Understanding the difference between Ledger A/c printout and Statement printout

The difference between Detailed Ledger A/c and Statement of Account

"Detailed Ledger Account" is for internal use and "Statement of Account" is for external use to be sent to clients or suppliers etc.

"Ledger Account" and "Statement of Account" printouts both show movements AND outstanding items by default. In practice most people suppress the movement section when sending statements to clients or suppliers.

"Statement of Account" is like a simplified Ledger Printout except that it shows a separate account for each currency found in the account and it only shows the CURRENCY amounts - not the base amounts and therefore skips any base currency only entries, like revaluations, which the external party is not interested in.

Movements and outstanding items are totally different things. Both are equally applicable for the two styles of output "Ledger Account" and "Statement of Account".

In both type of account, the list of outstanding items shows all the items outstanding "as at" a specific date.

Period can mean a single period e.g. 3/2017 or a range of periods e.g. 1-3/2017

Finance > Maintenance > Clear open item statements - removes the ability to get outstanding items "as at" periods long ago.

It is an important feature of any good accounting system that you can get an account of outstanding items "as at" a date in the past, otherwise one is effectively prevented from working on new financial periods before prior periods have been closed.