Statement

A statement is a financial document which lists a summary of what a customer owes, this is usually sent out monthly but can be more or less frequent. A statement is a source document.

It's also a very helpful checking document as can be used to verify a customer has received all the invoices a supplier thinks they should have. It can also serve as a reminder to a customer to pay their invoices.

Look Out For

• A brought forward balance - this is any balance left over from the previous statement (it can be a credit or debit balance).
• Payments received from the customer.
• Details of any invoices issued.
• Details of any credit notes issued.
• The running balance and at the bottom the current balance.
• The bank details to send payment to.