![]() ![]() ![]() ![]() It can help with financial planning and budgeting. Account holders can get a good estimate of monthly revenues and expenses by analyzing their bank statements for the last few months. Most bank statements show transactions in chronological order.īy looking at a bank statement, one can see exactly how much, where, and when the account holder spent money. The closing balance is calculated as Opening Balance + Deposits – Withdrawals.īelow the account summary, the bank statement shows every transaction the account holder engaged in, along with the corresponding payees, dates, and amounts of the transactions. It also contains a summary table that shows the time period, opening balance, deposits, withdrawals, and closing balance. The top of a bank statement generally shows the name of the account holder along with sensitive information such as bank account number and branch number. They are also commonly known as account statements or transaction summary statements. Bank statements are generally prepared by the bank for the account holder at the end of each month.īank statements can be found online via online banking or be obtained from a branch of the bank. A bank statement is a monthly financial document that provides a summary of the account holder’s activity.
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