Account Clearing in SAP is a favourite pastime of SAP Finance users.  This pertains to the act of managing and clearing Open Items in SAP – across open item managed GL accounts, Customers and Vendors. Open item management in SAP is its way of “reconciling” the items on your accounts. Once you have cleared the items, their status in SAP is changed to a Cleared Item. In simple reconciliation terms, “Open” represents unreconciled and “Cleared” represents Reconciled.

As an Accountant or SAP Finance user, you want to clear your Open Items. Therefore, Account Clearing in SAP is an important function. Small volumes of open items represent well maintained, easy to reconcile accounts. This pertains to account such as:

·        Open Item managed General Ledger (GL) Accounts. Balances on your GL accounts should be made up of legitimate reconciling items that can be justified and reviewed at month end. Large volumes of open items only serve to hide items requiring follow up, as well as potentially hiding write offs.

·        Customer Accounts. If your customer open items are not well maintained, it not only results in a cluttered statement sent each month but can lead to additional queries and time consuming investigations which can ultimately hold up payments.

As a result, managing your Account Clearing in SAP is an important daily function that needs to be performed. Having an automated tool, such as BEST GL Clearing to assist you manage this, can be a huge time and effort saving for SAP businesses.

How does BEST GL Clearing assist manage my Account Clearing in SAP?

BEST GL Clearing allows for the following to be performed and automated in SAP:

·        Large volumes of open items can be quickly selected and cleared across all account types.

·        Large volumes of open items can be quickly selected and cleared across company codes.

·        References (i.e. Assignment values) can be modified to ensure higher matching rates (e.g. strip out leading zeros or special characters.)

·        Match items based on references maintained in different SAP fields (e.g. match an assignment values of one document to the Header Reference of another.)

·        Apply different clearing criteria to identify matches within the same set of data.

·        Management Reporting to manage your clearing volumes and method of Account Clearing in SAP

 The benefits of automated clearing are numerous, and the BEST GL Clearing module unlocks a host of Clearing possibilities which can now be automated to ensure:

·        Accurate account balances,

·        Reduced time spent manually clearing items, and

·        Higher and more accurate matches achieved through programmatic matching

 As a result, BEST GL Clearing can dramatically assist your FI users to manage their Account Clearing in SAP and to free up their time to focus their energies on those items that really require it.   

Find out more about the BEST GL Clearing module here.