Manual Bank Subaccount Clearing 1:N – Profit Center Assignment within NEW GL

Hello guys,

What is the common practice to do Manual Bank Subaccount Clearing for Vendors outgoing payments? My main concern is Profit Center Assignment within New GL.

The business process is:

1. Payment Program (F110) creates multiple JEs to Bank Subaccount with different Profit Centers inherited from Vendor’s Invoices

JE #1 (GL View)

Debit:   Vendor_1               Profit_Center_1    $400

Credit:  Bank Clearing GL   Profit_Center_1     $400

JE #2 (GL View)

Debit:   Vendor_2               Profit_Center_2     $600

Credit:  Bank Clearing GL   Profit_Center_2      $600

1. When the payment is showing on Bank Statement in a lump amount, a posting with clearing should be done to make an entry on the Main Bank Account and to clear Bank Subaccount (F-04).

Credit: Main Bank GL   Profit_Center_?????  $1,000

Debit:  Bank Clearing GL   Profit_Center_1      $ 400 (PC assigned automatically by the system within the clearing)

Debit:  Bank Clearing GL   Profit_Center_2      $ 600  (PC assigned automatically by the system within the clearing)

If Profit Center is not filled manually in Main Bank GL account line -> the system issues “Balancing field “Profit Center” in line item 001 not field”

Please share your experience whether a user makes multiple entries to Main Bank GL as a number of Profit Centers in ACH Clearing GL, or a Dummy Profit Center is used….

Thank you in advance