reconciled.
    3. Each document that differs, with the reason.
    4. Customer advances: the same check for advances.

  3. Find unapplied receipts

    Select Reports › Receivables Reports › Unapplied Receipts, choose As at and, if you like, one Customer, then select Run. You get Customer advances and Unapplied credits totals and one line per item with its Kind, Reference, Date, Age (days), Age band, Currency, Document amount and Open amount. Match them to invoices in receive a payment.

How the figures are worked out

FigureHow it's worked out
A customer's balanceDebit less credit on the receivable and customer advance accounts up to the as-at date. Positive: they owe you. Negative: you hold money for them.
A vendor's balanceCredit less debit on the payable accounts. Positive: you owe them.
Sub-ledgerEach posted invoice's (bill's) balance due at its own exchange rate, plus each customer advance's open amount, as they are now.
General ledgerEvery posting to the control accounts.
DifferenceSub-ledger less general ledger.

Reasons a document differs:

ReasonUsually means
Posted to the control account without a customer or vendorA journal posted to the receivable or payable account with no party. Post such journals with the customer or vendor chosen.
Posted to the control account without a documentSomething credited or debited the control account for a party but without an invoice or bill, for example a stock adjustment or opening balance posted to the payable account.
Open in the sub-ledger, nothing open in the ledgerThe invoice shows a balance due, but its ledger postings have been settled or reversed.
Open in the ledger, settled or missing in the sub-ledgerThe ledger still has an amount for a document that is paid or no longer exists.
Open amounts differBoth have an amount, but not the same one. Open the document and its posting batch in the Journal Register.