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Configure the Electronic Bank and Manual Bank Statement

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Configure the Electronic Bank and Manual Bank Statement
Stechies

Electronic bank statement – It is an electronic document sent by the bank which gives details of the transactions done by the account holder. The electronic document can be remitted by the bank in the following formats SWIFT, Multicash, BAI etc. This statement is used in SAP to do an automatic reconciliation. The statement is uploaded in SAP and it clears the various Bank clearing accounts such as the Chk out, Chk in account to the main bank account.

In our scenario we have the following bank GL codes (Sub accounts) for our Bank:-

111410 ICICI bank – Main account a/c
111411 ICICI check issued out
111412 ICICI outgoing w/tfr
111415 ICICI other interim posting
111419 ICICI check received

Checks issued out to vendors will be credited to GL code 111411 ICICI check issued out which is a clearing account.
Similary checks received from customer are debited to GL code 111419 ICICI check received which is a clearing account.

When the bank statement is uploaded in SAP the following will happen:-

For checks issued out – based on checks cleared in the bank account the following entry will be passed automatically.

GL code              account description                        Debit /Credit
111411                 ICICI check issued out                    Debit
111410 ICICI         bank – Main account a/c                Credit


For checks received in – based on checks cleared in the bank account the following entry will be passed automatically.

GL code                account description                          Debit /Credit
111419                  ICICI check received                         Credit
111410                  ICICI bank – Main account a/c           Debit

Thus after uploading the bank statement in the system, the Main bank account i.e. GL code 111410 ICICI bank – Main account a/c will exactly match with the balance shown in the bank. All the clearing accounts having alances will be the reconciliation items.

Manual bank statement – In case the bank is not able to give an electronic statement then the statement can be manually entered in the manual bank statement and uploaded.

The configuration for both the statement is the same except in electronic statement further 2 configurations are required-

IMG 􀃆 Financial Accounting 􀃆 Bank Accounting 􀃆 Business Transactions 􀃆 Payment Transactions 􀃆 Electronic Bank Statement

In this activity you make the global settings for the account statement. There are four main steps to be carried out:

Enter the chart of accounts YCCA

1. Create account symbol

In this activity you create the account symbols that you later need for defining the posting specifications.
Before the posting rule is used, the account symbols are replaced with the relevant accounts to which posting is to be made.

Example
Create the account symbols BANK and CASH RECEIPT so that you can later define a posting rule for cash receipt.

Activities
1. Define an ID for each account symbol.
2. Enter a description in the text field.

Specify G/L accounts (such as bank, cash receipt, outgoing checks) to which postings are to be made from account statement. You assign account symbols to the G/L account numbers. These are required for the posting rules in step 2.
Click on  and type in the following:-




Click on to  save entries.

2. Assign accounts to account symbols

In this activity you define the account determination procedure for each individual account symbol.

Define postings to be triggered by possible transactions in the account statement (such as bank transfer, debit memo). In the posting specifications debit -> credit that you define here, use the account symbols from step 1, not the G/L account numbers. This prevents similar posting rules being defined several times , the only difference between them being the accounts to which postings are made.

Double click on 

Click on  and update the following:-
 




To avoid having to define a separate account symbol for every single house bank account (with a different G/L account in each case), the G/L account field can contain a masked output. The masking is done using ++++++ for the main bank account. For the sub accounts all the other digits are masked except the last one.
For Bank charges the actual gl account is entered.
Note that masked entries (using + ) are always based on a ten character account number. If you are using a shorter account number (six characters, for example), the entry must be right-aligned.

Click on  to save entries.

3. Create keys for posting rules
Assign posting rules to possible transactions in account statement file. A list of assignments where one external transaction code is assigned to one posting rule is called a transaction type.

Double click  and click on  and update the following information:-




Click on 


4. Define posting rules

Here you will now assign the key created for posting rules to the various account symbols and specify whether it will be a debit or credit and to which posting area, whether bank or a sub ledger posting.

Click on 

update the following: -

 



Posting Type 4 (Clear Debit G/L account)

Click on  Save

Click on   




Select Posting type 5 (Clear credit G/L acct)

Click on
   



Click on Save   

Click on
   



Select Posting type 1 (Post to G/L account)

Click on Save 
 

Click on   




5 Create Transaction type

Assign bank details, for which the account statements are to be imported , to a transaction type.
All the house bank accounts at a particular bank are usually assigned to the same transaction type.


Click on   

update the following: -



Click on Save   

Select 


Double Click 

Click on   

Click on Sav
 

Assign Bank Accounts to Transaction types

Double Click 

Click on   




Click on Save 


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