You can now generate statement with a Word Merge.
Note: This feature is in beta. Your feedback is welcome.

Click Reports > Batch > Invoices & Statements

Choose Word Merge from the Output Drop-down, and then under 'Job', select Statements (beta).
Choose an Email address from the "Include Email" drop-down.

You can choose other options from the other tabs, as needed.
Click OK.

In the following screen, choose your predefined Word Template for statements.
A sample template (statements.dot) is located in the C:\Chabad Management System\Sample Templates folder. You can copy this file to your Documents\CMS\Templates folder and make changes to it as needed, or create your own Template and insert the fields as they are in the sample.

Using this feature, you have full control of the look and feel of your statement. In fact, you can make it look like a letter, with a small stub at the bottom of outstanding bills.

Here is what the sample looks like:

The email field is included in the statement merge allowing you to merge your statements into an email message.