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Clearing Account Setup

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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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