SAP Financial Accounting (SAP FI) Practice Exam

Which account reflects how much cash is in your account in SAP?

1. Bank statement clearing account

2. Bank position account

3. Cash discount account

4. Open item account

The correct answer is: Bank position account

The bank position account is the correct choice as it is specifically designed to reflect the amount of cash available in your bank account within SAP. This account provides a real-time overview of the liquidity position of the organization, showing all transactions related to cash inflows and outflows. It tracks the balances across different bank accounts, allowing for effective cash management and planning. In SAP, this account serves as a critical component for evaluating the company's financial health, as it aggregates cash balances and helps in making informed decisions related to investments and operational funding. Accounts that do not serve this purpose include the bank statement clearing account, which is used for reconciling bank statements with internal records; the cash discount account, which deals with discounts received on payments and is not directly related to cash on hand; and the open item account, which is typically used for tracking items that are still pending clearing or that require further action. Each of these accounts has its unique functionality and is essential for different aspects of financial management, but they do not provide a direct reflection of the current cash balance available.