What is 'balance type' in SAP FS-LMS - Liquidity Management Suite?

balance type - Overview

• Component: FS-LMS

• Component Name: Liquidity Management Suite

• Description: Defines how new balance movements impact the balance held within LMS positions.

balance type - Details

• 
  Key Concepts: 
  Balance type is a feature of the FS-LMS Liquidity Management Suite (LMS) that allows users to define and manage different types of balances. Balance types are used to classify and group balances according to their purpose, such as cash, receivables, payables, and investments. This helps users to easily identify and manage their financial assets. 
  
  How to use it: 
  In order to use balance type in LMS, users must first define the different types of balances they wish to track. This can be done by creating a new balance type in the system. Once the balance type is created, users can assign it to any existing or new balance in the system. This will allow them to easily identify and manage their financial assets according to their purpose. 
  
  Tips & Tricks: 
  When creating a new balance type, it is important to ensure that the name is descriptive and easy to understand. This will help users quickly identify the purpose of each balance type when viewing their financial assets. Additionally, it is important to ensure that all relevant information is included when creating a new balance type, such as currency, interest rate, and other details. 
  
  Related Information: 
  For more information on how to use balance type in LMS, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS-LMS/Liquidity_Management_Suite/en-US