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I have the following script that creates a folder named as yesterday's date under the list "Documents". However, I need to create this folder under another subfolder called "FinancialReports" instead. Please could someone help me out?

$FolderName = ((get-date).adddays(-1)).tostring('yyyy-MM-dd') 
$User = "me@mydomain.com"  
$Password = "Password321"
$SiteURL = "https://mydomain.sharepoint.com/sites/Accounts/"
$LibraryName = "Documents"

#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\15\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\15\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"


$Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($User, (ConvertTo-SecureString $Password -AsPlainText -Force))  
#Setup the context
$Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($SiteURL)
$Ctx.Credentials = $Credentials

#Get the Library by Name
$List = $Ctx.Web.Lists.GetByTitle($LibraryName)

#sharepoint online create folder powershell
    $NewFolder = $List.RootFolder.Folders.Add($FolderName)
    $Ctx.ExecuteQuery()

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So i ended up using PNP which made things a lot easier.

Added PNP with one command

"Install-Module SharePointPnPPowerShellOnline"

Here's the guide: https://docs.microsoft.com/en-us/powershell/sharepoint/sharepoint-pnp/sharepoint-pnp-cmdlets?view=sharepoint-ps

my finished code is now:

$FolderName = ((get-date).adddays(-1)).tostring('yyyy_MM_dd') 
$User = "me@mydomain.com"  
$Password = "Password321"
$SiteURL = "https://mydomain.sharepoint.com/sites/Accounts/"

$spfolder = "shared documents/FinancialReporting/$FolderName"

$sp = $password | ConvertTo-SecureString -AsPlainText -Force
$Cred = New-Object system.management.automation.pscredential -ArgumentList $user, $sp

Connect-PnPOnline -Url $SiteUrl -Credentials $Cred  
# the default "Documents" list = "shared documents" for some reason...
Add-PnPFolder -name $FolderName -folder "shared documents/FinancialReporting" 

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