What does balance in bank account mean?

Answer 1

The balance in your account, as reported by the bank, is the amount of money in your account at the given time. That balance, however, does not include any checks or debit card purchase that you've made but haven't been subtracted from your account.

Be careful when checking with the bacnk for "your balance". It's much better to track your finances yourself, either using Quicken or Microsoft Money, or the old-fashioned way....keeping a checkbook.

Answer 2

the balance in the bank account means how much money you have at that moment
there could be checks that have not cleared the bank yet. so always check which ones have cleared. most banks offer a telephone service where you can access you account. there you can find out which checks have cleared and which are outstanding. take the bank balance and subtract all checks which have not cleared. this gives you your true balance and keeps you from getting charges for bounced checks or overdraft charges. good luck

Answer 3

What Does Account Mean

Answer 4

There are two responses to this answer.

1) Balance means what you have left in your account as of at a certain date and time.

2) Balance also means to balance your account to insure that you and the bank agree as to the amount in your account on a certain date.

To balance the account you must have your current bank statement and checking or savings account register (depending on which one you are balancing).

Next you review your bank statement to see if all deposits have been posted to the statement and the check register. List any that have not been posted on a sheet of paper.

Then you review all the checks you have written. List any checks that are not listed on the bank statement.

Now look for any fees to your account and list them.

Make two list , A: bank balance B: Your balance

Write the balance of the bank statement on list A
Write the balance in the check register on list B

Any deposits not listed on the bank statement add to the A list
Any deposits not listed in the check register add to the B list

Total both list

Now you will subtract any checks outstanding

Add up all checks that were not listed on the bank statement and put that amount after the new total for list A.

Add up any amounts (especially debit card) that are listed on the bank statement that are not listed in the check register. You will also add any bank fees charged to your account to this amount. Total and put that amount after the new total for list B.

Now subtract the amounts from the new total for list A and B. Your totals should match. If they match you have balanced your account. If you do not match then you are out of balance. Normally if you are out of balance there is a substraction or addition error in your check register. If you cannot find the difference, than I suggest that you get someone at the bank to help you balance your account. Otherwise you could easily make a major mistake on your account that will cost you dearly in overdraft fees.

Answer 5

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Answer 6

How much money you have in the account

Answer 7

Leonard Johnson and David Williams posted the same question. You should read their answers side by side.

Answer 8

How much $$$ you have in your account.

Answer 9

Add up all the deposits. Add up all the deductions. What is the difference? That is the balance, the middle between the two sums.

Answer 10

That's a good question