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With the banking and reconciliation functionality in SAP Business One, you can automate and accelerate incoming and outgoing payments. The payment wizard allows you to clear multiple accounts receivable and accounts payable invoices in batch mode for checks and bank transfers. The payments are executed according to your selection criteria and payment methods (such as check, bank transfer, credit card, or cash), and then the journal entry transactions are automatically posted once the process is completed. With the bank statement processing feature of SAP Business One, you can also readily process external bank statements to generate incoming and outgoing payments and to reconcile your balance sheet accounts.
SAP Business One enables you to match payments that are not automatically reconciled, such as payments made “on account,” to open items either automatically or manually through its reconciliation engine. You can filter this engine by general ledger account or by business partner.
"Banking and Reconciliation" is part of the SAP Business One line of products, developed by SAP.
SAP Business One is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.