Managing Company Specific Bank Master Data

Objectives

After completing this lesson, you will be able to:

  • Summarize what bank master data is accurately
  • Summarize what a housebank is, within the SAP system, accurately

Bank Master Data

Bank Master Data: A centralized repository for all data related to a company's banking relationships.

Use the Manage Banks Master Data app to manage banking information. You can keep track of important information, such as bank name, country, and key. The app has several tabs that display useful information:

  • General Data: The bank's name, location, and keys.
  • Address: The street, city, postal code, and country/region.
  • Change History: Track any modifications made.

Select the play button to learn more about the Manage Banks - Master Data Fiori app.

Page's Summary

The Manage Banks - Master Data app enables users to create, display, and administer bank master data. The app has search functionality, filters for a precise search, and a directory of banks sorted by various elements. Users can add new banks and export data to Microsoft Excel or PDF for further analysis or reporting.

General Data: Basic information about the bank, such as bank key, name, country code, SWIFT code, and bank group.

  • Address: Details regarding the address - street name, city, postal code, and country/region.
  • International Address Versions: Used to store multiple versions of an address that is different languages.
  • House Banks: Details regarding house banks (or internal banks) used by the company.
  • Bank Contact Persons: Contact details for persons at the bank
  • Related Branches: Information about the various branches of the bank.
  • Bank Service Mappings: Information about specific services the bank provides.
  • Netting Business Partners: Used to assign business partners to the bank for netting transactions.
  • Netting: Offsetting of debits and credits
  • Business Partners Used: Used to record details on other business partners.
  • Companies Used: Displays the companies that use this bank for their transactions.

A key aspect of bank master data is the relationship between the different pieces of information.

  • Bank General Data fields connect with contact details and account information to provide a comprehensive picture of the bank's identity and your relationship with them.
  • Account Information, Other bank-specific data, and transaction-specific data are often interconnected, as the details are used together to carry out financial operations. For example, money transfers need correct account numbers and correct transaction-specific data like SWIFT codes or IBANs.
  • Control Data is related to both your Account Information and the bank's General Data, as control data will vary based on both the nature of the account in question and the bank's policies and processes.

Understanding and maintaining these relationships can streamline financial processes, increase efficiency, reduce errors, and ensure the smooth execution of transactions.

So, how do you navigate around the Manage Banks - Cash Management Fiori app? Watch the following video:

Page's Summary

The Manage Banks Cash Management app improves cash operations by providing an overview of bank accounts, transactions, and balances. It assists businesses in tracking liquidity, transferring funds, and managing bank statements in real-time. The app's interface includes filters to search results and view bank directories. It provides tabs with details about the bank or client's general data, contact information, house banks, and related branches and services. Users can add filters, redirect to other apps, or export directories, helping to optimize cash flow and manage liquidity effectively.

House Bank

House Banks: In SAP S/4HANA, a house bank represents the company's bank and carries out any banking transactions. You should get familiar with the following fields:

  • House Bank ID: Assigned to each house bank for easy identification within the system.

  • Country Key: Assigned to identify which country the house bank is in.

  • Bank Key: The officially recognized bank code.

  • Bank Accounts: Accounts linked to the house bank.

  • Payment Methods: The defined payment methods, such as checks, bank transfers, and so on.

Creating and managing house banks within SAP S/4HANA Cloud allows for payment transaction processing, bank statement reconciliation, cash management, and financial reporting.

The House Bank ID and Country Key identify banks globally. The Bank Key provides details at a country/region level. Each bank can have multiple accounts with different payment methods - allowing efficient cash management and financial processes in SAP.

In SAP S/4HANA Cloud, a house bank is a virtual representation of a physical bank account. It stores details for bank-related transactions. A house bank can include multiple subcomponents or bank accounts assigned to different company codes.

There are possible usages of house banks in the system in contracts and security accounts:

Contracts: In business contracts, a house bank account may be designated for specific transactions, payments or fund transfers related to that contract. It ensures the seamless and automated process of contract-associated transactions, such as automatic payments or receipts.

Security accounts: In operations involving securities, a designated house bank account may be used for transactions related to the buying/selling of security, or for receiving dividends/payments related to those securities.

House banks group all banking procedures under one umbrella. By assigning banks for different needs, the process becomes regulated, automated, and easy to track. This enhances financial reporting accuracy and provides effective cash and bank management.

Create Bank and House Bank

In this exercise, you will create a new bank and house bank.

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