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Accounting Terms
Balance Due
Definition
The total amount remaining to be paid on an invoice or account.
Overview
Balance due shows what the client owes after accounting for any deposits, partial payments, or credits. It's the amount needed to settle the account.
Example
Invoice total: $5,000. Deposit paid: $2,000. Balance due: $3,000.
Best Practices
Always show balance due clearly, especially after partial payments. Include payment history for context.
Common Mistakes to Avoid
Not updating after partial payments
Confusion with total amount
Missing payment credits
Frequently Asked Questions
How do I handle partial payments?
Record each payment, update the balance due, and send updated statements.