Skip to main content
Language Foundation

previous balance

The previous balance is the balance shown at the end of the preceding billing or account statement, carried forward as the starting balance for the current statement.

In plain English

This is the amount that was still on the account when the last statement ended. That closing amount is carried into the new statement as the starting point.

In context

Here, it labels the amount already on the account before the current statement period began.

Situation
Understanding invoices, billing statements, balances, due dates, credits, and receipts
What it communicates
labels the amount already on the account before the current statement period

Meaning limits

By itself, the term does not show how the account changed after that earlier closing balance.

Examples

“The previous balance was $120 before any of this month's charges were added.”

Core meaning

“When the new statement opened, the unpaid repair bill appeared as the previous balance on the account.”

In context

  • balance Broader Term

    It is a specific kind of balance amount on an account or statement.

  • current balance Contrast

    Current balance includes later account activity, while previous balance is the earlier closing amount carried forward.