Below the summary panel, your statement shows a dated list of every movement on the account during the period. This is the part your bookkeeper will work through line by line when reconciling.
How a line is built up
Each entry generally records the date it happened, a short description of what it was, the amount, and the running position of the account afterwards. Reading top to bottom, you can follow how the account moved from its opening position to its closing position.
Common kinds of entry
- Amounts drawn or advanced on your facility.
- Repayments received.
- Any cost of borrowing applied, shown at the rate set out in your offer.
- Adjustments, where something has been corrected or rebalanced.
Reconciling against your books
The reliable way to check a statement is to match each line to an entry in your own records. If something does not match, note the date and description of the line in question before contacting us, because that reference lets our team find it immediately. We have deliberately kept descriptions in plain English rather than internal codes, so an entry should make sense without a glossary. The statement always relates to your company's facility, since Credicorp lends only to UK limited companies and LLPs.
See also: What is the summary panel at the top of my statement?, How to read your statement of account, Statement glossary: running balance.