closing balance
Account's ending figure
The closing balance is the amount remaining in an account at the end of a reporting period—a day, month, quarter, or year.
It becomes the opening balance for the next period.
The closing balance on your December statement becomes your January opening balance.
The term appears in banking, accounting, and financial statements.
- ledgerFinancial record book
- general ledgerMaster accounting record
- accountRecord of dealings
- reconciliationRestoration of friendly relations
- statementExpressed claim or fact
debit · credit · running total · fiscal · fiscal year · year-end · end of month · audit · figures · tally · surplus · deficit · cash on hand · carryover · net · bottom line · assets · liabilities