As soon as the client purchases any banking product, an account is automatically opened through which various financial transactions are carried out. To control the debiting and crediting of funds, you need a special tool. This is exactly what an extract is. Let's try to figure out what this document is, for what purposes it is needed, where it can be obtained and how to do it.

What is a bank statement and why is it needed?

Account statement refers to the type of reference financial documents. With its help, you can track financial transactions carried out over a certain period of time. The presence of this paper allows the bearer to prove the crediting or debiting of money from the account. This is a necessary document if you need to confirm (or refute) the conditions of tax calculations on income received. In short, an extract is a formative document for accounting. It is from these data that specialists are repelled in the preparation of tax and accounting records.

From legal entities, only a trusted person (head of an organization, chief accountant, etc.) can receive an extract. If a bank account is opened by an individual, the transactions carried out on the account are indicated in the statement. The user has the right to request this document if a loan is issued, a visa is required, confirmation of solvency is required, information is necessary for any transaction. For legal entities, such a document is useful for participating in a tender, reorganizing an enterprise, negotiating, developing a business plan. The judicial authorities can also make a request for an extract.

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