(in winemaking) the degree to which all the attributes of a wine are in harmony, with none either too prominent or deficient. What made you want to look up balance? "he accumulated a healthy balance with the savings bank" the difference between an amount due and an amount paid. Dictionary.com Unabridged When total debits exceed total credits, the account indicates a debit balance. a wheel that oscillates against the tension of a hairspring to regulate the beats of a watch or clock. Average monthly balances are used by banks in deposit accounts and by creditors to assess stability with income and spending. Average monthly balances are … to serve as a counterpoise to; counterbalance; offset: The advantages more than balance the disadvantages. How do I use my Visa Gift card over the phone? Do these scales balance? to weigh in a balance. You’ll want to make sure that your gift card’s balance is enough to cover the amount of your purchase. Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. The American Heritage® Science Dictionary In this example, there are 31 days in the month of January. A simple average balance between a beginning and ending date is calculated by adding the beginning balance and the ending balance together, then dividing that amount by two. Average daily balance is most commonly used by credit card companies to calculate monthly finance charges. On balance, the new product is doing well. Mississippi’s nickname comes from the magnificent trees that grow there. What is it? Can you spell these 10 commonly misspelled words? By law, credit card companies must show how they calculate finance charges. The average daily balance of the above example is $1,129.03 ($35,000 / 31). The offers that appear in this table are from partnerships from which Investopedia receives compensation. While the jury deliberated, his fate rested in the balance. This is an example of how credit card companies calculate average daily balance. ; be in equilibrium: The account doesn't balance. “balance” - a figure representing the difference between credits and debits in an account; the amount of money held in an account. Build a city of skyscrapers—one synonym at a time. Who Is The “Jack” In The Term “Jack-o’-lantern,” Anyway? He would balance and temporize endlessly before reaching a decision. The average collected balance is the balance of collected funds (less any uncleared or uncollected deposits) in a bank account over a specified period. The substance to be weighed is placed in one pan and known weights are placed in the other until the beam returns to the horizontal, an imagined device for assessing events, actions, motives, etc, in relation to each other (esp in the phrases, the act of weighing factors, quantities, etc, against each other, let me have the balance of what you owe me, equality of debit and credit totals in an account, the state of a chemical equation in which the number, kind, electrical charges, etc, of the atoms on opposite sides are equal, to assess or compare the relative weight, importance, etc, of, to compose or arrange so as to create a state of harmony, to bring (a chemical or mathematical equation) into balance, to compute the credit and debit totals of (an account) in order to determine the difference, to equalize the credit and debit totals of (an account) by making certain entries, to settle or adjust (an account) by paying any money due, (of a business account, balance sheet, etc) to have the debit and credit totals equal, to match or counter (one's dancing partner or his or her steps) by moving towards and away from him or her, the constellation Libra, the seventh sign of the zodiac.