Definition

The fees for services provided in the current billing cycle. They are listed on your statement along with past balances.

What to consider

  • Review previous balances for errors.
  • Ensure timely payment to prevent accumulation.
  • Contact billing if discrepancies arise.

Real world scenarios

  • Linda’s billing statement included a previous balance from an earlier cycle that had not been paid.
  • John noted a previous balance carried forward from last month on his invoice.
  • A past due amount appeared as a previous balance on Mark’s current bill.

Related terms

Healthcare