Business Definition for: balance
balance
- difference between total debits and total credits in an account.
- equality of total debits and total credits of all accounts in a
general ledger
in the preparation of a
trial balance
.
- equality of a control account in the general ledger (e.g., accounts receivable) and the total balance of all accounts in the
subsidiary ledger
(e.g., customer accounts).
- balance in a bank account.
- balance of a loan.
balance
- amount available in an account after payment of service charges, less withdrawals or debits and deposits not credited. In a checking account, the most important figure is the account's
collected balance
representing the total of deposits cleared, less checks paid and bank service charges.
- to reconcile a checking account by comparing bank statement with check book register.
- amount payable in a mortgage or installment loan payment. Also called the
balance due
.
balance
- amount owed on a loan.
- amount shown in an account; difference between debits and credits in an account. If credits exceed debits, it is called a
credit balance
.
balance
Advertising: blending of sounds, such as music and dialogue in television or radio, to achieve the desired proportion of volume; also, the artful blending of copy, drawings, illustrations, photographs, and other decorative material used in print advertisements to effect a pleasing aesthetic appearance.
Fulfillment: process of matching an updated file against the previous file, together with all subsequent transactions that should have been applied against it, to ensure that processing was done correctly. See also
batch balance
.
List rental: names remaining on a list after a
selection
has been made for rental or
house
promotion.
balance
the amount left over after subtracting, as, for example, the amount owed on a loan (also called principal balance) or the amount in an account.
Example: A current loan balance of $95,000 means that loan payments have reduced the outstanding debt to that amount. The balance of $25,000 in a depositor savings account represents the amount deposited plus interest earned, less any amount withdrawn.
Referring Terms:
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Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.