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How robust is SAP's bank statement auto reconciliation program?

How robust is SAP's bank statement auto reconciliation program?


SAP can accept numerous bank statement formats, including BAI and MT940. SAP's import/reconciliation program is able to clear items automatically from the general ledger as well as the customer and vendor subledger using standard algorithms which look at amounts, value dates, invoice information, bank reference numbers or check numbers. SAP has also recently enhanced the process by providing extra configuration tables which can search the note to payee (remittance text) information in the bank statement to re-route specific transactions such as bank fees or other transactions which do not have corresponding items to clear in your system. This new functionality also allows you to attach controlling objects like cost centers or profit centers to the posting. These enhancements were made to increase the hit rates of incoming items on the bank statement because, in most cases, automatic clearing for outgoing items on your statements will be 90-95% since the whole outbound process is controlled by the system.
 

This was first published in October 2003

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