What's The Difference Between Available Balance And Ledger(book) Balance? - Business - Nairaland
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| What's The Difference Between Available Balance And Ledger(book) Balance? by Whizpeter(m): 3:07pm On Jul 18, 2016 |
Hello guys, for a long time now, I've been trying to get the explicit difference between these two balances used in our banking system.. Most times, when I use an ATM to perform a balance inquiry, these two balances appear before me and most times they carry different figures (The available balance is always the right one tho..) which confuse me at times. Someone should help me out on this especially the bankers in the house. Cc Lalasticlala  |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Benjom(m): 3:14pm On Jul 18, 2016 |
I think "Available Balance" is the one you can actually withdraw or available for withdrawal while the "Ledger Balance" is the sum total of cash that is avilable for withdrawal and the ones that have not been cleared but on hold or assumed to be yours tentatively e.g.: cheque. I'm open to correction though. 1 Like |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Nobody: 4:41pm On Jul 18, 2016 |
Benjom: You are correct. |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Whizpeter(m): 6:50pm On Jul 18, 2016 |
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| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Whizpeter(m): 6:55pm On Jul 18, 2016 |
Benjom: You could be right tho... But one confusing aspect of it is this.. Let's assume I had an initial balance of 150k in my account, I withdrew 50k over the weekend and another 25k this morning.. I received an email alert and my balances according to my bank were as follows; Available balance 75k Ledger (book) balance 150k You'd observe that the ledger balance is still reflecting my past balance while my available balance is showing the true state of things.. Why so? 1 Like |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by dollaflow(m): 7:43pm On Jul 18, 2016 |
hmmm |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Nobody: 10:43pm On Jul 18, 2016 |
Okay I would explain like I'm telling a 5 years old although, that first poster answered the question but here is a little to explain it. The ledger balance is used in reconciliation of book balances which after you account balance is determined. A slow in the process is the reason you see your previous amount in the ledger. 1 Like |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by Whizpeter(m): 11:29pm On Jul 18, 2016 |
aaronson: Thanks a bunch bro... I appreciate!!! |
| Re: What's The Difference Between Available Balance And Ledger(book) Balance? by demoiselle(f): 11:40am On Aug 08, 2017 |
please i need someone to shed more light to this. In my case, i made a payment using my banks mobile app, the transaction wasn't successful but the money was deducted. I asked for a refund and after some days the refund is reflecting only in the book balance and not the available balance |
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