Bank Reconciliations in the Cloud

[former_member132309]

Hello,

My client is interested in doing automated bank reconciliations in the cloud.  I know we can load automated bank statements, but is there additional functionality they can use?  How do other clients handle this?

Thanks a ton!

Drew Milstone

SAP S4HANA Cloud

Customer Engagement Executive

Mobile:  +1 480-253-2024 

Email: Drew.Milstone@sap.com

[David_Byrne · Accepted solution]

Hi Drew

In S4HC there are multiple steps for setting up automated bank statement reconciliation. These involve the following

1. Set up the related SSCUI configuration in S4HC

Update the payment file formats to be sent to the bank for supplier payments

- SSUI 102569 - Create Payment Medium Formats

Update the configuration for Electronic Bank Statement processing for the related external transaction type in line with the House Bank requirement

- SSUI 100558 - Make Global Settings for Electronic Bank Statement

2. Set up Interface to the related House Bank

In order to provide automated integration from SAP to the house banks SAP recommends the use of SAP Multibank Connectivity (MBC).

MBC is a SAAS based solution that provides direct connections to the customer House Bank either through banks which are members or to other banks through the SWIFT network. More information on this tool can be found using the below link

https://www.sap.com/uk/products/multi-bank-connectivity.html

As another option a standard API is provided in order to for customer to integrate Bank Statements from the House Bank. The scope item Bank Connectivity via APIs (2YM) is available for this process

https://rapid.sap.com/bp/#/browse/scopeitems/2YM

It should be noted that this scope item requires additional SAP S/4HANA Cloud subscription to the standard subscription. also for the API this has to be built by the customer

David

[former_member95896]

Hi Drew,

We've been doing bank statement uploads into our instance of S/4HANA Public Cloud for almost a year and definitely seen some improvements in the interface surrounding messaging, and error logging. We're loading BAI2 files from our house bank and our depositing banks for our stores. The functionality is there to automatically clear against transactions and while the posting rules and interpretation algorithms are managed by SAP and require expert config to change there is flexibility to add and assign those rules and algorithms to any external bank code you might encounter.

Some things we'd like to see moving forward is more user flexibility to control and adapt those algorithms and rules. In our situation being a restaurant company we've not been able to use a lot of the automatic clearing because the default SAP rule is by amount and date and we've got a lot of transactions by credit card as an example that are same amount on the same date. We'd love to get more of that automated instead of having to spend hours manually reprocessing bank statement items every week and we'd love to see the actual file processing take less time as well.

What other functionality would you like to know about?

Best Regards,

Ryan

[former_member113052]

Please review https://influence.sap.com/sap/ino/#/campaign/1169/ideas for pending Influence items in this space. I see a number of items on the bank file topic and if these would be of value to you, please vote for them. Votes are what get these ideas into the product. Thanks much.