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Reply from Nikki Klein on Jun 18 at 12:00 PM Hi Kapil
The simplest way is to first write down what the Posting Rule for the Outgoing ACH should look like - for example, DR ACH Clearing, CR Bank. This is then assigned to the bank statement's matching BAI code.
The Posting Rule you need to define will do the opposite, and is assigned to the bank statement's BAI code to that.
Nikki.
| | | ---------------Original Message---------------
From: KapilMehta
Sent: Wednesday, June 18, 2014 10:24 AM
Subject: EBS - How to process NEFT Rejections [ACH Return/Reject ]
We are implementing EBS in India Company codes using Citibank BAI2 format. How can we handle NEFT Rejections using EBS functionality ?
NEFT Rejections means :- Company tries to pay its vendors by Bank transfer, but due to some reasons payment could not be done to vendor bank account. So bank includes credit in EBS file.
Current Process for NEFT Rejections :-
F110 creates ZP Accounting document which clears Vendor Invoice [ Day 1 ]
Dr Vendor
Cr EFT Clearing GL
Manual Bank reconciliation creates BR Accounting document [ Day 2 ]
Dr EFT Clearing GL [ Clears above GL Line item ]
Cr Cash gl account
Day 3, Citibank sends NEFT Rejections in email. Details include 'Customer Reference field' which has combination of CompanyCode & ZP Document #. Business user manually finds vendor number and posts following entry -
Document type KE [ Day 3 ]
Cr Vendor
Dr EFT Clearing gl account
Above process of creating KE document is a manual step. My Client does not use EBS right now.
End objective is:-
1. GL accounts [ Main bank and Sub-accounts ] should be updated since payment did not happen.
2. Vendor Invoice should either be opened again OR a new Credit should be posted to vendor account
But Using EBS, how can I meet requirement for NEFT Rejections ?
Please provide feedback.
-Thanks
Kapil |
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