What is write-off for off-balance accounting in SAP FS-LOC-RU - Localization of Banking in Russia?

SAP Term: write-off for off-balance accounting

• Component: FS-LOC-RU

• Component Name: Localization of Banking in Russia

• Description: A bad debt that is declared non-collectible by a bank and removed from the balance sheet for off-balance accounting. Banks keep these off-balance accounts to keep track of the accounting in case the customer repays the debt.

Smart SAP Assistant

• Key Concepts: 
  Write-off for off-balance accounting is a feature of the FS-LOC-RU Localization of Banking in Russia component of SAP software. This feature allows companies to write off accounts receivable and accounts payable that are not part of the balance sheet. This is done by creating a write-off document that is posted to the general ledger. The write-off document is then used to adjust the balance sheet accordingly. 
  
  How to use it: 
  To use this feature, companies must first create a write-off document. This document should include the accounts receivable and accounts payable that are not part of the balance sheet. Once the document is created, it should be posted to the general ledger. The write-off document will then be used to adjust the balance sheet accordingly. 
  
  Tips & Tricks: 
  When creating a write-off document, it is important to ensure that all accounts receivable and accounts payable are included in the document. Additionally, it is important to ensure that all relevant information is included in the document, such as the date of the write-off and any other relevant details. 
  
  Related Information: 
  The FS-LOC-RU Localization of Banking in Russia component of SAP software also includes features such as automatic payment processing, electronic bank statement processing, and automated reconciliation of bank statements. Additionally, this component also includes features such as automated tax calculation and reporting, as well as automated currency conversion.