GROUP 5

BANK
STATEMENT
WHAT IS A BANK
STATEMENT?
BANK STATEMENT

• A bank statement is a report issued by a bank

to its depositor document the account balance
and activity during the period.
• A bank statement is a record, typically sent to
the account holder every month, summarizing
all the transactions in an account throughout
the time from the previous statement to the
current one.
BANK STATEMENT

During reconciliation of their account with the

bank's records, account holders should check
their bank statement for discrepancies. Account
holders must report discrepancies in writing as
soon as possible. A bank statement is also
referred to as an account statement. It shows if
the bank is accountable with an account holder’s
money.
BANK STATEMENT

A bank issues a bank statement to an account

holder that shows the detailed activity in the
account. It allows the account holder to see all
the transactions processed on their account.
Banks usually send monthly statements to an
account holder on a set date. In addition,
transactions on a statement typically appear in
chronological order.
 The bank statement report itself usually lists the
THE STATEMENT following:
PROVIDES THE The beginning cash balance in the account
FOLLOWING + The total amount of each deposited batch of checks and cash
INFORMATION: - Funds withdrawn from the account
- Individual checks paid
+ Interest earned on the account
- Service fees and penalties charged against the account
= Ending cash balance in the account
 • Y O U R N A M E A N D C O N TA C T I N F O R M AT I O N
PARTS OF A Data that identifies you typically appears at the top corner or center of

BANK your statement. Make sure the information is correct and that there are

STATEMENT no misspellings. If you find an error, contact your banking institution.

• ACCOUNT NUMBER
A long number that identifies your account, the account number is
located at the top of your statement. It’s different from your bank’s

routing number, which is a nine -digit number that identifies your bank.

You can find your routing number on the bottom left of your check or

online, and use it for electronic transfers and other transactions.

PARTS OF A • ACCOUNT TYPE
This information shows whether you have a checking or savings
BANK account.

STATEMENT • CURRENT ACCOUNT BALANCE

The total amount of money in your account appears under this
heading. Your available balance is all your funds immediately
available for cash withdrawal — this number takes into account
all pending transactions.
PARTS OF A • PENDING TRANSACTIONS:
All transactions that are still pending are listed here.
BANK
• B A N K C O N TA C T I N F O R M AT I O N
STATEMENT This includes the name, address and phone number of your
financial institution.
PARTS OF A • TRANSACTION HISTORY
All of the transactions you’ve made during the statement period
BANK appear here, including deposits and withdrawals.

STATEMENT • T R A N S A C T I O N D AT E
This shows the date the transaction was processed.
PARTS OF A • CREDITS
This shows all credits or deposits you made to the account.
BANK
• DEBITS
STATEMENT his shows all debits or withdrawals you made during the
statement period.
PARTS OF A • T O TA L F E E S
This shows all fees you accrued, including account, transfer and
BANK overdraft charges.

STATEMENT • DEBIT CARD/POS ACCOUNT ACTIVITY

The date and description of all your debit or point -of-sale
transactions are listed here.
REFERENCES

https://www.myaccountingcourse.com/accounting -
dictionary/bank-statement
https://www.investopedia.com/terms/b/bank -statement.asp
https://www.accountingtools.com/articles/what -is-a-bank-
statement.html