Statement of Account
A statement of account is a summary you send a client that lists several jobs or invoices. It shows what is paid, what is owed, and the running total. It covers the whole client relationship.
What it means
Most invoices cover one job. A statement of account gives the wider view. It lists every invoice you sent a client over a stretch of time. It marks which ones are paid and totals what is still outstanding. Use it when a repeat client has several jobs open and one invoice number no longer tells the whole story.
It runs the opposite way from remittance advice. Remittance advice is a note the client sends you. It confirms a payment and says which invoice it covers. A statement of account is a note you send the client. It sums up everything you are still owed across every invoice on file. One confirms money that already moved. The other asks for money that has not.
A statement does not replace the original invoices. Each one still carries its own line items, due date and terms. The statement is a cover sheet on top of them. It helps once a client has more than one or two jobs open. Without it, they would have to check several emails to see the total.
A regular client has three invoices open: one paid, one part-paid, one not yet due. You send one statement of account instead of three chase emails. It lists all three, the amount still owed on each, and a total of $740 outstanding.
Sending a full statement of account to a client with only one open invoice. A plain invoice or a normal reminder does that job. A statement is for when there is more than one line to sum up.
See also
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