statement of account

Meanings

1. 1nouncountable

   A document listing the payments, charges and balance on an account over a set period, sent by a bank or supplier.

   Grammar: Countable: send a statement of account; several statements of account.

   Patterns

   • a statement of account for a period
   • a statement of account from someone

   The bank mails a statement of account on the first of every month.

   The supplier sent a statement of account showing three unpaid invoices.

   Please check the statement of account against your own records.

2. 2nouncountablelegal

   In legal proceedings, a formal written report of money received and paid, such as one an executor gives to heirs.

   Grammar: Countable and formal: the trustee prepared a statement of account.

   The executor must present a statement of account to the beneficiaries.

   The court asked for a full statement of account covering the last five years.

Word forms

Common combinations

issue a statement of account

The company will issue a statement of account at the end of each quarter.

request a statement of account

I requested a statement of account to find the missing payment.

monthly statement of account

Your monthly statement of account is available online.

reconcile the statement of account

The accountant reconciled the statement of account with the ledger.

dispute a statement of account

They disputed the statement of account because of a double charge.

Synonyms and how they differ

bank statement

A bank statement covers only a bank account, while a statement of account can come from any supplier or lender.

invoice

An invoice asks for payment for one purchase, whereas a statement of account summarises many transactions.

ledger

A ledger is the full internal record a business keeps, not a document sent to the customer.

Word family

statement noun

a formal report or document

account noun

a record of money transactions

accountant noun

a person who keeps financial records

accounting noun

the work of recording and reporting money

Commonly confused: statement of account or account statement?

Practice

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Write a sentence using “statement of account”, then check it and compare it with the examples above.

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