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

operating account - Overview

• Component: FIN-FSCM-CLM

• Component Name: Cash and Liquidity Management

• Description: A type of bank account that is used for daily business transactions, such as receiving incoming payments and issuing outgoing payments.

operating account - Details

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  Key Concepts: 
  An operating account is a type of bank account used to manage the daily cash flow of a business. It is used to record all incoming and outgoing payments, such as customer payments, vendor payments, payroll, and other expenses. The operating account is typically held at a commercial bank and is managed by the company’s finance department. 
  
  How to use it: 
  The operating account is used to manage the daily cash flow of a business. All incoming and outgoing payments are recorded in the operating account. This includes customer payments, vendor payments, payroll, and other expenses. The operating account is typically held at a commercial bank and is managed by the company’s finance department. 
  
  Tips & Tricks: 
  It is important to monitor the operating account regularly to ensure that all transactions are recorded accurately and that there are sufficient funds available for daily operations. Additionally, it is important to reconcile the operating account with the company’s general ledger on a regular basis to ensure accuracy. 
  
  Related Information: 
  The SAP Cash and Liquidity Management (CLM) component provides tools for managing cash flow and liquidity. It includes features such as cash forecasting, liquidity planning, and payment processing. CLM also provides tools for managing bank accounts, including operating accounts.