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Clearing Bank Accounts Manually in SAP????

muhammad_yousufali
Participant
0 Kudos

Hello everyone,

My client's scenario is, we have entered backlog data, and now we are about to close fiscal year, when I try to see Bank MAIN account balance , it does not show any balances, reason being, balances are still lying in their respective Incoming and Outgoing Accounts, We basically dont have enough time frame to do bank recon in current scenario, my query is how can i clear bank clearing accounts and transfer their balances into bank's main account.

Look forward to hearing from you.

Humble Regards

Muhammad Yousuf

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Muhammad,

Can you please be more clear what the situation is.

Does it mean that you did not book any bank statement (so your main account balance is zero), but some other processes (e.g., clearing of customer or vendor payments) were booked to the incoming or outgoing accounts? So, for example, your Incoming account has now a debit balance because you booked Debit Incoming - Credit Customer but you did not offset it against the main bank acct?

For the main bank account, the main requirement is that on your balance sheet day, it shows the same amount as the original bank statement from the bank. Now, how to get there. The best would be, if you could load all the missing bank statements, because then you could easily match the incoming and outgoing items with what you already have. Else, you could try to "shortcut" it and only book the totals with FB50 or so - but then you may have huge trouble finding out where any differences come from.

Is it really the case that no bank statements were loaded for an extended period? It will be tough, but looking from a distance, loading all the missing statements (and then finding a way how to match the items on the accounts) seems to me the best approach long-term.

Does this help?

muhammad_yousufali
Participant
0 Kudos

Hi Jan,

Thank you your prompt reply, this is much appreciated, yes you got it, situation is, we have not uploaded any bank statements in the system, and our bank main account is zero at this stage.

As I mentioned in my above thread, we are running short of time and we have to go live in next 10 to 15 days, also we had done bank reconciliation in our legacy system, whose data has been entered by us, which means, the bank data we have entered into SAP, is already reconciled, since we are doing backlog,

Simply my client wants to have bank statements created in SAP, perhaps it's gonna take much time in doing so, however transfering balances through FB05 or F-04(post with clearing) could be a way out.

Please correct me if I am wrong.

Thanks again.

Regards

Muhamamd Yousuf

Former Member
0 Kudos

Hi Muhammad,

OK, so you are talking about data relating to periods prior to the cutover day.

Normally, there is no need to enter all the detail for the past periods, if the amounts are already reconciled in the legacy system. I could imagine, e.g., to post only monthly movements (sum of debits / credits per account and month), and if the account is open-item, then clear these at the end and re-create open items on the cutover day only. But you of course must make sure that the structure matches with what you book on the incoming/outgoing accounts on the opposite side, so that all items are cleared on the cutover date in SAP if they were already reconciled (matched, cleared) in legacy.

It is difficult to write more without knowing your cutover strategy (what detail you want to see for the past periods). But this could be a reasonable approach.

Good luck!

muhammad_yousufali
Participant
0 Kudos

Hello Jan,

I hope you are doing good, Yes, I am talking about periods prior to cutover date, you have sketched our scenario correctly, we have to just transfer balances to main bank account through F-04.

Please let me know how can i re-create open items after transfering balances to main bank account.

Thanks a lot for your prompt reply and for your help, I appreciate it.

Humble Regards

Muhammad Yousuf

Former Member
0 Kudos

Hi Muhammad,

One possible FI balance conversion scenario is (e.g., your go-live is 01.11.2013):

- opening balance of the year, with posting date 31.12.2012, against a conversion account (e.g., 999999 or something like this - it must be zero once you upload all accounts)

- account movement of each month (debit vs credits, or debits and credits separately), posted again on the last day of each month against the "conversion account" (that will be zero afterwards)

- this way, you will end up with correct account balances on cutover day (e.g., 31.10.2013). This is sufficient for P&L accounts and for balance sheet accts without open item management.

However, the open items in this case would be useless because you would see monthly total and not what remains unreconciled (by item). So, for these accounts, the next step should be, to set the balance of these accounts back to zero (e.g., against the same "999999" or against another account created for the same purpose), clear them and then book them back as open items, in the structure you need for your reconciliation.

This seems to be the best approach, in my view. Would this work for you? Or did I misunderstand anything?

muhammad_yousufali
Participant
0 Kudos

Hi Jan,

Thank you so much again for commenting on my thread, no not all  you did not misunderstand the scenario, you have got it very well, okay i will do the above steps and then definitely will get back to you for further help.

Humble Regards

Muhammad Yousuf

Answers (0)