The running balance is the figure shown alongside each entry in the transaction list. It tells you the position of your facility immediately after that particular movement was applied, so you can follow the account moving down the page.
How it works
Each line records an amount, and the running balance to its right reflects the account once that amount has been taken into account. The running balance on the first line starts from the opening balance, and the running balance on the final line equals the closing balance shown in the summary.
Why it is useful
- You can see the effect of any single transaction without adding up the whole list yourself.
- It makes spotting the line that caused an unexpected change much easier.
- It gives auditors a clear, step-by-step trail from opening to closing balance.
A quick check
If you ever doubt a figure, follow the running balance line by line from the opening balance, you should arrive exactly at the closing balance. If you do not, the line where it diverges is the one to ask us about. This is a record of your company's facility, since Credicorp lends only to UK limited companies and LLPs.
See also: Statement glossary: opening balance and closing balance, Statement glossary: statement period and Arrears (glossary).