What does it mean when my bank account shows an available balance?

Know what an available balance means on your bank account so that you avoid overdrafts. The legder balance listed on your account is just the initial balance at the start of the banking day.

Why do I get two balances on my bank account?

When you view your bank account online or call in to check your account, you likely get two balances — the ledger and the “available balance.” Sometimes they equal each other, but in many cases they show different amounts. Know what an available balance means on your bank account so that you avoid overdrafts.

How to reconcile bank balance to general ledger?

Verify that any bank charges shown on the bank statement, such as miscellaneous bank charges, are also entered in the general ledger account. Reconcile the general ledger balance to the bank balance by subtracting all outstanding checks shown in the ledger but not yet reflected in the bank statement from the bank total.

Which is the first transaction recorded in a bank account?

This will likely be one of the first transactions recorded in the register and it’s essentially the beginning balance of the account.

What does it mean to have available balance in bank account?

Funds Available. Your available balance is the amount you can spend right now. You might think of it as “funds available to withdraw,” but there are several ways to use the money. Withdraw cash: you can take that amount out of your account in cash, either at an ATM or with a bank teller.

What was the balance of Balan bank in 2004?

On 31st December 2004, the bank balance as per Union Bank Statement and the State Bank statement were Rs 556 and Rs 1,308 respectively. But the bank balance in Balan’s books on that date were Rs 2,870 (Dr.) and 4,680 (Dr.) respectively.

What is the bank balance as per pass book?

From the following particulars, ascertain the Bank balance as per Pass Book as on 31st December. 1. The Bank balance as per Cash Book on the date was Rs 11,500. 2.

When you view your bank account online or call in to check your account, you likely get two balances — the ledger and the “available balance.” Sometimes they equal each other, but in many cases they show different amounts. Know what an available balance means on your bank account so that you avoid overdrafts.