Statement of Account (Australia)
Statement No: [Statement Number]
Statement Date: [Statement Date]
Statement Period: [Period From] to [Period To]
ISSUED BY:
[Supplier Name] (ABN [Supplier ABN])
[Supplier Address], [Supplier Suburb] [Supplier State] [Supplier Postcode]
Phone: [Supplier Phone] | Email: [Supplier Email]
CUSTOMER ACCOUNT:
[Customer Name] (ABN [Customer ABN])
[Customer Address]
Account Number: [Customer Account Number]
OPENING BALANCE (as at [Period From]):
Opening Balance: AUD [Opening Balance] ([Opening Balance Status])
TRANSACTIONS DURING THE PERIOD ([Period From] to [Period To]):
[Transactions Detail]
Total Invoiced: AUD [Total Invoiced]
Total Payments Received: AUD ([Total Payments Received])
Total Credit Notes: AUD ([Total Credits])
CLOSING BALANCE (as at [Period To]):
Total Amount Outstanding: AUD [Closing Balance]
Amount Overdue: AUD [Amount Overdue]
Current Amounts Due By: [Payment Due Date]
PAYMENT INSTRUCTIONS:
[Payment Instructions]
Please quote your account number or invoice numbers when making payment. For payment enquiries, contact our accounts receivable team at [Supplier Email] or [Supplier Phone].
PAYMENT NOTICE:
[Overdue Policy Note]
This Statement of Account is issued by [Supplier Name] (ABN [Supplier ABN]) as a record of your account transactions for the period stated above. It is not a tax invoice. Individual tax invoices are issued separately for each supply. Please check this statement against your records and contact us promptly if you believe there is any discrepancy. Amounts shown include GST (10%) where applicable. All amounts are in Australian Dollars (AUD).
[Supplier Name] reserves all rights available under the terms of the applicable supply agreement and at law in respect of any overdue amounts, including the right to charge interest on overdue balances, suspend credit, and recover debt recovery costs.
What Is a Statement of Account (Australia)?
A Statement of Account in Australia records the goods or services supplied, the amounts payable, and the payment terms between supplier and customer, consistent with the National Consumer Credit Protection Act 2009 (Cth).
The Statement of Account is a distinct document from a tax invoice. A tax invoice is issued for each individual taxable supply and is the document that allows the customer to claim an input tax credit for GST under the A New Tax System (Goods and Services Tax) Act 1999 (Cth). The Statement of Account does not create new GST obligations — it simply summarises the debts already created by the tax invoices issued during the period. Accordingly, a Statement of Account should always note that individual tax invoices have been issued separately, as the statement alone is not sufficient documentation for the customer to claim input tax credits.
For businesses with ongoing trade credit accounts, the Statement of Account is an essential accounts receivable management tool. It reconciles the supplier's and customer's records, identifies any discrepancies (such as a payment that the customer claims to have made but the supplier has not received), highlights overdue amounts that require prompt follow-up, and provides the customer's accounts payable team with a single consolidated document for payment processing. Issuing regular, accurate statements is one of the most effective tools for maintaining healthy cash flow and reducing debtor days.
The Statement of Account also has legal significance: it is documentary evidence of the amounts owed by the customer and can be used in support of debt recovery proceedings if the customer fails to pay. A Statement of Account that is not disputed by the customer within a reasonable time supports the supplier's case that the customer accepted the balance stated.
The legal framework governing the Statement of Account (Australia) in Australia draws on several key statutes and regulatory bodies. Under the Corporations Act 2001 (Cth) and the Australian Securities and Investments Commission Act 1989, ASIC regulates financial products and services. The National Consumer Credit Protection Act 2009 (Cth) governs consumer lending. The Australian Taxation Office (ATO) applies stamp duty through state revenue offices. The Australian Financial Complaints Authority (AFCA) resolves consumer financial disputes. The Reserve Bank of Australia (RBA) sets monetary policy affecting interest rate obligations in financial agreements. Parties executing a Statement of Account (Australia) in Australia should confirm the document reflects current law, including any amendments enacted since the original drafting date. The National Consumer Credit Protection Act 2009 (Cth) sets the foundational requirements.
When Do You Need a Statement of Account (Australia)?
A Statement of Account should be issued in the following circumstances.
Routine monthly account reconciliation. Businesses that supply goods or services to trade customers on credit terms — whether 7, 14, or 30 days — should issue monthly Statements of Account as part of their standard accounts receivable cycle. Monthly statements assist customers in processing payments, reconciling their accounts payable records, and identifying any invoices they may have missed or misplaced.
Following multiple transactions in a period. Where a customer has placed multiple orders and received multiple invoices during a month, a single consolidated Statement of Account is far more useful than requiring the customer to reconcile each invoice individually. The statement provides an at-a-glance view of the account's position.
Where accounts are partially paid or credits have been applied. A statement clearly shows how a payment has been applied across multiple invoices and how a credit note has reduced the balance, which can otherwise be a source of confusion and disputes.
When an account is overdue. Where a customer has failed to pay one or more invoices by their due date, issuing a Statement of Account that clearly identifies the overdue amount, the number of days overdue, and the consequences of non-payment (such as interest charges or suspension of credit) is the first step in a structured collections process. A statement followed (if necessary) by a formal letter of demand is standard practice in Australian commercial debt recovery.
At the end of a financial year or accounting period. Many businesses issue statements at 30 June (the end of the Australian financial year) and at the end of each quarter to assist customers in reconciling their accounts payable balances for BAS and tax purposes.
For new or infrequent customers. Issuing a statement after each transaction or at the conclusion of a project gives infrequent customers a clear picture of what they owe and when payment is due, without requiring them to track multiple separate invoices.
What to Include in Your Statement of Account (Australia)
An effective Australian Statement of Account should contain the following key elements.
Statement identification. Each statement should carry a unique statement number, the statement date, and the period it covers (from and to dates in DD/MM/YYYY format). The statement number assists with filing and cross-referencing, particularly when the customer queries a specific statement.
Supplier details. The supplier's full legal name, ABN, registered address, phone number, and accounts receivable email should be clearly shown. This information allows the customer to contact the right person quickly with payment or query enquiries.
Customer account details. The customer's full legal name, address, and account number (where the supplier uses an internal account numbering system) should be shown. Many suppliers also show the customer's credit limit and current credit limit utilisation on the statement.
Opening balance. The balance owed at the start of the statement period should be clearly shown, along with its status (current or overdue). The opening balance on the current statement should match the closing balance on the previous period's statement, which provides a self-checking mechanism.
Transaction listing. All transactions during the period should be listed in date order, with the date, description (invoice number, payment reference, or credit note number), and amount for each transaction. Debits (invoices) are shown as positive amounts and credits (payments and credit notes) are shown in brackets. This gives the customer a complete record of account activity.
Subtotals. The total invoiced, total payments received, and total credits applied during the period should be summarised separately. This assists the customer in reconciling the statement against their own accounts payable records.
Closing balance. The total amount outstanding at the end of the period should be prominently shown, with a separate breakdown of the current amount (within payment terms) and any overdue amount (past the payment due date).
Aging analysis. An optional but highly recommended feature is an aging analysis showing how long outstanding amounts have been outstanding — for example, 0-30 days, 31-60 days, 61-90 days, and 90+ days. This clearly identifies which amounts are overdue and by how long.
Payment instructions. Clear and complete payment instructions — including BSB and account number for EFT, BPAY biller code and reference, or other payment methods — are essential. The customer should be able to make payment from the statement without needing to contact the supplier.
Legal and GST disclaimer. The statement should note that it is not a tax invoice, that individual tax invoices have been issued separately, that all amounts include GST at 10% where applicable, and that all amounts are in AUD.
Additional compliance elements for a Statement of Account (Australia) used in Australia include: Under the Corporations Act 2001 (Cth) and the Australian Securities and Investments Commission Act 1989, ASIC regulates financial products and services. The National Consumer Credit Protection Act 2009 (Cth) governs consumer lending. The Australian Taxation Office (ATO) applies stamp duty through state revenue offices. The Australian Financial Complaints Authority (AFCA) resolves consumer financial disputes. The Reserve Bank of Australia (RBA) sets monetary policy affecting interest rate obligations in financial agreements. Forms-legal.com provides this template as a starting point for Australia-compliant documentation.
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Reference this free template in an article, syllabus, or research note:
Forms Legal. (2026). Statement of Account (Australia) (Australia) [Legal document template]. Forms Legal. https://forms-legal.com/australia/financial/invoices/statement-of-account-australia
"Statement of Account (Australia) (Australia)." Forms Legal, 2026, https://forms-legal.com/australia/financial/invoices/statement-of-account-australia.
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author = {{Forms Legal}},
title = {Statement of Account (Australia) (Australia)},
year = {2026},
howpublished = {\url{https://forms-legal.com/australia/financial/invoices/statement-of-account-australia}},
note = {Free legal document template. Based on National Consumer Credit Protection Act 2009 (Cth)}
}Frequently Asked Questions
A Statement of Account is a periodic summary document issued by a supplier to a customer that shows all transactions on the customer's account during a specified period — typically all invoices raised, all payments received, all credit notes issued, and the resulting closing balance owed. It is a reconciliation tool and a payment prompt, not a tax invoice. A tax invoice, by contrast, is a document issued for a specific taxable supply that records the GST payable on that supply. The tax invoice is the document that gives the customer the right to claim an input tax credit under the A New Tax System (Goods and Services Tax) Act 1999 (Cth). A Statement of Account does not create a new debt or new GST liability — it simply summarises the debts already created by the tax invoices issued during the period. Importantly, a Statement of Account is not a valid substitute for a tax invoice: if a supplier only provides a Statement of Account and does not issue individual tax invoices, the customer cannot claim input tax credits for the GST included in the statement totals. Some suppliers include copies of their tax invoices with the Statement of Account as a reminder, but the statement itself is not a tax invoice.
The frequency of issuing Statements of Account in Australia depends on the nature of the business relationship and the agreed credit terms. Most Australian businesses with trade credit accounts issue statements monthly — typically at the end of each calendar month or at the end of the supplier's monthly billing cycle. Monthly statements are appropriate where customers have ongoing accounts with multiple transactions each month. Some industries use fortnightly statements (for example, trade suppliers in the construction industry where progress claims are common), while others may issue quarterly or ad-hoc statements where transaction volumes are lower. For businesses offering 30-day payment terms, a monthly statement issued on or shortly after the last day of the month gives the customer a complete summary of all amounts due, which assists with the customer's own accounts payable processing. Many suppliers also issue statements specifically when an account becomes overdue, as a formal prompt for payment before escalating to a formal demand letter or debt collection action.
When a customer fails to pay an invoice by its due date, an Australian supplier has several escalating options for recovering the overdue amount. First, a Statement of Account or overdue notice is issued, clearly identifying the overdue amount and requesting payment by a specified date. Second, if payment is still not received, a formal letter of demand should be sent — either directly by the supplier or through a solicitor — requiring payment within a specified short period (typically 7 to 14 days) and stating the consequences of non-payment. Third, if the amount is undisputed and the customer fails to pay after a formal demand, the supplier may apply for a statutory demand under section 459E of the Corporations Act 2001 (Cth) if the customer is a company and the debt exceeds $4,000 — this triggers a 21-day period within which the company must pay or risk presumption of insolvency. Fourth, for amounts up to $100,000 in most states, the supplier may commence proceedings in the relevant civil or magistrates court. Fifth, for larger amounts, the Supreme Court or the Federal Court may be appropriate. Suppliers may also charge interest on overdue amounts where their supply terms provide for this, and (in many states) may recover reasonable debt recovery costs.
A Statement of Account is not a tax invoice and is not required to show GST amounts in the same way as a tax invoice under Division 29 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth). However, established standards is to note on the Statement of Account that amounts shown include or exclude GST (as the case may be) and to state that individual tax invoices have been issued separately for each supply. This avoids confusion and assists the customer in reconciling the statement against the tax invoices and their own GST records. Where a statement line refers to a specific invoice, the statement may show the total amount of that invoice (inclusive or exclusive of GST, clearly labelled) but should not itself purport to be a tax invoice. Some accounting software systems include a GST column in statements that shows the GST component of each line item, which can be helpful for reconciliation — but this does not substitute for a valid tax invoice for each supply. Customers should always retain and rely on the individual tax invoices issued by their suppliers for BAS and input tax credit purposes.
Yes. A Statement of Account issued by a supplier can be used as evidence in Australian legal proceedings to establish the existence and quantum of a debt. In practice, when a supplier sues a customer for an unpaid account, the supplier will typically rely on: (1) the underlying supply agreement or credit application establishing the credit terms; (2) the individual tax invoices for each supply made; (3) the statements of account showing the unpaid balance; and (4) any correspondence or notices of demand. A signed acknowledgment by the customer that a particular Statement of Account balance is correct (for example, a signed remittance advice or a written acknowledgment of debt) is particularly strong evidence as it constitutes an admission of the debt. Conversely, where a customer disputes a Statement of Account balance, the customer should do so promptly and in writing, specifying the grounds for the dispute. Silence or failure to dispute a statement within a reasonable time can be used by a supplier to support the argument that the customer accepted the balance as correct, though an unrebutted statement is not conclusive evidence of debt on its own.
This template is provided for informational purposes only and does not constitute legal advice. Laws vary by jurisdiction and change over time. Consult a qualified attorney for advice specific to your situation.Full disclaimer
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