Sending the statement of account Letter: Statement of account is the first notification that the customer receives after purchasing goods on credit. Companies usually send the statement before the due date of payment. Sending the statement of account has become a common business practice. Its purpose is to inform the customer about the due amount and due date of payment. It also acts as a means of maintaining contact with customers. To manage the finances of your company in an organized manner and to keep your accounts in place, you must send monthly or quarterly statements to your customers, asking them to make the due payments and settle their account from time to time.
A statement of account is an outline of all sales made to a client during the month and will include any credits issued. It is usually only issued to customers whom the seller has formally accepted to have an account with them, and who have signed sales/purchases terms of the agreement. Statements only require to be sent to clients who have to pay their account in the months following the date of invoice. Statements are regularly sent once a month to remind the customer of what owes.
A statement of account is an outline of all sales made to a consumer throughout the month. It is typically only issued to consumers whom the seller has formally approved to have an account with them, and who have signed the sales/purchases terms of the agreement. You require remaining track of the goods or services you supply. A Statement of Account can facilitate you cross those it’s. When charges are piling up and you’re also giving credit to consumers, it’s simple to make a slip. One transaction mistake can cost you money – or a consumer. Keeping a Statement of Account for each client helps you keep away from mistakes.
Sample Format, (Here is a format which helps you complete this task in a very simple approach)
Client name…
Address and Contact Info…
Dear Sirs,
Attention: PAYMENT DUE
We enclose our Statement of Account for the month of (Month name and date). This is to bring to your notice that your payment for the month of (name and date) stands due. Please note that your payment for (Month name) is due. (Focus on actual situation). We request you to please settle the payment at the earliest. We would be happy if you would send us a cheque as payment.
If you need further information, just contact with ous official, (ex., Mail address, and contact information).
Thank you.
Your name…
Job Designation, e.g., Finance Manager.
Company/Institute name…
[Use the format given above to draft a modified letter sending a statement of account and also asking for payment in an official approach. It is a small and instructive letter written by one business to another. Customers who reimburse correct away when buying your goods or services, or who pay within a short time outline, like 7 days, don’t need to be issued a statement.]
