Supplier statement
A supplier statement lists transactions and the balance the supplier believes a customer owes at a date. The customer compares it with its payable ledger to find missing invoices, credits, payments or timing differences. A payment already made but not yet processed by the supplier may be a timing difference rather than an omitted expense.
Worked example
A statement includes an invoice missing from the customer’s records; the customer investigates and records it if valid.
Common mistake
Posting every difference automatically without checking for timing differences and errors on either side.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Direct | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| FIA | FFA | Direct | September 2026–June 2027 |