Creating a well-crafted billing statement can get you far, not only when it comes to customer-client services but also – if you want to create a good template for future clients.

Establishing a fair approach to spending clients’ money is something that many people overlook, thinking that if they hire you, then they agree to every cost you will incur. Well, that is simply not the case, and there have been many precedents where clients questioned high prices in the billing statement and won in the end.

Being transparent and honest about your spending can present you not only as a person with integrity in this relationship but also – can spread the word about how you go about your business in the industry as a whole.

In this article, we will look at some of the best ways of drafting such a document, presenting you not one free billing statement template but three, and will let you know what kind of software is the best for this task. So, without further ado, let’s get started with some details!

So, let’s start with the last one – software choice. Of course, many programs can take care of this kind of stuff, and there is probably a lot of those that you will be able to utilize to create a pretty good billing statement, but when it comes to the money, we do not leave anything to chance.

In this case, we cannot recommend anything other than Microsoft Office. It is the single best software for any office-related issue, as it is one of the most popular and widely used programs worldwide. Also, it is a reliable and great tool many prestigious companies use.

And it is not that expensive anymore. Because of the hard work of many resellers, such as ourselves, and fierce competition, Microsoft Office can be found for an affordable price. So, if you are looking for something that will help you with your billing statement and make your whole office work much more straightforward, there is no better way than getting the Microsoft Office package.

And with that in mind, let us go into some details of the billing statement, starting with some fresh billing statement templates!

Billing Statement Template #1

First up, we have a basic spreadsheet that can be utilized for many different purposes, starting from something as simple as your ordinary fruit warehouse to something more advanced, like lawyers' fees.

This billing statement template can be easily used and updated by pretty much anyone who has ever touched a computer. Everything in this template is clear, understandable, and, most importantly – interactive. That means you do not need to create some pretty advanced Excel formulas to advance your project.

If you need something simple – this one is the best they come. You can download this template for free at FreshBooks.com.

Billing Statement #2

Next up, we have something fancier with a little “wow” effect if you have a more “stylish” business. It’s a pretty clear billing statement; everything is visible and easy to understand. You can use it in a very formal and high-end professional setting.

And – as we all know it – sometimes presentation is everything. Of course, if it’s a medical bill you have to pay for some ungodly amount of money, you will probably not care that much. Still, this attention to detail is critical in the banking or design industry, where every little detail matters. You can download this template for free at SmartSheet.com.

Billing Statement #3

Finally, we have something great for a more complicated line of work. As you can see, this one gets a bit more complicated. You have a lot more leeway in this template, so it is best to draft something more extensive or – for a more extended period.

This template will probably not be optimal for anyone trying to create something basic and used in everyday life, but rather for something much more advanced. If you have a detailed billing statement from a car mechanic, where every little detail matters, this time, when it comes to serial numbers, you will probably enjoy this one in your work. You can download this template for free at WordTemplatesOnline.com.

So, now that we know everything there is to know about what kind of software we should use when it comes to the billing statement, it is time to explain a little more about the topic at hand – the billing statement.

But, as we presume, it is probably something that you may have come into contact with in your private life. For example, credit card companies usually send out this kind of billing statement monthly to present all the expenses you made during that month.

Regarding billing statements in the professional circuit, it’s pretty much the same thing. When you send out this document, you must put all the expenses you took to provide a service. You may also know it as an account statement. As you probably know, it is one of the most critical documents in the professional world. You must explain every detail of your interaction with the client and put every cost into this statement.

Make this statement clear and accessible. Your client needs to know that they are taken care of and nothing fishy is happening with the service.

So you may ask yourself – what is the difference between an invoice and a billing statement? Those seem to be more or less the same in the end, aren’t they? Well, not exactly. The first difference between them is that if you send out an invoice, you need to itemize all the different things you are selling/had to get to provide a service.

A billing statement is instead an overview of transactions that took place with a less detailed description of each of them.

Also, invoices are usually created before or after a service or sale. A billing statement is usually put out regularly, like when it comes to a credit card statement or a lawyer’s fee and can be requested.

And because of that, you will see that an invoice is a much more detailed document, whereas the billing statement is more or less a template with all the details in the contract.

So, how does it work? Well, you need to know a couple of things if you want to start your journey with billing statements. First, it is a regular thing, so you will need a template.

Also – be sure to provide your client with the essential information on some of the periods when they receive your billing statement. Of course, it is not the most advanced document, but you will probably need to update it semi-regularly, as it tends to differ month-to-month.

There are a few things to consider when drafting a billing statement:

• Billing statement should have a clear and visible outlook of the whole partnership, meaning – what is due, what was paid, minimum monthly payment and when is the next payment supposed to happen; additionally, you can include the late fees withways to mitigate them in the future; it can be a minimum payment, just like in case of a credit card company for example

• Next thing to take into consideration is how is the monthly billing statement calculated; if something is not clear, the client needs to have a way of contacting the party that issued the billing statement and clear-up any confusion, whether it’s the cash advance that you had to make or any weird account activity that they may be suspicious about;

• Billing statement can also be a pretty useful element when it comes to communicating with the client; you can present them with how much you have already accomplished, how much it cost and why you had to partake those costs in order to do the best service possible; for example if you need to buy an advertising supported comparison service, you need to explain why it was necessary, and how you are going to utilize it. Of course, it will not be included in the billing statement, but you need to be able to answer that kind of question.

So, whether you are using a payment coupon or a credit card, there are some things that you need to include in your billing statement. Of course, this list is not final, and there are many things that should be there as well, but you can take it as a boilerplate and modify it according to your needs.

Whether it’s a billing period you need to change, an interest rate, or a closing statement balance, that is specific to your deal and your deal only.

Remember to keep your billing statement concise and precise, as all the information you will put out there can be questioned. Try to avoid any misleading statements or elements put into the document. With that in mind, let’s go over some of the examples.

Dates

Whether it’s a due date or a future payment date, dates are a big part of any billing statement. And – for a reason. There is a lot of information about sending out the costs of providing service, so you need to keep everything under control. As you will probably be sending out the billing statement on monthly basis, it is important to set a specific date and some late fee client charges if anything goes south.

Previous and Current Balance

That is pretty self-explanatory. You need to present the account's current and previous balances. It is vital information for you and the client, as they can prepare for the costs they must intake to satisfy the billing statement.

Invoice Information

If you send out the invoice, adding an invoice number and date in your billing statement is most important. In many cases, the invoice starts the partnership that will later result in a billing statement being sent out monthly. If you are planning to create a longer partnership, keep in mind to add the starting invoice numbers to the billing cycle so that it can be easily accessed when needed.

Received Payments

Payments received are an essential element as they will show the client all the payments they have already made and see if anything is missing or if you are overcharging them. It should be a part of every billing statement you send out.

Due Date

Finally, you need to create a due date to make every party understand what they need to pay and when this payment needs to happen. This part will most likely be at the end of the document, but you should not consider it less important simply because of this fact. This information is critical, not only for the client but also for you, as a company, so you can know when you should start to count the late fees.

Thank you so much for checking out our billing statement piece on everything there is to know about these recurring documents.

It’s the easiest to use with a good template because you probably don’t want to create another document repeatedly simply to reiterate the same thing.

Just remember that creating such a document can not only get you money but also – can state your reputation. If, for some reason, the client tries to question any single element of your billing statement, you need to be able to defend it and show them proof of your work. Of course, it is not saying that everything in there needs to be extremely detailed, but you just need to be ready to answer some questions.

Anyways, it was a pleasure writing this piece for you. If you have any questions or concerns regarding billing statements, be sure to let us know. We will be more than happy to answer any of them. And, if you want to find interesting articles on gaming/office/software related topics, be sure to check out our library – we hope you will find something to suit your needs. Thanks again, and we will see you at the next one. Stay safe!