What is cash journal in SAP FI - Financial Accounting?

SAP Term: cash journal

• Component: FI

• Component Name: Financial Accounting

• Description: A double-entry compact journal managed in account form that records the postings for cash transactions. By setting the cash balance at the beginning of the day, the cash journal shows the cash balance at any time by adding the cash receipts and deducting the cash expenses. The cash journal also serves as a basis for entries in the general ledger and thereby represents the "Cash" G/L account.

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• Key Concepts: 
  Cash journal is a component of SAP Financial Accounting (FI) that allows users to record and manage cash transactions. It is used to document all incoming and outgoing payments, such as customer payments, vendor payments, and bank transfers. The cash journal also provides a way to track the status of payments and reconcile them with the general ledger. 
  
  How to use it: 
  To use the cash journal, users must first create a document type for the cash journal. This document type will be used to identify all transactions that are recorded in the cash journal. Once the document type is created, users can enter transactions into the cash journal. The transactions can be entered manually or imported from other systems. After entering the transactions, users can post them to the general ledger and reconcile them with other accounts. 
  
  Tips & Tricks: 
  When entering transactions into the cash journal, it is important to ensure that all information is accurate and up-to-date. This will help ensure that all transactions are properly recorded and reconciled with the general ledger. Additionally, it is important to regularly review the entries in the cash journal to ensure that all transactions are accounted for. 
  
  Related Information: 
  For more information on using the cash journal in SAP Financial Accounting (FI), please refer to SAP Help documentation or contact your local SAP support team.