When a client has several invoices open across one or more jobs, a reminder about one invoice is easy to put aside. A statement puts everything on one page: what was billed, what was paid and what is still due, oldest first.
Send it every month to clients with money owing, and attach it when you chase a late payment. It also helps their accounts team match your invoices against what they have on file.
What goes on a statement of account
- Your company and the clientNames, addresses and the “as at” date the statement is made up to.
- Every open invoiceInvoice number, date, job or project, due date and the invoice amount.
- Payments and notesMoney received against each invoice, and any credit or debit note.
- Balance and days overdueWhat is still owed on each invoice, and how many days past the due date it is.
- Aging summaryThe total owed split into not yet due, 1 to 30 days, 31 to 60 days and over 60 days.
- Total due and how to payThe total balance, your bank details and who to contact.
How to use the template
- Set the “as at” dateUsually the last day of the month. Days overdue are counted to this date.
- List the client’s invoicesEvery invoice with a balance, oldest first, with the due date and amount.
- Enter what was paidPayments received against each invoice. The balance works itself out.
- Check the agingThe summary splits what is owed by how late it is, so you know what to chase first.
- Send it with your bank detailsAs a PDF. For a late invoice, send it with a polite reminder.
Getting paid faster with a statement
- Send it on a schedule. A statement every month tells the client you are keeping track.
- Match their records. Use the same invoice numbers and amounts they received, so their accounts team can find each one.
- Show part payments. A client who paid part of an invoice should see exactly what is left.
- Chase the oldest first. Money over 60 days late is the hardest to collect. Follow it up before it gets older.
Do it in Raul instead
In Raul, pick a client and any “as at” date and the Statement of Account is ready: each invoice with its due date, days overdue, amount, money received and balance, then the aging, the total due and your bank details.
See claims and invoices- Who owes you shows what is owed, aged as not due, 1–30, 31–60 and 60+ days.
- An overdue invoice has a chase letter in three tones: Friendly reminder, Second reminder and Final notice.
- Record payments, part payments too, and credit or debit notes against an invoice.
Common questions
What is a statement of account?
A statement of account (SOA) is a summary you send a client listing every invoice, the payments received and the balance still owed, as at a date.
What is the difference between an invoice and a statement of account?
An invoice asks for payment for one piece of work. A statement lists all the invoices for a client and shows the total still owed.
How often should I send a statement of account?
Monthly is common, usually as at the last day of the month, and whenever you chase a late payment.
What is aging on a statement?
Aging groups the money owed by how late it is, such as not yet due, 1 to 30 days, 31 to 60 days and over 60 days overdue.