opening balance


Also found in: Acronyms.

Opening Balance

The amount of funds in an account at the beginning of a period, especially a month or year. For example, if one has a bank account with a balance of $1236 at the end of August, this becomes the opening balance for the beginning of September.

opening balance

The balance in an account at the beginning of a period.
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The opening balance of the electronic cash ledger and the electronic credit ledger is also considered while calculating the GST dues for a month.
Non-interest checking accounts saw declines in the average opening balance ($169), monthly service fee ($5.78), and balance required to avoid the fee ($670).
Hand it to the shop assistant with an opening balance to put on your card - min.
Aside from a dual currency joint account designed for the future bride and groom, the Platinum Wedding Bouquet features a wide array of much needed advantages including: A wedding loan of up to $20,000 with a 3-month grace period; two free Titanium Credit Cards; two free Platinum Debit Cards; cash gifts acceptance for 12 months; instant "Thank You" SMS to guests along with SMS notification for account transactions; no account charges and no minimum opening balance; and much more.
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.
Metro's fixed-rate accounts are available in branches and online with a minimum opening balance of PS500.
Row 1 is the opening balance. Rows 2-13 are the increase or decrease for each month, and Row 14 is the closing balance.
Rabi 2014-15 started with an opening balance of 1,84,000 tonnes of urea.
The business opened 2,452 new savings accounts in 2013 with an average opening balance of PS16,687.
"The board members have a deep sense of duty for the responsibilities they have been called upon to undertake and are focusing all their efforts on the systemic role the bank has to play within its historic responsibility as the platform for growth of the Cypriot economy." The Bank of Cyprus, that was forced to be merged with the resolved Popular Laiki and absorb some 9.5 bln euros in ELA support funds, was handed a provisional opening balance sheet by the Central Bank of Cyprus last week with about 13.8 bln euros in assets from the "good bank" operations of Laiki.
The bond, which matures on July 31, 2013, is available with a minimum opening balance of pounds 1,000.
Although the minimum opening balance is pounds 3,000, interest paid from pounds 1 is tiered at pounds 10,000 and paid on the anniversary of the account opening and at maturity.