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Chapter 2
Information Systems
What is the meaning of house of banks here ??
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The "House of Banks" refers to the bank accounts that a company has, and how they are organized within the company. In SAP ERP, the House Bank is a feature that helps companies manage their bank accounts for financial transactions such as payments, receiving payments, and managing cash transactions. A company can have multiple House Banks, each representing a different set of bank accounts. The House Bank is used to define the bank accounts that will be used for payment transactions, reconciling bank statements, managing cash positions, and performing other bank-related activities.
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