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closing balance meaning

  "closing balance" in a sentence
  • [Business]
    noun [C, usually sing.]

    (Accounting )

    the balance shown in an account at the end of an accounting period OPENING BALANCE


  • [Economics]
    The debit or credit balance on a ledger at the end of an accounting period, which will appear on the balance sheet at that date and will be carried forward to the next accounting period. A debit closing balance (such as an accrual) will be carried forward to the credit side of a ledger and a credit closing balance (such as a prepayment) will be carried forward to the debit side of a ledger.

Examples

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  1. closing balance account
  2. It details opening and closing balances for transacted items as well.
  3. And we've got to bring that back into closer balance ."
  4. The Gilded Age was marked by close balances in the House, with the parties alternating control.
  5. That close balance, nationwide and in Missouri, led directly to the notion that this final meeting could be decisive.

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