Balance - Revision history

imported>Doug Williamson: Add link.

2022-11-17T19:14:08Z

Add link.

← Older revision		Revision as of 19:14, 17 November 2022
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	* [[Cash flow]]		* [[Cash flow]]
	* [[Cleared balance]]		* [[Cleared balance]]
			* [[Compromise]]
	* [[Credit balance]]		* [[Credit balance]]
	* [[Debit balance]]		* [[Debit balance]]

imported>Doug Williamson: Add link.

2022-07-20T07:28:08Z

Add link.

← Older revision		Revision as of 07:28, 20 July 2022
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	* [[Target balance]]		* [[Target balance]]
	* [[Transaction balance]]		* [[Transaction balance]]
	* [[Transposition]]		* [[Transposition error]]
	* [[Trial balance]]		* [[Trial balance]]
	* [[Visibles balance]]		* [[Visibles balance]]

imported>Doug Williamson: Expand definition.

2022-07-20T05:32:40Z

Expand definition.

← Older revision		Revision as of 05:32, 20 July 2022
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	To check and validate accounting records for a given period.		To check and validate accounting records for a given period.

	~~Sometimes~~ known as ''balancing the books.''		This includes finding and correcting errors so far as possible, for example double counting and transposition errors.

			This process is sometimes known as ''balancing the books.''

			Other types of error are inherently more difficult to detect, for example omissions.


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	* [[Credit balance]]		* [[Credit balance]]
	* [[Debit balance]]		* [[Debit balance]]
			* [[Double counting]]
	* [[Event after the balance sheet date]]		* [[Event after the balance sheet date]]
	* [[Flow]]		* [[Flow]]
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	* [[Target balance]]		* [[Target balance]]
	* [[Transaction balance]]		* [[Transaction balance]]
			* [[Transposition]]
	* [[Trial balance]]		* [[Trial balance]]
	* [[Visibles balance]]		* [[Visibles balance]]

imported>Doug Williamson: Add definitions - sources - linked pages.

2022-07-18T21:51:29Z

Add definitions - sources - linked pages.

@@ Line 50: / Line 50: @@
 The balance in a financial account reflects all items that have been posted to the account.
@@ Line 64: / Line 86: @@
 * [[Balance sheet ratio]]
 * [[Balance sheet reduction policy]]
 * [[Book]]
 * [[Cash]]
 * [[Cash balance]]
@@ Line 71: / Line 95: @@
 * [[Credit balance]]
 * [[Debit balance]]
 * [[Event after the balance sheet date]]
 * [[Flow]]

imported>Doug Williamson: Add links.

2022-07-18T14:22:11Z

Add links.

@@ Line 53: / Line 53: @@
 == See also ==
 * [[Book]]
 * [[Cash flow]]
 * [[Cleared balance]]
 * [[Flow]]
 * [[Inflow]]
 * [[Ledger]]
 * [[Ledger balance]]
 * [[Outflow]]
 [[Category:Accounting,_tax_and_regulation]]
 [[Category:The_business_context]]

imported>Doug Williamson: Add link.

2022-07-14T15:07:51Z

Add link.

← Older revision		Revision as of 15:07, 14 July 2022
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	== See also ==		== See also ==
			* [[Book]]
	* [[Cash flow]]		* [[Cash flow]]
	* [[Cleared balance]]		* [[Cleared balance]]

imported>Doug Williamson: Add link.

2021-09-06T23:40:15Z

Add link.

← Older revision		Revision as of 23:40, 6 September 2021
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	== See also ==		== See also ==
			* [[Cash flow]]
	* [[Cleared balance]]		* [[Cleared balance]]
	* [[Flow]]		* [[Flow]]

imported>Doug Williamson: Layout.

2020-05-20T22:54:09Z

Layout.

← Older revision		Revision as of 22:54, 20 May 2020
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	:<span style="color:#4B0082">'''''Example 1: ~~Balance~~ in our favour'''''</span>		:<span style="color:#4B0082">'''''Example 1: Overdrawn account becomes balance in our favour'''''</span>

	:We have an overdraft of £50k at the start of April.		:We have an overdraft of £50k at the start of April.
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	:<span style="color:#4B0082">'''''Example 2: ~~Overdraft~~ balance in favour of the bank'''''</span>		:<span style="color:#4B0082">'''''Example 2: Closing overdrawn balance in favour of the bank'''''</span>

	:Our opening bank account balance for the month of May is £10k cash.		:Our opening bank account balance for the month of May is £10k cash.

imported>Doug Williamson: Add two examples.

2020-05-20T15:21:33Z

Add two examples.

← Older revision		Revision as of 15:21, 20 May 2020
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	The balance in a bank account reflects all items that have been deposited into and paid out of the account.		The balance in a bank account reflects all items that have been deposited into and paid out of the account.


			:<span style="color:#4B0082">'''''Example 1: Balance in our favour'''''</span>

			:We have an overdraft of £50k at the start of April.

			:The balance at the start of a period is known as an opening balance. In our example it is £50k.

			:So we owe £50k to the bank.


			:We deposit £60k into the account during the month of April.

			:This repays our overdraft, with some cash left over.

			:At the end of April, our bank account now has a positive amount in it, of:

			::-50 + 60 = 10

			:We have £10k cash in our bank account at the end of April.


			:The amount at the end of a period is the closing balance. In our example the closing balance is £10k.


			:<span style="color:#4B0082">'''''Example 2: Overdraft balance in favour of the bank'''''</span>

			:Our opening bank account balance for the month of May is £10k cash.

			:So the opening cash is £10k.


			:We pay £30k out of the account during May.

			:Opening balance + deposits - withdrawals = Closing balance

			::+10 - 30 = -20

			:This is an overdraft of £20k at the end of May.


			:We have a closing overdraft balance of £20k.

imported>Doug Williamson: Create page. Sources: linked pages.

2020-04-15T22:51:36Z

Create page. Sources: linked pages.

New page

1. ''Banking.''

The balance in a bank account reflects all items that have been deposited into and paid out of the account.

2. ''Accounting.''

The balance in a financial account reflects all items that have been posted to the account.

== See also ==
* [[Cleared balance]]
* [[Flow]]
* [[Inflow]]
* [[Ledger]]
* [[Ledger balance]]
* [[Outflow]]

[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]