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The balance carried down (c/d) is a balance at the end of the accounting period which will be entered on the balance sheet representing closing balance. It’s also brought down (b/d) at the beginning of the following accounting period, representing the opening balance for the next accounting period.
For example: there is an expression that you have a closing balance of an account for the 30 of June, on July 1 the opening balance will be the same figure.
And you should know:
- any balance carried down at the end of an accounting period should be included on the balance sheet
- any balance carried down at the end of an accounting period, the closing balance on an account, will become the opening balance here at the beginning of the next accounting period.
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what mean by balance c/f and balance b/f?
Balance b/f = balance borught foward
You can see it as the balance of the beginning of the account.
Balance c/f = balance caught forward
You can see it as the balance of the end of the account.