- Create a bank GL master record
- Create a Bank Key
- Define a House Bank
- Assign House Bank to GL master record
1. Create a bank GL master record
Steps for creating ‘ICICI Bank Account’ under Current Asset in the Balance Sheet:
- Transaction code: FS00
- Enter GL Account no: (eg: 180001); Enter company code (in our eg: ADFW) and click on the small ‘CREATE’ icon.
- You will notice few tabs here: Type/description | Control data | Create bank interest and so on…
- Under ‘Type/Description’ tab: for ‘Account group’ select ‘Current Assets’, Tick on ‘Balance Sheet’ and Enter the Long/Short Texts “ICICI Bank Account”
- Under ‘Control data’ tab: Account currency (in our case) is USD, Tick on ‘Only balance in local currency’, for ‘Sort Key’ type ‘001’ and tick on ‘Line item display’
- Under ‘Create bank interest’ tab: For ‘Field status group’ type ‘G001’
2. Create a Bank Key
- SAP menu > Accounting > Financial Accounting > Accounts Payable > Master Records > Bank > Create : (or use TC FI01)
- Enter Bank Country (IN)
- Enter the Bank Key (Eg: 10002525) and press ENTER
- Fill in Bank address and control data (Un-check ‘Postbank acc’)
Bank Key: Every bank has a unique identification number and each branch of that bank has different unique identification number assigned by the top financial body of a country. These unique numbers are known as bank Keys.
In India MICR and IFSC codes are in place for this purpose. If you are using Electronic Funds Transfer (EFT) then the bank key is MICR code. If you are using NEFT/RTGS payment process then the bank key to locate a particular bank is the IFSC code. So (In India) for Bank Key in SAP you can enter the bank account number.
3. Define House Banking
- Type in the Company code and pres ENTER
- NEW ENTRIES > Enter 5 character HOUSE BANK unique ID (for eg: ICICI).
- Enter Bank country and Bank key
- Enter phone number and contact details and hit enter key.
- Address and other details will be automatically filled in as it was already defined in CREATE BANK KEY session
- Double click on BANK ACCOUNTS
- NEW ENTRIES
- Enter Account ID (eg: CUAC) and a description (Current account)
- Enter Bank Account number and currency:
- Enter Bank GL account number: (eg: 180001) – This will link GL a/c in BS to House bank
- Hit ENTER and SAVE
4. Assign House Bank info to GL Account
- TC: FS00 > Select bank GL master record (Eg: 180001)
- Click on the ‘Change/Edit’ icon
- Under create/bank/interest : House bank: (ICICI) and Bank Account ID: (CUAC)