average collected balance


Checking account's average dollar amount during a specific period, calculated by subtracting uncollected checks from the daily ledger balances and dividing by the number of days in the reporting period (generally one month).

Use this term in a sentence

The average collected balance was pretty cool and I was glad that it was not out of order and didn't have any problems.

​ Was this Helpful? YES  NO 10 people found this helpful.

The average collected balance on her account was $200 and she knew that she was in very real danger of not having enough money to cover her expenses.

​ Was this Helpful? YES  NO 11 people found this helpful.

The company did not keep sufficient average collected balances on deposit to cover the cost of services over the period. In effect, the company has a compensation deficit of $186.30, which is owed to the financial institution.

​ Was this Helpful? YES  NO 6 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
average balance average collection period