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Reply from Nikki Klein on Apr 21 at 11:11 AM Hi Naveen
So your Concur upload will post straightforward journal entries (FB50 or FB01):
DR Expense A/c + Cost Center
CR Credit Card Clearing + default Profit Center. I would expect this G/L account to fall into the Liabilities section of the Balance Sheet, since it represents monies you owe HSBC.
The HSBC upload will post straightforward AP invoices (FB60):
DR Credit Card Clearing + default Profit Center
CR Vendor HSBC.
One thing you must look into is what criteria you will be using to configure the Automatic Clearing (F.13), and then make sure that all these postings into Credit Card Clearing are loading useful values into the relevant fields that match back to the Automatic Clearing config. This will help speed up the clearing process afterwards, and also assist when you manually clear (F-03) the account.
Standard AP Payments will then DR Vendor HSBC and CR Bank - Outgoing Payments (and your subsequent Bank Reconciliation process will CR Bank and DR Bank - Outgoing Payments). Why do you want to instead make a third posting to Credit Card Clearing? That means you can never clear properly - you will have one credit posting (from Concur) to two debit postings (one from HSBC and one from F110).
Nikki
| | | ---------------Original Message---------------
From: navnelso
Sent: Thursday, April 14, 2016 2:51 PM
Subject: Clearing Account Setup
We would like to accomplish with the setup of a clearing account for all expenses for the T&E as well as the Purchasing card programs we have.
- We want to receive a daily feed from HSBC including all transactions from both credit card programs.
- Each transaction should have a unique ID
- We would need to create a Clearing account in SAP that will have a corresponding default profit center
- once the feed from HSBC is set up, each transaction should create a debit to the clearing account including the unique transaction ID and a credit to the AP account.
- all expense reports from concur will create a credit to the clearing account and a debit to the GL expense account.
The clearing account will be the point for the accounting team to reconcile all items still bending to be submitted under an expense report from concur.
Couple of question:
Do we need to create a new document type for documents that will be created from the feed received by HSBC?
Will items drop from the clearing account once received from concur?
Will any of these configuration affect anything within our current set up?
Please let me know if you have any questions on what we are trying to accomplish. |
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