Statement of Account is a document, issued by the service provider to its customer, listing all accounting transactions posted to his account over a given period. The statement of account includes details of invoices, payments received and any credits approved with a resultant balance payable by the customer.
Statement of Account also provides summary of all the charges such as monthly rentals, call charges, discounts etc. This section in Statement helps you to understand the calculation of your amount due in every bill. Statement of account is generated only when there has been any transaction processed on an account.
The bill called as Statement of Account (SOA) provides the following information:
Charges that need to be paid for the services availed.
Discounts if any on the billed charges.
Adjustments given to the charges.
Taxes to be paid for the service availed like service tax etc.
Statement of account also displays customer's other details like, previous balance, payments received, adjustments, current charges, amount due, and address.
Along with Statement of Account a summary sheet showing the details of all these charges, taxes, discounts and adjustments is attached. The summary sheet may contain details of the charges paid to sibling accounts in case of hierarchies.