Balances

Balances refer to the difference between the total amount of money coming in (income or credits) and going out (expenses or debits) in a financial account. For example, a bank account balance shows how much money you have available—if you’ve deposited more than you’ve spent, your balance is positive; if you’ve spent more than you’ve deposited, it might be negative or zero. Balances help you understand your current financial position at a glance, guiding budgeting, spending, and financial planning. They are essential for managing personal and business finances effectively.