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Changing to another Bank

Hello Experts,

I am new to Bank Accounting. And business is planning to change the Bank it carries out it's business. Currently they have bank account with ABC bank and in SAP we have two house banks and three bank accounts in them.

Now, we are planning to switch over to bank XYZ and probably we would be having three bank accounts with three house banks in system.

And after moving to bank XYZ, we would be using Positive Pay, Check Encashment, ACH, Wire transfers, etc.

Could you please let me know, before starting with this project - what are the things that needs to be considered. What are the important aspects I should consider.

Thank you.

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  • Best Answer
    Posted on Aug 24, 2018 at 04:22 AM

    Hi

    You have not filled in clearly on your requirements and what is your doubt/question where you are struck up. It would have helped if you could have searched a bit to be more specific in your question. Your query is far too open ended !!

    If your bank is changing, below are the configuration changes that are required:

    1. Assign new GL accounts for the new bank accounts. You will need 1 main account along with the associated clearing accounts for each new bank account you will be opening at the new bank.

    2. Create new house bank via FI12 along with the bank accounts opened at the new bank. Here you would assign the bank main GL account in the settings.

    3. Maintain house bank configuration for the payment program via FBZP. Follow the configuration from the previous account. However you will need to determine from the bank if your new bank is able to receive the payment file in the same format as your old bank. They will be able to provide file specs that you can compare to your old payment files. Make changes if applicable.

    4. Maintain cheque lots for the new house bank if applicable.

    5. Maintain the Electronic or Manual bank statement configuration for the new bank accounts. If you are using EBS you will most likely need to configure new external transaction codes to map to the posting rules. Also confirm that the EBS file is able to be downloaded in the same format as your old bank's statement as if it isn't then you may need to change the way it is imported.

    For the payment formats you mentioned below link should help you on how to set up the same.

    https://blogs.sap.com/2015/06/26/dmee-configurationstep-by-step-part-1/

    https://blogs.sap.com/2015/06/29/dmee-configurationstep-by-step-part-2/

    https://blogs.sap.com/2015/03/06/nacha-file-creation-using-payment-medium-workbench-for-ach-payments-usa/

    https://blogs.sap.com/2013/11/19/positive-pay-an-overview/

    Thanks & Regards

    Sanil Bhandari

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    • Hi Sanil,

      Actually I am completely new to Bank Accounting, do not have an idea as to from where to start.

      I was exactly looking for same points before starting with this project. We are at an initial stage, as of now we have just decided the number of house banks and bank accounts.

      It is people like you, who are always ready to guide and share knowledge among others, makes this forum an excellent one.

      Will take these inputs as a base before going further with the development.

      Thank you :)

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