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EBS Posting Key and Posting Type

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

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3 Answers

  • Posted on Feb 12, 2014 at 10:01 AM

    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

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  • Posted on Feb 12, 2014 at 10:38 AM

    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


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  • author's profile photo Former Member
    Former Member
    Posted on Feb 13, 2014 at 09:22 AM

    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

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