What Is A Ledger Balance At An ATM

Here you will understand the concept about "What is a Ledger Balance at an ATM". Previously we discuss about Ledger Balance in detail. Here we discuss this topic from the point view of ATM.

There are two kinds of balances in your checking account.

Ø Opening Balance / Current Balance

The opening balance is the balance of starting the business day.

Ø Available Balance / Ending Balance

The amount which is remained in the ledger after additions and deductions from opening balance.

For Example, you have:

Opening Balance = Rs.10000

Total Deposits to your checking account for the day = Rs.1000

Total Withdraws from checking account at ATM Machine for the day = Rs.3000

Available Balance = Rs.8000

The understanding of this topic is important for understanding Business Transactions related to checking account. At start, if you are not well aware about these terms, then you probably may be confuse but when you learn these accounting terms you will feel more confidence in these kind of accounts.