A customer statement, or statement of account, is a summary you send a customer showing all their invoices and payments over a period and the total they still owe. It is one of the simplest and most effective accounts receivable tools: a clear statement often prompts payment on its own.
This free template has a header, a date-ordered table of charges and payments with a running balance, and a total due. It works in Excel or Google Sheets.
If your invoices are in Xero or QuickBooks Online, Paidnice sends customer statements like this one automatically, per customer group, on the schedule you set.
Key facts
- Balance due equals the opening balance plus charges minus payments.
- The IRS says to keep records generally 3 years, or 7 years if you claim a bad debt deduction.
- A bad debt deduction needs reasonable steps to collect, which dated statements help you show.
What is a statement of account?
A statement of account summarises a customer's opening balance, invoices, payments, and total amount due over a period.What should a customer statement include?
Your business details and the customer's, the statement date, each invoice and payment in date order with a running balance, the total amount due, and remittance instructions.How often should I send statements?
Monthly is the norm, often at the start of the month for the previous month's activity.What is the difference between a statement and an invoice?
An invoice requests payment for a specific sale; a statement summarises all outstanding invoices and payments for a customer and shows the total owed.Does it work in Google Sheets?
Yes. Import the Excel file into Google Sheets; the running balance and total formulas work the same.What mistakes should you avoid with this template?
- Leaving out a payment. Skipping RCT-502 shows 4,700 due instead of 3,700, overstating by 1,000 (27%). Post payments when received.
- Mixing up date order. Listing RCT-502 before INV-1003 shows a balance of minus 1,000 on that line. Sort lines by date.
- Using the wrong opening balance. An opening balance 500 too low shows 3,200 due instead of 3,700. Copy last month's closing balance.
Frequently asked questions
How do I calculate the running balance?
In the preview, 0 plus 3,200 is 3,200, minus 1,000 is 2,200, plus 1,500 is 3,700.
How long should I keep customer statements?
The IRS generally says 3 years, or 7 years if you claim a bad debt deduction.
Can I email the statement?
Yes. Export the sheet as a PDF and email it, so the customer cannot change the figures.
Bottom line
Bottom line: This template suits a business with a handful of customers that bills monthly. Move to software when you send more than a few statements a month, since manual updates then cause the errors above.
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Sources
2 sources, checked by Julie Turnbridge on October 26, 2026
- 3 years, or 7 years irs.gov/businesses/small-businesses-self-employed/how-lon...
- reasonable steps to collect irs.gov/taxtopics/tc453
Last updated September 28, 2026. This guide is general information, not accounting, tax, or financial advice.
