What is external transaction in SAP FI-BL - Bank Accounting?

SAP Term: external transaction

• Component: FI-BL

• Component Name: Bank Accounting

• Description: The bank enters what the transaction type is in the bank statement. Examples: 051,,Bank Transfer - Credit 206,,Foreign Bank Transfer

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• Key Concepts: 
  External transactions are transactions that are initiated outside of the SAP system. This includes payments, transfers, and other financial activities that are not initiated within the SAP system. In the FI-BL Bank Accounting component, external transactions are used to record and track payments and transfers between banks and other external entities. 
  
  How to use it: 
  External transactions can be created in the FI-BL Bank Accounting component by entering the necessary information into the relevant fields. This includes the date of the transaction, the amount, and any other relevant details. Once all of the information is entered, the transaction can be saved and processed. 
  
  Tips & Tricks: 
  When creating external transactions in FI-BL Bank Accounting, it is important to ensure that all of the necessary information is entered correctly. This includes double-checking all of the details before saving and processing the transaction. Additionally, it is important to keep track of all external transactions in order to ensure accuracy and compliance with regulations. 
  
  Related Information: 
  For more information on external transactions in FI-BL Bank Accounting, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide detailed tutorials on how to use this component of SAP software.