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Balance definition is physical equilibrium.
Definition of balance money. The balance of payments also known as balance of international payments and abbreviated b o p. Simply put the account balance is the net of all credits less all debits. 239 people chose this as the best definition of balance. When total debits exceed total credits the account indicates a debit balance.
An account balance can also refer to the total amount of money you owe to a third party such as a credit card company utility company mortgage banker or another type of lender or creditor. See the dictionary meaning pronunciation and sentence examples. Or bop of a country is the difference between all money flowing into the country in a particular period of time e g a quarter or a year and the outflow of money to the rest of the world these financial transactions are made by individuals firms and government bodies to compare receipts and. A positive account balance indicates the account holder has funds available to him her while a negative balance indicates the holder owes money.
Nouna balance that represents cash alone as distinct from a balance that includes money owed but as yet unpaid. In bookkeeping balance is the difference between the sum of debit entries and the sum of credit entries entered into an account during a financial period. Account balances are important in banking because they determine whether or not an. Also called account balance.
How to use balance in a sentence. Account balance the amount available in an account. Balance definition a state of equilibrium or equipoise. The amount of money in an account equal to the net of credits and debits at that point in time for that account.
In banking and accounting the balance is the amount of money owed or due that remains in a deposit account.
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