A Creditor's Statement is a comprehensive document that provides an overview of the Creditor's account information. The Creditor's Statement facilitates reconciliation between the Creditor and the Practice by presenting a summary of all transactions between the Creditor and the Practice. The Creditor's Statement displays the current balance owed to the Creditor and lists all the invoices, payments and transactions made by the Practice. This document also serves as a check to see if any payments are overdue and give the user a clear understanding of the financial status of the account. A Creditor is a company or person the Practice owes money to for services rendered or goods given. There are three types of Creditors a Practice will encounter a Normal Creditor, an Assistant Creditor or a Manufacturing Creditor.

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