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Home > QFINANCE Dictionary > Definition of closing balance

Definition of

closing balance

  • 1. Accounting

    amount carried forward to next accounting period the difference between credits and debits in a ledger at the end of one accounting period that is carried forward to the next

  • 2. Banking

    bank balance at end of business day the amount in credit or debit in a bank account at the end of a business day

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Definitions of ’closing balance’ and meaning of ’closing balance’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’closing balance’ and other financial terms with our online QFINANCE Financial Dictionary.

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