What is end-of-day processing in SAP FS-AM - Account Management?

SAP Term: end-of-day processing

• Component: FS-AM

• Component Name: Account Management

• Description: The execution of various periodic processes. &EXAMPLE& Set the posting cut-off for the payment transactions Execute the cash concentration run Execute the account settlement Execute the bank statement run Raise the posting date for the settlement postings Post the standing orders Execute the interest accrual / deferral Execute the balance sheet preparation General ledger transfer

Smart SAP Assistant

• Key Concepts: 
  End-of-day processing is a feature of the FS-AM Account Management component of SAP. It is used to process all transactions that have been entered into the system during the day and to update the accounts accordingly. This ensures that all accounts are up to date and accurate. 
  
  How to use it: 
  To use end-of-day processing, first enter all transactions into the system. Once all transactions have been entered, select the “End of Day” option from the menu. This will process all transactions and update the accounts accordingly. 
  
  Tips & Tricks: 
  It is important to ensure that all transactions have been entered correctly before running end-of-day processing. This will ensure that all accounts are updated accurately and that there are no discrepancies in the data. 
  
  Related Information: 
  End-of-day processing is an important part of maintaining accurate financial records in SAP. It is also used to generate reports such as balance sheets and income statements. Additionally, end-of-day processing can be used to reconcile accounts with external sources such as banks or other financial institutions.