FI BA

Bank Accounting is used to handle accounting transactions that we process with our bank. It includes the management of bank Master data, the creation and processing of incoming and outgoing payments. All country specific characteristics such as the specifications for manual and electronic payment procedures, payment forms or data media can be freely defined in this

Module.

Once we import the bank statement and post that on SAP the bank reconciliation will done automatically.

Bank Directories

The bank directory contains the bank master data. This includes the bank address data and control data, such as the SWIFT Code [Ext.] and Bank Groups [Ext.]. Details for post office banks should be identified specially. 

The bank directory must contain the master data for all the banks that you require for payment transactions with your business partners. This includes your banks and the banks of your business partners.

The bank directory can be created in two ways:

v Automatic Transfer of Bank Master Data

v Creating, Changing, or Displaying Bank Master Data in Financial Accounting

House banks

House bank can have several bank accounts associated with it.  A unique bank key identifies each house bank.  Bank key form vary from country to country. In US, bank key knows as American Banker's Association (ABA) number.

 Important things  to remember in Bank Account

v Bank Master can be created four ways :

1.     Using the create bank transaction in the accounts payable/receivable master data menu.

2.     Bank key contains - Bank Master data contains Bank name, Region (State),   Address

v Bank key is assigned to a house bank.

v GL a/c code is assigned to the house bank along with Account id.

v For every bank a/c G/L account must be created. This G/L account is assigned to the bank a/c and vice versa. Both accounts have to have the same account currency.

v In the Customer/Vendor master record, the field “Bank Type” is used to distinguish between different banks.

v Using the house bank id and the bank types the payment program determines the banks to be used.

v Each bank a/c is reflected in the SAP system by a combination of house bank ID and account ID (bank type).

v The bank group is used for classifying banks. The key is freely assignable. The aim of classification is to group banks together in such a way that payment transactions within a group can be carried out as fast as possible (payment optimization).

v The SWIFT code is used for identifying banks in international payment transactions.

v Every bank master record is identified by the bank country and bank key.