Bank Statement
Barron's Accounting Dictionary:
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Bank Statement
Form prepared by the bank and sent to the depositor to show transactions in the account. The bank statement reports the beginning balance, deposits made, checks cleared, charges to the account (e.g., bank service fees), credits to the account (e.g., interest earned on the account balance), and ending balance. Enclosed with the bank statement are the canceled checks, debit memoranda for charges, and credit memoranda for credits.
| Bank Reconciliation, Bank Balance, Balloon | |
| Bank Stress Test, Banker's Acceptance, Bankruptcy (BUSINESS) |
Investopedia Financial Dictionary:
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Bank Statement
A record, usually sent to the account holder once per month, summarizing all transactions in an account during the time from the previous statement to the current statement. The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
Investopedia Says:
Consumers should carefully review their bank statements and retain them for their own records. In reconciling their own record of transactions with the bank's records, account holders should be on the lookout for incorrect or transposed numbers as well as unauthorized transactions. Discrepancies should be reported as soon as possible, in writing if possible.
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Copyrights:
Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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Mentioned in
Account Reconciliation
(finance term)
Deposits in Transit
(in accounting)
Bank Balance
(in accounting)
Bank Reconciliation
(in accounting)
Outstanding Check
(in accounting)
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