Customer statement of account — Accounting glossary

A customer statement of account lists invoices, credit notes, receipts and the balance the seller believes a customer owes at a date. It helps the customer check the amount and the seller collect overdue balances. The statement summarises transactions already recorded; it is not another invoice. Compare disputes with source documents and payment evidence before correcting either party’s records.

Worked example

A statement shows a $900 invoice, a $100 credit note and a $500 receipt, leaving $300 due. The customer can check each item against their payable records.

Common mistake

Do not recognise all statement lines as new sales or assume the customer’s different balance must be an error in the seller’s ledger.

Where it appears in your exams

Qualification	Exam	Relationship	Period
ACCA	F1	Direct	July 2027–August 2028
ACCA	K1	Direct	July 2027–August 2028

Related terms

Invoice
Receivables reconciliation
Supplier statement
Trade receivable

Also called: Customer statement, Receivables statement