opening balance

(redirected from Opening Balances)

Opening Balance

The amount of funds in an account at the beginning of a period, especially a month or year. For example, if one has a bank account with a balance of $1236 at the end of August, this becomes the opening balance for the beginning of September.

opening balance

The balance in an account at the beginning of a period.
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Open Competition: Providing services for software products on a platform of "1C: Enterprise" on the "Finalize typical configuration, transfer and filling of reference information (NSI), the transfer opening balances, the introduction of information systems based on software" 1C: Manufacturing Enterprise Management "
The banks would also make necessary arrangements for deduction of Zakat on opening balances of deposits of 1st Ramzan.
This Statement on Auditing Standards (SAS) addresses the auditor's responsibilities relating to opening balances in an initial audit engagement, including a reaudit engagement.
If HM Revenue and Customs now chose to examine the bona fides of all original cash deposits in internet betting accounts, and were to make the exchange operators responsible for the tax on any dubious opening balances, then the majority of exchange sites would probably close overnight.
The Campaign for Real Ale says that while the number of new pubs opening balances out those closing, most new outlets are in towns and cities.
The minimum opening balances were raised last July to deter speculators hoping for a windfall if the society became a bank.
The spokeswoman added: "A lot of people are unable to have accounts because of these high opening balances.
Although somewhat shaky in her opening balances, both she and Noya gained confidence as the second act progressed.
At the conversion date, BP established opening balances in the cash balance plan that were supposed to be the lump sum equivalent value of the benefits that were to be paid from the traditional pension plan during participants' retirement.
Successful review of predecessor audit documentation may affect the nature, timing and extent of procedures about opening balances and the consistency of accounting principles.
He said: "Our efforts to deter speculative account opening, by having minimum opening balances for new customers, has excluded genuine customers who wish to invest smaller amounts.
a number of societies are already trying to put off speculators by increasing their minimum opening balances.