Closing Balance


Also found in: Acronyms.

Closing Balance

The balance of a bank account at the end of a period, such as a month or year. If the closing balance is listed on a bank statement, it indicates the closing balance on the date the statement was printed.
References in periodicals archive ?
As at the end of the Reporting Period, the closing balance of the Group's assets held-for-sale decreased by 84.34% from that at the beginning of the year, mainly due to the disposal of some non-current assets held-for-sale during the Reporting Period.
Haq said the clearance of bank deposits at closing balance would also be against the accounting principles and tax laws.
As per the tax official, no record of closing balance and subsequent supplies was available due to exemption regime and the reason of investigating income tax returns for the tax year 2017 was to scrutinize the income declared by registered individuals on basis of their sales.
The new company will have a strong closing balance sheet and a fully funded business plan with a strong foundation of secured investment grade debt at close.
Your closing balance must be at least PS1,600 and the bonus is available on properties with a value of up to PS250,000.
However, the closing balance still remains very high with 70,000 plus criminals being dubbed proclaimed offenders and they are posing a threat to the public at large.
A tax payer could file Form TRAN-1 and avail input tax credit on the basis of closing balance of the input tax credit declared in the last return under the pre GST regime.
He said total income earned by agency was Rs 122 million, expenditure was Rs 112 million and closing balance was Rs 92 million.
According to ministry officials, it has also been observed that the opening balance for the financial year 2015- 16 reflected in IMIS differs from the closing balance reported in the unit closing for the year 2014- 15.
Calculations for entry are based on the lower of an account's actual closing balance or average balance at the end of each calendar month.
Grainger will receive a total gross consideration of circa [pounds sterling]34m for its 25% interest in the JV and performance related premium return on equity, subject to closing balance sheet adjustments.
Rows 2-13 are the increase or decrease for each month, and Row 14 is the closing balance. Highlight the data (cells A1:B14).