Bank Accounts and Bank Subaccounts 

Use

It is advisable to use bank subaccounts for posting incoming and outgoing payments.

If you do not use subaccounts, set up your standard bank accounts in the payment program configuration menu. See House Bank Selection by the Payment Program

This includes among other things the accounts for outgoing checks, outgoing transfers, incoming checks and bank collection (see the figure below).

Using subaccounts has the following advantage: you can reconcile the balance of the account at your bank with the balance of your corresponding G/L account at any time. The subaccounts ensure that all incoming and outgoing payments are only posted to the G/L bank account when the money is actually debited from/credited to your bank account. This transfer posting from the clearing account to the bank account is made when you receive the appropriate account statement from your bank.

Bank Accounts and Bank Subaccounts: Example

Prerequisites

To use bank subaccounts, create subaccounts with whatever degree of differentiation you require. You can create, for example, a bank subaccount for each bank or for each bank and a group of payment methods. The charts of accounts delivered with this package provide a reference for such differentiation.

You must specify the account number so that the payment program can post to the appropriate bank subaccount (see the following figure). This posting is made on the basis of bank ID, payment method and if appropriate, currency.

Subaccounts are generally managed on an open item basis and with line item display, since you want to be able to see via these accounts at any time whether a business transaction has been completed.

Notes on the Sort Sequence of Items in Bank Subaccounts

If bank subaccounts that are usually posted to by the payment program (for example, the account for outgoing transfers) have a special sort sequence, it is easier to process them when posting the bank statement.

The documents from the payment run contain the date and identification number (such as 19940301-ID) of the payment run in their document header text (field BKTXT). You can have the system automatically transfer this information to the Allocation field in the line item if you define a corresponding item sorting rule and enter this in the G/L account master record.

Subsequently you can, when entering a bank statement, select via the Allocation field all the outgoing transfers from a certain payment run in order to clear them.

Posting Separately by Business Areas

If you have determined that the payments for a certain company code should be made separately per business area, then the bank posting is made to the business area of the paid items.

If you do not separate the payments by business area, you can specify that the bank postings should be made to one particular business area. To do so, specify the required business area for the bank account (see the figure above).

This specification is only effective if you do not already pay separately by business area.

In all other cases the postings to the bank subaccounts are carried out without reference to business areas.