balance
noun
uk/ˈbæləns/ us [ C, usually singular ] BANKING
the difference in the amount of money that has come into and gone out of a bank account in a particular period:
Virtually all financial records - bank balances, mutual fund, and brokerage records - are held in electronic form.
I checked my balance at the ATM.
See also
adverse balance of trade
balance of trade
cash balance
closing balance
credit balance
compensating balance
debit balance
idle balance
opening balance
trial balance
unfavourable balance
unsold balance
[ C, usually singular ] ACCOUNTING
the amount shown in a company's financial records that is the difference between the total credits and the total debits in a particular account:
This balance is then transferred to the profit and loss account.
See also
adverse balance of trade
double declining balance
[ C, usually singular ] FINANCE
the amount of money that you still owe after you have paid a part of the total amount:
Cut your outstanding mortgage balance and your monthly repayments will also come down.
[ C ] FINANCE
the amount of money that you owe on a credit card account:
He is one of millions of people who does not pay off his credit card balance every month.
See also
balance transfer
[ S ]
the remaining part of an amount:
We ordered 200 copies; 50 to be delivered now and the balance next month.
[ S or U ]
the state where things exist in equal amounts or are of equal importance:
They are looking for a better balance between internet security and ease of use.
You need to find a balance between the demands of work and those of your home life.
See also
competitive balance
work-life balance
balance
verb
uk/ˈbæləns/ us [ T ] ACCOUNTING
to arrange a system of accounts so that the amount of money spent is no more than the amount received:
The Conservatives initially balanced the books by selling assets and cutting health and education spending.
[ I ] ACCOUNTING, BANKING
if an account balances, the amounts of money on the credit and debit sides are equal:
He had made some kind of computation error and the account didn't balance.
[ T ]
to spend only as much money as you have received, or planned to spend:
The President is unlikely to balance the budget in this term of office, but he does hope to lower the deficit.
[ I or T ] (also balance (sth) out)
to be equal in amount or value, or to make things equal in amount or value:
They hoped that this month's good sales would balance out the poor sales in the previous month.
[ T ]
to give two or more things equal amounts of importance, time, or money so that a situation is successful:
I struggle to balance work and family commitments.
a balancing act
a situation in which a person tries to give equal amounts of importance to two or more things so that a situation is successful:
Outsourcing decisions are essentially a balancing act between the benefits of markets, lower production costs, and higher transaction costs.