Fillable Form Account Statement

What is an Account Statement?

An Account Statement is a short form that details the activity of a particular account within a specific time period. Account Activity refers to the transactions made in a particular brokerage or bank account, such as cash withdrawals, bill payments, and wire transfers. Account statements require information on both the account in question and the transactions made, such as the account number, balance, and the owner’s name and address, and the transaction description, cost, and invoice number.

Account activity is sometimes used by reward programs like customer loyalty programs to determine whether or not a person qualifies for a particular award. In other cases, financial institutions will offer lower fees or discounts for clients that maintain a certain level of account activity. These rewards are offered as a way to incentivize customers and clients to stay with a particular institution instead of switching to a competitor.

There are many different kinds of account statements depending on the type of account. Some of the more common types include:

• Credit Card statements, which contain information on transactions made using a credit card.

• Brokerage Account statements, which contain information on the activity that the brokerage firm has engaged in.

• Checking Account statements, which contain information on the transactions involving the concerned account.

Bills from utility companies like telephone and electricity providers are also considered account statements, providing information on things such as usage of a service, costs of maintaining the account, and the payment due for the month. Account statements can be thought of as a summary of the account within a specific time period, and include statements of services provided, fees charged, and money owed.

Account statements are critical for monitoring the financial information of an account. For example, anomalous elements in account statements may be a sign that the account has been breached, either through hacking or a stolen debit or credit card. With this information, you may then proceed to applying for a new credit or debit card to keep your finances and personal information safe. Anomalous charges can also be contested provided that the account holder has proof that they did not make that transaction or agree to making it.

Who needs to use an Account Statement?

Account statements are important in ensuring your finances remain secure and that you can monitor and potentially plan out your finances.

• Financial Advisors may use account statements in order to get an idea of their client’s spending habits or financial needs so they can provide better advice for their clients on how to better manage their finances according to their needs or goals.

• Accountants can fill out and use account statements in order to keep their client’s financial assets organized and stable. This is sometimes referred to as “bookkeeping”.

• Investors make use of account statements whenever possible to make better-informed decisions on their investments.

• Utility Companies and other services give account statements to notify clients of their outstanding balance and provide a breakdown of the various services, fees, and debts that the client must pay for.

In general, anyone who wishes to monitor their finances, plan out their finances, or otherwise have a record of any transactions concerning a specific account.

How to fill out an Account Statement?

This account statement template is very simple to fill out. However, having additional documents containing the details of the account in question and the transactions within the given time period available to consult for details that might be important to include in the form. Helpful documents to have include past account statements, bills, and receipts.

Company

Enter the name of the company providing the account statement.

Phone Number

Enter the contact number of the company here.

Email

Enter the email of the company here.

Website

Enter the internet address of the company website here.

Receiver Details

Name

Enter the name of the person that the account statement is being sent to.

Company

Enter the name of the company that the receiver is associated with.

Address

Enter the receiver’s address.

Phone number

Enter the receiver’s telephone or cellphone number.

Email

Enter the receiver’s email address.

Account Summary

Account Number

Enter the account number here.

From Date

Enter the starting date of the time period covered by the account statement.

To Date

Enter the ending date of the time period covered by the account statement.

Previous Balance

Enter the total of any previous balances that have not yet been paid as of the last account statement or bill. This information can usually be found in previous account statements or bills. Companies sending account summaries will often also have previous balances on record for each customer.

New Charges

Enter the total of the new charges to the account.

Account Activity Details

For each line in this section, you must enter the following information:

Date

This refers to the date when the transaction was made.

Invoice Number

An Invoice Number is a unique number assigned to a bill charged to a client, and is used to track the payment made for the transaction. Typically, invoice numbers can be found on the bill they are assigned to.

Description

Descriptions can include things such as “Forwarded Previous Balance”, “Amount Paid”, and “Amount Loaned”. This description should also include some details on any existing interest, if applicable.

Debit

This refers to the amount that the transaction adds to the current balance, or in other words, the “cost” of the service or product being sold.

Credit

This refers to the amount that the transaction subtracts from the current balance. This is the “payment” rendered so far for the service or product that was sold.

Total

This is the difference between the amounts indicated in the debit and credit sections in the same row. This represents the total balance still remaining.

Enter these details for each of the transactions made in the time period identified above (From Date - To Date).

Subtotal

Enter the sum of all of the amounts in the “Total” column.

Interest

Enter the amount added by interest here.

Total Due

Enter the sum of the Subtotal and Interest here.

Tips when filling out an Account Statement

While they may sometimes seem daunting, account statements are very simple forms to fill out. However, because they contain sensitive information such as the receiver’s address, the account number associated with them, and the financial details of the receiver and the company, it is important to keep account statement documents safe.

Make sure all transaction details entered are correct and updated. Given that account statements deal with financial matters, it is critical to have the exact, correct details on each transaction that is noted in the statement. These transactions may be contested or denied if the details entered are incorrect, and this can lead to financial and legal trouble.

Practice good contract management. Keep a copy of this form in a safe and organized area. This will be useful for consultation when making another account statement, for the purpose of keeping records, and for any possible legal procedures that require the account and its transactions to be examined.

Review your Account Statements. Reviewing account statements will help you catch any possible anomalies or errors in the transactions, and address them accordingly.