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Statements

What statements are, how they are created, and how to manage them

Written by Mykyta Medvediev

Overview

Pilot generates Balance Forward Statements to provide comprehensive financial summaries for billing accounts. A Balance Forward statement is a detailed summary that consolidates all financial transactions for a specific billing account within a designated time period.

Each Balance Forward statement includes the following information:

  • Opening Balance: The account balance at the beginning of the statement period

  • All Invoices: List of invoices generated during the statement period

  • All Payments: List of payments received during the statement period

  • All Credits: List of credits applied during the statement period

  • Closing Balance: The final account balance at the end of the statement period

This comprehensive view allows billing accounts to track their complete financial activity and understand how their balance has changed over the specified timeframe.

Statement Generation

There are three distinct methods available for generating Balance Forward statements:

  • Individual Account Generation

  • Bulk Generation for All Accounts

  • Automated Generation

Individual Account Generation

To generate a statement for a single billing account:

  1. Navigate to the specific billing account you wish to create a statement for

  2. Open the "Financials" tab, scroll down to the "Recent Transactions" section, open the "Statements" tab, and select the "Create Statement" option

  3. The system will generate a Balance Forward statement for that account's most recent billing period

This method is ideal when you need to create a statement for a specific account outside of the regular billing cycle.

Bulk Generation for All Accounts

To generate statements for all billing accounts simultaneously:

  1. Navigate to the Financials -> Statements

  2. Click on the "Create for All" button

The system will automatically generate Balance Forward statements for the last billing cycle for every billing account in the system

This method is useful for processing statements for all accounts at once, typically at the end of a billing period.

Automated Generation

For hands-off statement generation, you can configure the system to automatically create statements:

  1. Navigate to Settings → Organization Settings

  2. Set up your desired billing cycle

  3. Once configured, the system will automatically generate Balance Forward statements for all billing accounts at the conclusion of each billing cycle

This automated approach ensures consistent statement generation without manual intervention and is recommended for regular billing operations.

Important Restrictions and Guidelines

Duplicate Statement Prevention

The system enforces a strict policy regarding statement generation: you cannot generate more than one statement for the same billing account within the same billing cycle

Statement Regeneration Process

If you need to regenerate a statement for any reason:

  1. Delete the existing statement: You must first remove the current statement for that billing cycle

  2. Create a new statement: After deletion, you can generate a new statement using any of the three methods described above

This two-step process ensures data integrity while allowing for corrections or updates when necessary.

You cannot delete a statement if there exists another, more recent statement for that billing account.

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