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Define posting key ad Posting Rules for Bank Transactions

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Define posting key ad Posting Rules for Bank Transactions
Stechies

Financial Accounting
 Bank Accounting
  Business Transaction
   Payment Transaction
    Manual Bank Statement
Define posting key ad Posting Rules for Bank  

Define posting key

Enter

Define posting key

Select New Entries

Save and go to the next option Assign Account to Account Symbol

Define posting key

Select New Entries

Define posting key

Acct Symbol: The symbolic name as created above

GL Account The GL Account Number to which the transaction will get posted using the Account symbol. In case any business have more then one House

Banks and multiple bank reconciliation accounts then either each house bank and reco account has to be assigned to the symbolic name individually or standard pattern of creating the GL Accounts for various bank Accounts and reco accounts can be selected. Under the second option the house bank has to be given a GL Account no ending with 0 and the incoming and outgoing payment account of that bank account has to be ended with 1 and 2 respectively.

Define posting key

Complete the data and save

Go to the option create Keys for posting rules

Define posting key

Select New Entries

Define posting key

Posting key= A symbolic name of a posting rule to be defined in the next step.
Text Short text of the posting Keys

Save and go the option Define Posting Rules

Define-posting key

Select New Rules

Define posting key

Special G/L Indicator

Indicator which identifies a special G/L transaction.

Posting Rule: As defined under the option create posting keys. Here we are defining the rule for this particular posting key

Posting Key Under Debit: The posting key that will be used for debiting the transaction

Account Symbol: The Account Symbol as created under the option Create Account Symbol and as assigned to a particular GL Account under this symbol

Document Type: The document type as applicable to the transaction


Posting Type: Under this we specify the rule how the respective account should get affected.
Following is the meaning of the posting types as defined by SAP and used by the
business

1. Post to GL Account: Post a transaction simply to the GL Account (i.e. main account and the respective expenses account) without giving effect to any other sub ledger account or clearing any account


2. Post Sub Ledger A/C Debit: This option is used for defining the posting keys for cheque payment. The meaning of this option is that give the effect of the entry in the debit of the sub ledger

3.. Post Sub Ledger A/C Credit: This option is used for defining the posting keys for cheque receipts.


4. Clear Debit GL Account: Means post the transaction to the debit of the account as speicified in the debit column and clear the transaction from that account

5.Clear credit GL Account: Means post the transaction to the credit of the account
as speicified in the credit column and clear the transaction from that account


7. Clear Debit Sub Ledger A/c: By using this option it is indicated that the sub
Ledger account will get debited and the balalnce corresponding to the
entry will get cleared.


8. Clear Credit sub ledger A/C: By using this option it is indicated that the sub
ledger account will get credited ad the balance corresponding to the entry
will also get cleared


Enter the data and define the next rule for a posting key by selecting the option next from
the task bar

Keep Going to the next screen till all the posting rules are defined for all the posting keys.

Save and exit


Following are the basic reasons for Bank Reco:

 Cheque issued but not presented for payment
 
 Cheque deposited but not presented for payment

 Debited by bank but not credited by the business
 (such as bank charges, interest paid,)
 Credited by the bank but not by the business
 (Interest Received)
 


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