How to Use Workflow to Streamline and Control Bank Account Management Processes in SAP S/4HANA Finance

  • by Gaurav Aggarwal, Lead Consultant, SAP S/4HANA Finance, Infosys Limited
  • April 3, 2017
In the wake of globalization of business, enterprise organizations need to continuously expand their operations. This expansion generates a need to have bank holdings in various countries to support the daily operations of payments and collections. SAP S4/HANA Finance for cash management has a component named Bank Account Management to centrally manage bank accounts. Bank account processes such as opening and closing involve multiple steps and need various approvals. These processes can be now be managed via workflows in SAP S/4HANA Finance in a streamlined way.
Learning Objectives

Reading this article, you’ll learn:

  • What and where to configure to implement workflows in Bank Account Management
  • How to process a bank account workflow
  • Process steps using SAP Fiori applications
Key Concept
Managing bank accounts has become a user activity in SAP S/4HANA Finance for cash management instead of a traditional configurational activity in a classical SAP ERP Central Component (ECC) system, where it used to be defined in the development system and transported up to production. This makes it more important than ever to control the bank account management process so that it has proper details backed up by relevant authority and a harmonized structure. SAP provides workflow capability in Bank Account Management in which various users can assume different roles to request, create, change, and approve the bank accounts.

How do you manage bank accounts in the SAP ERP Central Component (ECC) system? If you want to create a house bank or account ID, you first must configure it in the development system and then it travels through a test or a quality system to reach the production environment. Moreover, business users need to depend on the IT team, which might not be aware of how a bank account will be used. SAP S/4HANA Finance has reimagined this process and given full control to business users for bank account management. I walk you through the standard SAP workflow provided for bank account management and show how to configure and use those settings to streamline your banking structure. Let’s first see the structure of this offering in SAP S/4HANA Finance.

Note
SAP S/4HANA Finance for cash management is a separate license and does not come with standard SAP S/4HANA (i.e., the digital core). For bank account management processes, SAP has given two options to customers. The first option is full-fledged Bank Account Management, which is part of this separate license of SAP S4/HANA Finance for cash management. The second option is Bank Account Management Lite, which comes pre-installed along with SAP S/4HANA Finance (i.e., no separate license). The workflow functionality explained in this article is supported only in the full-fledged Bank Account Management and not in Bank Account Management Lite. There are other differences between the lite version and full-fledged version, as detailed in SAP Note 2165520 (https://launchpad.support.sap.com/#/notes/2165520).

I also focus on the settings needed for workflow in Bank Account Management and do not cover any other basic settings needed in the system, such as the type of bank accounts and the HR organizational hierarchy.

Further, SAP Fiori is a mandatory component for using the Bank Account Management workflow process. SAP Fiori comes with the SAP S/4HANA license, so it has to be installed by your Basis team before you can start using the features explained in this article.

Overview of Standard SAP S/4HANA Bank Account Management Workflows

Figure 1 shows the overview of a standard SAP workflow template, WS74300043, which is the main workflow for Bank Account Management. Based on the user activity (opening, modifying, and closing), the related sub-workflow is triggered.


Figure 1
Overview of standard SAP workflow for Bank Account Management

Configuration to Activate Bank Account Management Workflows

To activate standard workflows in SAP S/4HANA Finance for cash management, you first need to activate the business function FIN_FSCM_CLM. To complete this step, execute transaction code SFW5 and select the check box for this line, as shown in Figure 2. After FIN_FSCM_CLM is activated, the cash management component in your system is enabled. (This activation is indicated by the following message: Business func. will remain activated.)


Figure 2
Activate business function FIN_FSCM_CLM

Gaurav Aggarwal

Gaurav Aggarwal is SAP S/4HANA lead consultant at Infosys Limited. He has more than 14 years of experience, including 11 years in SAP Finance. He has expertise in both SAP FI and Controlling (CO) with integration to other modules in manufacturing and process industries. He is a chartered accountant and SAP Certified Financial Consultant. He holds a bachelor’s degree in commerce and is a techno-functional expert with thorough knowledge of the necessary ABAP for functional experts. He is a veteran in G/L, AR, AP, banking, FA, Travel Management, and closing cockpit and has handled greenfield implementation, upgrades and conversions, rollouts, and support projects. 

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