Definition
A statement of account is a summary document that lists all invoices, payments, and credits between a seller and one client over a period, ending with the current balance owed. It is not a request for payment for a single sale; it shows the overall position of the account.
Also called: Account statement, Customer statement
Statement of account in practice
Statements are useful for clients with many invoices who want one view of what is outstanding. They are often sent monthly and help resolve questions about which invoices have been paid.
Frequently Asked Questions
Is a statement of account the same as an invoice?
No. Each invoice bills one sale. A statement lists every open invoice, payment, and credit for the client and shows the net balance. Clients pay invoices, not statements.