2 min read
Definition
A statement of account lists every transaction on a customer account over a period — invoices raised, credit notes, and payments received — and shows the closing balance owed.
In plain terms
It is the account "bank statement". Sending monthly statements is one of the cheapest, most effective credit-control prompts there is.
Why it matters for your company
Monthly statements catch missed invoices and disputes early, before they become bad debt. See building a credit control process.
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