CONTRACTOR GLOSSARY · MATERIALS & PURCHASING
What is a Supplier statement?
A supplier statement is the supply house's periodic summary of your account — every invoice, credit, and payment for the period, and the balance due.
Invoices arrive one purchase at a time; the statement rolls them up — usually monthly — into the supplier's version of the month: invoice numbers, dates, amounts, credits for returns, payments received, and what's owed. Terms typically run off this cycle, so the statement is also the document that tells you what has to be paid by when.
Reconciliation is the whole point. Before paying, match every statement line to an invoice you've captured and tagged to a job. The lines that won't match are exactly the leaks: the counter ticket that never made it to the office, the purchase rung on the wrong job, a duplicate, or a billing error. A statement paid without matching is a month of material costs taken on faith.
Reconciling monthly also closes the loop on returns — the credit memo you were promised either shows up on the statement or it doesn't, and the statement review is when anyone actually notices.
Common questions
Should you pay from the statement or from invoices?
Pay after reconciling: match each statement line to a captured invoice first. Paying the statement cold means paying for anything on it — errors, duplicates, and other people's purchases included.
What do you do with a statement line you don't recognize?
Ask the supply house for a copy of that invoice or the signed ticket behind it. Usually it's a real purchase whose paper got lost in the field — which is its own warning about ticket capture — but sometimes it's an error, and the signed ticket settles it.
RevnuPros tracks the thing, not just the word
Permits to sign-off, T&M tags to signature, materials to billed through, retainage to released — built for subcontractors. Browse the full contractor glossary or the Massachusetts permit guide.
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