Account balance

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Related to Account balance: Current account balance

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 new QLAC rules solve that problem by excluding the value of the QLAC from the account balance used to compute RMDs.
a Account balances increase with household income, and education has a significant impact on account balances independent of income and other variables;
By the time they reach seventy-five, if we assume the same annual 5 percent growth rate, their account balance will have grown to about $275,000.
Central bank's current account balance and overall balance of payments have maintained positive trend as export earnings and inflow of remittances continued to grow though at a moderated pace, the BB official said.
However, if the combination of the minimum interest plus additional index-based interest creates a low total account balance, we can still rely on the minimum growth of the alternative income base through the income rider, and thereby, a minimum lifetime retirement income that helps us deal with inflation.
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.
Before May 20, the BOJ was struggling with keeping the current account balance from falling below the target by resorting to various fund-injecting operations.
During 1989, participants with vested account balances totaling 507.
The current account balance includes a country's trade deficit, net income from abroad, and net unilateral transfers.
However, the contributions from the large payroll are added to the reserve account balance as of June 30, resulting in the minimum or very low UI rate for the next year.