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Chapter 9 ■ Defining the House Bank
Acct Symbol: You have already defined a number of accounts symbols. Enter the
appropriate account symbol in this field. The account symbol you enter here will
allow the system to determine which account the related transaction is posted to
when users retrieve bank statements electronically.
Document Type: Allows you to differentiate between transactions and allows the
system to determine which business transaction to be posted to.
Posting Type: It is mandatory that you enter one posting type in the Posting Type
field. The posting type is used during account clearing. For example, Posting
Type 5-clears the credit G/L account. This can be found by using the Search icon
next to the posting type field (see Figure 9-10).
■■Note
This configuration is for incoming checks. The accounting entries for check receipt is to debit your
bank account using the Debit Posting key 40, since money is coming in. Likewise, it will credit a corresponding
incoming check clearing account.
Similarly, the configuration for outgoing checks is the reverse. They credit your bank account using posting key
50 and debit the corresponding outgoing check clearing account.
After updating the screen in Figure 9-10, click the Enter button to confirm your entries. Save
your work.
Next, you need to define the posting rules for the remaining business transactions (S004-Check in,
S005-Wire Transfer-out, S002-Bank Charges, and S006-Other Interim Post).
Click the Back button to return to the previous screen, called Change View “Define Posting Rules”:
Overview, where you will define more posting rules.
Follow Step 4 to define posting rules for the remaining business transactions for your electronic bank
statement, but this time use the information in Tables 9-2 through 9-5.
Table 9-2. Define Posting Rules for Issued Checks
Field Name
Data to Enter
Posting Rule
Enter the key for the posting rule you defined for checks (S004).
Posting Area Enter the bank accounting (1).
Acct Symbol Debit Enter the account symbol you defined for checks issued (C900-CHECK-OUT).
Posting Key Credit Enter the posting key (50) for credit posting.
Acct Symbol
Enter the account symbol you defined for your main bank account (C900-BANK).
Document Type Enter the bank statement document type (SA) for the G/L account posting.
Posting Type
Enter the bank statement posting type (4) for the debt clearing G/L account.
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