Balance (accounting)
The balance ( " fixed ", meaning " moor " from the Italian adjective balance, salda; plural balance, balances or balances) is in the records the difference between the debit and the credit side of an account. Are the sales in the target ( = left side account ) than in the Do ( = right-hand side account ) results in a debit balance, otherwise a credit balance. The balance displays the " stock" of an account, ie, the value with which it is transferred to the balance sheet or the profit and loss account.
Financial Accounting
A stock account with debit balances is under assets on the balance sheet of the merchant (left side ) are reported, one with a credit balance under liabilities ( right side ). Of this assignment, the terms " surplus " or " debit balance " derive. A profit and loss account with a debit balance is included in the profit and loss account for the expenses, one with a credit balance in income.
To compensate for a negative balance, the same amount on the credit side must be booked. Oppositely is to proceed with the credit balance. The reclassification of balances by the financial statements or when an account is closed. Are the open items that make up the balance, not known, must be carried out usually a reconciliation of balances previously, since unexplained balances do not meet the generally accepted accounting principles.
Overdraft and bank account balances
In the current account of the balance is referred to as the excess that is due to one or the other party ( § 355 paragraph 1 HGB). The debit balance is in accordance with a customer account, the credit balance on a credit-side balance. In a Kontokorrentbeziehung the balances of the accounts are reconciled periodically and confirmed each other through balance acknowledgment. This must be done under commercial law at least once a year ( § 355 paragraph 1 HGB), the terms and conditions see in doubt quarterly financial statements before (No. 7, Section 2 Conditions of savings banks). The bank statement that created the bank for its customers, is therefore legally no balance acknowledgment, but to be regarded as informational daily balance.
While a credit balance of bank customers in the bank account is a requirement of irregular detention pursuant to § 700 BGB, the debit balance is a loan payable within the meaning of § 488 BGB. Receipts and payments to the bank account are therefore usually also acts in the creation or performance of the said obligations or individual obligations from them. In the case of credit-side bank accounts cash payments represent the return of custody for the customer ( § 688 BGB) and cash to the devotion of the money is to be conserved and ( § 700 German Civil Code); in debit accounts are cash payments as loan disbursements to view cash deposits as loan repayments (§ § 488 ff BGB).
" Value -driven balance " or " Valutensaldo "
The current balance or " valuta balance " includes all account movements that are associated with an interest rate effect until the date the balance determination, so do not take into consideration any bookings with a later value date as checks and debit bookings or open securities, foreign exchange, foreign or precious metal accounts whose interest only takes effect later. This " valuta Balance " is the balance with which the account holder must calculate.
Book balance
In everyday language, the balance covering all bookings regardless of their interest rate effect, often referred to as a book balance or bank balance. This balance includes all existing account sales, even if they do develop any interest effect. From the perspective of accounting is under balance of accounting treatment balance understood, ie the balance of all current bookings made. This means that in this case all known up to that account sales are listed, even if the value date (value date) is made later. The interest rate effect occurs in this case one with reaching the value date.
Misleading balance
The above distinction of the species balances shows the complexity of this issue, which is of an average bank customers is difficult to see through. If a balance displayed in the online banking or ATM, the question arises as to what balance it is here. However, we must assume that he may have notified immediately with a credit balance of the customer. However, this need not be the case with a displayed book balance. The Bundesgerichtshof ( BGH) was in 2002 before a case for decision, in which a pensioner on 29 September an account balance information received about their current (book) balance, which already contained their future pension credit value date October 1st. To this end, the BGH decided that it would be inadmissible if the bank book balance display at the ATM. This leads to the fact that the customer take off funds which, although the accounts in, but not the value date credited to the account. In order for the banks breached their contractual obligations under a current contract if they each in the last days of the month on balance inquiries at ATMs incorrect information about the status of their current accounts from other members account holders (§ § 676f, § 675 para 1 BGB in connection with § 666 BGB ). This mislead customers is easily avoidable. Either by explanatory notes or by ( partial) waiver of the additional customer service an automated information about the account balance The account balance inquiry at the ATM was, according to the Supreme Court as a credit as established by the expulsion of pension payments before their value position that a large number of customers at a balance inquiry can be misled. The customers might be encouraged by this account balance information through unintentional overdrafts to take credit offered by banks claim that they would not have taken on the true account balance statement to complete. In continuation of this case-law that the Supreme Court decided in 2007 that account statements are misleading, if the account balance does not " worth Asked " includes amounts which to value date can not be disposed of without load with nominal interest rates, even if the individual turnovers the different Show value positions.
Differences between accounting and value date, which can not be seen directly the reported average daily balance, occur in retail payments frequently. However, as is the Federal Supreme Court continued, was not so specified account balance wrong. For he will give the daily balances available for the customer again applicable, which should be distinguished from the relevant interest calculation for the intermediate balances. But also objectively inaccurate information could be misleading when a significant proportion of the relevant account holders might attribute an incorrect idea. In the opinion of the Supreme Court in any case does not detect a significant proportion of bank customers for lack of any indication in the account balance the difference between available balance and interest- free state credit, so these customers incorrect ideas about arise, to what extent they may have no interest charges.
The banks have an indication of the book balance set largely due to these court decisions, or do not charge debit interest more for these so-called " concealed overdrafts ".
Balance acknowledgment
The balance acknowledgment is a legal transaction in which one party at the end of a billing period is carried out ( the receivables are netted ) offering and the balance calculated for adoption. After today, the prevailing opinion, the balance acknowledgment is an abstract acknowledgment of debt within the meaning of § 781 BGB. The regular release of the balance also represents a request for completion of an abstract acknowledgment of debt agreement on the notified balance dar. This request is accepted by the other Party by the declaration of recognition of the balance. Since the balance acknowledgment pursuant to § § 780 BGB, § 350 HGB is not bound form, the consent may also be implied. This effect is not to be confused with a legal transaction approval of all postings to the accounts of the underlying. Debit entries like direct debits, which corresponds to no demand of the paying agent shall be approved by the acknowledgment of debt neither legally nor easily. Even if the debtor has not objected to several months, the debit entries, is herein no warranty, implied consent.
With the completion of this new contract void the previously existing claims by way of novation, and in its place the abstract balance claim, which is HGB bear interest based on express arrangement of § 355 paragraph 1. He is both transferable, pledged and subject to attachment.