A business bank statement is a summary of all of your business transactions for a specified statement period. It includes an account summary and information about your bank, business, and bank account. 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
3 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
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