Show TOC

 Clearing on an Open Account Basis

Use

The function enables you to clear items on an account managed on an open account basis.

Integration

Clearing on an open account basis is used primarily for deposit contracts, and the insurance objects that refer to them.

Prerequisites

You have selected open account management in the contract account master data.

Features

You can execute open account clearing with or without balance carryforward. You can make your decision, for each contract account category, in the Implementation Guide.

  • Open account clearing without balance carryforward:

    In clearing on an open account basis, those items that do not have a clearing restriction, or that have clearing restriction ‘D’, are selected. Statistical items are not entered. Credit and receivables, which belong to a contract account and have the same currency, are sorted according to their due date. The oldest items are cleared first. As far as possible, clearing is executed according to the sort, until all items are cleared. Clearing is also carried out in full for equal amounts with credit and receivables. If the credit exceeds the receivables, thus meaning that the credit can not be cleared in full, the last credit item required for clearing is only partially cleared (and vice versa). Just one clearing document is created, with the posting and document date for the posting parameters from the clearing on an open account basis. Posting area 1025 delivers the default values for the clearing reason and the document type.

  • Open account clearing with balance carryforward:

    For open account clearing with balance carryforward, all items up to the to-date for the due date for net payment, or (if you have not filled that field) up to the system date, are cleared. Items for which interest has been calculated and items for which interest has not been calculated are dealt with separately, and are cleared with different documents. The documents created by open account clearing are then reposted on the following day: One document for each clearing, and one document for each balance carryforward, separated according to items with and without interest calculation (a maximum of four documents). The documents for the balance carryforwards have the main and subtransactions for posting area V065, separated according to items with and without interest calculation.

Activities

To set up open account clearing with or without balance carryforward, select Start of the navigation path SAP Insurance Next navigation step Collections/Disbursements Next navigation step Basic Functions Next navigation step Contract Accounts Next navigation step Configure Contract Account Categories and Assign Number Ranges (FS-CD) End of the navigation path in the Implementation Guide.

To define the values for open account clearing with and without balance carryforward, select Start of the navigation path SAP Insurance Next navigation step Open Item Management Next navigation step Define Default Values for Automatic Clearing End of the navigation path and Define Specifications for Clearing on Open Account Basis in the Implementation Guide.

In order to execute clearing on an open account basis, choose Start of the navigation path Periodic Processing Next navigation step For Contract Accounts Next navigation step Clearing on an Open Account Basis End of the navigation path from the Collections/Disbursements menu.