Search results
Results from the WOW.Com Content Network
Suspicious activity report. In financial regulation, a Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a report made by a financial institution about suspicious or potentially suspicious activity as required under laws designed to counter money laundering, financing of terrorism and other financial crimes.
The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. [ 1 ] Specifically, the act requires financial institutions to keep records of cash purchases ...
Balance sheet substantiation is the accounting process conducted by businesses on a regular basis to confirm that the balances held in the primary accounting system of record (e.g. SAP, Oracle, other ERP system's General Ledger) are reconciled (in balance with) with the balance and transaction records held in the same or supporting sub-systems.
Currency Transaction Report, March 2011 revision. A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency (e.g. bank notes or coins) valued at more than $10,000.
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. [1] A financial transaction always involves one or more financial asset, most commonly money or ...
SAP SE(/ˌɛs.eɪˈpiː/; German pronunciation:[ɛsʔaːˈpeː]ⓘ) is a German multinationalsoftware company based in Walldorf, Baden-Württemberg, Germany. It develops enterprise softwareto manage business operation and customer relations. [3][4]The company is the world's largest enterprise resource planning(ERP) software vendor.
Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value to that account, and a credit entry represents a transfer from the account. [ 1 ][ 2 ] Each transaction transfers value from credited ...
Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the ...