Tuesday, December 11, 2018
Savings Accounts Guide, Banking & Interest Rate Resource.

Ending Balance & Savings Accounts Explained:

Compared with the beginning balance and the average daily balance, the ending balance typically refers to the amount in the account which represents the processed deposits that have been made and payouts that have been paid, along with any fees associated with the account.

Normally at the end of the month, the customer can view the totals for checks, withdrawals/debits and deposits/credits that are itemized in summation form for the benefit of the account holder in the form of a statement. Manually verifying that the ending balances between the savings institution and customer are in agreement, should help maintain tighter control and accuracy between personal accounting methods and that of the bank.

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