Hi manohar_d
Bank Reconciliation statement is reconciliation between the account maintained by your company and the account maintained by the bank. There can be instances where both the accounts would not match. A simple example, is that you have issued a cheque to your supplier, but it has not been presented in the bank. In such a case, your accounting system would show the invoice as paid, but it would not be reflected in your bank account since the cheque has not been presented yet for payment by the supplier. Thus you would now know what funds you should keep in your bank account to cover such a situation.
Some of the uses I could think of bank reconciliation process are as below:
1) The comparision between the cash book and independent bank statement allows to have you a visibility of your cash positions and how much balances should be kept in the bank account
2) Non agreement of the two adjusted balances indicate an error which needs to be corrected or advised to bank if the item on the bank statement is wrong.
There are two ways to do Bank Reconciliation in SAP:
1) Manual
2) Electronic Bank Reconciliation.
The below blog for manual bank reconciliation would be a good starting point:
https://blogs.sap.com/2012/07/31/configuration-manual-bank-reconciliation/
The below blog by 29ratul should be a good starting point on setting up EBS
https://blogs.sap.com/2021/01/04/all-you-need-to-know-about-electronic-bank-statement-camt-054-forma...
The below blogs should also be useful:
https://blogs.sap.com/2014/04/10/how-to-configure-electronic-bank-statements-in-sap
Hope this is useful
Thanks & Regards
Sanil Bhandari
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.