Balance-forward statement
A vendor statement that carries a running balance through the period, using debit and credit columns or a balance that updates after each line.
QuickBooks, Sage, and Dynamics use the balance-forward label for statements that carry a balance through the period. Charges may appear in a debit column and payments or credits in a credit column, or each line may update a single Balance column.
Check both the individual lines and the arithmetic: opening balance + movements (invoices, payments, and credits) should equal the closing balance. If it does not, review the movements that remain unmatched or unexplained.
A large opening balance may include history that is not shown line by line. If the report does not include the supporting detail, record that limitation and request the history. Do not create invoice lines to force a match.
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Statement Zen Academy Team — Practical guidance based on Statement Zen's vendor statement reconciliation work. · Last updated