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Early period close - Bank statements

Mar 06, 2017 at 05:40 AM

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Former Member

We have requirement from business to close posting period early ie 25th March instead of normally 31st of March. The transactions from 26- 31 march should posted in April. My question is with the bank statements. We receive bank statements daily, if we stop bank statement upload between 26-31 March and post them with posting date of 1st April what are the implications?. Would appreciate if experts can share their experience/solutions to the requirement.

Thank you

Umang

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2 Answers

Shinas Hamsa Mar 06, 2017 at 07:01 AM
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Hi

You are closing Books on 25th and You are getting daily Bank Statement, That mean you can do BRS on 25th upto 25th.

And closing also 25th. Its mean no issues..

from 26 to 31 you are planning to do on April , i mean 26, 27,28,29,30,31 and 1st April Bank statement will be uploading on 1st of April ??

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Former Member Mar 06, 2017 at 04:55 PM
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Hi Umang,

Check Tag :62F:, it will get interpreted as Posting Date in SAP when the bank statement is upload. For the statement that are received in your case after 25th, needs a manual change in Tag :62F: if you want all the transactions to be booked on or after April 1st.

Plus from SAP system standpoint it might not be an issue to determine 25th as month end date, however certain bank line items are received during month end or in month end statements (for ex. Bank charges, Interest Income) how will that get accounted in March?

The transactions occurred in March ideally should have been booked in March rather than in April. So better to club the March last week transaction and booked them on 25th March, it will reflect an ideal Cash position for March month.

Jaymin B.

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