Creation of a Reference Account for Account Closure 

Purpose

When you close an account, you can specify another account to which the remaining balance is to be transferred when the account is closed. This reference account can be an external or an internal account.

For accounts with an external reference account for account closure, you can also define a special CpD (suspense) account for collecting the debit balance on account closure in Customizing for Bank Customer Accounts (BCA). Define the special suspense account by choosing Account Management ® Maintain CpD-Accounts for Special Processes.

Prerequisites

If you have created an entry in Customizing for the account bank area for which you are creating the reference account for account closure, you can select the account identification for an external reference account. You make this entry in Customizing for BCA by choosing Account Management ® Basic Functions in Account Management ® Set up Recipient Account Identifications.

Process Flow

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       1.      Choose Account ® Change.

The system displays the initial screen for the display of an account.

       2.      Enter the bank area, account number, and, if required, the business partner data.

       3.      Choose Continue.

The account maintenance screen appears.

       4.      In the Basic Data tab page, enter the date of the closure.

       5.      Specify if the reference account is managed internally or externally (at another bank).

       6.      Choose  with the quick info text Create Reference Account.

       7.      Specify the account details of the reference account on which the balancing result of the account closure is to be posted.

       8.      Save your entries.

Result

You have successfully created the reference account that is used in account closure.