Download ready-to-use Billing Statement Template in Excel, Google Sheets, and OpenOffice Calc to prepare the client’s outstanding report in just a few clicks.
Billing Statement will also help us to prepare multiple customer’s billing statements quickly and easily in a very short period.
Our Billing Statement Template consists of Accounts Receivable amounts. You can prepare this statement for a particular customer along with their payment history.
Table of Contents
What is a Billing Statement?
A billing Statement consists of accounting details, and billing status, etc, of your customer/client all in one statement. It is also helpful in tracking invoices.
In other words, it records the outstanding amount against goods or services sold on a credit basis for a particular customer.
In simple terms, it is a timely accounts receivable statement for a particular client/customer. The time depends upon the credit policy of the company. It can be weekly, bi-weekly, or monthly.
Purpose of Billing Statement
The main purpose of a billing statement is to keep an eagle’s eye on your receivable. Long outstanding or accounts receivables hinder the cash flow of the business.
Regular submission of the billing statement to the clients helps in the timely collection. Additionally, it also helps us to define the credit period for our clients.
What is included in a billing statement?
A billing statement consists of the following:
Customer Information: This includes customer name, customer id, address, etc.
Billing Statement Details: In this section include billing statement number and date of issue.
Supplier’s Remittance Details: Remittance details include your bank details to which the customer has to make the payment.
Accounts Summary: This section displays the summary of the outstanding amount along with the due date of payment.
In addition to the above, the billing statement consists of invoice and payment details.
Invoice Details: This section consists of details like Date of issue, invoice number, and invoice short description.
Payment Details: THe payment details section includes the payments made against the respective invoice.
Outstanding Balance: Outstanding balance column displays the outstanding balance against each invoice.
Signature Section: In the end, it consists of the signature section.
Billing Statement Template (Excel, Google Sheet, and OpenOffice)
We have created a Billing Statement Template that has professional looks. You can customize it according to your needs as and when required. This template is useful if you are receiving regular bi-monthly or monthly payments from that customer.
Important Note: To edit and customize the Google Sheet, save the file on your Google Drive by using the “Make a Copy” option from the File menu.
Let’s discuss the Billing Statement in detail.
Content Billing Statement Template
Billing Statement Template contains two sections as mentioned below: Heading Section and Data Input Section
This Section includes headings like Company Name, Billing Statement, Customer Name, etc as shown in the above image.
Just after that, there is the Remittance section. Remittance includes all details like your Bank details like Bank Name, Bank A/c number, and Branch Code, etc.
Next to the Remittance section on the right-hand side is the Account summary. This section includes subheadings like Balance due, the due date of payment, and other payment-related instructions.
Below the Account summary come the Notes, where you can put notes for your customer as required.
I have put here a note for the customer to include their customer id behind the check.
Data Input Section
This section consists of headings like Date, Invoice number, Payments… etc as shown in the above screenshot.
The balance amount here is calculated by deducting the payment amount from the total invoice amount. The previous Balance Amount of the bill is also reflected in the last column.
Note: Don’t include the invoice amount again and again for the same invoice to get the exact receivable.
After that, there is the Total Amount of Balance as on the statement issued to date.
Last but not least, there is the signature area for the issuer and the receiver of the Billing Statement.
In the end, the contact details of the Accounts department are given. If the customer has any discrepancies or queries related to the statement, he can contact them and sort it out.
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Frequently Asked Questions
What is the difference between a billing statement and an invoice?
An invoice is a legal binding to make payment for products or services purchased. Whereas a billing statement is the presentation of a summary that highlights the outstanding balance against multiple invoices.
What is the accounting effect of a billing statement?
There is no accounting effect of a billing statement. It is just a summary of invoices along with payments.