Reviewed & updated by M. Hameez·
Updated
Originally published
A monthly billing invoice statement is used to record all the purchases made and invoices issued during a month. It includes previous balances, amounts due, aging information, and a remittance section. You can record all the details about your customer’s invoices for the month in this invoice statement.
This invoice statement is a document that is used to list each amount that is due, indicate whether any previous payments have been made, and then calculate the outstanding balance.
The remittance section of this statement is for use by customers to indicate the amount they have paid. The statement is used as a notification sent to a specific customer who has received an invoice but whose payment is still outstanding. This customer has ongoing transactions with the business, including purchases and payments.
Using the statement
The monthly billing invoice statement provides a summary of the customer’s balance and is used as a request for payment of the outstanding balance. The statement should be sent to the customer a few days after the invoice is sent and before the end of the first billing cycle agreed upon with the customer.
If payment is not received by the end of the second billing cycle, another billing invoice statement should be sent to the customer. This second statement will be a step in the collection process.
Business & Statement Details
Customer Details
Opening Balance & Adjustments
Remittance & Payment Instructions
Statement SummaryFinal Review
MONTHLY BILLING STATEMENT
BILL FROM
BILL TO
ACCOUNT
PAYMENT TERMS
Invoice Activity
Date
Invoice #
Description
Charges
Payments / Credits
Balance
Previous Balance
New Charges
Payments / Credits
Adjustments
AMOUNT DUE
Aging Summary
Payment Information
REMITTANCE SECTION
REMIT PAYMENT TO
CUSTOMER PAYMENT
Account:
Statement:
Amount Due:
Amount Paid: __________________
What is the purpose of a monthly billing invoice statement?
The invoice statement is issued to a specific person to let them know how much they have to pay by the due date. The total amount to be paid after the due date is also mentioned in the billing invoice.
The invoice contains the total balance as well as the total amount of purchases. Generally, the statement is issued after services have been provided. For example, when a patient is discharged from the hospital, a billing statement is issued to them. Details of previous and current balances are also mentioned in the invoice.
What is the common information mentioned in the statement?
Monthly billing statements are commonly used by credit card companies to document all purchases customers have made using their credit cards. The statement includes the following details:
The total amount the customer owes
Details of all the purchases made by the customer
Cash withdrawal details
The minimum payment required
The payment due date
Details of the credit limit
The terms and conditions of the company issuing the invoice statement
The aforementioned details are commonly included, but the information may vary from one statement to another. You can add more details specific to your billing statement.
The customer should read the monthly statement carefully to keep track of their purchases. They can compare the transaction history listed in the statement with their records. It is advisable to make the payment as soon as you receive the billing invoice statement to avoid additional charges for paying after the due date.
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