Definitions for "Opening Balance"
The balance of an account when it is initially opened, or the balance carried over from the previous accounting period, (i.e. last accounting periods’ closing balance.)
The balance of an account at the beginning of a period.
The amount of money held in a specific account (e.g. a bank account) at the beginning of an Accounting Period. It should be the same as the Closing Balance from the previous Accounting Period.