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 ?
UNDISCLOSED BANK ACCOUNTS According to the auditor's report dated March 15, some of the issues flagged include undisclosed bank accounts, suspect bank balances and statements, stale cheques, unsustainability and non-payment.
Moreover, Haroon, who hails from a prominent business family of Sindh, owns a Toyota Land Cruiser worth Rs9 million and a Mercedes worth Rs2.8 million, along with a bank balance of Rs4.8 million.
Bashir Khan owns a Vigo car worth Rs3.8 million and has Rs700,000 bank balance. He has imported household items worth Rs500,000 from abroad.
As assets and liabilities declared by Punjab Caretaker Chief Minister, Hasan Askari owns a house worth Rs7 million, cash and prize bonds of Rs0.93 million and a bank balance of Rs10 million.
In India, the recently introduced GST as well as weak corporate and bank balance sheets resulted in modest economic growth, but signs of recovery emerged in the second half of 2017, it said.
The bank's assessment of the future direction of monetary policy is based upon an analysis of two factors: expected changes in the size of central bank balance sheets and future inflation dynamics.
QNB's assessment of the future direction of monetary policy is based upon an analysis of two factors- expected changes in the size of central bank balance sheets and future inflation dynamics.
The feature also includes 'Bank Balance Check' numbers which allow users to check their bank balance from their respective bank.
Accordingly, the interest rate on savings bank balance of up to INR5m has been reduced to 3.5 percent from the current annual 4 percent.
On Wednesday, Boston Fed President Eric Rosengren said that structural changes in the macroeconomy "may necessitate more frequent use of large-scale asset purchases during recessions." He called it "quite likely" that the use of central bank balance sheets will be necessary in future economic downturns.
In a paper entitled "The Impact of Oil Prices on the Banking System in the GCC" the International Monetary Fund (IMF) said it 'finds strong empirical evidence of feedback loops between oil price movements, bank balance sheets, and asset prices'.