opening balance


Also found in: Acronyms.

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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References in periodicals archive ?
Whenever you set up a new balance sheet account, there is a field for the Opening Balance.
The information reported for each period for which an income statement is presented would include the opening balance, additions charged to expense, deductions, other increases (or decreases) not charged (credited) to expense (with explanations), and the closing balance of the account.
He or she also needs an opening balance sheet, a break-even analysis (which shows when income equals outgo), capital equipment list (cost or value), appraisals on real estate and equipment and personal financial statements form the last three years.
Number of lot of this consultation: 1Details: Single Lot aimed control and certification of annual accounts of the institution, including the validation of the opening balance sheet of the financial years 2015 to 2020 inclusive.
It launched the account, which has a minimum opening balance of pounds 100, a year ago in response to the appetite shown for a more traditional offering.
Budget document showed an opening balance Rs 100 million while the share to be paid by the provincial government will be Rs 2508.
The minimum opening balance is $150,000, with clients required to introduce funds which are new to Abbey International.
We started with very comfortable opening balance that was around 10 million tonnes of sugar on 1st October 2008.
10 letter states, "The proposed FSP provides an elective alternative transition method for determining the opening balance of the APIC pool upon adoption of FAS 123(R).
The account requires a minimum opening balance of pounds 5,000 (or US$ or euro equivalent).
This would mean restating the opening balance sheet for the comparative period - for December 31 year-ends, this would be December 31, 2003, barely nine weeks away.
YORKSHIRE Building Society have reduced the minimum opening balance on investment accounts to "pre-carpetbagger" levels.