EBS Posting Key and Posting Type

[Former Member]

Hello guys,

                 I was working with Electronic Bank Statement and I was confused when I should give posting keys for both Debit and Credit accounts.

My scenario is something like this,

I am using 3 G/L accounts

1. MAINBNK: Main bank Account

2. AMTRECD: Amount Received Account

3. CHKPAID: Amount Paid Account

During the EBS configuration steps, after creating account symbols, assigning them to G/L accounts and creating posting keys, I have to define posting rules. And this is what I came up with based on what I read online.

My question is, why can't I assign both the posting keys (40-Debit for main bank account and 50-Credit for Amount Received account) and use the posting type as 1 which is 'Post to G/L account'?

I understand the fact that this transaction looks something like,

Amount Received Account: Credited

Main Bank Account: Debited

But why doesn't the system allow me to select posting keys for both the fields when the posting type is 5 (Clear Credit G/L acc.)?

Please let me know.

Regards,

MichaelJ

[Former Member]

Hi Kalim,

I believe you can even assign both the posting keys (40-Debit for main bank account and 50-Credit for Amount Received account) and use the posting type as 1 which is 'Post to G/L account'. But in this case system would not automatically clear the open items.

System would just do the posting and even we can have intermediary account which needs to be cleared manually if we use the above config.

so like for outgoing payments postings would be like

From EBS:

Credit: Main bank GL account

Debit: outgoing payment account (clearing account)

From Payment (F110)

Debit: vendor account

Credit: Outgoing payment account

Then this outgoing payment account can be manually cleared. But if we use posting type as 4 system would try to clear this account automtically.

Hope this helps.

Thanks,

Gaurav

[Former Member]

Hi Gaurav,

Thanks dear, I know that, but I did't explain because he is already aware and said the same thing in his query.

Regards,

Kalim

[Former Member]

Hi Michael,

My question is, why can't I assign both the posting keys (40-Debit for main bank account and 50-Credit for Amount Received account) and use the posting type as 1 which is 'Post to G/L account'?

If you are using intermediate bank clearing account for incoming or outgoing payment then you have to use posting type 5 for payment received and posting type 4 for out going payment for posting rule config, otherwise system will not be able to find the open item of intermediate bank clearing GL to clear during import bank statement through FF_5 or FF67.

Posting type 1 is used for direct posting to particular GL account during EBS upload and it is usually used for bank charges (Direct posting).,no intermediate accounts is involed here.

Bank charges  Dr

To  main bank account

Please let me know if you have any further clarification.

Regards,

Kalim

[jayj07]

Hi Michael,

You may want to use type 1 to be able to assign posting key for the credit part. I believe type 5 has already a pre-defined key so if you want to specify another key, use another type.

Hope this helps.

Best Regards,

Jayj