Statement of Account
/ˈsteɪtmənt əv əˈkaʊnt/
Definitions
- (n.) A detailed record provided by a creditor or financial institution summarizing the transactions, charges, payments, and balance of an account over a specific period.
The bank sent me a statement of account showing all activity for the past month.
- (n.) A document used in legal or commercial disputes to present the financial status between parties, often used as evidence of debt or credit.
During the audit, the company produced a statement of account to verify the outstanding invoice amounts.
Forms
- statement of account
- statements of account
Related terms
See also
Commentary
Statements of account are formal documents typically used to verify or reconcile financial dealings; precision in dates and figures is essential for legal reliability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.