3.7 Statement of Account
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3.7 STATEMENT OF ACCOUNT
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Transcript of 3.7 Statement of Account
3.7
STATEMENT OF ACCOUNT
Video of this presentation at…
YouTube Channel for VCE Accounting
© Michael Allison. Author’s permission required for external use.
3.7 STATEMENT OF ACCOUNT
Cash Transactions Credit Transactions Other
Cash receipt
Cheque butt
Sales invoice
Purchase
invoice
Memo
Statement of
account
Order
Quote
© Michael Allison. Author’s permission required for external use.
Statement of account
Issued to credit customers to summarise transactions
3.7 STATEMENT OF ACCOUNT
Central Clothing Supplies Date: 31/3/2015
1804 Queens Road
North Melbourne 3051
IN ACCOUNT WITH: TGS Clothing Supplies
65 Feathertop Road
Melbourne 3000
Date Details Debit $ Credit $ Balance $
1 Mar Balance 300.00
3 Mar Payment Chq. 305 300.00 0.00
12 Mar Invoice DF8124 539.00 539.00
22 Mar Invoice DF8168 595.00 1124.00
31 Mar BALANCE AT END OF MONTH 1124.00
Seller
Issues the statement
to the buyer.
Buyer
Receives the
statement from the
seller.
Transaction details
The opening
balance, monthly
transactions and
closing balance of
the account.
© Michael Allison. Author’s permission required for external use.
Statement of account
Provides details of:
3.7 STATEMENT OF ACCOUNT
Central Clothing Supplies Date: 31/3/2015
1804 Queens Road
North Melbourne 3051
IN ACCOUNT WITH: TGS Clothing Supplies
65 Feathertop Road
Melbourne 3000
Date Details Debit $ Credit $ Balance $
1 Mar Balance 300.00
3 Mar Payment Chq. 305 300.00 0.00
12 Mar Invoice DF8124 539.00 539.00
22 Mar Invoice DF8168 595.00 1124.00
31 Mar BALANCE AT END OF MONTH 1124.00
The opening
balance at the
start of the month
All purchases
made by the
customer
All payments
received from the
customer
The closing
balance at the
start of the month
© Michael Allison. Author’s permission required for external use.
Statement of account
There are many documents going
back and for th between businesses
Summarise al l of the firm’s
documents into one concise
document
Date 3/3/2015
Payee Central
Clothing
Supplies
Fwd $
Chq $ 300-00
Bal. $
Chq 305
Central Clothing Supplies Inv. DF8124
ABN 67 392 203 201
1804 Queens Road
North Melbourne 3051 Date: 12/3/2015
To: TGS Clothing
65 Feathertop Road
Melbourne 3000
Item Qty Price Subtotal
Shoes 10 45.00 450.00
Delivery 1 40.00 40.00
Subtotal 490.00
GST 10% 49.00
Total owing 539.00
Terms: 10/15, n30
Central Clothing Supplies Inv. DF8168
ABN 67 392 203 201
1804 Queens Road
North Melbourne 3051 Date: 22/3/2015
To: TGS Clothing
65 Feathertop Road
Melbourne 3000
Item Qty Price Subtotal
Pants 11 54.00 540.00
Postage 1 0.90 0.91
Subtotal 540.91
GST 10% 54.91
Total owing 595.00
Terms: 10/15, n30
Central Clothing Supplies Date: 31/3/2015
1804 Queens Road
North Melbourne 3051
IN ACCOUNT WITH: TGS Clothing Supplies
65 Feathertop Road
Melbourne 3000
Date Details Debit $ Credit $ Balance $
1 Mar Balance 300.00
3 Mar Payment Chq. 305 300.00 0.00
12 Mar Invoice DF8124 539.00 539.00
22 Mar Invoice DF8168 595.00 1124.00
31 Mar BALANCE AT END OF MONTH 1124.00
3.7 STATEMENT OF ACCOUNT
Reliability
Information must be:
• Free from error
• Verified with a source document
© Michael Allison. Author’s permission required for external use.
TASK
In-class Homework
SQ10 X
SQ11 X
SQ12 X
Ex3.7 X
