the Bank vote In SAP Business One, the accounting account corresponds to a bank statement. The goal is for the bank balance in SAP Business One to match the bank statement.
Context
In accounting practice, a company maintains an accounting account for each of its own bank accounts. The reconciliation with the bank statements usually takes place daily, but at least monthly. If a company opens several bank accounts on one accounting account, the task becomes significantly more difficult.
Missing payments have consequences. If an initial payment is not matched with the invoice, a double payment threatens. If an initial payment is not matched with the final invoice, the company may threaten customers who have already paid.
Account statement processing in SAP Business One
The account statement processing program downloads the account statement from the company’s home bank. This function is enabled under Administration • System Initialization • Firm Details on the Basic Initialization tab. The integrated account statement processing program deletes the Payment Engine add-on. The statement is imported via a file import or manually entered with the beginning and ending balances. In Germany, the format Multicash is commonly used.
Matching criteria assign the appropriate documents to the extract lines. Up to three rules run in up to three rounds. All rules must be met in each round. It is useful to adjust the criteria from round to round: a first round checks document number, date and amount, a final round only bank account number and amount. With more tolerant criteria, the risk of matching an incorrect invoice increases. For unmatched lines, SAP Business One generates a booking proposal.
At the beginning of the processing, the bank balance in SAP Business One should correspond to the initial balance of the extract, followed by the final balance. Therefore, no one may debit the bank account between two bank statements. To do this, the company, for example, sets up an interim account for the payment assistant. The bank statement processing then debits this interim account against the bank account.
Reference to the Versino accounting service
In Versino Accounting Services, the creditor accounting ends with the reconciliation of the creditor accounts: open items and bank reconciliation.
Demarcation
The bank vote is similar to a bank account and statement of account. The internal vote, on the other hand, corresponds to related entries within SAP Business One, such as payment and invoice. In these cases, the sum of all amounts to be voted must be zero. The bank vote report, payment reconciliation, internal vote, and vote have their own entries in the glossary.
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