Bank Gaurantees are normally two stage transactions i.e
- When you receive the Bank Gaurantee
- When you receive the payment for which it was issued
The configuration for Bank Gaurantee can be done using the T Code FBKP.
You need to assign the GL accounts for the Special GL Indicator "G".In tis process you can do it for Customers or Vendors.
It is a GL Account Assignment to the Reconcilliation Account that is being assined the Customer or Vendor master.
When ever a Bank Gaurantee is received then we enter the data as Noted item.And the amount would be shown as a open item in the Bank Gaurantee GL account.
When the amount is received then in the entry screen for the amount received we also select the Special GL indicator G so that the Open Item gets cleared.
By doing so it would be possible to arrive at the list of the Gaurantees open at any point of time.
The steps are as follows :
1.T Code FBKP for GL Account Assignment to the Reconcilliation Account
2.T.Code F-49 for entering the Bank Gaurantee received as Noted Item.
3.T Code F-28 for Gurantee received from the Customer for the sales invoice. In the first screen in the Open Item Selection segment provide "G" as the Specil GL indicator after providing the Customer No.
The the system would automatically clear the Gaurantee along with the invoice amount.
We will not receive the BG from Customer nor pay to the Vendor. as Security there will be Deposit in our bank account.
the Entry for the same will be
DR FDR with Bank for BG.( % of the BG as deposit (asset)
DR Bank Charges.( % of BG, will be expense)
CR Bank CC A/c ( CC already allot for the client)
In case of delivery fullfillment with customer or after the fixed term the entry will be
Cr FDR with Bank for BG
Cr Intrest Chages ( Income on the Deposit)
Dr Bank cc A/c.
That is go good
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