SAP S/4 HANA Finance Bank Accounting module is designed to manage all aspects of banking transactions, including payments, reconciliations, and financial reporting. This module supports efficient financial operations by automating the interaction between a company’s financial transactions and its banking partners.
This Business Process Design (BPD) document provides a deep dive into the key business processes within the Bank Accounting module and offers detailed steps for managing various activities such as bank reconciliations, funds transfers, and check clearing.
Key Business Processes covered in SAP S/4 HANA Bank Accounting Document
- Maintain Bank Master Data
The Bank Master Data process allows organizations to store and maintain detailed records of their banking partners, including bank identifier codes (BIC), contact information, and account details. This data supports smooth transaction processing, ensuring that all banking information is up to date for cross-border payments and straight-through processing (STP). - Electronic Bank Statement Reconciliation
The Electronic Bank Statement (EBS) reconciliation process automates the reconciliation of a company’s financial transactions with its bank. The system imports an electronic bank statement (MT940), matches it against the company’s General Ledger (GL), and clears open items. This automation reduces manual intervention and enhances financial control, with options for manual reconciliation when needed. - Manual Bank Statement Reconciliation
In cases where an electronic bank statement cannot be provided by the bank, the Manual Bank Statement Reconciliation process comes into play. Users manually prepare and upload the bank statement into SAP S/4 HANA, matching it with the company’s financial records to clear open items and ensure accurate accounting. - Cheques Clearing from Bank
The Cheques Clearing process manages the transfer of funds when payments are made using checks. This involves recording the receipt of checks, depositing them into the bank, and ensuring that both outgoing and incoming check payments are reflected accurately in the company’s accounts and reconciled with bank statements. - Electronic Funds Transfer
The Electronic Funds Transfer (EFT) process allows for the secure and efficient transfer of funds between bank accounts electronically. EFT is commonly used for vendor payments and payroll transactions, offering a faster and more secure alternative to physical checks. Once the transfer is completed, the system ensures that all bank statements are reconciled.