In plain English
This is an amount that remained on the account at the end of an earlier statement period. That same amount is brought into the current statement as a carried-over starting balance.
In context
Here, "balance forward" labels the amount from an earlier statement period that has been carried into the current statement.
- Situation
- Understanding invoices, billing statements, balances, due dates, credits, and receipts
- What it communicates
- labels an earlier balance carried into the current statement
Meaning limits
The term by itself does not show whether the carried-over amount is money owed or a credit.
Examples
“April's statement opened with a balance forward of $62 from March.”
“On the new statement, the remaining $62 from March was carried in as the balance forward.”