Automated Matching of Store and Bank Entries in SAP FICO

[VivekGhulaxe]

Hello SAP FICO Experts,

I am reaching out to seek your guidance on the topic of automating the matching process between store entries and outstanding bank entries within the SAP system.

Efficiently reconciling store entries with pending bank transactions is a critical aspect of financial management, so looking your advice, best practices, and any insights on how to achieve an automated and accurate matching of these entries.

Your expertise in this area would be greatly appreciated.

Warm regards,

Vivek Ghulaxe

[sanilbhandari]

Hi

It would have helped if you could have provided a bit more context, as to how you do bank reconciliation today and how your stores are set up in terms of org structure.

In one of my project few years ago for an apparel retailer with stores in multiple cities in India, we had followed done quite a bit of changes and optimized:

1. The customer had multiple banks and an arrangement was entered into with a single bank, where the statements from multiple banks were pooled together and sent as a single statement in multicash format

2. The stores had multiple card machines from different providers (POS Machines), each with unique identification number. The customer had agreed with the pooling bank to have the POS Machine No filled in the statement. We had created a search string so that we could capture the payments to a specific store. There was a custom logic table built in so that we do not have to open a search string everytime, a new store opened.

3. We made extensive use of search string to automate as many entries as possible in EBS

These are some of the ways, we implemented EBS. However, there could be other ways as well to further streamline the processes.

Thanks & Regards

Sanil Bhandari