In plain English
It refers to the part of a total charge that has not been cleared yet. That money is still owed on an account, bill, or loan until it is paid.
In context
Here, "outstanding balance" reports the amount on the account or bill that has not yet been paid and is still owed.
- Situation
- Understanding invoices, billing statements, balances, due dates, credits, and receipts
- What it communicates
- labels the unpaid amount still remaining on the account or bill
Meaning limits
The term by itself does not say when that amount must be paid or whether it is already overdue.
Examples
“After she paid part of the bill, the outstanding balance was £240.”
“The loan statement showed an outstanding balance of €58 after the first instalment.”