Abstract

Banking Institutions offer a wide range of benefits to commercial organizations due to various reasons such as large amount of working capital that the organizations deposit in their accounts, issuing Overdrafts or loans and earning interest, working as their investment banker and charging fee for the services provide etc. Organizations on the other hand also would like to maintain their bank accounts in various financial institutions locally and internationally for facilitating various transactions such as receiving funds form customers, paying supplier invoices etc whereas accurate bank reconciliation and knowing the cash position for each account and as a whole can be very challenging due to volume of transactions that each of these bank accounts manage in any given business day. Hence SAP has introduced new GL Account Type “C” which is “Cash Account” in S4HANA Version 2020 to streamline and enhance cash management and bank reconciliation. This article provides insights into how SAP’s broader vision of intelligent finance operations, modernizing cash processes and real-time financial reporting can be achieved by implementing GL Account Type “C-Cash Account”