Account 

Use

The account is the central object of the current account system.

You can use accounts within the current account system for the normal purposes of a current account (demand deposit account). The components of a current account are supported, such as balance-based balancing and processing payment transactions. The system also supports term deposits (fixed deposits, overnight money, deposit at notice), savings bonds (normal interest) and savings deposits with an agreed or a three-month period of notice.

You create accounts as characteristic of a product. A product is a group of services based on the requirements of individual bank customers. You define the product using fields, features and payment transaction operations. General processing characteristics are controlled by products, whereby these processing characteristics are transferred to the assigned accounts.

SAP provides you with the Product Configurator to enable you to configure products. The Product Configurator facilitates the definition of the business and technical features of a product, its version creation and the layout of the functions on the interface. You can use the Product Configurator to add to the features of the products. (See also: Product Definition).

Structure

The structure of products and accounts in connection with the tool Product Configurator is as follows:

The Product Configurator is used for creating different products such as a junior bank account, a commercial bank account, fixed deposits of 30 days, and variable fixed deposits of between 60 and 90 days. These products serve as a template and basis for accounts that you create for them. An account is always related to one version of the product, although the products can exist in several versions. You can make use of these versions when, for example, you have changed a product but the accounts relating to the old version of the product have not been closed.

The product controls

·        The functions that can be used on the account

·        The posting operations that can be used

·        The media used for initiating postings

·        The attributes that exist for an account and the way in which the fields are displayed in the application.

Every product is defined according to a Bank Area. However, in the Implementation Guide (IMG) you can restrict the products for certain bank areas.

Integration

Similar characteristics apply for the definition of accounts as for the definition of business partners. The technical tool used for the creation of the account master data is the SAP Business Data Toolset. This has the same advantages as listed for the central business partner. Account creation is flexible, which means that you can create as many bank fields as you require by using the product, and without the need for modifications.

You can define the layout of the screens to suit your bank requirements. Online transactions and interfaces for data transfer are provided to enable you to process account master data. The search function is supported by search and matchcode fields.

Scope of Functions

You can choose the definition and description of the products as required. As mentioned above, attributes are assigned to each product or account, which control the executable functions, the standard conditions and the screen layout or the view of an account. You can provide the account with individual conditions, limits and the appropriate business partners.

·        You achieve the depiction of single or joint accounts by assigning an account holder to an account. It is also possible to display different relationships between accounts and business partners. One business partner assigned to an account, for example, can be the account holder, another business partner the authorized drawer, and another business partner the bank statement recipient.

·        You can define the allowed business transactions for every account type (for example, it is not permitted to overdraw an account kept on a non-borrowing basis).

·        It is possible to manage accounts “for the benefit of a third party”.

·        You define nostro and vostro accounts accordingly, and maintain and use them in a similar way as customer current accounts. The only differences are the different attributes.

·        An account can be managed in any currency. Provision is made for the conversion accounts to Euro and also the alternative display in Euro and the EMU joining currency. A customer can have the account managed in Euro from the date she or he requires.

·        You can create relationships between different accounts as a tree structure (account hierarchy). Operational usage includes cash concentration (the clearing of lower-level accounts in favor of a higher-level account) and interest and charge compensation.

·        You always create accounts for a certain bank area. This means it is possible for accounts with the same account number to exist in different bank areas.

·        You can assign conditions to the account as standard conditions or individual conditions.

Special functions for deposit banking are as follows:

·        Rollover and notice (partial and full amount) and their management.

·        Monitoring of the term start, overpayment, or underpayment on each account.

·        Control over the processing of incoming and outgoing payment items (post, in postprocessing, reject) during one of the saving phases (preliminary phase, fixing phase, maturity phase).

·        Interest calculation with account-based interest rates (term, amount and currency based), the preliminary interest calculation and posting interest calculation results.