Opening Balance

Opening balance is the amount of money in an account at the start of a statement period. It serves as the starting point for all transactions in that cycle.

The opening balance typically matches the prior statement's closing balance unless adjustments were made. It helps you track how your balance changed over the period.

Related Terms

Closing Balance

Closing balance is the amount of money in an account at the end of a statement period after all post...

Balance

A balance is the amount of money in a bank account at any given time. Banks typically report both th...

Bank Statement

A bank statement is a document issued by a financial institution that summarizes all transactions in...

Statement Period

A statement period is the date range covered by a bank statement. It includes all transactions poste...

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