diff --git a/jdav_web/finance/models.py b/jdav_web/finance/models.py
index fd3d69b..d0e6678 100644
--- a/jdav_web/finance/models.py
+++ b/jdav_web/finance/models.py
@@ -162,6 +162,18 @@ class Statement(CommonModel):
 
     @property
     def transaction_issues(self):
+        """
+        Returns a list of critical problems with the currently configured transactions. This is done
+        by calculating a list of required paiments. From this list, we deduce the total amount
+        every member should receive (this amount can be negative, due to org fees).
+        Finally, the amounts are compared to the total amounts paid out by currently setup transactions.
+
+        The list of required paiments is generated from:
+        - All covered bills that have a configured payer.
+          (Note: This means that `transaction_issues` might return an empty list, but the calculated
+          total still differs from the transaction total.)
+        - If the statement is associated with an excursion: allowances, subsidies, LJP paiment and org fee.
+        """
         needed_paiments = [(b.paid_by, b.amount) for b in self.bill_set.all() if b.costs_covered and b.paid_by]
 
         if self.excursion is not None:
@@ -206,6 +218,7 @@ class Statement(CommonModel):
 
     @property
     def transactions_match_expenses(self):
+        """Returns true iff there are no transaction issues."""
         return len(self.transaction_issues) == 0
 
     @property
@@ -223,7 +236,11 @@ class Statement(CommonModel):
 
     @property
     def total_valid(self):
-        """Checks if the calculated total agrees with the total amount of all transactions."""
+        """
+        Checks if the calculated total agrees with the total amount of all transactions.
+        Note: This is not the same as `transactions_match_expenses`. For details see the
+        docstring of `transaction_issues`.
+        """
         total_transactions = 0
         for transaction in self.transaction_set.all():
             total_transactions += transaction.amount
@@ -231,6 +248,19 @@ class Statement(CommonModel):
 
     @property
     def validity(self):
+        """
+        Returns the validity status of the statement. This is one of:
+        - `Statement.VALID`:
+          Everything is correct.
+        - `Statement.NON_MATCHING_TRANSACTIONS`:
+          There is a transaction issue (in the sense of `transaction_issues`).
+        - `Statement.MISSING_LEDGER`:
+          At least one transaction has no ledger configured.
+        - `Statement.INVALID_ALLOWANCE_TO`:
+          The members receiving allowance don't match the regulations.
+        - `Statement.INVALID_TOTAL`:
+          The total amount of transactions differs from the calculated total payout.
+        """
         if not self.transactions_match_expenses:
             return Statement.NON_MATCHING_TRANSACTIONS
         if not self.ledgers_configured:
diff --git a/jdav_web/finance/tests/models.py b/jdav_web/finance/tests/models.py
index 1e5c624..2b640f7 100644
--- a/jdav_web/finance/tests/models.py
+++ b/jdav_web/finance/tests/models.py
@@ -147,6 +147,9 @@ class StatementTestCase(TestCase):
             refunded=False
         )
 
+        self.st6 = Statement.objects.create(night_cost=self.night_cost)
+        Bill.objects.create(statement=self.st6, amount='42', costs_covered=True)
+
     def test_org_fee(self):
         # org fee should be collected if participants are older than 26
         self.assertEqual(self.st5.excursion.old_participant_count, 3, 'Calculation of number of old people in excursion is incorrect.')
@@ -488,6 +491,11 @@ class StatementTestCase(TestCase):
         ljp_contrib = self.st_small.paid_ljp_contributions
         self.assertEqual(ljp_contrib, 0)
 
+    def test_validity_paid_by_none(self):
+        # st6 has one covered bill with no payer, so no transaction issues,
+        # but total transaction amount (= 0) differs from actual total (> 0).
+        self.assertEqual(self.st6.validity, Statement.INVALID_TOTAL)
+
 
 class LedgerTestCase(TestCase):
     def setUp(self):