3 and 6 months stamped Business statements

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Question: What is the difference between Previous and Stamped Statements?

Previous Statements: A formal reconciled statement with an opening and closing balance according to your statements cycle.

Stamped Statements: A statement with an official bank stamp. The transactions are listed from the date of request, and date back 3 or 6 months.

Question: What are the different statements typically used for?

Previous Statements:

1.Record keeping (available up to 2 years online)

2.Statutory purposes

-Tax submission

-Auditing of financial statements

-Proof of transaction when there is a dispute (incl legal dispute)

3. Input into financial statements (contains all cleared outstanding card authorisations; and cheques)

Stamped Statements:

1. To provide to a third party:

-As proof of income 

-When applying for an account

2. Check balance
3. Check if someone has paid you before releasing goods
4. Payment reconciliation
5. Input into financial statements