The debit or credit balance on a ledger at the end of an accounting period, which will appear on the balance sheet at that date and be carried forward to the next accounting period.
A credit balance is an accounting term that refers to the situation where the total of credit entries in an account exceeds the total of debit entries. These balances typically represent revenue, liabilities, or capital.
A negative consolidation difference is a term used in acquisition accounting to represent a credit balance, often reflecting negative goodwill.
An offset account reduces the gross amount of another account to derive a net balance, such as a fixed asset account that is offset by a depreciation account.
An agreement between the parties involved to offset one debt against another or one loss against a gain. Commonly used in banking to balance credit and debit balances across different accounts.
