Created by : Ashok Prabhu K
Source : Sap-topJobs
Configuring the Electronic Bank Statement and Manual Bank Statement
INDEX
Configuring the Electronic Bank Statement and Manual Bank Statement 1
1) Create Account Symbol 3
2) Assign accounts to account Symbols 4
3) Create keys for posting rules 5
4) Define Posting rules 6
5) Create Transaction Type 10
Configuring the Electronic Bank Statement and Manual Bank Statement
Electronic bank statement u2013 It is an electronic document sent by the bank which gives details of the transactions done by the account holder in electronic form. The electronic document can be remitted by the bank in the following formats SWIFT, Multicash BAI etc., (http://www.bai.org/operations/reportingcodes.asp)This statement is used in SAP to do an automatic reconciliation. The statement is uploaded in SAP and it clears the various Bank clearing accounts such as the Chk out, Chk in account to the main bank account.
In our scenario we have following bank GL codes (Sub accounts) for our Bank:-
111410 ICICI Bank u2013 Main Account
111411 ICICI u2013 Check Issued Out
111412 ICICI u2013 Outgoing w/tfr
111415 ICICI u2013 Other interim posting
111419 ICICI u2013 Check Received
Checks issued out to vendors will be credited to G/L code 111411 - ICICI Check Issued out Which is a clearing account.
Similarly Checks received from customers are debited to GL Code 111419 u2013 ICICI Check received which is a clearing account.
When the bank statement is uploaded in SAP the following will happen:-
For Checks issued out u2013 based on checks cleared in the bank account the following entry will be passed automatically.
GL Code Account Description Debit/Credit
111411 ICICI u2013 Check Issued Out Debit
111410 ICICI Bank u2013 Main Account Credit
For checks received in u2013 based on checks cleared in the bank account the following entry will be passed automatically.
GL Code Account Description Debit/Credit
111419 ICICI u2013 Check Received Credit
111410 ICICI Bank u2013 Main Account Debit
Thus after uploading the bank statement in the system, the main bank account i.e. GL code 111410 - ICICI Bank u2013 Main Account will exactly match with the balance shown in the bank. All the clearing accounts having open line items will be the reconciliation items.
Manual bank statement u2013 In case the bank is not able to give an electronic statement then the statement can be manually entered in the manual bank statement and uploaded.
The configuration for both the statement is the same except in electronic statement further 2 configurations are required:-
IMG > Financial accounting > Bank Accounting > Business transactions > Payment Transactions > Electronic Bank Statement
In this activity you make the global settings for the account statement. There are four main steps to be carried out:
Enter the chart of accounts YCCA
1) Create Account Symbol
In this activity you create the account symbols that you later need for defining the posting specifications.
Before posting rule is used, the account symbols are replaced with the relevant accounts to which posting is to be made.
Example
Create the account symbols BANK and CASH RECEIPT so that you can later define a posting rule for cash receipt.
Activities
1. Define an ID for each account symbol.
2. Enter a description in the text field
Specify G/L accounts (such as bank, cash receipt, outgoing checks) to which postings are to be made from account statement.
You assign account symbols to the G/L account numbers. These are required for the posting rules in step 2.
Click on and type in the following:-
Click on to save entries.
2) Assign accounts to account Symbols
In this activity you define the account determination procedure for each individual account symbol.
Define postings to be triggered by possible transactions in the account statement (such as bank transfer, debit memo).
In the posting specifications debit -> credit that you define here, use the account symbols from step 1, not the G/L account numbers. This prevents similar posting rules being defined several times, the only difference between them being the accounts to which postings are made.
Double click on
Click on and update the following: -
To avoid having to define a separate account symbol for every single house bank account (with a different G/L account in each case), the G/L account field can contain a masked output. The masking is done using +++++++ for the main bank account. For the sub accounts all the other digits are masked except the last one. For bank charges the actual GL account is entered.
Note that masked entries (using +) are always based on a ten character account number. IF you are using a shorter account number (six characters for example), the entry must be right-aligned.
Click on to save entries.
3) Create keys for posting rules
Assign posting rules to possible transactions in account statement file.
A list of assignments where one external transaction code is assigned to one posting rule is called a transaction type.
Double click and click on and update the following information:-
Click on to save.
4) Define Posting rules
Here you assign the key created for posting rules to the various account symbols and specify whether it will be a debit or credit and to which posting area, whether bank or a sub ledger posting.
Click on
Update the following:-
Posting type 4 (Clear Debit G/L Account)
Click on Save
Click on
Select posting type 5 (Clear credit G/L account)
Click on
Click on save
Click on
Select posting type 1 (Post to G/L account)
Click on Save
Click on
5) Create Transaction Type
Assign bank details for which the account statements are to be imported, to a transaction type.
All the house bank accounts at a particular bank are usually assigned to the same transaction type.
Click on
Update the following:
Click on Save
Select
Double click on
Click on
Click on Save
Assign Bank accounts to transaction types
Double Click on
Click on new entries
Save
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