What is 'balance' in SAP FI - Financial Accounting?

balance - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: An amount resulting from the difference between the debit and credit side of an account or document. There are the following types of balances: Credit balance credit side is larger Debit balance debit side is larger

balance - Details

• 
  Key Concepts: 
  Balance in SAP FI Financial Accounting is the difference between the total debit and total credit amounts of a given account. It is used to ensure that the double-entry bookkeeping system is balanced. The balance of an account can be viewed in the Balance Sheet or General Ledger.
  
  How to use it: 
  In order to view the balance of an account, you must first access the Balance Sheet or General Ledger. Once there, you can select the account you wish to view and the balance will be displayed. You can also use the Balance Sheet or General Ledger to view the balances of multiple accounts at once.
  
  Tips & Tricks: 
  It is important to remember that the balance of an account is not necessarily equal to its current value. The balance of an account is determined by its total debit and total credit amounts, which may not reflect its current value.
  
  Related Information: 
  For more information on balance in SAP FI Financial Accounting, please refer to SAP's official documentation on Balance Sheet and General Ledger. Additionally, you can find more information on double-entry bookkeeping and how it relates to balance in SAP FI Financial Accounting.