opening balance

The balance brought forward at the beginning of an accounting period. Opening balances may be on the debit or the credit side of a ledger.
See also: brought down

Accounting dictionary. 2014.

Look at other dictionaries:

  • opening balance — ➔ balance1 * * * opening balance UK US noun [C] ► BANKING the amount of money in a bank account when it is first opened: »Minimum opening balance is $100, maximum $250,000. ► BANKING, ACCOUNTING the amount of money in an account at the beginning… …   Financial and business terms

  • opening balance — balance of an account at its start, amount in an account when opened …   English contemporary dictionary

  • Opening balance —   An ISO term. The closing balance of the previous statement …   International financial encyclopaedia

  • opening balance — / əυp(ə)nɪŋ ˌbæləns/ noun a balance at the beginning of an accounting period …   Marketing dictionary in english

  • opening balance — / əυp(ə)nɪŋ ˌbæləns/ noun a balance at the beginning of an accounting period …   Dictionary of banking and finance

  • opening balance — Fin the value of a financial quantity at the beginning of a period of time, such as a day or a year …   The ultimate business dictionary

  • opening balance sheet — Fin an account showing an organization’s opening balances …   The ultimate business dictionary

  • Intermediate opening balance —   An ISO term. The intermediate closing balance of the previous page or message …   International financial encyclopaedia

  • balance — the amount of money remaining in an account. The total of your money in the bank after accounting for all transactions (deposits and withdrawals) is called a balance . Glossary of Business Terms A division of a Securities Account, of a type… …   Financial and business terms

  • balance — / bæləns/ noun 1. the amount which has to be put in one of the columns of an account to make the total debits and credits equal ♦ balance in hand cash held to pay small debts ♦ balance brought down or forward the closing balance of the previous… …   Dictionary of banking and finance

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