Previous balance method

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Previous balance method

Method of calculating finance charges based on the account balance at the end of the previous month.

Previous Balance Method

An accounting method in which interest owed on a good or service is calculated based on what is owed at the end of the month. Most credit cards calculate cost and interest on top of the balance at the end of the previous month. Payments on instruments that use the previous balance method are due at the beginning of the month.
References in periodicals archive ?
The language of the political statements issued by Paris, Washington, Moscow and Cairo did not resort to the threat of sanctions, but instead adopted a language calling for a political solution, which is known to be unattainable under the previous balance of power, before the arrival of the vanguard of the LNA in Tripoli.
Asked how ECA balance came down from a previous balance of $2.
The Talking Bill will state charges such as total amount due, previous balance, local and international calls, texts, data, international roaming, and VAT, among others.
The 'Talking Bill' will state charges such as total amount due, previous balance, local and international calls, texts, data, international roaming, and VAT, among other details.
* Right-fielder Jason Heyward might be ready to return from the concussion disabled list at some point this weekend, which could be used as the move that returns the roster to its previous balance.
PREVIOUS BALANCE $105,815.34 CONTRIBUTIONSSanta's Helper$500From all your Elves at the Wexford House Restaurant$250"Liz, Annie, Rob, John, Nate, Jason''$200The Members of the Holden Fire Department$121Santa's Helper$100Zuppie$100"Happy 91st Birthday Lodie; Love, P.E.M & A.H.M.''$91Leicester High School Class of 1964$50Betty Lamusta$25Santa's Helper$25John & Marion Sund$15IN MEMORY OFBert & Helen Oliver; Kathy (Oliver) Tivnan & Paul Tinsley$500VI Spencer; Co-Wed Club$126David J.
PREVIOUS BALANCE $6,151.98 CONTRIBUTIONSSanta's Helper$200Santa's Helper$100"Dan, Tara, Avery, Addi, John, Julie Galante''$40LJMK$10IN MEMORY OFCatherine M.
The net foreign reserves held by other banks were dollars 5.03504 billion against the previous balance of dollars 4.95609 billion.
At Villa, while previous balance sheets were propped up by major sales like Steward Downing and Ashley Young, there was no such knight in shining armour last year.
According to these documents, the Sindesarkhurd Mining Development Project of HZL, which was at an advanced stage of planning for the production of 81 million tonnes of geologically proven ore reserves of zinc, lead and silver, clearly indicated in the previous balance sheets of the company, was not considered in the valuation of Hindustan Zinc Limited during the initial stake sale to Anil Agarwal- run Sterlite Opportunities and Ventures Ltd ( SOVL).
One of the least advantageous is the previous balance method.
Then each new row adds that month's amount to the previous balance (=Previous Balance + Amount).