Bank Statement
Back to GlossaryWhat is Bank Statement? A bank statement is a periodic report issued by a financial institution that summarizes all transactions—deposits, withdrawals, fees, and interest—within a specified account over a set period, typically monthly. It serves as an official record for reconciling a company’s cash balance with its internal accounting records. Finance leaders use bank statements to verify accuracy, detect errors or fraudulent activity, and ensure cash flow transparency. Regular review and reconciliation of bank statements are crucial for maintaining financial control and supporting accurate financial reporting.
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About Serrala
Serrala is the global market leader and pioneering innovator in finance process automation. Our award-winning suite of applications gives finance leaders the power to evolve, optimize their working capital and streamline all workflows, planning, and compliance, by automating all operational processes across Order to Cash, Procure to Pay, Cash Flow Management, and Treasury.
Serrala’s AI-powered finance automation suite is trusted by thousands of organizations worldwide to gain real-time insights and create operational excellence through high performance engineering and seamless integration.
Serrala has been advancing the office of the CFO for over 40 years with solutions that accelerate growth, enhance decision-making, and achieve sustainable finance success.