Beginning Balance & Savings Accounts Explained:

In contrast to the average daily balance and the ending balance, typically the beginning balance is the starting amount for the statement period. This gives the cleared sum of deposits as-of-then, minus payouts like bank service charges and fees and checks that have been paid on the account.

Since paper statements issued to account holders are often received four to five weeks or more after the actual beginning balance occurs, gaining access to an account electronically via online helps bypass this time delay. In this way, incorrect balances may as well be more readily dealt with and resolved.