answersLogoWhite

0


Best Answer

The average monthly balance is calculated by adding the ending monthly balance for the period (usually 12 months) and dividing this by the period. e.g. For a period of 12 mos with an ending balance at the end of each month of $12 you would have 12+12+12+12+12+12+12+12+12+12+12+12=144 and 144/12= $12. Therefore the average balance over the period is then $12. Hopes this helps.

It is the sum of the end of day balance in the account for each day in the quarter, divided by the number of days in the quarter.

http://www.hdfcbank.com/personal/accounts/aqb_pop_up.htm#3

The question did not indicate the period. It is the sum of the end of every day balance in the account divided by the period for which calculations are made. To amplify the sum of daily balances will be divided by number of days, if you need average daily balance, and by months in case you need monthly average etc.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

15y ago

add all of the balances together and then divide that number by the amount of balances that you added

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How do you calculate an average balance on your bank statements?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

To calculate your adjusted bank balance youll need to locate your?

To calculate your adjusted bank balance youll neet to locate your outstanding checks and subtract them from the subtotal to ger the statement balance.


Why does the owner of a business calculate profit?

to reconcile the cash book balance with the balance on the bank statement


To calculate your adjusted bank balance you'll need to locate all of your what?

To calculate your adjusted bank balance you will need to locate all of your outstanding checks. You will then subtract the amount on the checks from the subtotal in order to get your statement balance.


What is the average american's bank balance?

$2,100


How do you calculate bank balance?

call the banks customer service and ask for your balance. Make sure all checks and debits have been taken out, if they have not, then subtract them from the balance the bank tells you. That number would be your balance


What is the purpose of a bank reconciliation?

Main purpose of bank reconciliation is to rectify the errors or differences that may occur between bank balance as per bank statements and bank balance as per our books of accounts to bring the both balances at one amount and tally each other normally at the end of month.


How do you check account Balance in Habib Bank Limited 6month statment in my account?

6 month's statements


how to check my account on line?

how do I check my account on line? I want my remaining balance I want to check my bank statements.


How can you see your bank balance?

Depending on what country you are in, and what bank you are with, your options vary. In the UK, you can choose to receive a balance-slip at any ATM which gives you the balance of your bank account. Online banking is also becoming more common which allows you to view your balance online. Lastly, statements can be chosen to be sent to an address every month containing information about your bank account.


What should you do after receiving your statement from the bank?

You should compare your statement from your bank with your expenses and deposits to make sure they are correct. You can use your bank statement to balance your checkbook. Then you should file it with your other monthly bank statements.


Why does a cash book bank column balance differ from the bank statement balance?

This happens when some transactions are recognized as unpresented and uncredited, they can be in forms of cheque or normal transactions. likewise, transactions like Income credited by the bank, direct deposit made by customs, direct payments by the bank bank charges, interest charges, wrong credit by bank etc, so these will absolutely bring the differences of Your Cash Book and Bank Statements Balance,


Why you make bank reconcilation statements?

Ending bank account balance per bank statement - add deposits made before and upto the date of the ending balance on the bank statement that are not on the bank statement - subtract checks and other expenses (debit cards, etc) made before and upto the date of the ending balance on the bank statement that are not on the bank statement - the end result is the reconciled bank account balance. 'Bank reconcilation statement' means veryfying / realising every transactions done with bank. It may be related with payment made or credit received or particular interest charged or received.