closing balance


The amount of receipts or liabilities in an account at the end of an accounting period which could be daily, weekly, monthly, or annually depending upon the context.

Use closing balance in a sentence

You should try to make sure that your closing balance has enough to cover the things you will need to get soon.

​ Was this Helpful? YES  NO 7 people found this helpful.

To finish up their month end reporting, they needed to reconcile the closing balance on all of the accounts one by one.

​ Was this Helpful? YES  NO 9 people found this helpful.

My boss asked our accountants to rush the closing balance in our books at the end of this quarter to him as soon as it was made available.

​ Was this Helpful? YES  NO 10 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
closing agreement closing bell