Bank Account Reconciliation

[Former Member]

FI Experts,

client do not have a clearing accoutn set-up for outgoign checks, therefore I am reconciling account manually first, before I introduce them to teh clearing accoutn. I updated the encashment field for all outstanding checks, now I need to enter the manual entries from teh bank statement.

Is this something that needs to be done thru J/E or is there a special T-code where I can enter begining balnce, wire transfers, etc. We do not have EBS yet any suggetsions in how I can do this reconcilaition in a more effective manner?

Regards,

Frank

[Former Member]

Frank,

Eventhough you do not use EBS, there is a similar tool in Bank Accounting functionality call MBS (Manual Bank Statement), the configuration is very similar, but you don't have to deal with ABAP programming part of matching Bank codes and flat file uploading. You can create, set it up and combine business transactions, posting keys, posting rules and account symbols(*) for any given GL account for clearing and main bank accounts.

(*)The account symbols would help you to detail even more the level of the transaction (Ongoing Check, Incomming Wire, etc.)

After you have finished the settings you would be able to run transaction FF67 - Manual Entry, where you tell SAP initial balance of each bank account, enter you outgoing and incomming values and execute it. After it runs it automatically would post to the accounts (Main and Clearing) based on your settings and will automatically update the ending balance for the next month when run your manual bank statement again.

I hope this help you to solve your problem.

GG

[Former Member]

Thank You very helpful information, but about if I don't have a clearing account, everything is posting directly to the bank account.

If I configure MBS it will ask me for clearing account, and then when I use FF67 it will create entries, like debit claring accoutn and credit bank account.

Can you make it clear for me, as to what will be the best way to get current account reconcile manually, until I get it to a point to start using a clearing account.

Thank You,

Frank