The definition at a glance
The amount held in an account when a period or financial record begins.
Connected concepts
Keep learning, one concept at a time.
Accounts and transactions
Account statement
A record of account activity over a period. It shows money coming in and going out, with information that helps reconcile the balance.
Understand the concept →Accounts and transactionsAvailable balance
The amount that can be used immediately after considering transactions, holds, pending activity and other commitments.
Understand the concept →Accounts and transactionsBalance
The amount recorded in an account at a particular time, taking its opening balance and transactions into account. It may differ from the amount immediately available to spend.
Understand the concept →