Account balance

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Account balance

Credits minus debits at the end of a reporting period.

Account Balance

The amount available in an account. Simply put, the account balance is the net of all credits less all debits. A positive account balance indicates the account holder has funds available to him/her, while a negative balance indicates the holder owes money. Account balances are important in banking because they determine whether or not an account holder has money for living expenses and in margin accounts because they show whether the holder can conduct more margin transactions.

Account balance.

Your account balance is the amount of money you have in one of your financial accounts. For example, your bank account balance refers to the amount of money in your bank accounts.

Your account balance can also be the amount of money outstanding on one of your financial accounts. Your credit card balance, for example, refers to the amount of money you owe a credit card company.

With your 401(k), your account balance, also called your accrued benefit, is the amount your 401(k) account is worth on a date that it's valued. For example, if the value of your account on December 31 is $250,000, that's your account balance.

You use your 401(k) account balance to figure how much you must withdraw from your plan each year, once you start taking required distributions after you turn 70 1/2. Specifically, you divide the account balance at the end of your plan's fiscal year by a divisor based on your life expectancy to determine the amount you must take during the next fiscal year.

References in periodicals archive ?
It finds that average account balances increased during this period for consistent participants in all age cohorts.
The report details the assets, account balances and rollovers for HSAs and HRAs from 2006 to 2012.
In general, the analysis should be undertaken for each client and will depend heavily on their initial account balances, projected market conditions, and the client's lifestyle preferences.
Client account balances with the company totalled RUB877bn as of 1 January, 55% higher on the year.
The bank said that the new feature, Mobile Banking Lite, would allow its customers to check their account balances without a full signing-in process.
Also, the study says, between September 2007 and December 2009, the median participant account balance grew by 10%, and six in 10 participants saw their account balances grow.
Among 18 countries which posted current account deficits last year, only Korea and Iceland are expected to see their current account balances return to surplus this year, the IMF said.
Those with less than $10,000 in account balances had an average growth of 40% during 2008, mostly because contributions had a bigger impact than investment losses, said Jack VanDerhi, research director who followed the data for EBRI.
Payment history and account balances are hefty variables, accounting for 35% and 30%, respectively, of your credit score.
During 1989, participants with vested account balances totaling 507.
For the last six years, Middle Eastern countries have had current account surpluses; not surprisingly, the sign and size of their current account balances are positively correlated with the world price of oil.