How to read a statement of account
A statement lists everything between a seller and one customer for the month. Follow the running balance to what is owed.
In this room: 2 tasks, 7 questions
- What a statement shows4 questions
- Using a statement3 questions
A statement of account is sent to a customer, usually once a month. It is a reminder, not a new charge.
| Date | Details | Amount | Balance |
|---|---|---|---|
| 1 Mar | Balance brought forward | 240.00 | |
| 4 Mar | Invoice 2041 | 660.00 | 900.00 |
| 11 Mar | Credit note 51 | (60.00) | 840.00 |
| 20 Mar | Payment received | (240.00) | 600.00 |
Invoices add to the balance. Credit notes and payments take away from it.
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3 more questions follow in this task.
The customer checks the statement against their own records. Any difference is queried before paying.
The seller's own record of this customer should show the same closing balance.
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2 more questions follow in this task.