A statement of account is a document that summarizes all transactions that took place between a business and a particular customer for a given period of time. It is a summary of the account and includes statements of services provided, fees charged, and money owed. The statement of accounts is usually in addition to the individual invoices sent to the customer for each purchase that they make. It is a great way to provide customers with a recap of the products and services that were billed to them, and it also helps business owners confirm the payments that the customer has already made for a statement period, which is generally a month. The statement of accounts also provides business owners with an accurate price record for each item that they sold to their customers, enabling them to track information associated with a customer (like the purchases made by the customer) for any time span and aids in identifying errors.

A statement of account is typically divided into two halves. The top half contains an overview of the customer’s accounts, while the bottom half contains the details of each transaction. The beginning total of unpaid invoices, the invoice number, invoice date, and total amount of each invoice issued to the customer during the time period are some of the information that a sample statement of account usually includes.

Account statements can be generated for almost any type of account that represents ongoing transactions where funds are repeatedly exchanged, including online payment accounts such as PayPal, credit card accounts, brokerage accounts, and savings accounts. They provide a comprehensive overview of transactions, balances, and activities in a bank, financial, or other account. They include details such as deposits, withdrawals, interest earned, fees charged, and the current balance (if applicable) .

In summary, a statement of account is a document that summarizes all transactions that took place between a business and a particular customer for a given period of time. It is a summary of the account and includes statements of services provided, fees charged, and money owed. The statement of accounts is usually in addition to the individual invoices sent to the customer for each purchase that they make. It is a great way to provide customers with a recap of the products and services that were billed to them, and it also helps business owners confirm the payments that the customer has already made for a statement period, which is generally a month.