What is account balance in SAP FI - Financial Accounting?

SAP Term: account balance

• Component: FI

• Component Name: Financial Accounting

• Description: A display of the business transactions posted to an account in the form of an overview, broken down by posting period, debits and credits. The balance for the posting period and the accumulated balance of the account are also displayed.

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• Key Concepts: 
  Account balance is a term used in SAP Financial Accounting (FI) to refer to the difference between the total debit and total credit amounts for a given account. It is calculated by subtracting the total credit amount from the total debit amount. The account balance is used to determine the financial position of an organization. 
  
  How to use it: 
  In SAP FI, account balances can be viewed in the General Ledger (G/L) Account Balance report. This report displays the current balance of all G/L accounts, as well as the opening and closing balances for each period. The report can be filtered by company code, fiscal year, and other criteria. 
  
  Tips & Tricks: 
  It is important to ensure that all transactions are posted correctly in order to maintain accurate account balances. If an incorrect transaction is posted, it can cause discrepancies in the account balance and lead to inaccurate financial reporting. 
  
  Related Information: 
  The account balance is closely related to other financial terms such as trial balance and financial statement. The trial balance is a list of all G/L accounts and their balances at a given point in time, while a financial statement is a summary of an organization’s financial position over a period of time.