A bank statement template is an example of banking document which is known as bank statement and holds the record of all your transactions, withdrawals, credit/debit card information, and total amount in your bank. This statement is provided to the account owner by the bank itself so they can observe their bank balance and track their expenses. This list allows the account holder to ensure that they are well aware of all the places their money is being used and the amount that is left. The bank provides this statement to the account holder when they ask for it. Most business owners, students, employees, entrepreneurs or any individual irrespective of their occupation can use a bank statement to analyze and gain in-depth knowledge about their finances.
Bank Statement and Its Usage:
A bank statement can be used by anyone, but some of the major people that use bank statements are mentioned below:
By Business Owners: bank statements are used by business owners to track their income, spending, transactions and track the places where their money is being used. It enables the owner to have a proper record of their finances and be able to control them.
By Students: Usually when students are applying for any university (abroad or in the country), the university asks for their bank statement. The reason why they ask for the student’s bank statement is so they can ensure that the student is financially capable of paying the university fees and other expenses.
Individuals: Any individual such as an employee, sales man or anyone else can need a bank statement to see how much balance is left in their bank and all the transactions they have made. This way the individual is allowed to gain control over their expenses and spend the rest of their money sensibly.
Bank Statement and Its Benefits:
Having a bank statement with you can benefit you in multiple ways. Each of the above mentioned group of people have distinct benefits from a bank statement. In general, when someone possesses a bank statement, they basically have a record of all of their past transactions, where they were made and how much bank balance is left. It allows the account holder to be able to control their future expenses and compensate for the losses they have faced in their past spending. When the account holder has their bank statement, they can enhance their financial status by establishing better spending habits and prioritizing their expenses.
What is Included in a Bank Statement?
The bank statement template always starts off with general information about the bank and account holder. The name of the bank, branch, address and registration number along with detailed information about account holder such as their name, account number, account type (savings, or business), total balance in the account and the contact information of the individual. After this the statement is composed of the number of transactions along with their details (date of transaction, amount of money extracted, purpose, credit, balance, and debit). At the very end of the bank statement the total bank balance is stated for the understanding of the reader.
Template for Bank Statement
