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Customers build strong relationships with your business when they can see their activity, know they’re spending for the right reasons, and be confident that they’re getting their money’s worth. Download Vencru’s billing statement template today to show your clients that your business is the best for them.
A billing statement is a report business owners send to their clients to show their transactions, payments, and account balances over a certain period. It’s similar to the account statement your bank sends you at the end of every month.
Billing statements are sent to clients after a ‘billing cycle’, at the end of a decided period. Like banks, many business owners send out billing statements monthly so that their clients are better informed of their transactions. Some other business owners send out billing statements quarterly (every three months).
A billing statement is quite different from an invoice. While an invoice is sent out to inform clients of what they owe for specific products or services, a billing statement shows clients how much your business has charged them over a period. Also, a billing statement is less detailed than an invoice.
Billing statements are helpful for a lot of reasons.
First, they are a great way to stay in touch with your clients. Keeping them informed on their spending and confident that they’re getting good value for money will make them love your business all the more. To your clients, billing statements are a mark of professionalism and courtesy.
Also, they help you manage your records better. Besides telling you how each client is spending on your business, they can help you compare the activity of different clients. Billing statements tell you where to channel your energy for your business to grow.
Filling out billing statements is much easier with Vencru’s free template, available for download. Here’s a simple set of steps to fill out your billing statement:
Need more resources for your bookkeeping? Vencru has all the bookkeeping and accounting templates you need to keep your records in check, and they’re free to use.
Even better, Vencru’s reliable bookkeeping platform helps you save time by automatically generating these reports. Vencru keeps all records up to date and gives you more insight into the numbers, so you never have to worry about time-wasting calculations, and you’re equipped to make the best decisions for your clients and your business.