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Chapter 14 ■ Defining FI Accounts Receivable and Accounts Payable ■■Note subaccounts the payment methods are posted to: G/L account 111412: Barclays Bank Check issued out (the account check payments posted for Barclays Bank). G/L account 111414: Barclays Bank Outgoing transfer (payments made by bank transfer are posted in this account for Barclays Bank). G/L account 113155: HSBC Bank Check issued out (this is the account check payments are posted for HSBC). G/L account 113158: HSBC Bank Outgoing transfer (payments made by bank transfer are posted in this account for HSBC). The final step is to specify the available amount in each bank account used by your payment program. Available Amounts The Available Amounts field holds the funds available in your selected bank accounts. You specify the amount available for incoming and outgoing payments. During the payment run, the payment program will check the selected bank accounts to find the bank account with sufficient funds, based on your ranking order. If the funds are insufficient in the first bank account, the payment program will automatically check the second bank account, and then the third bank account, until it finds a bank account with sufficient funds for payment. The payment program does not conduct amount splits, but the system can check your bank account based on ranking order to find out which bank account has sufficient funds for payment. If none of the bank accounts assigned to the payment have sufficient funds, payment will not be carried out. Before running the payment program, ensure that you have available funds. Double-click the folder on the left side of the screen (see Figure 14-30) and the Change View “Amount Available”: Overview screen is displayed. Click the button at the top of the screen and the New Entries: Overview of Added Entries screen comes up. Update the following fields: House Bank: Enter the House Bank key you defined in your house bank customizing in Chapter 9. This will allow you to specify available funds in the bank account with this house bank key in your payment program. Account ID: Again, enter the Bank Account ID you defined in the house bank section of Chapter 9. In conjunction with the house bank key, you specify the available funds for each of the selected bank accounts in your payment program. Days: This field is important when you want to post payments before their due date. If you are not posting payment of bill exchange due date, enter 999 in this field. This indicates the maximum number of days you can include in your payment. Using the information in Table 14-4, specify the banking accounts for the paying company code (Figure 14-31). 250
Chapter 14 ■ Defining FI Accounts Receivable and Accounts Payable Table 14-4. Specifications of Amount Available for Outgoing Payment House Bank Account ID Days Currency Amount Available for Outgoing Payment BARC1 BARC 999 GBP 9.999.999.999.999.00 BARC1 BARC 999 GBP 9.999.999.999.999.00 Figure 14-31. Specifying the available amounts ■■Note Use dots (.) to separate amounts in units of hundreds and commas (,) to separate amounts in units of tens. For example, 1000 is represented in the system as 1.000,00. Confirm your entries by clicking the Enter button on the top-left side of the screen and save your configuration. Sort Methods and Adjustment Accounts for Regrouping Receivables/Payables Accounting standards define how companies classify and disclose receivables and payables according to their remaining life. SAP provides the facilities to perform this function in the sort methods and adjustment accounts for regrouping receivables/payable. The remaining life of AR and AP is defined in the sort method. For example, AR remaining life is classified as less than one year or more than one year. Payables’ remaining life is classified as less than one year, 1-5 years, and more than five years. The settings you define here allow you to classify receivables and payables into periods or years. For example, receivables/payables due within a year are classified as receivables/payables due within one year. Likewise, the receivables/payables due after one year, but within five years, are classified as receivables/ payables due between one to five years. Other items due outside these periods are classified as receivables/ payables due after five years. It is important to classify transactions arising from receivables and payables in the G/L account based on periods to allow proper disclosure in the financial report. 251
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■ Contents at a Glance ■Chapter
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■ Introduction Real-Time Three-Ti
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■ Introduction SAP FICO FICO stan
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■ Introduction Chapter 14 deals w
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Chapter 1 ■ Customizing Organizat
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Chapter 2 ■ Defining the Chart of
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Chapter 3 Document Control In this
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Chapter 3 ■ Document Control ■
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How to Display Number Intervals Cha
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Chapter 3 ■ Document Control that
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Chapter 3 ■ Document Control Figu
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Chapter 4 ■ Defining Tolerance Gr
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Chapter 6 Clearing Open Items In th
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Chapter 6 ■ Clearing Open Items A
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Checking the Company Code Settings
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Chapter 6 ■ Clearing Open Items Y
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Chapter 6 ■ Clearing Open Items T
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Chapter 7 Maintaining Currency Type
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Chapter 7 ■ Maintaining Currency
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Chapter 8 Defining Adjustment Accou
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Invoiced But Not Yet Delivered Chap
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Delivered But Not Yet Invoiced Chap
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Chapter 9 Defining the House Bank I
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Chapter 9 ■ Defining the House Ba
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Make Global Settings for Electronic
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Chapter 10 Defining Tax on Sales an
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Chapter 10 ■ Defining Tax on Sale
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Chapter 11 Customizing a Cash Journ
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Chapter 11 ■ Customizing a Cash J
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Set Up the Cash Journal Chapter 11
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Chapter 12 ■ Financial Statement
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Chapter 13 Integration of FI with O
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Material Management (MM) Chapter 13
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Chapter 13 ■ Integration of FI wi
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Chapter 17 ■ End User - Accountin
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Posting Residual Items Chapter 17
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Display Account Balances Chapter 17
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Execute Dunning Chapter 17 ■ End
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Summary Chapter 17 ■ End User - A
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Chapter 18 ■ Customizing the Cont
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Chapter 19 Customizing New General
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Chapter 19 ■ Customizing New Gene
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Classify Document Types for Documen
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Appendix A Useful General Ledger Ac
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Appendix A ■ Useful General Ledge
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Goods Rcvd/Invoice Rcvd Recon Not Y
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Appendix B ■ Some Useful Transact
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■ index Automatic postings, MM mo
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■ index Display actual cost line
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■ index G/L accounts (cont.) fiel
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■ index Posting rules (cont.) G/L
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SAP ERP Financial Accounting and Co
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This book is dedicated to God Almig
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■ Contents Opening and Closing Po
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■ Contents Prepare Automatic Post
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■ Contents Step 3: Assign FSV Nod
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■ Contents ■Chapter ■ 15: Def
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■ Contents Accounts Payable—Doc
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■ Contents Document Types 441 Def
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About the Author Andrew Okungbowa i
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