What is a bank statement
A bank statement is a register of account transactions over a certain period of time. In this case, we mean any account: both a current account belonging to a legal entity or individual entrepreneur, and a personal bank account registered to an individual.
Non-cash payments, as well as payments using bank cards, have become widespread not only among organizations, but also among individuals. People increasingly prefer cards to cash, especially during the coronavirus pandemic. Small businesses represented by the self-employed are moving to the Internet and massively receiving payments for their services on cards. Therefore, it is important to be able to obtain summary information on inflows and outflows made to a bank account. This is precisely the function that a bank statement performs.
Let's look at what a bank statement looks like and how the information in it is structured below.
Purpose of discharge
An extract from the personal account of a residential property contains basic information about the owner, persons living at the specified address, as well as utility payments and debts. This information is relevant when conducting any real estate transactions :
- registration and registration of new residents;
- apartment redevelopment, reconstruction, making other changes;
- drawing up a purchase and sale agreement, leasing premises;
- privatization of an apartment;
- entry into inheritance;
- execution of a gift agreement.
The presence of an extract in any such transaction becomes one of the key conditions for its implementation. At the household level, citizens only need a personal account number - it allows them to pay utility bills and debts on them.
Apartment account number
The owner needs a personal account number to pay utility bills. You can obtain such information from the corresponding receipt - the required set of numbers is indicated opposite the “Financial and personal account” column.
If you don’t have a receipt, you can get a number:
- through the government services portal if you are registered on the website;
- on regional specialized websites;
- by calling the management company - just give the address to get a number;
- through Sberbank if you have a bank card and personal account.
The services offered allow you not only to find out your personal account, but also the amount of debt. This method is relevant when negotiating with a potential buyer or tenant and allows you to verbally indicate the absence of debts.
However, to complete the transaction, obtaining an extract is required. Taking into account this aspect, the question of its execution and the necessary documents becomes relevant.
What does a bank statement look like?
The type of bank account statement may vary depending on the bank and the procedure for its generation. However, in any case, the bank statement contains the following information:
- bank name and full name (name) of the account owner;
- Account number;
- the period for which the bank statement was generated;
- amount at the beginning and end of the period;
- total turnover for the period separately in terms of cash inflows and outflows;
- each transaction of income and expense, indicating the date, amount and purpose of payment.
Here is a sample bank statement for transactions on an individual’s account from 12/01/2020 to 12/15/2020:
For legal entities, a bank account statement plays a more important role than for individuals. We’ll talk about the rules for legal entities working with a bank account statement below, but for now we’ll tell you how to get a bank statement.
How is an extract issued?
A bank certificate for obtaining a Schengen visa is issued by the bank that services the traveler. The Russian must receive this extract at least 30 days before submitting the application. A sample certificate can be found on the bank’s website.
Diplomats in some European countries accept a statement showing the bank account balance. US representatives are less democratic on this issue. Diplomats often ask for information about transactions over the past six months.
The account statement must be confirmed by the seal of the bank branch. In addition, it must be certified by the signature of an employee of this institution. Some diplomats require a round seal. You can also check the sample stamp on your bank’s website. In this case, the processing of the statement may take 3–5 business days. At Sberbank, an extract is issued immediately at the time of application.
If an individual entrepreneur applies for a visa document, he undertakes to provide a high-quality photocopy of the state registration certificate.
Type of state registration certificate
Each European country sets its own requirements regarding the size of the account. Most often, the amount is calculated as follows: 62 euros per day per 1 traveler. The average tourist trip takes up to 10 days. That is, the traveler must have at least 620 euros in ruble equivalent on his account.
Requirements of European States
Each European country has its own requirements for bank statements. To avoid misunderstandings, you need to ask about this issue in advance.
Today it is known that:
- For a British visa, you must attach 2 certificates to the package of documents, one of which must be translated into English.
- A certificate for a French visa must be supplemented with contacts and address of the bank.
- To obtain a visa to Italy, a credit card statement is sufficient.
Translation into English can be performed by bank employees. If the bank does not provide such a service, the applicant must seek help from a licensed translation agency.
Certificate validity period
An important issue is the relevance of the account statement. According to current realities, the certificate is considered valid for three weeks (21 calendar days) from the date of issue.
How to get a bank statement
Since a bank statement is a document of the bank, it is the bank that is obliged to issue it. The methods for obtaining an extract do not differ for legal entities and individuals.
Since most citizens now use mobile or online banking, the easiest way to see account transactions is to order a statement through the application or online banking.
The interface of bank applications is different, so the way to receive a statement is also different. As a rule, you need to select the card for which you are interested in receiving a statement and click the “Statement” icon. Sometimes it is hidden in the “Information” block. Next, you need to select the period for which you want to receive a statement. This could be 1 day or a whole year. Usually the extract is prepared in a couple of minutes, but there may be exceptions.
If you couldn’t find the statement, contact the bank’s technical support or ask a question in the online assistant. In the same way, you receive a statement in Internet banking.
You can also get an extract:
- When visiting a bank with an operator, you must have an identification document. A legal entity receives an extract only through the sole executive body or a person authorized to do so and having the appropriate power of attorney.
- Through an ATM - you must have a card that belongs to the account.
Many banks have a service - receiving monthly statements by email. The statement is generated and sent to the account holder automatically to the email address specified in advance.
What else can you encounter?
The “pitfalls” that Russians who decide to temporarily travel abroad stumble over every now and then also depend on the entry requirements of specific countries. The type of visa document is also taken into account. Thus, for some national study visas of category D, the statement must be made exclusively at the central branch of the bank. In this case, the applicant must wait at least 2 days for the certificate.
Representatives of Austria and the United States are very suspicious of the newly appeared money in the account. Therefore, to obtain a visa to these countries, you need an account statement in which the money has been lying for a sufficient amount of time.
Features of working with statements for legal entities
A bank account statement is an important document for an accountant. It does not apply to primary documents, such as payment orders. Nevertheless, the statement brings together all the primary documents received for the bank during the period.
What does it mean to process a bank statement, what actions should an accountant take?
The financial service employee checks the bank statement and the payment documents attached to it at a frequency appropriate to the business activity, that is, as transactions are carried out on the current account. If there are a large number of payments, this is done daily. For individual entrepreneurs and small businesses, this can be done less often, the main thing is not to miss important cash receipts. The accountant then posts the payments into the accounting program. After this, the program reflects current information about debts incurred or repaid. Based on the extract and its annexes, tax and accounting data are generated.
There are programs that have functionality that allows you to download statements directly from the bank directly into the program. Conversely, payments created in the accounting program can be uploaded directly to the bank.
Bank card statement
Today, the vast majority of Russians use bank cards. This is very convenient, since you can withdraw cash not only in your hometown, but also in any country where there is a unified banking system.
Therefore, many travelers are interested in the question of attaching to the package of documents an extract not from a bank account, but from a card. This is relevant for travelers who are faced with the need to urgently go abroad. Theoretically, your own printout of data on a computer is not quoted. But in practice, the consulates of many countries accept this document. The only requirement is the presence of a bank seal.
Diplomats at the Italian consular office are more democratic on this issue. If a married couple is going on a short trip, then one of them can provide a receipt from an ATM and a scan of a bank card. In this case, the second applicant must submit all certificates according to the specified template. There are no problems with this, and a visa is usually issued to both.
Do I need to print statements?
Frequently asked question: if you have an online bank, should you print statements and keep paper versions? There is no clear answer. But taking into account the trend in the development of electronic document management, storing bank statements on paper, provided that you work in the Internet bank, does not seem to be a rational and necessary action. Moreover, the bank is obliged to store information for at least 5 years.
On the other hand, if there are production needs, bank statements can be printed.
Here is a sample bank statement for an organization's current account. As you can see, there are no special differences compared to a personal account statement.
A bank statement for an individual's account and a legal entity's current account differ in a more detailed description of the purpose of the payment and the payer.
bank statements in word at the beginning of the article.
Financial and personal account for an apartment - what is it?
As a rule, apartment owners wonder where to get a copy of the financial and personal account for the apartment when the sale of the apartment, exchange or donation procedure is on fire. This is understandable: the personal account lists key information about the living space, including technical characteristics and the number of citizens registered in the apartment.
Relatively speaking, a financial and personal account is a certificate with a complete list of data about the premises . An invoice is issued not only for a specific apartment, but also for residential buildings, private properties with buildings, land plots and even rooms. Thus, the account is issued not for administrative units, but for premises - and it does not matter at all whether the premises are located inside a larger premises (room), or whether the premises refers to the entire house (relevant for private houses).
The document looks like an A4-A5 sheet - in some cases there may be several sheets. It contains many tables, divided according to a certain parameter: “Amenities”, “Documents for living space”, “List of residents”, etc. The paper must have the seal of a government agency - for example, the MFC. In addition, the signature of an authorized employee must be affixed.
For your convenience, we have placed below a sample financial and personal account for an apartment below. The sample provided is for illustration purposes only and cannot be used as a payment document.
Results
A bank statement gives an idea of the inflow and outflow of funds from an account over a certain period of time. If we are talking about the accounting of an enterprise, then on the basis of statements and appendices to them - payment documents - the accountant maintains tax and accounting records.
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