What is cash management and forecast in SAP FI - Financial Accounting?

SAP Term: cash management and forecast

• Component: FI

• Component Name: Financial Accounting

• Description: The short-term and medium-term access to liquid or near-liquid financial resources.

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• Key Concepts: 
  Cash management and forecast is a component of SAP Financial Accounting (FI) that helps companies manage their cash flow. It enables users to forecast cash flow, analyze liquidity, and manage payments and receivables. It also provides tools for managing liquidity risk and optimizing cash flow. 
  
  How to use it: 
  Cash management and forecast can be used to create cash flow forecasts, analyze liquidity, and manage payments and receivables. It also provides tools for managing liquidity risk and optimizing cash flow. The component also allows users to set up payment plans, monitor payment status, and reconcile bank accounts. 
  
  Tips & Tricks: 
  When using cash management and forecast, it is important to ensure that all data is accurate and up-to-date. This will help ensure that the forecasts are accurate and reliable. Additionally, it is important to regularly review the forecasts to ensure that they are still relevant. 
  
  Related Information: 
  Cash management and forecast is closely related to other components of SAP Financial Accounting such as Accounts Receivable (AR), Accounts Payable (AP), Treasury Management (TM), and Bank Accounting (BA). Additionally, it can be used in conjunction with other SAP modules such as Materials Management (MM) and Sales & Distribution (SD).