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Examining the Bank Statement Status

<div id="content"><div class="parentsection"><div class="section"><div tabindex="0"><h3>Bank Statement Monitor</h3></div><p tabindex="0">In the context of SAP S/4HANA Public Cloud, the Bank Statement Monitor is a comprehensive application designed to streamline and optimize bank statement processing. It provides a centralized platform for managing, reconciling, and analyzing bank statements, ensuring accuracy and compliance in financial reporting.</p><p tabindex="0">The Bank Statement Monitor offers a user-friendly interface and intuitive functionality, enabling users to efficiently process bank statements, identify discrepancies, and make necessary adjustments. Leveraging advanced automation capabilities reduces manual effort, enhances data quality, and improves overall efficiency in bank statement processing.</p><p tabindex="0">To gain a comprehensive understanding of the Bank Statement Monitor and its capabilities, we recommend watching the following video, which provides a detailed overview of the app, including a comprehensive explanation of the various status columns.</p></div></div><div class="parentsection"><div class="section"><p tabindex="0">Learn how the Bank Statement Monitor app streamlines the monitoring of bank statements for cash specialists and accounts receivable accountants, ensuring accurate and timely processing to identify and resolve errors efficiently. Select the play button to learn more:</p><div class="kalturaVideoLessonWrapper"><div aria-label="Learn how the Bank Statement Monitor app streamlines monitoring of bank statements for cash specialists and accounts receivable accountants, ensuring accurate and timely processing to identify and resolve errors efficiently." class="kalturaVideoLessonContainer" data-testid="video" id="1_kn92a4gk"></div></div></div></div></div>

Monitor Bank Statements

Operating the Receivables Management Process in SAP S/4HANA

Learn how the Bank Statement Monitor app streamlines monitoring of bank statements for cash specialists and accounts receivable accountants, ensuring accurate and timely processing to identify and resolve errors efficiently.<br><br># This description was auto-generated #

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A typical task for a company's treasury department is to produce regular reports about that company's current cash position and its future cash forecast. The company's collections department, on the other hand, needs to ensure that all customer payments are posted and reconciled correctly and on time. This way, the collection department can focus on following up on outstanding payments. All of this depends on the accurate and timely processing of bank statements. And that's why cash specialists and accounts receivable accountants need to monitor the status of their bank statements so they can detect any errors in a timely fashion. With the new Bank Statement Monitor app, you can easily monitor the status of end-of-the-day bank statements for your bank accounts in one place. In addition to checking the status for a specific date, you can also get a historical overview of the records over the previous 14 days starting with the date you specify. You can then efficiently identify any problematic bank statements and follow up accordingly. Now let's have a look at how this works. So in this example, I'm a cash specialist in company 1010. An essential part of my daily routine is to make sure that bank statements are uploaded and processed in a timely manner and that they're error free. Here's where we start. I've opened the Bank Statement Monitor app. I enter the filter criteria to display the bank accounts for which I'm responsible. The key date fields indicates the baseline date for determining the bank statement status. Since I want to check the most recent status of these bank statements, I leave the key date field as it is because it's set to the current date by default. Then I'll click go. And here are the monitoring results for my accounts. In the single day view, I see four status indicator columns. Let's look at the processing status first. Here I can check to see whether my bank statement has been processed correctly. The difference status shows me whether there is a difference between the internal GL account balance and the bank statement balance. The serial number status column shows me whether the sequence of the last two bank statements in the bank account is complete or not, and the reconciliation status column tells me whether there are any open items in the internal bank account. For accounts DEBA 4, I notice that the processing status column shows an error, so something must be wrong here. I'll click on the error icon and an error message is displayed. To learn more about this error, I can navigate to this account's details page. At the top of the screen here, I get some general information. Now, although the other three status checks for this account return no errors and they're The overall status for the account is an error because the processing status is error. Now I'll choose the processing status tab. Here I can see that the most recent bank statement was received on November 19th, 2022. But based on my current key date of January 24th, 2023, and based on my interval settings, the expected statement should have been received between January 9th and January 24th. In this case, the end date to the expected date range is my key date, and the start date is the key date minus the date interval. In this case, it's half a month. Okay, so I figured out the reason for the error, and now I can follow up on the issue. For example, I can contact the bank to have them send the missing bank statement, or I can contact the tech team to see whether there's been a transmission problem. How about the statement for account ZJ02? I'll go back to my list page and I see that both the processing and the reconciliation status columns show a warning here. So, like I did in the previous example, I'll click the warning icons one at a time to quickly take a look at these issues. And again, I can also navigate to the object page to check for more information. So here, checking the processing status warning, I can see that although the statement has been received as expected, it hasn't been posted completely. so the statement status is not completed. Then I can go check the reconciliation status warning. In the table here, I see the reason. It turns out that the line item of this statement hasn't been posted to the subledger. So to solve this issue, I can use the related apps option to navigate to the reprocess bank statement items app, where I can manually reprocess and clear the item. Now, apart from checking the bank statement status for a specific date, I can also get an overview of the monitoring records over the past 14 days, starting with the key date that I specified. In the dropdown list here, I can choose the status indicator that I'm interested in, and the system will show me the 14-day records for this status. For example, I can choose Processing Status and drag the horizontal scroll bar at the bottom of the screen to view the processing status for each date. Here, the Collective Status field indicates the aggregate results for the status in question over the last 14 days. If there are any errors in the last 14 days, then the collective status shows error. Likewise, if I choose reconciliation status, the system displays the corresponding results. If I have a long list of bank accounts that I need to manage, and I only want to check the accounts for which the collective status over the last 14 days is either error or warning, I can also filter for that. And when I set that filter, I can easily go through these remaining issues in that timeframe. Now have a look here at the refresh button. What do we use this for? Well, the monitoring results in this app are generated using background jobs that run on a regular basis. But say sometimes I might need data from right now or anytime after the most recent timestamp on the most recently run background job. In this case, I can use the refresh button, which is under the single day tab, and then I can follow the message instructions to complete a refresh of my data. And once that refresh is completed, the results are updated and the creation time is updated accordingly. And that's it! This app allows you to monitor your bank statements and identify problematic statements easily, efficiently, and in one place. And now it's your turn. Why don't you have a try?