Sample Statement of Account Template
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Document Overview
A statement of account is commonly used by businesses in Kenya to help customers confirm how much they owe, track payments made, reconcile records, and follow up on unpaid invoices.
It mostly entails;
1. Business details
Name of the business, address, phone number, email, KRA PIN, and logo if available.
2. Customer details
Customer name, address, contact information, account number, or customer reference.
3. Statement period
The date range covered, for example, 1st June 2026 to 30th June 2026.
4. Opening balance
The amount the customer owed or had as credit at the beginning of the statement period.
5. Transaction details
A list of invoices, payments, credit notes, debit notes, discounts, penalties, or adjustments.
6. Dates and references
Transaction dates, invoice numbers, receipt numbers, payment references, or cheque/M-Pesa transaction references.
7. Amounts charged and paid
The debit column shows amounts billed, while the credit column shows payments or reductions.
8. Closing balance
The final amount payable by the customer or the amount carried forward.
9. Payment instructions
Bank account details, M-Pesa Paybill/Till number, account name, payment deadline, and any remarks.
Purpose of a Statement Account
1. To provide a clear summary of financial dealings between a business and a customer.
2. It helps the business follow up on outstanding balances, remind customers to pay, and maintain proper accounting records.
3. It also helps the customer verify invoices, confirm payments made, detect errors, and reconcile their own records.
4. In Kenya, it is especially useful for businesses that sell goods or services on credit, schools issuing fee balances, landlords managing rent payments, suppliers dealing with repeat clients, and professional service providers billing clients over time.
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