7 Replies Latest reply: Aug 9, 2011 8:11 AM by raja sekhar RSS

Bank keys and house bank creation

Meena Goyal
Currently Being Moderated

Hi

 

My company have 9 branches all over India. HO of my organization is in Bombay.

Now every branch have bank account in respective city. 5 are Current account and 5 are Cash Credit account. But all these bank accounts are in one bank only say Bank ABC...

 

So how many bank key and house bank should be created? I am confused. I tried reading documentation on bank key and housebank, but my confusion is still there.

  • Re: Bank keys and house bank creation
    Atif Farooq
    Currently Being Moderated

    Dear:

               We have the same scenario , we have 14 branches all our the country and and one ban for them. The key is to open Bank key (FI01)for every House Bank created (FI12)and then latter assign them account IDs for every House bank as and when required. Revert back in case of any confusion.

    Regards

  • Re: Bank keys and house bank creation
    Milind Sonalkar
    Currently Being Moderated

    Hi,

     

    Here you can create a single house bank and in that  separate bank accounts with the account ID as per the respective bank account id.

     

    Regards

     

    Milind Sonalkar

    • Re: Bank keys and house bank creation
      Gaurav Aggarwal
      Currently Being Moderated

      Hi,

       

      The number of house banks depends on the branches of the bank.

      You need to open a separate house bank for each bank's branch. For this, create a bank key for the bank branch in FI01 and then assign this bank key into the house bank in FI12 (Or directly create the bank key in Fi12 also)

       

      Then within this bank's branch, if you hold more than one account then create seperate account ID for each account in that house bank.

       

      Separate house bank for each branch helps in the faster processing of bank interfaces for payment and receipt, because then it will use the correct SWIFT code etc for that branch assigned to bank key in house bank.

       

      Regards,

      Gaurav

  • Re: Bank keys and house bank creation
    raja sekhar
    Currently Being Moderated

    HI Meenu_ND,

     

    No doubt at all, if you have 9 branches in a single city with the same bank also you have to create 9 House Banks. 

     

    If Each Branch having different accounts, like Saving Account or Current Account then you have to create as a Account ID. 

     

    I hope lot of threds are there in the SDN.  Check before posting, that will give you more clearity.

     

    Regards

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