Bookkeeping › Sales & Purchase Ledgers

What is a statement of account sent to customers?

Beginner

Answer

A statement of account is a periodic summary sent to a credit customer listing opening balance, invoices, credit notes, payments received, and the closing balance owed. It reminds customers of amounts due, helps them reconcile, and supports collection. It's produced from the customer's sales ledger account.
Real-world example At month-end each customer receives a statement summarizing their invoices and the balance to pay.

Common follow-ups: What information does a statement contain? | Which ledger produces it?