Electronic Bank Statement vs. Manual Bank Statement
BRS is Bank Reconciliation statement which contains all open entries not matching between Bank and the company.
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 the account to the main bank account.
For e.g we have the following bank GL codes for our bank:-
- 111410 ICICI bank- Main account a/c
- 111411 ICICI check issued out
- 111412 ICICI outgoing w/tfr
- 111415 ICICI other interim postings
- 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.
Similarly, checks received from customers is 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 check issued out- based on checks cleared in the bank account the following entry will be passed automatically.
111411 ICICI check issued out Debit
111410 ICICI bank- Main account a/c Credit
For check received in- based on checks cleared in the bank account, the following entry will be passed automatically.
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 the balances 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. Manual Bank statement can be entered in SAP using FF68, here you need to enter the line items of the various transactions manually into the system. Once after entering you will do the post processing.
The configuration steps for both electronic and manual bank statement is same except in electronic bank statement further 2 configuration steps are required:-
IMG --> Financial A/cing --> Bank accounting --> Business Transaction --> Payment Transaction --> 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 chart of accounts YCCA
1. Create your account symbols
Create the account symbols that you need later for defining the posting specifications.
For e.g create the account symbols BANK and CASH RECEIPT so that you can later define a posting rule for cash receipt.
Click on New Entries and type the following:-
2. Assigning Accounts to Account Symbols
Here you need to define the account determination procedure for each individual account symbol.
You must have designed your accounts in such a way that the end digits will work for posting the entries to FI.
Account Modifier you use as + and use your local currency, if you do not have any foreign currency postings.
Double click on Assign Accounts to Ac
Click on New Entries and update the following:-
3. Create keys for Posting Rules
Assign posting rules to possible transactions in account statement file.
Double click Create Keys for Post and click on New Entries and update the following information:-
4. Define Posting Rules
Here you will 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 New Entries
update the following:-
Select Posting type 1(Post to G/L account)
Click on Save
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 to a particular bank are usually assigned to the same transaction type.
Click on the New Entries
Update the following