What Is a Statement of Account?

A statement of account is a summary sent to one client that lists every invoice, payment and credit between two dates, with the balance they owe at the end. It adds no new charges.

Businesses that invoice the same client often, such as a consultant on a monthly retainer or a trade business doing regular jobs for a property manager, send statements so the client can check their records against yours. A statement is also a useful nudge. An overdue invoice from six weeks ago is easy to forget, but much harder to miss when it sits in a list above the total.

A typical statement shows the opening balance, each invoice and payment with its date and reference, any credit notes, and the closing balance. Many also add an aging summary that splits the balance into current, 30, 60 and 90+ days overdue.

Statements are usually sent monthly, or when you are chasing an overdue balance and want the client to see the whole picture at once.