The Greenland Ice Sheet (GrIS) is currently losing ice mass as the result of changes in the complex ice-climate interactions that have been driven by global climate change. In order to accurately predict future sea level rise, the mechanisms driving the observed mass loss must be better understood. Here, we combine data from the satellite gravimetry mission GRACE, surface mass balance (SMB) output of RACMO 2.3, and ice discharge estimates to analyze the mass budget of Greenland at various temporal and spatial scales. Firstly, in agreement with previous estimates, we find that the rate of mass loss from Greenland observed by GRACE was between −277 and −269 Gt/yr in 2003–2012. This estimate is consistent with the sum of individual contributions: surface mass balance (SMB, around 216 ± 122 Gt/yr) and ice discharge (520 ± 31 Gt/yr), indicating a good performance of the regional climate model. Secondly, we examine the average accelerations of mass anomalies in Greenland over 2003–2012, suggesting that the SMB (−23.3 ± 2.7 Gt/yr2) contributes 75 % to the total acceleration observed by GRACE. The remaining contributions to the mass loss acceleration for entire Greenland are statistically insignificant. Finally and most importantly, this study suggests the existence of a substantial meltwater storage during summer, with a peak value of 80–120 Gt in July. The robustness of this estimate is demonstrated by using both different GRACE-based solutions and different meltwater runoff estimates (namely, RACMO 2.3 and SNOWPACK). Meltwater storage in the ice sheet occurs primarily due to storage in the high-accumulation regions of the southeast (SE) and northwest (NW) parts of Greenland. Analysis of seasonal variations in outlet glacier discharge shows that the contribution of ice discharge to the observed signal is minor (at the level of only a few Gt) and does not explain the intra-annual differences between the total mass and SMB signals.@en