Knowledge Base

What is a Statement of Account?

A Statement of Account is a document that is issued by a broker to a trader or investor. It summarizes all of the transactions that have taken place in the trader or investor’s account over a specified period of time. This includes information such as the date of the transaction, the quantity traded, the price per share, the total value of the transaction, and any fees or charges that were applied.

Why is a Statement of Account important?

A Statement of Account is important for a number of reasons. First, it allows traders and investors to keep track of their investment activity. This can be helpful for identifying any trends in their trading or investment performance. Second, it can be used to verify that all of the transactions that have taken place in their account have been processed correctly. Third, it can be used to calculate capital gains or losses for tax purposes.

How to get a Statement of Account?

Traders and investors can usually get a Statement of Account from their broker by logging into their account online or by contacting their broker in this case Samco directly.

Here are some additional tips for using a Statement of Account:

• Review your Statement of Account carefully each month. This will help you to identify any unauthorized transactions or errors.
• Keep all of your Statements of Account in a safe place. This will make it easier to track your investment performance over time and to calculate capital gains or losses for tax purposes.
• If you have any questions about your Statement of Account, contact your sub-broker.

Let’s under how to read the Statement of Account report:

Transaction Date: This contains the date on the particular transaction carried out

This information is important in order to track when a transaction took place, as well as to ensure accuracy when reconciling records and statements.

Settlement Date: This contains the date on which the trade has been settled.

Clearing Corporation/Clearing Member: This indicates the CM/CC name i.e NCL (NSE Clearing Limited)

Segment Type: This indicates on which segment the trade is settled.

Settlement No: This indicates a unique settlement no of a particular transaction carried out

Particulars/Narration: This contains the narration of the transaction carried out. The details/narration section contains information about the transaction such as the type of transaction, the date, and the amount involved.

Voucher No: This indicates the voucher no of a particular transaction carried out

Debit: This contains all the debit amount from the transactions made

Credit: This contains all the credit amount from the transactions made

Balance: This contains the available balance post debit/credit

Conclusion: A Statement of Account is an important document for traders and investors. It can be used to keep track of investment activity, and verify that transactions have been processed correctly.

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