Student or Learner
What is the difference between “outstanding balance” and “remaining balance”?
Does anyone help me understanding these?
Thank you in advance!
They both mean basically the same thing, but from an accounting point of view "outstanding balance" usually (but not always) implies that payment is overdue. "Remaining balance" is simply the current balance due after the most recent payment.
When a debt collector calls a person or company that owes them money and is delinquent in their payments, they usually refer to the amount owed as an "outstanding balance."