How to calculate customer balance with multiple currencies
Invoiceplace now provides an easy way to keep track of your customer’s account balance. See at a glance the total invoices paid, due, overdue and the total balance.
This provides an instant snapshot of your customer’s account. There is no need to manually add up receipts or invoices. Multi-currency billing software support is also provided and a total for each currency your customer has been invoiced will be displayed.
How is the customer balance calculated?
- Paid: Total receipts (payments received).
- Due: Total amount of unpaid invoices not past their due date.
- Overdue: Total amount for unpaid invoices that have past their due date.
- Balance: The total amount your customer owes (includes due and overdue invoices, and less payments received). If your customer is in credit a negative amount is displayed.
What does it mean if a customer is in credit?
A customer has a credit if they overpay an invoice. A negative balance is displayed in this case. For example if you create an invoice for $100 and your customer pays $110, the balance will be a credit of -$10.
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