Use Statement Cycles to define the statement cycles and the frequency for customer billing.
Setting Up Statement Cycles
Select Financials | Setup | Statement Cycles.
Click New to create a new statement cycle.
In Description, specify a description of the payment method.
In Cycle Type, select the frequency of the statement cycle. The following cycle types are predefined in the system:
Bi-Monthly – statement cycle occurs one time every two months
Bi-Weekly – statement cycle occurs one time every two weeks
Monthly – statement cycle occurs one time every month
Quarterly – statement cycle occurs one time every quarter
Semi-Monthly – statement cycle occurs two times every month
Weekly – statement cycle occurs one time every week
Click Save and New, or click Save and then click New, to save the current statement cycle and start adding the next.