Balance Definition
A balance can refer to the money in a bank account or due on an account. And balance can also describe the act of balancing an account.
Balance Extended Definition
When used as a noun, balance may refer to the amount of money in an account, like a bank or credit card account. It can also describe the remainder due on an account, such as the balance due on a bill.
When using balance as a verb, the word can describe the act of comparing debits to credits to make sure they are equal, like balancing a checking account against an account statement.
Related Articles
What is a Balance Sheet?
What is a Chart of Accounts?
Last Updated By
Andrew Freiman | Feb 28, 2023
