Account Statement

There are quite a few ways to use this account statement, but before we go ahead and start talking about it, lets stop on the few things that you should be aware of first.

First you would need to customize this spreadsheet and update cells that contain values in the square brackets with values relevant to your company such as address, company logo, bank account and company registration details, provision of which might be essential and compulsory by law of a country where you are at, but if it isn't the case then just delete the entire block. The value of the cell that indicates to whom all checks must be made payable to, will change automatically as you enter the name of your company above.

Using Account Statement instead of an Invoice.

One of the many ways to use an account statement is to use it as an invoice, where you can include all charges and payments. For instance driving instructor that gives 20 lessons can maintain a short-time credit for his client, who has paid a small deposit and pays the rest of the amount as he takes lessons, on weekly basis for example. So this method of use is pretty similar to the method of using a service invoice.

Using Account Statement for Invoice Tracking.

Most common way to use this template as an accounts receivable ledger for maintaining records on the customer accounts. This method involves tracking invoices that are issued to a customer within certain period of time also known as billing cycle, usually one month, and any payments received on the account. At the end of a billing cycle you customer should be presented with a statement of account, which should clearly indicate any amounts owed.

We suggest to keep records for each customer separate, which means creating a separate account statement spreadsheets for each customer, because you can then copy the entire worksheet and paste in-to a new worksheet, to begin a new records for the next billing cycle for instance, in fact you can also link cells with formula to transfer the final balance of the previous statement, which would look like the one below.

For most businesses, statements should be sent once a month to all customers, with a total balance of the account to the end of billing cycle.

The statement should show the following:

• a beginning balance (the previous month's ending balance)
• all invoices charged during the month
• payments on account during the month
• any debit memos or credit memos
• an ending balance
• a due date

It is also essential to maintain a record in a form of an accounts receivable ageing record, which should be prepared periodically and which you can use to contact past due customers.