A bank statement is a financial document that reflects the movement of funds in a current or checking account. It is a copy of the records on the current account in the bank.
What is a bank statement
The correct title for this document is "bank statement". It contains all the information about monetary transactions made from the current account of an enterprise or an individual entrepreneur. The statement allows the client of the bank to track the movement of funds in the bank account: crediting of funds, payments made, bank commissions. Account statements are generated by the bank automatically on a daily basis, if there was a movement of funds on the account. In any case, the client has the right to request a statement of his current account at any time convenient for him.
All businesses are required to comply with cash discipline. This means that the organization, regardless of the type of taxation, must accurately fill out the cash book, where cash receipts and expenditures are recorded. An important place in it is occupied by bank statements - they serve as proof of the amount of cash proceeds, expenses of the enterprise and the basis for calculating income tax or STS or reducing it by the amount of expenses. In any case, financial statements cannot be reliable if the accountant does not have current bank statements.
What a bank statement looks like
This document states:
- the date of the transaction on the account;
- type of financial transaction;
- Document Number;
- BIK of the beneficiary's bank;
- bank correspondent account;
- the payer's current account;
- the beneficiary's current account.
Cash flows are shown in the Debit and Credit columns. Unlike accounting rules, the bank reflects the debiting of funds from the account for the Debit of the account, and the receipt for the Credit. The accountant of the company must carefully check the compliance of the bank statements with the performed payment transactions. In case of discrepancies - immediately report to the bank. For the accuracy of accounting, statements should be kept together with expense documents (payment orders), in order to avoid their loss.
If you need to get a duplicate bank statement, you need to write an application to the bank. Problems with providing a copy of the document should not arise, but the bank charges an additional fee for this procedure. Individuals who actively use their current or correspondent account are also entitled to receive statements on their account.
If a bank statement is required for submission to the supervisory authority, it must be certified by the signature of the specialist who issued it and the seal of the bank. In all other cases, this is not required.
