Bank Accounting

[Former Member]

What are the meaning and usage of the following terms used in Bank master data and House bank master data:-

Bank key, swift code, bank number, house bank id, account id, bank account

Thanks in Advance

Prashant

[Former Member · Accepted solution]

Hi Prashant,

Please find the information required by you:-

Bank Key:- The identification key used to identify a particular bank in the SAP system. Usually the bank number is used as the bank key, in which case the bank number is also maintained as bank key

SWIFT Code : Society for Worldwide Inter-bank Financial Telecommunication. The SWIFT code (standard through out the world) enables banks to uniquely identified in international payment transactions

Bank Number : It is the unique identification code of the Bank. This code is used. This code is provided by the bank , and issed to identify the particular branch in inter-bank transactions.

House Bank ID : The keys used for identifying a house bank. It is freely definable by us.

Account ID : This key identifies the different accounts in a particular house bank. This key along with the house bank key uniquely defines a bank account.

Bank Account : The number under which the account is managed at the bank. This is the account number provided by the bank.

Hope this is useful for you

Thanks

Atul Aggarwal

[Former Member]

Hi Prashant,

There is lots of setting that need to be configured in payment program and also SAP provides lots of flexibility in the payment process.

For automatic payment program run, these are pre-requirements:

-Configuration of House Banks from which payment will be made

-Configuration of Bank accounts with associated general ledger accounts in the above house bank;

-Appropriate payment methods assigned to your company code;

-Configuration for payment program.

-Customer and vendor master records with the appropriate details completed.

-If you wish to create a cheque payment, the vendor/customer master record must contain full address details (This is not system requirement but in some company it is compulsory to have address.

-If you wish to create an electronic payment, the vendor/customer master record must contain complete bank details.

Hope this will help you

Thanks

Atul Aggarwal

[Former Member]

Hi

Can you also tell me the steps to be taken while configuring the Automatic payment program?

Thanks in Advance

Prashant

[Former Member]

Hi,

House bank is the bank through which your company is dealing all their financial transaction.

Bank key is a country unique number in the US it is called the ABA routing number.

The account ID is a user definable field that allows you to "name" your bank accounts at your bank using any convention you prefer.

Bank master data means all the data related to a particular BANK .examole HDFC all the information related this particular bank.

House bank master data it is related all your bank master data.Example,Hdfc,ICICI,Axis ,BOB etc.

The S.W.I.F.T. code is used for identifying banks in international payment transactions.Uniquely identifies a bank throughout the world.

Bank number is a code given to a particular Bank.

regards,

Santosh kumar