SAP Scene

Cheque Deposit Receipt Processing

This functionality should more accurately be called the 'payment receipt recording and processing transaction' since it can also be used to record and process cash receipts.   However it is primarily intended to process the receipt of cheques.

The functionality is useful if the organisation receives a reasonably large number of payments in cheque form directly. These payments have to be recorded and then deposited as quickly as possible at the bank (usually on a daily basis). The payments then need to be applied to the customers account.

The functionality :

• facilitates the recording of the payments in a variety of customisable fast entry screens;
• can produce a printed deposit slip listing the cheques just recorded when can then be used to deposit at the bank directly;
• can generate clearing transactions to find the customer and attempt to match the payments against the open invoices based on whatever data has been entered (Customer Name, invoice numbers etc);
• allows segregation of duties between say a cashier who simply records the payment using this transaction and an accounts receivable clerk who is responsible for following up on the application of the funds to the customers account if the system was not able to process the payment automatically. This segregation of duties may be an audit control requirement in your organisation to minimise fraud.

Without this functionality you would be processing the payments individually using standard GL document entry transactions.

With normal configuration and use, the Cheque Deposit transaction when completed will print a deposit list and generate two SBDC (Batch Input) sessions :

• a bank session. This will typically post a standard GL document/s which debit a 'Payments received Clearing' account and credits a 'Unallocated payments Clearing' account.
• a subledger or clearing session.  This will typically attempt to post clearing transactions (one per payment entered) which debit the 'Unallocated payments Clearing' account and credit the customers accounts.  It is possible or even likely depending on the nature of your business that not all of these will be able to be processed automatically and therefore some manual post processing of transactions in 'error' sessions may be required.

The clearing accounts help confirm that transactions were completely processed:

• If the matching transactions in both sessions complete successfully then the 'Unallocated payments clearing' account will offset to zero indicating that all payments have been successfully applied.
• When the bank statement is loaded, it should credit any deposits made to the 'Payments received Clearing' account.  This will offset the entry made by the bank session, indicating that all payments were successfully deposited to the bank.

A guide covering the following can be purchased at the Knowledge Shop

Banks

Describes the terminology and set up of banks in SAP, specifically the  relationship between bank accounts, banks, house banks, bank directory, cash management account name and the General Ledger bank accounts.

GL Bank Accounts

Describes how GL bank and bank clearing accounts are used in the Treasury / Accounts Receivable/Payable functionality.  Uses the SAP standard bank accounts as an example to explain the intended purpose of each bank related GL account and what the entries in those accounts should indicate - specifically the uncleared entries.

Recording the received payments manually

Guidelines on executing the cheque deposit transaction.

Understanding the Business Requirements

Describes the information that you should gather about your company's operations in this area to adequately configure it.

Cheque Deposit Terminology

Explains the key terms that are encountered in the configuration.  Must be read before embarking on the configuration section.

Cheque Deposit Configuration

Guidelines on configuring the Cheque deposit. Some of this configuration is common to the manual and electronic bank statement configuration.

Preparing test data

Presents some hints on preparing test data.

This guide can be purchased at the Knowledge Shop.