I need to run Customer Statement that shows all the transactions with invoices, payments, and the balance.
Yes, you should be able to run the customer statement with that data but you can’t customize the format in QBO.
From Left navigation bar select Sales > select Customers – then select relevant Customer > under action column from the drop-down menu select Create statement – Statement type from drop-down menu Balance Forward – Save and Send by email. Print PDF option is also available.
You can run the statement for the batch of customers under batch actions column.