Filing Tax Returnsīusiness bank statements are used as supporting documents for the business’s tax forms. These statements can help to keep your business accurate and organized. Paper statements can be useful if your business uses a paper-based filing system.ĭownload Template What are Business Bank Statements Used for?īusiness bank statements are an invaluable financial tool for your business. If you prefer a hard copy, your bank can send you a physical paper copy of your business bank statement. This is typically called an e-statement and allows you to view your business bank statement from anywhere with a stable internet connection. You may choose to receive the statement for your business account through a secure website, portal, or email. There are advantages to both types of bank statements for businesses, and the style you choose is at your discretion. There are two ways you can choose to receive this statement – electronically or by paper copy.
How to Receive a Business Bank StatementĪt the end of each statement period, your bank will send out your business bank account statement. This allows a business to better track profit margins and determines how well they are managing their money. This summary will include the balance at both the beginning and the end of the period, with the total amount of money deposited and withdrawn from the business account throughout the period.Īfter the summary, most banks will break down the transactions made by the business, both income and withdrawals, line by line. Most business bank statements will provide a summary of the account over the statement period, which is traditionally one month. This section will have a record of the account name and number. Following that is often a section about your business, including the business name, the business address, and the name of the individual who heads the business bank account. The top section traditionally contains the bank’s general information, like the name and address of the bank.
If your business chooses paper statements, the statement your business receives should be on the official letterhead of the bank you use. There are some commonalities between all business bank statement templates.
Download Template What Does a Business Bank Statement Look Like?īusiness Bank Statements have a variety of appearances depending on which bank your business uses.
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