Glossary

Statement of Accounts (SOA)

DEFINITION

A statement of accounts is a document that records all transactions between you and a customer during a certain period, including items such as sales and refunds.

ELI5

It is a record showing money activity between two sides, like what was sold, paid, or refunded over a certain time.

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Deductible

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Total Debt Servicing Ratio (TDSR)

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