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Create and Assign Business Transactions

Dear Experts !

While configuring manual bank statement, why do we need to configure the step "Create and Assign Business Transactions". what is the relevance of this setting. why do we assign the same transaction to same posting rule twice with two different signs (+ & -). Cant we post the transactions only on the basis of the posting rules defined. why do we need to create it, why do we need to assign it to posting rules and why do we need to maintain the same while entering the line items in FF67. What is the importance of this additional effort.

Thanks and Regards,

Ganesh

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3 Answers

  • Best Answer
    Posted on Nov 22, 2012 at 07:42 PM

    Hi,

    Your Posting rule is for generating BRS entries. IN the above case you mentioned only one entry will be generated at the time of BRS

    Main Bank A/c.... Debit

    Inward Clearing A/c... Credit

    But this above entry will only be posted if your Entered Amount and Bank Amount are same while entering Transaction Type in FF67. Then your +/- Indicator will come in the picture

    For example,

    Say you are entering 1st statement, then your Opening Balance is 0 and say as per Bank Statement Closing Balance is 100

    Then your Bank Amount becomes 100 now the transaction type which you will be entering i.e. Entered Amount has to match with Bank Amount

    Say as per your Bank statement you have to clear say one Incoming Payment of 150 & One Outgoing Payment of 50

    Then in FF67, your entries will be:

    Transaction Type Value Date Amount

    Z100 22.11.2012 150

    Z200 22.11.2012 50-

    Then only Bank Amount and Entered amount will be same. Then system will allow to save the Statement. Therefore +/- Indicators are used for matching your Entered Amount & Bank Amount in FF67.

    Thereafter when you do the posting, then only your Posting Rule Z100 which you are assigning against a Transaction type will come into effect. Then system will post entry as per your Posting Rule

    Regards

    Diptadhi

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  • Posted on Nov 22, 2012 at 06:45 PM

    Hi,

    Even though you have maintain Debit & Credit rules for in Posting Rules but the thing is that you cannot post your manual BRS in FF67 against posting rules. You have to give Transaction Type where you have to assign your Posting Rules based on which your Accounting entry will be posted, but based on + and - indicator you are signifying whether it is an incoming payment or an outgoing payment. Based on Transaction type and + and - indicator system will call the posting rule. Then only your BRS entry will be posted.

    +/- indicators are used for matching with your Entered amount as per Bank statement and the Bank Amount . These amounts has to be matched first. Then only your posting rules are coming in the scenario.

    Regards

    Diptadhi

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    • Former Member

      Dear Diptadhi !

      How does the system understands when the posting rule is defined for both + and - signs as follows:

      Posting rule : Z100 Posting Area :1

      Posting Key 40 Account Symbol - bank main account

      Posing Key 50 account Symbol - Clearing account for receipts

      Posting type : 1

      Can the system generate two different entries for the single posting rule on the basis of two different signs (+ and -).

      Your detailed explanation on use of signs and transaction type is appreciated.

      Thanks and Regards,

      Ganesh

  • Posted on Nov 22, 2012 at 06:13 PM

    Hi,

    This is required because here you have to define Transaction type against which you are assigning your Posting Rule Indicator & Interpretation Algorithm & also +/- Indicator

    When you upload the bank statement in FF67, Transaction type is required. Without transaction types you cannot insert the data in FF67.

    + means Debit to main bank account (Incoming Payment)

    - means credit to main Bank Account (Outgoing payment)

    When you enter the transactions, system will check the transaction value by considering +/- values should match with statement.

    Through Interpretation algorithm system will clear the entries in Inward & Outward G/L accounts respectively. Say you want to clear by assignment number. Then you have to maintain Interpretation algorithm [015]. Then while uploading Bank statement under Bank Reference field you have to enter assignment numbers which you have given at the time of entry in Inward & Outward G/L Accounts respectively. Based on this assignment number, system will clear those accounts and generates a BRS entry

    Regards

    Diptadhi

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    • Former Member

      Dear Diptadhi !

      Thanks for the reply !

      We define the posting rules for maintaining posting specifications, again why do we need to maintain these "+" and "-" signs to tell the system to debit or credit the main bank account. The accounts which are to be debited or credited are already defined in posting rules, so what is the relevance of this +/- indicators. How the same posting rule can be maintained for both the signs

      Thanks and Regards,

      Ganesh

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