What is withdrawal with settlement in SAP FS-AM - Account Management?

SAP Term: withdrawal with settlement

• Component: FS-AM

• Component Name: Account Management

• Description: A business object that depicts the calculation and posting of interest when a withdrawal is made from an account. In , withdrawal with settlement is managed as an order by Order Management.

Smart SAP Assistant

• Key Concepts: 
  Withdrawal with settlement is a process in the SAP FS-AM Account Management component that allows users to withdraw funds from an account and settle the balance of the account at the same time. This process is used when a customer wants to close an account and settle any outstanding balances. 
  
  How to use it: 
  To use withdrawal with settlement, users must first select the account they wish to close. Then, they must enter the amount of money they wish to withdraw from the account. Finally, they must enter the details of the settlement, such as the date and type of payment. Once all of this information is entered, the withdrawal with settlement process can be completed. 
  
  Tips & Tricks: 
  When using withdrawal with settlement, it is important to double-check all of the information entered to ensure accuracy. Additionally, it is important to make sure that all outstanding balances are settled before closing an account. 
  
  Related Information: 
  For more information on withdrawal with settlement in SAP FS-AM Account Management, please refer to SAP's official documentation on the topic. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to use this feature.