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Former Member

How do you decide upon the best approach to clear your check register in SAP for your company?

I've got 6 items that I think need to be considered. Any others?

  • Volume and Timing
  • Cost of checks
  • Monitoring
  • Knowledge and Know-how
  • Staffing availability
  • Cost of compliance

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2 Answers

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    Former Member
    Jan 07, 2015 at 08:56 PM

    ... clear your check register in SAP for your company ...

    ... clear your check... register in SAP ... for your company ....

    ... clear your check register ... in SAP for your company ....

    ... CLEAR your_check. DEFINE register. ... dnjaaa...

    I give up. What does it mean? Or is it poetry?

    Cheers,

    Julius

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    Former Member
    Jan 08, 2015 at 05:15 PM

    I'm referring to keeping the company's check (money) register up to date... This is what I was thinking:

    Volume and Timing: How many checks are being issued from the account each month? Is receiving an encashment file once per month sufficient? At what point would potential error correction be too large? Does the volume become too large by having a file only once a month to manage errors? Perhaps it's easier to receive activity each day for reconciliation purposes.

    Cost: Do you have to pay additional to have the individual checks included on your bank statement file? Could you use the bank statement and eliminate the need to have a separate interface for only cashed checks?

    Monitoring: Who will perform the ongoing monitoring to ensure checks are being updated in the register? Will this be done as part of your bank reconciliation process, by your team supporting paymets, or someone else? Will this person participate in regression testing for the solution once it is live?

    Knowledge and Know-how: Does the technical team understand how to set up the different solutions? Do they understand the potential failure points? What will be the processes for ongoing monitoring?

    Staffing availability: Does the internal project team have the capacity to set up these interfaces? Often project teams have competing priorities with everything demanding top position in the project scope. If there is a constraint on internal staffing from either the business function or IT, perhaps it is best to update checks manually while other priorities are completed.

    Cost of compliance: In cases where the processes are completely manual, what I it costing you to comply with the various state escheatment laws? Would an automated interface make the compliance efforts easier and less expensive?

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