What is functional account in SAP FIN-FSCM-CLM - Cash and Liquidity Management?

SAP Term: functional account

• Component: FIN-FSCM-CLM

• Component Name: Cash and Liquidity Management

• Description: A type of bank account that is used in financial activities such as loans, investments, and fund raising.

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• Key Concepts: 
  A functional account is a type of account in the SAP Cash and Liquidity Management (CLM) component of the Financial Supply Chain Management (FSCM) module. It is used to track the financial activities of a company, such as cash flow, liquidity, and investments. It is also used to manage the company's financial risk. 
  
  How to use it: 
  Functional accounts are used to track the financial activities of a company. They can be used to monitor cash flow, liquidity, and investments. They can also be used to manage financial risk by providing an overview of the company's financial position. 
  
  Tips & Tricks: 
  When setting up functional accounts in SAP CLM, it is important to ensure that all relevant information is included. This includes the account name, type, currency, and any other relevant details. It is also important to ensure that all transactions are accurately recorded in the functional accounts. 
  
  Related Information: 
  For more information on functional accounts in SAP CLM, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to set up and use functional accounts in SAP CLM.