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Re: external bank statement not posting to ihc

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Godhelp,

 

Need to know --

 

1.Type of collection-- checks collection, ACH collection? If checks, do you use lockbox accounts?

 

2. What is your bank statement format: BAI, MT940? How are receipts showing up on your bank statement-- do you have a separate total credit amount for each subsidiary? Example--

  • $20 million subsidiary A
  • $30 million subsidiary B

 

Since you are using central collection account for multiple subsidiaries, you will need "unique" identifier in the "payment notes" along with each credit to help identify the correct current account and subsidiary in IHCC. This "unique and repeated" identifier is mapped with current account in configuration under "central cash receipt / incoming payment" node in IMG.

 

See below example

 

Bank statement shows credit of $10,000 and "TW02TWD" identifier in payment notes. This unique identifier shows up in the payment notes everytime cash is received from the customer for company code TW02. You need to work with the external bank to ensure this information is provided with each credit.

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In IMG, under "central cash receipts" this TW02TWD identifier is mapped to current account TW02US02TWD-01.

 

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Also mapped is Bank code 275 on the bank statement with IHCC transaction type.

 

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Please go through these settings and let me know if you have further questions.

 

Regards

Amit


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