Statement of Account

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Statement of Account — page 1

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Statement of account — how to use
A statement of account lists every invoice, payment, credit note, debit note and adjustment on one customer account for a period, with the running balance, the closing balance and an aging of what is still open at the statement date.
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Cells with this fill are inputs. Everything else is calculated — do not type over it.
1. Header: your company, the customer, the customer's account number, the statement date, the period, currency and payment terms.
2. Opening balance: the balance at the start of the period and the date it fell due. It becomes the first line automatically.
3. Lines: one per document, in date order. Charges (invoices, debit notes) go in Debit; payments, credit notes and credit adjustments go in Credit.
4. Applies to: for each payment or credit, the reference of the invoice it settles (or "Opening balance"). This is what makes the aging correct.
5. Due date: for each invoice or debit note. Days past due and the aging bucket are counted from the statement date.
Checks
Closing balance = opening balance + debits − credits. Aging total = current + 1–30 + 31–60 + 61–90 + over 90 − unapplied credits; it must equal the closing balance.
If the check says otherwise, a payment or credit is applied to a reference that is not on the statement, or more than the invoice was applied to it.
References must be unique: one invoice number, one payment reference. The other party will match your lines to theirs by reference.
Next step
Send the statement and ask the customer to confirm it. If their balance is different, reconcile line by line in the vendor reconciliation workbook.