Glossary
Running balance
Definition
The balance printed after each transaction (or each day) on a statement.
Running balances let you verify each row: the previous balance plus the transaction amount should equal the new balance. Some banks print one balance per day rather than per transaction.
Breaks in the running balance pinpoint the exact row where an extraction or edit went wrong.
Related terms
- Closing balance
The account balance at the end of the statement period, also called ending, new or carried-forward balance.
- Bank reconciliation
Comparing your records with the bank statement to make sure balances agree and every transaction is accounted for.
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