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opening balancenoun1The amount of money in a bank account when it is opened: there is a $25 minimum opening balance...- A savings account for university fund will generally accept higher opening balances.
- This flexible account has no set term and no minimum opening balance or deposit, plus no account-keeping fees.
- Setting up an account is usually as easy as downloading the application forms, signing them, and folding them nicely into an envelope with a cheque to provide an opening balance to your account.
2The amount of money in a company’s account that is brought forward at the start of an accounting period: a statement shows the opening balance at just $27,000...- The total income for 2003 including the opening balance was in excess of €144,000.
- She presented the meeting with her financial report and she informed the meeting that the council had an opening balance of approx. €6,000 at the start of the year.
- The plan fund of the corporation for 2002–03 included the opening balance of the previous year.
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