Statement of Account Template for Excel

Statement of Account Template for Excel

Business Kate

What is a statement of account?

A statement of account is a document used to outline the transactions an account holder has conducted from his account. It is issued by the financial institution in which a person has his personal account. In many cases, the seller issues the statement of account when he wants to document the transaction between him and his customers.

What is the purpose of using the statement of account?

There are many reasons why people use the statement of account. Some of the common reasons are

  1. This is to calculate the outstanding balance in the account.
  2. For letting the customers know about the transactions that he has conducted
  3. This is to avoid any dispute between the seller and the buyer.
Statement of Account Template for Excel

File: Excel (.xlsx) and iPad
Size 15 Kb

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What should be included in the statement?

In order to create a statement of account, there are some official requirements a seller or a financial institute is required to meet. When a seller wants an accurate picture of the transactions conducted by the customer, he must include the following details in the statement of account.

The total balance of the customer

It is important to tell the customer how much balance he has left in his account after conducting a series of transactions. This information can help the customer get a clear picture of where and how he is spending his money.

Detail of transactions

Since the purpose of creating the statement of account is to document the transactions, it should provide details about all the transactions that a customer carries out in a particular period. Every statement of account has a date range. Within the specified range of dates, all the payments made by the customer, refunds to the customer’s account, and all other details are added.

Range of date

Everyone needs an account statement for a particular period. The financial institute usually issues one, considering the period necessary for the customer. The account statement can be issued for a month, a quarter, a year, or more.

Contact details

The contact details of the seller and customer should be included in the statement of account. These details include the name, phone number, residential address, and more.

When to use the statement of account?

The statement of account is usually needed by people to show how financially stable they are. Many institutes ask their clients to show them their statement of account when they request that they let them purchase products or services from those institutes on credit.

Anyone who needs the account statement will have to contact the relevant institution for this purpose. He will have to tell the date range of the statement of account, and then this statement will be issued to that person. It should be noted here that this statement is issued to the account holder only.