How to reconcile a supplier statement
A supplier's statement rarely matches your own ledger. Find the differences, tell timing from errors and agree the balance.
Task 1Two records of the same account4 questions
A supplier statement is the supplier's record of what you owe. Your purchases ledger account for that supplier is your own record of the same thing.
| Date | Details | Amount | Balance |
|---|---|---|---|
| 1 Jun | Balance brought forward | 900.00 | |
| 6 Jun | Invoice G201 | 1,200.00 | 2,100.00 |
| 14 Jun | Payment received | (900.00) | 1,200.00 |
| 20 Jun | Invoice G230 | 660.00 | 1,860.00 |
| 28 Jun | Invoice G244 | 540.00 | 2,400.00 |
| Date | Details | Debit | Credit |
|---|---|---|---|
| 1 Jun | Balance brought forward | 900.00 | |
| 6 Jun | Invoice G201 | 1,200.00 | |
| 14 Jun | Payment | 900.00 | |
| 20 Jun | Invoice G230 | 660.00 | |
| 29 Jun | Payment | 1,200.00 |
In the ledger account the balance is the credits less the debits. Then compare the two records line by line.
Task 2Agreeing the two balances3 questions
Task 3Timing or error3 questions