Money is an inevitable requirement in our lives and is equally inevitable for us to maintain a track of the many transactions. The template for bank statement assists in the execution of such purposes. Firstly Sample Statements it acts as evidence and secondly preserves the authenticity of your transactions
What Is an Account Statement?
An account statement is a periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly. Monthly credit card bills are also considered account statements.
KEY TAKEAWAYS
- An account statement is a periodic statement summarizing account activity over a set period of time.
- Account statements can be thought of as a summary of the account and include statements of services provided, fees charged, and money owed.
- Account statements should be scrutinized for accuracy, and historical statements are critical for budgeting.
Understanding Account Statements
Account statements refer to almost any official summary of an account, wherever the account is held. Insurance companies may provide account statements summarizing paid-in cash values, for example. Statements can be generated for almost any type of accounts that represent ongoing transactions where funds are repeatedly exchanged. This can include online payment accounts such as PayPal, credit card accounts, brokerage accounts, and savings accounts.
Utility companies, as well as telephone and subscription television service providers, usually generate account statements for their customers detailing their usage and any overages during the payment cycle. Such statements typically list debits paid, incoming funds or credits received by the account holder, and fees associated with maintaining the account. For example, certain types of savings accounts might incur regular maintenance fees unless a certain minimum balance of funds is maintained in the account. Cable television subscriptions may include state taxes and other surcharges that are included in providing regular service.