Read the statements: receivables, P&L and balance sheet

Every entry you made in this course went into the books twice, once as a debit and once as a credit. The statements add those entries up. In this last lesson you read them and find what your customers still owe.

Double entry in one paragraph

Each transaction changes at least two accounts by the same amount. Your lesson 4 invoice raised the customer's balance (a debit) and raised sales and GST payable (credits). The receipt in lesson 8 raised the bank (debit) and reduced the customer's balance (credit). That is why the books always balance.

Trial balance, P&L and balance sheet

• The trial balance lists every account with its debit or credit balance; the two columns are equal.
• The profit and loss statement shows income less expenses for a period.
• The balance sheet shows what the business owns (assets, including money customers owe) and owes (liabilities, including GST payable) on a date.

The customer statement

A customer statement lists one customer's invoices and payments and the balance still due. The receivables report adds up the balances of all customers. From the course examples: invoices of Rs 23,600 + Rs 23,600 less a receipt of Rs 10,000 leaves Rs 37,200 due. Your own figure depends on what you entered.

Questions

What do I get at the end?

A certificate of completion with your name, the date and a link anyone can open to check it. It says you completed the course tasks in Rebota; it is not a degree, a government certificate or an accreditation.

Reviewed: 7 Nov 2026. This is general information, not advice from a chartered accountant. Rates and rules change; check the source named in brackets.