Does Amount Due -0.03 on a statement mean that they owe you 3 cents?

Answer 1

Let's use the example of an electric bill. Let's say you owed a month's electric bill of $329.47 cents. However, you like to work with even numbers or cents. So you pay $329.50. This would show as a "credit" to you of -0.03 means they are holding 3 cents in your favor. If you had paid $330.50 (on 329.47) to make a even more "even" payment, you'd be owed $1.03 (written on the statement as -1.03). But on the same statement, which serves as your next bill, you also owe a new bill of $360.28 cents. If you want everything to be even---so they owe you nothing and you owe nothing---you would pay $360.25 which would make a zero balance owed/due on both sides, at least until your next bill arrives.

Do you know... If you end services from a company and will not use them again anytime soon, and you have a 3-cent credit (meaning in your favor), the company must send you a check for that tiny 3-cents. They don't get to keep an overpayment (e.g. a credit owed to you). If, however, you continue to use the company, just let that credit fold into your next payment, so the balance due and balance now become zero.

Answer 2

Yes. If the amount due has a minus-sign before it - that means they owe you money.