Get a handle on your Statement of Account
Sarah Daly FCCA, Accredited EMCC Coach, MBS, BBS (Acc)
Guiding Business Owners to Navigate Growth or Exit | Partner with me to either Scale for Success or Sell for Maximum Value | Expert in both
In a previous blog I explained how issuing monthly Customer Statements helps your customers keep track of what they owe you.?
A Statement of Account is similar to a Customer Statement but contains more detail. You could think of it like a bank statement that shows all of the transactions on the account in a given period, so as well as showing the outstanding balance, it also shows the payments your customer has made and any credit notes that you may have issued.?
These monthly Statements of Account also help you to keep track of the payments you receive from customers and check that these match the corresponding payments in your Bank account.
The Statements can cover all of the transactions in a given month. They can also be used to show all of the activity on a customer account over a longer period. This is often helpful when you need track down missing invoices or payments.
Need help with to produce a statement of account??Get in touch with me for details of GroForth's bookkeeping services.