A business bank statement includes a summary of all transactions made with your business account.
Each statement covers a set amount of time, known as a statement period.
A business bank statement includes an account summary, also known as a transaction history, which includes the following: your beginning balance, your ending balance, every withdrawal, every deposit, total withdrawals, total deposits.
Advantages of a business bank statement:
○ helps you keep track of your income and expenses
○ helps you spot any irregularities in your account, such as fraudulent activity or identity theft
○ provides a snapshot of your company’s financial health, including information on deposits, withdrawals, and balances, which helps lenders assess lending risks
