What is bank group in SAP SRD-FIN-CLM - FIN-Cash and Liquidity Management?

SAP Term: bank group

• Component: SRD-FIN-CLM

• Component Name: FIN-Cash and Liquidity Management

• Description: A number of affiliated banks that use shared resources to increase efficiency and save money. The banks may have common ownership.

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• Key Concepts: 
  A bank group is a collection of banks that are grouped together in SAP for the purpose of managing cash and liquidity. It allows users to manage multiple banks in one place, making it easier to track and manage cash flows. Bank groups can be used to define payment methods, assign bank accounts, and manage liquidity. 
  
  How to use it: 
  In order to use a bank group, users must first create a bank group in the SAP system. This can be done by navigating to the “Bank Groups” tab in the SRD-FIN-CLM FIN-Cash and Liquidity Management component. Once the bank group is created, users can assign banks to the group and define payment methods for each bank. 
  
  Tips & Tricks: 
  When creating a bank group, it is important to ensure that all of the banks assigned to the group have compatible payment methods. This will ensure that payments can be made from any of the banks in the group without any issues. Additionally, it is important to keep track of all of the banks assigned to a bank group as this will make it easier to manage cash flows and liquidity. 
  
  Related Information: 
  For more information on how to use bank groups in SAP, please refer to the official SAP documentation on Cash and Liquidity Management (SRD-FIN-CLM). Additionally, there are many online tutorials available that provide step-by-step instructions on how to create and manage bank groups in SAP.