STATEMENT OF ACCOUNT

1. What is Statement of account and Invoice?

A Statement of account is a billing document sent to customers to provide an itemize list
of the service or products they have received, as well as the associated charges.

A Invoice is a payment request containing billing party details, good/services description,

service dates, itemized cost, payment terms, and transaction information.

2. The part of Statement of account and Invoice?

Statement of account:
 A transaction summary
 The statement period (such as a month or quarter)
 A reference number for identification
 The customer's name and account number
 Your business name
 A list of transactions with dates
 References to the original invoices or purchase orders
 The new balance and total balance for the current period
 Any past due amount
 The date the statement was prepared
 Credit notes usually shown as a negative value

Invoice
 A request for payment
 The name, address, and contact information of the person or company billing
 A description of the goods or services provided
 The date services were performed
 The amount due for each line item
 Terms of payment (due date, discount percentage for early payment).
 Any other relevant information about the transaction including late payment fees.

3. What is different statement of account and Invoice?

The different is that an Invoice is a request for payment.
Examples of invoices are, payment requests on Shopee, TikTok shop and other e-
commerce.
While an statement of account is a summary of what the customer owes.
Example of a statement of account is a payment bill on Shopee Paylatter.