Kontojäägi

Kontojäägi is a term used in Finnish accounting and finance. It translates to "account balance" or "ledger balance" in English. This term refers to the outstanding amount in a specific financial account at a particular point in time. It represents the difference between the debits and credits recorded for that account. For example, a bank account's kontojäägi would show how much money is currently available. In business, kontojäägi is a fundamental concept for tracking financial transactions, managing cash flow, and preparing financial statements. Each account within a company's chart of accounts will have its own kontojäägi. Maintaining accurate kontojäägi is crucial for financial reporting and decision-making.