Bank Master Data Set Up
Introduction
Through this blog, I will try to highlight the bank master data set up required as per Scope item BFA – Basic Bank Account Management
Prerequisites
The following business roles should be assigned to the business user:
Steps
1 1) Create Bank Key
Go to “Manage Banks” app. Click on “Create Bank” and set up the bank key (similar to transaction FI01 in On Premise system). This is where you set up the bank key, name, address, swift code, bank branch, and bank number. If the bank key already exists, then skip to step 2.
1 2) Create House Bank
In this step you set up the House Bank against the Bank you created in Step 1.
a) Go to the “Manage Banks” app and search for the Bank Master created in Step 1.
b) Click on the appropriate Bank name and display the record.
c) Click Edit, go to the House Bank Tab and click on “Add Record” (+).
d) Enter the House Bank ID (this is an internal ID that you create to denote each House bank) and the Company Code and Save.
1 3) Create Bank Account number
In this step you create the Bank Account number and assign the same to the Bank Key and House Bank set up in preceding steps 1 and 2.
a) Go to “Manage Bank Accounts” app and click on “Add Record” (+).
b) In the Header Section, enter the Account Number, Account Description, Bank Country, Account Currency. Select the Bank key already created in Step 1 from the drop down.
c) In the General Data section, enter Company code, account holder, account type, opening date.
a)
d) Maintain IBAN and Bank Control key only if the country is using IBAN and/or Bank control key, else skip the same.
e) Go to “House Bank connectivity” tab and click on “Add Record” (+).
i) In the Connectivity Path tab enter Company Code, select House bank created in Step 2 from the drop down, maintain House Bank Account ID (this is an internal ID denoting the particular account).
ii) In the House Bank Account Data section, maintain the Main Bank G/L Account number by selecting from drop down. This G/L master should already have been created.
Save the above data.
Comments:
The above steps enumerate the basic bank related master data needed to be set up as per Scope Item BFA- Basic Bank Account Management. It is also possible to import the master data set up in one system into another system (For example: From Q to P or vice versa) by following steps under the sections Export Bank Accounts and Import Bank Accounts of the scope item test script. Please check below link for details and select the appropriate country version.
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