mérlegfösszege

Mérlegfösszege is a Hungarian term that translates directly to "balance summation" or "balancing sum." It refers to a crucial accounting and financial practice. In essence, it is the process of ensuring that all financial records within a given period are balanced. This means verifying that the total credits equal the total debits, and that all transactions have been accounted for accurately.

The purpose of a mérlegfösszege is to confirm the integrity of a company's or individual's financial statements. It is a fundamental step in preparing financial reports such as the balance sheet and income statement. By meticulously summing up all ledger balances, accountants can identify any discrepancies or errors that might have occurred during the accounting cycle.

This practice is typically performed at the end of an accounting period, which could be monthly, quarterly, or annually. It involves reviewing general ledger accounts and subsidiary ledgers, comparing them against source documents, and making any necessary adjustments or corrections. A successful mérlegfösszege indicates that the accounting system is functioning correctly and that the financial data is reliable. It is a cornerstone of sound financial management and regulatory compliance.