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Mike01:
The meter reads modulo 100,000. This means the number system consists of the integers 0 thru 99,999, and adding 1 to 99,999 = 0. In a number system modulo 100,000 if I input the number 389,123 the result will be 89,123.
Sometimes this is called clock arithmetic. In the case of a normal clock you have the integers 1 thru 12. So military time of 1320 corresponds to 1 PM and 20 minutes.
If you make a binary counter of 10 bits, then it has a range of 0 thru 11111 11111. In decimal this translates to 0 thru 1023. Thus, it is a modulo 1024 counter. When 1 is added to 1023 the result is 0. If 10 was added to 1023 it would equal 9. If 11 is subtracted from 9 the result is 1022.
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