What is 'end-of-day bank statement' in SAP FIN-FSCM-CLM - Cash and Liquidity Management?

end-of-day bank statement - Overview

• Component: FIN-FSCM-CLM

• Component Name: Cash and Liquidity Management

• Description: A document provided by banks at the end of the day as a summary statement containing the bank account movements and balances of the day.

end-of-day bank statement - Details

• 
  Key Concepts: 
  An end-of-day bank statement is a document that summarizes all of the transactions that have occurred in a bank account during a given day. It includes deposits, withdrawals, transfers, and other transactions. The statement also includes the current balance of the account. 
  
  How to use it: 
  The end-of-day bank statement is used to reconcile the bank account with the company’s internal records. This helps to ensure that all transactions are accounted for and that the company’s financial records are accurate. The statement can also be used to identify any discrepancies between the company’s records and the bank’s records. 
  
  Tips & Tricks: 
  It is important to review the end-of-day bank statement carefully to ensure accuracy. It is also important to compare the statement with the company’s internal records to identify any discrepancies. 
  
  Related Information: 
  The SAP Cash and Liquidity Management (FIN-FSCM-CLM) component provides tools for managing cash and liquidity, including tools for reconciling bank accounts and generating end-of-day bank statements.