What does minus balance mean? Accounting terminology: what is a balance? Closing the month and Closing the account

In the field of accounting, with the help of balances, specialists reflect the state of finances of a company as of a certain date. The main purpose of this term is to show the difference between the amounts that were credited to the company’s accounts and those that were written off from its accounts. In other words, it is the numerical value of the difference between the income and expenses of the company in question.

To calculate such a digital value, qualified specialists use a specific document - a balance sheet. Such a statement should record all transactions (both financial and business) for the time period for which the calculations are made.

Accounting terminology: what is a balance

In order to better understand what a balance is, let's look at a simple example of how to calculate it. Let's take the "Materials" account. At the beginning of the month there were 1000 meters of fabric (opening balance). During the billing period, another 200 meters were purchased and 600 were sold. At the end of the month, the transactions on this account were summed up. The final balance was: 1000 + 200 - 600 = 600 meters. Since this account is active, the debit exceeds the credit, it will be a debit.

In accounting, one of the most important and frequently used terms is “balance”. Its significance is well known to specialists in this field. For people who are far from accounting, the word is familiar very superficially and, as a rule, they associate it with some kind of difference. In a general sense, this is the difference that arises between funds received and spent over a certain period. However, for an economist and accountant, the concept is much deeper and broader. What is a balance and what significance does it have for accounting for financial flows in an organization? This article will answer this question.

What is the trade balance in accounting and how to calculate it

In accounting and economics, accuracy and understanding of basic processes are very important. Any mistake can be fatal. For this reason, accounting professionals must clearly understand what a balance is and what it can look like. The concept of balance is usually divided into incoming and outgoing. The first is understood as what arose during the analysis of account movements for the last analyzed period and at the beginning of a certain period.

Beginners in accounting and economics often wonder what a balance is and what an active and passive balance is. The first refers to the excess of exports over imports. As for the passive balance, this term refers to the excess of imports over exports. You can often hear about the net balance, which is a situation where exports and imports are equal.

The balance is the difference between the amount of money that the electricity consumer paid and that was charged by the energy service. If the “balance” value is zero, this means that the consumer has overpaid. Such situations are rare, but if a zero value is detected, the likelihood of overpayment can be assumed.

Such a word as balance has been known to every person for a long time, and it is associated directly with accounting, foreign trade and economics. The word balance can be found on a utility bill. Few people know what meaning this word carries, so it’s time to find out the details.

What is a balance on a receipt?

If payment for electricity was made last month, this fact should be noted on the invoice received. For this purpose, a column is used, which is called “amount other than total”. It contains the necessary information. In this case, you only need to pay the amount that is reflected in the accruals for the current month.

Those citizens who carefully study the payment they receive for electricity often wonder what the balance in the receipt is. This column is not always clear to the average person. This article will help clarify all the unclear points about paying for electricity using this type of document.

Balance in utility bills

Every month it is recommended to take readings from metering devices and submit this information to the appropriate institutions. This can also be done in the online account of the bank, which is most preferable to the citizen. Often, if a citizen simply forgets about the payment deadlines, a notification from a mobile bank saves him from this oversight.

• Section 7 of the RF Housing Code;
• Decree of the President of the Russian Federation “On federal standards for payment of housing and utilities;
• Decree of the Government of the Russian Federation “On the provision of utility services to owners and users of premises of apartment buildings and residential buildings.”

About new payments for apartments

— There is a subsection in the receipts: opening balance on the personal account. What it is?
— In relation to the personal account of a residential premises, the balance (balance) is the difference between the accrued and paid amounts. The opening balance is the balance of funds in the personal account on the first day of the month. The balance (remainder) can be either positive (overpayment on the personal account) or negative (there is an unpaid amount on the personal account). It should be noted that a negative balance on a personal account is not always a debt. In accordance with the Housing Code of the Russian Federation, consumers are required to pay for housing and communal services by the 10th day of the month following the month spent (I note that payment for January receipts has been shifted to February 25). In this regard, the opening balance (balance) will be a debt only after the 10th day of the month (in the current February after the 25th day).

People often ask why open an account for social payments, because we have, for example, a savings book or other bank account. Opening such a special account is mandatory: it is impossible to withdraw money from it. The funds received for it have a specific purpose and are intended only for the payment of housing and communal services.

What is Balance on a utility receipt?

If a certain amount is indicated in the balance clause on the receipt, it means that you have underpaid something or there is an excess balance that will be taken into account the next time you pay for utilities. If the balance is zero, then there is no balance on debt, which is usually the most convenient thing.

Our receipts are written a little differently and there is no balance column there. But as an accountant, I would venture to assume that the balance column takes into account the balance carried over from last month for unpaid housing and communal services or the total amount payable, including the amount accrued for the month + the carry-over balance. You need to see the receipt.

LLC Saratov Municipal Electric Networks Enterprise

Option 1. You make a request to call the controller using:
− call SPGES LLC on the multi-channel telephone number 24–76–76 (or district office numbers),
− filling out a special form on our website in the Electronic Services/Call a controller section,
− personal visit to the central office (Beloglinskaya, 40).

When using any of the above methods of settlements with SPGES, it is necessary to reconcile the calculations once a year in order to avoid the formation of large debts due to incorrect payment (if, for example, you did not learn about changes in tariffs or consumption standards in a timely manner). Pre-registration for reconciliation of accounts is carried out at all our branches.

Answers to frequently asked questions

• Develop a diagram of the electrical networks of the apartment with separation of power supply for residential premises and common areas.
• Coordinate the diagram of the apartment's electrical networks and electricity metering with:
  • CJSC Balashikha Electric Network (CJSC BELS)
  • CJSC Elektrosetexploitation (CJSC ELEX)
  • a housing organization that operates intra-house networks and participates in the process of transferring electrical energy from the network company’s area of ​​responsibility to the subscriber’s electrical installation.
• Reconstruct the apartment's electrical networks by dividing the power supply for residential premises and common areas to different owners.
• Install a digital electricity meter with a verification period of no more than 12 months.
• Present for inspection the installed electricity metering system for commissioning to an official of the energy sales company (Energosbyt-BAREZH LLC) and the organization operating the in-house equipment.
• Conclude a power supply agreement with Balashikha Electric Network CJSC.

Resumption of electricity services is carried out after repayment of the debt for electricity. At the same time, payment of expenses when connecting an apartment by a team of electricians in accordance with the calculation approved by the administration is 1867 rubles. 00 kopecks, the cost of work involving a car lift is 4536 rubles. 00 kopecks; remote connection/disconnection of subscribers of the ASKUE system - 195 rub. 00 kopecks; changing the tariff plan at the request of the subscriber - 195 rub. 00 kopecks.

06 Aug 2018 339

In accounting, just like in mathematics, accuracy plays a big role. There can be no conventions here. At the same time, many experts call balance one of the most significant terms. We propose to find out what a balance is, whether there is a balance in the economy, and what is commonly understood as a trade balance.

What is a balance in accounting?

Back in the 19th century it was known what a balance was. In those days, the word began to be used as a term calling the balance of funds on all accounts. The meaning remains unchanged today. However, it has now acquired a wider meaning. Previously, it was customary to use it exclusively to indicate the difference between the debit and credit of accounts. Since the 20th century, the use of the term has been able to extend beyond accounting.

This term in accounting is one of the most significant terms. Experts in this field are very well aware of its importance. The balance of payments is the difference that arises between funds spent and funds received over a certain time. For specialists, this concept is broader. The balance is divided as follows:

• debit;
• credit;
• during the period;
• outgoing;
• incoming.

What is an opening balance?

In accounting, it is important to know not only what the term balance itself means, but also what is commonly understood by such terms as incoming and outgoing balance. There is a significant difference between the opening and closing balances, which every accounting professional should definitely see. The ending balance, or, as it is often called, the closing balance, is the account balance at the end of the period. It is usually calculated as the sum of the opening balance and all turnover for the period.

What is an opening balance?

In accounting and economics, accuracy and understanding of basic processes are very important. Any mistake can be fatal. For this reason, accounting professionals must clearly understand what a balance is and what it can look like. The concept of balance is usually divided into incoming and outgoing. The first is understood as what arose during the analysis of account movements for the last analyzed period and at the beginning of a certain period.

Active and passive trade balance

Beginners in accounting and economics often wonder what a balance is and what an active and passive balance is. The first refers to the excess of exports over imports. As for the passive balance, this term refers to the excess of imports over exports. You can often hear about the net balance, which is a situation where exports and imports are equal.

Balance of payments surplus

Accountants call the balance of payments a certain result, which is reflected in the final line of a certain balance sheet of the country, which is presented in the form of a document resembling a balance sheet. It shows both the revenue and expenditure transactions of the government. The balance of payments is divided into active (positive) and passive (negative). A surplus is the balance between the current transactions account and the balance of the funds flow account.

Passive balance of the balance of payments

A negative or, as it is often called, a passive balance does not always indicate a crisis in the state’s balance of payments, since it can often be covered through the movement of entrepreneurial capital. This can be when the country has a normal investment climate for both foreign and domestic entrepreneurs. We can say that a crisis exists if a significant negative balance is regularly covered by foreign exchange and gold reserves.

How to calculate balance?

Not only accountants, but sometimes even ordinary citizens need to understand how to correctly find out the value of the balance. An example of such a situation where it is important to know about its indicator may be the need to calculate it in a receipt for utilities. Accuracy and certain knowledge are important here. However, not every novice accounting specialist knows how to calculate the balance. It is important to know the main points:

1. To calculate this value for material resources, it is necessary to add up all the money received for a certain time and expenses for a given period. In this case, you need to calculate the difference between 2 numbers, which will be the balance.
2. There are formulas with which you can calculate the balance of passive and active accounts:

• by debit = initial balance + debit turnover – credit turnover;
• by credit = initial balance + credit turnover – debit turnover. This difference is considered very convenient when drawing up reconciliation reports.

What is a balance on a receipt?

Not only specialists, but also ordinary people should know about some aspects in accounting. Sometimes even when paying for utilities, a lot of questions and misunderstandings arise, since it is difficult to understand accounting terms. One of them is considered to be the balance. For some it is a clear and simple term, but for others it has a new meaning. It is important for a modern person to understand what the balance in a housing and communal services receipt is.

This value can show the personal account balance at the beginning of this month. And when the value is positive, this indicates an overpayment for utilities. When the number is negative, there are definitely debts. Moreover, this is usually considered after the tenth day of the month following the settlement month. We can say that the balance is considered as an opening balance on the personal account of the residential premises.

In payment documents for utility bills there are several different columns that explain what exactly the payment is for. However, not everyone understands what the balance in utility bills is in 2019.

Payment for housing and communal services

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To avoid possible conflicts with government agencies, citizens need to know how and where they can pay money for the use of public services. For each service, tariffs are set by the executive authority, the energy commission and the local administration.

The latter, in turn, should not go beyond the current Russian legislation. Based on these documents, payment is collected from persons evading this payment.

At this point in time there are several different ways. The main ones are:

• postal or bank office;
• ATMs;
• payment terminals;
• electronic resources.

Receipt

Nowadays, a standard receipt for payment of electricity contains information for consumers placed in 18 columns.

It reflects:

• meter readings;
• consumed amount of electricity;
• current tariff;
• balance accrual amount;
• total amount to be paid.

This document has two columns indicating the balance:

• No. 3 - balance at the beginning of the previous month;
• No. 11 - balance at the beginning of the current month.

In order to calculate the indicator in column No. 11, you will need to add column No. 3 with No. 8 (accrual of the amount for the previous month) - No. 9 (amount paid in rubles for the previous month) + No. 10 (obtained by recalculating the amount for the previous month).

The resulting value will show what the user has if the result is positive or how much the citizen overpaid for consumed electricity if the result is negative.

If a person made all the calculations correctly, that is, the amount of money paid for this payment corresponds to the accrued amount, the balance should be equal to zero.

Legal basis

The main documents regulating the payment for premises and public notification services are:

• Section 7 of the RF Housing Code;
• Decree of the President of the Russian Federation “On federal standards for payment of housing and utilities;
• Decree of the Government of the Russian Federation “On the provision of utility services to owners and users of premises of apartment buildings and residential buildings.”

What is a balance in utility bills?

Having wondered what the balance in utility bills is and what it means, you need to know that this term is most often used in accounting. The word originally appeared in this industry back in the 19th century.

Then it meant a certain amount of finance remaining in account balances. In the modern world, the term balance extends to large sectors of activity.

At this point in time, accounting specialists note with these indicators the state of the financial security of a company in relation to a certain date.

This term shows the difference between funds received and spent on company accounts. Those. we can more simply say that the term balance denotes the difference between the income and expenses of a particular organization.

To calculate this indicator, specialists use a special document - a balance sheet, which records all transactions performed during the estimated period of time.

In relation to a receipt for payment of electricity, the balance in the payment document will mean the difference between the amount paid by the citizen and the amount accrued for this payment. The balance indicator will be equal to zero if the consumer transferred funds, the amount of which is equal to that accrued by the organization that supplies electricity.

Indication of a numerical value in the balance column on a payment receipt may mean the following:

• the consumer has a monetary debt to the company supplying electricity;
• the citizen paid excess funds when making a previous payment;
• instrument readings for the previous reporting period were not taken into account; in this case, energy suppliers will produce according to average monthly electricity consumption indicators.

The amount will not be taken into account towards the payment for this reporting period if the citizen contributed funds to pay for this payment after the payment document was generated.

Provided that a person pays the amount for consumed electricity as an overpayment, but does not include it in the receipt, the person is recommended to independently take it into account when calculating the next payment. However, for this you will need to have official confirmation of the fact of making the payment.

Due date

Receipts requesting payment of utilities usually come along with similar rent documentation.

The payment documents indicate:

• details for paying for housing and communal services;
• the amount required to be transferred for these services.

If a citizen has officially registered benefits, their availability will also be displayed on the receipt. If for any reason the receipt does not reach the citizen within the period established by law, he is recommended to contact the Housing and Communal Services Department himself, or by phone or online.

According to clause 1, payment for utilities must be made no later than the 10th day of the month following the accrual.

As a rule, all utilities are supplied to citizens before payment. However, in order not to lose them, a citizen needs to pay money for the consumed resources on time and in full. This is the most efficient system for users and utilities.

Every month it is recommended to take readings from metering devices and submit this information to the appropriate institutions. This can also be done in, which is most preferable to the citizen. Often, if a citizen simply forgets about the payment deadlines, a notification from a mobile bank saves him from this oversight.

Responsibility

If a person, fully using the utilities provided to him, refuses for some reason to pay money for them, he may face a number of troubles:

• . The penalty is a certain percentage of the rate of the Central Bank of the Russian Federation, which can change and be accrued every day. The amount to be paid for this penalty depends on the date on which the payment was received. When paying a debt within 31 to 90 days, the penalty will be 1/300 of the Central Bank key rate, after 91 days 1/130.
• After a certain period of late payments, the citizen's utilities will be disconnected. Employees have the right to turn off electricity, gas, water supply, etc. After paying off the debt, the amount to reconnect to utilities often exceeds the total amount owed.

The receipt for payment for consumed electricity has several main columns, including the “balance” as of a certain date. What does this column mean?

The term "balance"

The concept of “balance” is most often used in accounting. The word itself came into the Russian dictionary from Italian. Its literal translation is “remainder” or “calculation.” The first use of this term in the field of accounting was recorded in the nineteenth century. At that time, it was understood as a certain amount of finance that still remained in the account balance.

The modern term "balance" has a broader meaning. It can be found not only in the field of accounting, but also in the field of international trade relations.

In the field of accounting, with the help of balances, specialists reflect the state of finances of a company as of a certain date. The main purpose of this term is to show the difference between the amounts that were credited to the company’s accounts and those that were written off from its accounts. In other words, it is the numerical value of the difference between the income and expenses of the company in question.

To calculate such a digital value, qualified specialists use a specific document - a balance sheet. Such a statement should record all transactions (both financial and business) for the time period for which the calculations are made.

The peculiarity of the formation of the balance sheet lies in the type of accounts from which the digital difference indicator is calculated.

Receipt for payment of electricity and the “balance” column in it

A standard receipt for payment for consumed electricity contains information for the consumer, located in the following columns:

• No. 1 “Name of service” (for example, residential premises);
• No. 2 “Metering point number”;
• No. 3 “Balance at the beginning of the previous month” (in rubles);
• No. 4 “Initial PU reading”;
• No. 5 “Final reading of PU”;
• No. 6 “Consumption” (kW/h);
• No. 7 “Tariff” (in rubles);
• No. 8 “Accrued” (in rubles);
• No. 9 “Paid in the previous month” (in rubles);
• No. 10 “Recalculation” (in rubles);
• No. 11 “Balance at the beginning of the current month” (in rubles);
• No. 12 “Initial reading of PU at the beginning of the current month”;
• No. 13 “Current PU reading”;
• No. 14 “Consumption” (current month, in kW/h);
• No. 15 “Tariff” (current month, in rubles per kWh);
• No. 16 “Cost” (current month, in rubles);
• No. 17 “Paid in the current month before the check date” (in rubles);
• No. 18 “Total payable” (in rubles).

As you can see, the receipt for payment for used electricity has two columns with balances:

• No. 3 – balance at the beginning of the previous month;
• No. 11 – balance at the beginning of the current month.

The digital indicator of column No. 11 is calculated by calculations using the digital indicators of the following columns:

• No. 3 (balance at the beginning of the previous month) + No. 8 (amount for the previous month, accrued in rubles) – No. 9 (amount for the previous month, paid in rubles) + No. 10 (amount for the previous month, received as a result of recalculation).

The resulting digital value in column No. 11 will show:

• the user’s debt in the case of a positive result (that is, with a “+” sign), which means that the payer has a debt, the amount of which is equal to the digital indicator of the resulting balance;
• overpayment for consumed electricity in case of a negative result (that is, with a “-” sign), which means that the payer paid a larger amount of money than the utility service provider required.

The correct balance should be “zero”. This will indicate that the payer is a responsible tenant.

What do the digital indicators mean in the “balance” column in the receipt for electricity payment?

As already mentioned, the balance figures on the receipt for payment for consumed electricity are the difference between the amount of money that the payer paid and the amount of money that was charged to the consumer by electricity suppliers.

The balance indicator will be “zero” in the case when the consumer transferred an amount of money equal to that accrued by the company supplying electricity.

If a certain amount is indicated in the “balance” column on an electricity payment receipt, it may mean the following:

• monetary debt of the consumer to the electricity supplier;
• the fact of an unaccounted amount of money that was contributed in the previous reporting period;
• if instrument readings for the previous reporting period are not taken into account (in this case, the supplier company makes charges based on average monthly electricity consumption).

The paid amount may not be taken into account only if the user made the payment after this notice was generated.

Those citizens who carefully study the payment they receive for electricity often wonder what the balance in the receipt is. This column is not always clear to the average person. This article will help clarify all the unclear points about paying for electricity using this type of document.

What is the balance on an electricity bill?

As representatives of the relevant structures, who often receive similar questions from the population that does not fully understand, explain, in this case the balance is a value that was formed due to inaccurate calculations for services for the provision of electricity. It represents the resulting difference between accruals and actual payment, taking into account recalculations. Thus, the answer to the question of what the balance in the receipt for electricity means is as follows: it is a reflection of the fact that there is either a debt or an overpayment for payment for electricity. In the first case, the value of this balance is a positive value, and in the second - negative, with a minus sign.

When calculating the value of this indicator, the values ​​reflected in column number five in the received receipt are taken into account.

Why is the balance included on the receipt?

If you found this indicator in the received document and wondered what the balance is on the utility receipt, then you obviously thought about why it appeared. There are several reasons that can become the basis for reflecting such a balance, including the following:

• the presence of debt for past periods during which payment for electricity was not received in full;
• untimely receipt of payment for the previous period, as a result of which it was not recorded in the generated notice, which was reflected in the form of debt;
• the absence of actual instrument readings, as a result of which the calculation was made based on the average monthly cost.

If payment for electricity was made last month, this fact should be noted on the invoice received. For this purpose, a column is used, which is called “amount other than total”. It contains the necessary information. In this case, you only need to pay the amount that is reflected in the accruals for the current month.

It should be noted that the deadlines for submitting readings from meters installed by consumers are scheduled for a certain period of time: from the 23rd to the 26th of each month.

It is very important to adhere to them. This condition is easily met, since there are many options for how you can send your information to the relevant institution. For these purposes, it is suitable to use the payer’s personal account, call hot phone numbers, which are usually toll-free, send a message by e-mail, as well as directly when making a payment for services at any bank branch or post office.