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A personal financial statement is a bank document sent monthly or quarterly to account holders. This statement details all transactions that have taken place during a set period of time. It also spells out the bottom line of an account. Statements are important tools for helping account holders spot discrepancies. Most statements are broken into several parts.
The Account Summary
A personal financial statement bank document will generally include an account summary at the top of the report. This will detail the beginning balance, the ending balance and perhaps even the number of transactions, the days in the cycle, and other information. This part of a statement is basically the "executive summary." It will display the important numbers, but will not describe how they were arrived at.
The Detailed Report
After the account summary, most personal financial statement bank documents will offer a blow-by-blow detailing of all transactions that took place during a set period of time. The information here will be offered generally by date and will include:
- all deposits
- all withdrawals, including ATM transactions, checks and pre-authorized withdrawals
- any service charges
- any interest earnings
