It’s critical to keep a clear line of communication with your customers if you want to build strong relationships and loyalty. These factors all play a role in your company’s success. A billing statement is one tool that can help you improve your communication with your clients. The statements are usually sent out once a month at the end of each billing cycle. This is the document that credit card companies use the most, but it can be used by any company that charges customers on a regular basis. The invoices that the customer has not paid yet, or a list of products or services that need to be paid, are normally itemized on the billing statement that the business sends to the client.
10+ Customer Billing Statement Samples
A billing statement is a monthly report sent to credit card holders that details recent transactions, the monthly minimum payment due, and other important details. At the end of each billing cycle, billing statements are sent out. Credit cardholders, for example, can receive their billing statements by mail or online. Billing statements are an important form of communication because they show a borrower the minimum monthly payment required to keep their accounts current. It also includes information such as the transactions that occurred during the month, the total interest charged for the month, and any fees that the credit issuer added to the balance.
1. Company Customer Billing Statement
2. Customer Billing Account Receivable Statement
3. Customer Billing Statement
4. Customer Billing Payment Statement
5. Customer Billing Request Statement
6. Customer Billing Policy Statement
7. Rental Company Customer Billing Statement
8. Customer Service Billing Operation Statement
9. Customer Billing Functional Statement
10. Customer Monthly Billing Statement
11. Customer Charges Billing Statement
What’s Inside a Customer Billing Statement?
- Typically, a billing statement is broken down into several sections. The cardholder’s previous balance, payments, and credits (how much they’ve paid toward their balance plus any merchant refunds) are all listed in one section, along with the total dollar amount of new purchases made during the most recent billing cycle, balance transfers, cash advances, fees charged, the interest charged, and the new total balance.
- A billing statement also tells the borrower how much money they owe and when they have to pay it to avoid a late fee. Borrowers with revolving credit accounts have an open line of credit that they can pay down and reuse each month. The credit issuer generates the minimum monthly payment each month, which allows the borrower to pay down their balance and keep their account in good standing and their credit line active.
- The cardholder will find account information in another section of the billing statement. This section will display detailed account information such as the cardholder’s total credit limit, amount used, and remaining credit limit. It will also display the available amount of a cash advance.
The benefits section of the billing statement may be of interest to borrowers with rewards credit cards. This section displays the number of points a cardholder has accrued toward rewards.
Account Transactions
The disclosure of transactions takes up a significant portion of a credit card billing statement. Typically, at the start of the transaction report, a credit issuer will provide an itemized summary of interest rates charged by transaction category. Each transaction charged during the billing cycle will be displayed in the account transactions section. The transaction date, post date, merchant name, and transaction amount are typically included in transactions.
FAQs
Why use a billing statement?
Billing statements are an excellent way to communicate with clients and avoid misunderstandings. They provide your clients with a monthly or quarterly summary of all charges made to their accounts. Creating and sending billing statements is both a courtesy to your clients and a useful file for your records. It allows you to compare billing statements from various clients to see where your money comes from on a monthly basis. You can also use this data to gain insights that will help you make better business decisions in the future.
Is a billing statement the same as an invoice?
A statement is a document that lists all of a customer’s outstanding unpaid invoices (or bills). Statements, unlike invoices, are typically sent or made available at regular intervals. Many businesses, for example, send statements to customers who owe money at the end of each month or quarter.
If you want to see more samples and formats, check out some customer billing statement samples and templates provided in the article for your reference.
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