A business bank statement includes a summary of all transactions made with your business account.
Each statement covers a set amount of time, known as a statement period. A statement period is typically one month.
Business bank statements list transactions individually and in chronological order, allowing you to see a breakdown of the income and spending of your business.
Advantages of a business bank statement:
○ keeping track of income and expenses
○ spotting irregularities or discrepancies
○ securing a business loan
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