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Explain what is bank sub account? This represents the bank outgoing number from which payment
has to be made. You have to enter here the number of outgoing account,
so when you run APP this account is utilised for the payment if its house
bank is used for payment.
It is the standard SAP design meant for Bank Reconciliation Process. Main Bank account is entered in the House Bank Master Data. Subaccount is entered in FBZP so when payment is made
through APP then account entered here is credited. When person responsible
processes the Bank Reconciliation then this account is debited and Main
Account is credited.
Sub accounts are mainly used in banking transactions. Let us take an example of Lockbox collections. In this scenario, Bank collects the cash from Customers and credits to the main Bank accounts. The accounts in the books will be: 1. To record the cash receipt: Bank Account Dr. Bank Clearing Account Cr. (this is a sub account) 2. To post the credit to Customer account: Bank clearing Account Dr. Customer Account Cr. There may be instances where the Customers are not identified when posting, however the receipt of cash has to be posted. Hence, the first entry is posted to a clearing account and subsequently the amount is transferred to the Customer account. Ideally, the clearing account should have zero balance. Similarly, sub accounts can be used for Vendor payments.
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