Details on Statement of Account
Some of these details may be really obvious requirements but check the list carefully as there may be one or two things you hadn't thought of.
Name and Address
- Top Half – On the top half of the statement the customer's full business name and address needs to be included, as well as yours, the seller, with contact numbers.
- Bottom Half – Complete your business name and address on the remittance, and your customers name on the right.
This could be your customer's account number if you allocated them one when approving them as account holders.
Or you could use the month as a reference i.e. April.
Or just leave it blank.
Some businesses date their statements at the last day of the month i.e. April 30, this statement will show all invoices and credit notes for the month of April.
Some businesses date their statements at the first day of the month i.e. May 1, and will show all invoices and credit notes for the month of May.
There is no strict rule about how to date it. Choose your preference and stick with it.
This is the 'total due' balance taken off the statement sent out the previous month.
- Date – this is the date on the invoice or credit note sent
- No. - this is for the numbers of the credit notes or invoices that were sent out - payments can be allocated the reference number given it in the cash book
- Description – describes the type of document or transaction affecting the customer
- Amount – this is the amount of each sales invoice or credit sent to the customer – note the credit has a negative sign in front of it
- Payment – the column in which to show any payments the customer made during the month
- Remaining – the amount left after each invoice addition or credit/payment subtraction