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Hi
What is the difference between House Bank and Bank Account.
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Answer Posted / hannah
Hi,
A House Bank is a combination of a Bank and a Branch.
Account id is the account number. A house bank can have
multiple account IDs..
General Ledger accounts have to be created for each account
ID in the house bank. Bank Account Master data will be
maintained by the Finance Department centrally.
Each house bank and account ID combination shall have one
main general ledger account and several sub accounts mainly
based on broad transaction types. These sub accounts are
necessary to facilitate automatic bank reconciliation
process in R/3 system.
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