How to Create Account Statement in Excel (with Easy Steps)

Excel is the most widely used tool for dealing with massive datasets. We can perform myriads of tasks of multiple dimensions in Excel. In this article, I will show you how to create an account statement in Excel.

Introduction to Account Statement

An Account Statement is a document that details all transactions between you and a specific customer over a specific time period. Generally, organizations send account statements to inform customers about credit sales they have made during that time period.  This gives a summary of all the transactions which includes the payments done by the customers too. The time period can be a month, quarter, or year.

How to Create Account Statement in Excel: 4 Easy Steps

Now, I will illustrate how to create an account statement in Excel. For convenience, I have divided the entire process into 4 easy steps. Let’s see the steps one by one.

Step 1: Prepare an Appropriate Outline

The first step is to create an outline for the account statement. There is no fixed rule or template for an account statement. An account statement generally contains the details of

• The organization.
• The customer.
• The transactions &
• A summary of the account.

Here is a sample of how it can be.

Step 2: Write Down Necessary Transactions

The next step is to write down the transactions that took place over the time period. Each transaction should have a date and a short description.

• The Ref column indicates the Invoice number for that specific transaction.

Step 3: Calculate Net Balance

Next comes the calculation of the balance. To do so,

• Go to G18 and write down the following formula

• Then, press ENTER to get the result.

• After that, use Fill Handle to AutoFill up to G22.

Step 4: Summarize Statement

Finally, I will add a summary to the account statement. This will include the time period, total payments, total charges, and the balance due.

• To calculate the total charge, go to H8 and write down the following formula

• Then, press ENTER to get the output.

• Similarly, to calculate the total payment, go to H9 and write down the following formula.

• Then, press ENTER to get the output.

• Similarly, you can calculate the balance due from the transaction. This is $1900.
• Finally, the summary becomes:

Things to Remember

• The previous balance due is from the due that was in the previous time period.

Download Practice Workbook

Download this workbook and practice while going through the article.

Conclusion

In this article, I have explained how to create an account statement in Excel. I hope it helps everyone. If you have any suggestions, ideas, or feedback, please feel free to comment below.

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