Statement of Account
A statement of account summarises all invoices, payments, and the balance owed.
A statement of account lists every invoice issued, every payment and credit applied, and the resulting balance over a period — usually monthly. Unlike an invoice, it does not demand payment for a single transaction; it shows the whole account position. Suppliers send statements to prompt payment and help customers reconcile.
Example
The March statement shows invoices of $8,000, payments of $5,000, and a balance due of $3,000.
Related terms
Frequently asked questions
Is a statement the same as an invoice?
No. An invoice bills a specific transaction; a statement summarises the account — all invoices, payments, and credits — and the net balance. Statements support invoices; they do not replace them.
How often should statements be sent?
Monthly is standard for active accounts. Sending them regularly catches discrepancies early and keeps your balance in front of the customer's payables team.
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