Customer statement of account
A customer statement of account is a summary of what one customer bought, paid and still owes over a period. It starts with an opening balance, lists orders and payments in date order, and ends with a closing balance, usually with an ageing breakdown of what is overdue.
Colpay is instalment payment tracking software for Malaysian businesses that sell on monthly instalments, such as memberships, courses and subscriptions. Colpay creates customer statements from the orders and payments you already record, saves them as a PDF or spreadsheet, and sends them to customers one by one or in bulk. Colpay is a tracking and communication tool; it does not collect or move money for you.
Facts checked .
What a statement adds up
Opening balance, plus orders in the period, minus payments in the period, equals the closing balance. Ageing then shows how much of that balance is overdue.
What is a customer statement of account?
It is one document that lists every order and payment for a customer between two dates and shows the balance still owed at the end. Businesses send it so the customer can check the balance and pay what is due.
A statement of account is a summary of what a customer bought, paid and still owes over a period.
Statement vs invoice
An invoice asks for payment for one sale. A statement brings all of a customer's sales and payments together, so it shows the whole balance, including amounts from several invoices or instalment plans.
Statement vs receipt
A receipt confirms one payment you received. A statement shows that payment alongside everything else on the account, so the customer can see what is left to pay.
When to send one
- On a regular cycle, such as once a month.
- When a customer has several unpaid items.
- When a customer asks for their balance.
What does a customer statement show?
A Colpay customer statement shows five things: the opening balance, the orders in the period, the payments in the period, the closing balance, and ageing.
| Part | What it means |
|---|---|
| Opening balance | What the customer owed at the start of the period, carried over from earlier orders and payments. |
| Orders | Sales made to the customer during the period, with their dates and amounts. These add to the balance. |
| Payments | Money you recorded as received from the customer during the period. These reduce the balance. |
| Closing balance | What the customer still owes at the end of the period: opening balance plus orders minus payments. |
| Ageing | How the unpaid amount splits by how long it has been due, so you and the customer can see which part is oldest. |
In Colpay, statement ageing follows the unpaid months of each customer's payment schedule. It is not a count of exact days since each invoice date. Payments from older records that were never linked to an order can be shown on a separate line, so they are not hidden inside the totals.
What does a statement of account look like? An example layout
A clear statement reads from top to bottom: who it is from, who it is for, the period, a dated list of orders and payments with a running balance, then the closing balance and ageing.
This is an example layout, not a real customer's statement. The sample table below uses made-up round numbers.
Header
- Your company name, logo and contact details.
- The customer's name and contact details.
- The statement period: start date and end date.
Opening line
- "Balance brought forward" on the start date.
- This is the opening balance from the previous period.
Activity lines
- One line per order or payment, in date order.
- Each line has a date, a description or reference, and the amount added or taken off.
- A running balance after each line.
Totals and ageing
- The closing balance on the end date.
- An ageing summary of the unpaid amount.
- How to pay, and who to contact about the statement.
Example only The customer, dates and amounts below are made up with round numbers to show how the parts add up. They are not a real customer, a recommendation or a Colpay screen.
| Date | Description | Added (RM) | Taken off (RM) | Balance (RM) |
|---|---|---|---|---|
| 1 Sep | Balance brought forward | 1,000 | ||
| 5 Sep | Order 001 | 2,000 | 3,000 | |
| 15 Sep | Payment received | 500 | 2,500 | |
| 30 Sep | Payment received | 1,000 | 1,500 | |
| 30 Sep | Closing balance | 1,500 |
The arithmetic: 1,000 + 2,000 − 500 − 1,000 = 1,500. Example ageing of that closing balance: RM 500 not yet due, RM 500 one month overdue and RM 500 two months overdue.
How do you create and send customer statements in Colpay?
Choose the customer and the period, then download the statement as a PDF or spreadsheet, or send it. You can send statements one by one or to a group of customers in bulk through the channels you have connected.
Built from your records
The statement uses the orders, instalment plans and payments you already keep in Colpay, so there is nothing to retype. Each customer's profile also shows their orders, payments, balance and documents in one place.
PDF or spreadsheet
Save a statement as a PDF to send to the customer, or as a spreadsheet to check the figures or share with your bookkeeper. Supplier statements work the same way for what you owe.
One by one or in bulk
Send a single statement, or send statements to a selected group of customers at once. Colpay saves a copy of each statement as sent, and customers open it through a download link that expires.
Sending works through the email or messaging channels you have set up, and results depend on that setup and the customer's contact details. Check the sending results after a bulk send. Anyone who has a statement link can open it until the link expires, so send it only to the right person.
Statements fit alongside your other paperwork: invoice software for Malaysia, WhatsApp payment reminders and accounting software.
Can a statement of account be used as a payment reminder?
Yes. When a customer has several overdue items, a statement shows the full amount owed in one document, which is easier to act on than separate invoices.
Pair it with a reminder
Colpay's overdue reminders can combine all of a customer's overdue plans into one message, by email or WhatsApp once your WhatsApp connection is set up. Send the statement with it so the customer has the details.
Keep the wording polite
Name the customer, the closing balance, the due date and how to pay. For wording you can adapt, see payment reminder message examples. If you charge late fees, follow your agreement: how to calculate late payment fees.
Is there a customer statement of account spreadsheet template?
Not yet. A downloadable statement template is planned, and this page will link to it once the file is ready. Until then, the example layout above lists the parts to include.
If you keep statements in a spreadsheet today, Colpay can produce each customer's statement as a spreadsheet from your records instead.
What a statement template needs. If you build your own, use these columns, in this order:
| Column or field | What to put there |
|---|---|
| Header | Your company name and contact details, the customer's name, and the start and end dates of the period. |
| Date | The date of each order or payment, oldest first. |
| Description or reference | The order, invoice or payment it relates to. |
| Added | The amount of each order, which increases the balance. |
| Taken off | The amount of each payment received, which reduces the balance. |
| Balance | The running balance after each line, starting from the balance brought forward. |
| Closing balance and ageing | What is still owed on the end date, split by how long it has been due, with how to pay. |
Frequently asked questions
Answers to questions people search for about statements of account and payment reminders.
What is statement of account?
A statement of account is a summary that shows what a customer bought, what they paid and what they still owe over a period. It starts with the opening balance, lists the orders and payments in date order, and ends with the closing balance. In Colpay, a customer statement also shows ageing, and can be saved as a PDF or spreadsheet or sent to the customer.
Wording and sending steps are in the payment reminder message examples.