What is flexible balance in SAP FS-AM-IM-BC - Balances?

SAP Term: flexible balance

• Component: FS-AM-IM-BC

• Component Name: Balances

• Description: Concrete, value-based feature of a turnover class. Criteria are defined for each turnover class, on the basis of which specific account turnovers are selected and brought together in a flexible balance for each account.

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• Key Concepts: 
  Flexible balance is a component of the SAP FS-AM-IM-BC Balances module. It allows users to define and manage their own balance sheet accounts, which can be used to track and report on financial data. The flexible balance feature enables users to create custom accounts that can be used for reporting purposes, such as tracking expenses or income. 
  
  How to use it: 
  To use the flexible balance feature, users must first create a new account in the SAP system. This can be done by navigating to the FS-AM-IM-BC Balances module and selecting the “Create Account” option. From there, users can enter the desired account name and other details such as the account type, currency, and description. Once the account is created, users can then add transactions to it, such as payments or deposits. 
  
  Tips & Tricks: 
  When creating a new account in the SAP system, it is important to ensure that all of the details are accurate and up-to-date. This will help ensure that all transactions are properly tracked and reported on. Additionally, it is important to keep track of any changes made to an account, as this could affect its reporting capabilities. 
  
  Related Information: 
  For more information on how to use the flexible balance feature in SAP FS-AM-IM-BC Balances, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this feature effectively.