Account Statement Template (MS Excel)
It comes to send account statements to your client no matter what business you belong to. And here is a wonderful yet comprehensive Account Statement Report that can help you to effectively communicate account status (debit or credit) to your clients professionally. This statement template has to parts: Cover Letter and a Sheet to list recent transactions or details of a specified time period. It is also a good practice to send your client their account statement on regular basis no matter if they specifically asked for it or not. Such practice always lead to having pro-active actions on client’s end specially when they have debt balance with you. Despite of the fact that it has a cover letter in itself, this Statement Template is created using MS Excel to help technical persons use it with less efforts.
An accounting statement is generally a financial statement that gives the information about the activity in an account or the whole business. Accounting statements are a usual document that is used in all kinds of finance operating companies and firms such as loan companies, banks and stock exchanges. If we talk about an accounting statement related to a bank, it shows the total amount in an individual’s account, the transactions, deposits and the added interests or deducted services charges. Most of the banks and firms provide these statements free of cost and you can have the statement in both paper and digital form but some companies charge a little when you ask for a paper statement in order to discourage the customer to use paper and motivate him to go with paper free methods. These statements vary from banks to banks but generally an accounting statement includes the account number, name and contact information of the owner of the account. Here some banks also like to mention the type of account such as savings or current.
Here is preview of this Account Statement Template created using MS Excel,
These statements are prepared over a period of time such as at the end of every month, or after every three to six months depending upon the strategies running in a particular bank. When a customer gets his account statement, with a quick glance, he sees all the financial transactions in his account over the last accounting period. Most of the times, banks issue these statements automatically but if someone wants, he can get his account statement any time he wants. The main purpose of this statement is to reveal the total amount of debt, credit and the remaining balance in an account. Although an accounting statement is just a piece of paper but sometimes banks also send an additional document that includes the transactions in details and in a more brief way.
Generally an accounting statement includes 10 basic elements but some of them are not that essential so here are the 5 key elements of a statement:
an asset is something that is owned by a company or organization and it has some future market value. For example a building is an asset for a business or the furniture in the class rooms is an asset for the school. The cash in hand, investments in other businesses, accounts receivables and vehicles are also an asset of a business. Assets are further divided into two categories; non-current and current assets.
liability is the exact opposite of an asset in businesses and companies. Liability is the amount of money that you or your company owes to someone else. For example a company buys a truck for the delivery purposes but pay the amount two months later after the purchasing so this truck in a liability of that company until it pays its full price to the supplier or seller.
anything that represents the ownership in a company is called the equity. For example a company bought a building but didn’t pay for it right away so now it’s a liability and the company can’t sell it to another person but when it pays to the seller in full, now it’s equity of the company and it can sell the building to anyone. Sometimes it’s also referred as stakeholder’s equity.
a company’s total earnings including the profits on sale and interest rates are called the income of a company. It’s actually the amount of money that is incoming in a company or business and it’s sometimes also referred as the profit of a company. On an accounting statement, it’s the amount that comes from adding the asset value and deducting the liabilities and expenses.
expense in a company is everything that the company is paying to their partners, employees, suppliers and liability owners. It includes the services charges a company pays to another company, the salaries of the employees, regular expenditures like office stationary, utility bills and the rent for the office building or vehicles in use. In simple words, an expense is everything that is going out of the company.
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