Account Statement Template

An account statement template is a document which provides periodic summary of the activity of the account from the beginning date till the ending date that has been decided. Generally, an account statement is provided monthly and sometimes quarterly. There are two types of account statements which are checking account statements and brokerage account statements. Credit card bills, which are shown monthly, are also considered account statements. Usually this service is provided by the bank to the beneficiaries. This helps the customers in knowing their full financing details.

Understanding of An Account Statement

To understand properly in detail account statement means it is an official summary of your account, wherever you have opened your account. For example, we can say that insurance companies usually provide an account statement for you to summarize your paid-in cash values. This statement can be made for almost all types of accounts. This will represent to you all going transactions; therefore it also includes online payment accounts such as PayPal, debit card, credit card, saving accounts. Few of the companies that provide these services are: television service providers, utility companies, as well as telephone service providers.

Key Points of an Account Statement

1) An account statement is made in periodic way which summarizes all activities of the account over the decided period of time. Usually an account statement is made after one month for most of the types of accounts.

2) Since the account statement is taken as the summary of the accounts, it includes details about services provided, fees charged, and if any money is owed by you.

3) An account statement should be thoroughly checked for its accuracy as these statements hold important position as budgets of the customers are made by it. If there is any mistake in this statement, it can cause problems and you can be held accountable for it.

Importance of an Account Statement

An account statement template is a good way to provide all of your customers with details of the products and services or any other types of transactions that were billed to them. It also helps the owner to know what payments the customers have made in the time of statement period. An account statement is very convenient when you have a regular customer for whom you have to pay this invoice monthly or annual basis. Account statements are usually sent to the customer in addition to individual invoices made for every purchase. Since all this procedure is done automatically, it is easy to view all of the payments paid and received by the customer in one place. This statement can also be used as a reminder for the customer as it shows them what all expenses they have made. In this way, if they have any upcoming payments, a reminder can be sent to them in advance. This statement also helps you in knowing what item that you have bought is of what price and how much did you pay or receive. This helps you in tracking information associated with your financing without any unidentified errors.

Template for Account Statement