What is external statement in SAP (SBO - SAP Business One)?

SAP Term: external statement

• Component: SBO

• Component Name: SAP Business One

• Description: A bank statement that is imported as part of an external reconciliation process.

Smart SAP Assistant

• Key Concepts: 
  External statement is a feature in SAP Business One (SBO) that allows users to create and manage financial statements for external entities. It enables users to create and manage financial statements for external entities, such as customers, vendors, and banks. The external statement feature allows users to view the current balance of an external entity, as well as the transactions that have taken place between the entity and the company. 
  
  How to use it: 
  To use the external statement feature in SBO, users must first create an external entity in the system. This can be done by navigating to the “External Entities” tab in the “Accounts” module. Once an entity is created, users can then create an external statement for that entity. This can be done by navigating to the “External Statements” tab in the “Accounts” module. From there, users can select the entity they wish to create a statement for and enter the desired information. 
  
  Tips & Tricks: 
  When creating an external statement, it is important to ensure that all of the information entered is accurate and up-to-date. This will ensure that the statement reflects the current balance of the entity accurately. Additionally, it is important to keep track of any changes made to an external statement, as this will help ensure that all transactions are accounted for correctly. 
  
  Related Information: 
  The external statement feature in SBO is closely related to other features such as Accounts Receivable (AR) and Accounts Payable (AP). These features allow users to manage customer and vendor accounts respectively, which are necessary for creating accurate external statements. Additionally, SBO also offers a variety of reporting tools which can be used to generate reports based on external statements.