1. Objective and Scope

1.1. Objective of this Operation

The objective of this procedure is to explain how to prepare and post the bank movements from the various banking accounts.

The movements includes payments (Tax, Social Security, Vendors not assign to CICC), Cash Collection (receivables not assign to CICC) and Cash Pooling.

1.2. Scope

This procedure is applied for the following companies:

• 0270: Solvay Chimica Italia
• 0279: Solvay SA
• 5835: Solvay Speciality Polymers Italia
• 6277: Solvay Energy IT
• 6306: COGEN Spinetta 
• 6328: COGEN Rosignano
• 8090: SOLVAY SOLUTIONS IT

2. Definitions

See Finance Glossary:

• CAM
• CICC

3. Tasks description

3.1. Periodicity

Banking movements have to be post in accounting on a daily basis.
At D1 all the movements of the month should be post, transitory accounts cleared and bank reconciliation finalized.
 

3.2. I list the bank accounts open for the Italian entities

It is important to remind that Italian entities have open bank accounts in the following banks: 

Update: Dec. 2022

For the login information go to the following link.

3.3. I perform the allocations of bank Intesa Sanpaolo

Intesa Sanpaolo S.p.A. is an Italian international banking group. In their platform InBiz we find the majority of active banks and bank accounts in the different banks for all Italian companies, so we will be able to access daily movements through this platform for INTESA SANPAOLO SPA, BANCA MONTE DEI PASCHI DI SIENA S.P.A., DEUTSCHE BANK SPA ...

To Login, insert your credentials User ID / PIN Code and press ENTER.

A second validation will be required by using a token device. 

Follow the instructions and insert OTP code provided by token.   

Once you enter in the main page of the homebaking you can change language from/to ENG/IT (at your preference).

You will find it on the right of the screen right below your credentials (see highlighted in yellow):               

3.3.1. I access the Intesa bank statements 

On top of the page you can make a selection by company to simplify or select all entities: 

To retrieve the daily movements, at the left go to Products → Accounting Information → Current Accounts

    Select “Number of account entries”

 And as a last step choose the respective bank account and the period: 

 Afterwards you can extract in excel or generate a pdf file by selecting: 

3.2.2. I perform the bank postings in SAP

The majority of the payments/receivables are to/from recurrent operations/vendors/customers. 

Analyze each movement to understand the movements by:

 - Using SAP transaction FBL3N and checking the Bank G/L Account (50XXXX), look at all the bank movements of the previous months to check if there is a movement containing the same description or reference.

 - Using SAP transaction FBL3N, look at all the bank movements of the previous months to check if there is a movement with the same amount.

Or, if reading the description you realize that the movement is the payment of a vendor,

• Using SAP transaction FBL1N, check if a vendor with the same name is existing and if the related open item is present. You can also check the transaction ITINVOICE where all electronic invoices received are listed to find the correspondent invoice.

Or, if reading the description you realize that the movement is the cash collection of a customer,

• Using SAP transaction FBL5N, check if a customer with the same name is existing and if the related open item is present, there is always reference to the customer name or invoice number paid. In case you need support you can always enter in contact with CCT team that will help you to allocate the amount received properly. 

Commissions posting scheme

There is a clear set of accounts created to ensure the allocation of the expense by its nature. 

For this reason we must ensure that the allocations (if not automatic) should be done as follows:

50        50xxxxxxxx

    40        using...

List of cost centers to use:

• 0270 - 
• 0279 - 
• 5835 - 
• 6277 - 
• 6306 - 
• 6328 - 
• 8090 - 

Bank guarantee (fidejussioni) posting scheme

Some bank guarantees are owned by the entities and in the case of 0279 Solvay SA that acts on behalf of other entities (5835/0270/8090/Rhodia Operations/Inovyn), we need to relocate to the respective entities. To simplify the procedure there is a quarterly invoice being issued to the partners. 

Accounting scheme:

    50 BS bank account 5XXXX

       40 P/L Account  in PF1   6510090000        98546220        

Cost Center                    
5835    B746000000                
0270    XR46000000                
6277    4X46000000                
8090       8090-8000  

For 0279 SOLVAY SA ITALY the booking process is based on a database that are in constant update, whenever new guarantees are issued - Bank Guarantee List.

The approved accounting scheme is: 

50 BS bank account 5XXXXXXXX

   40 BS account 2220000000 adding in the text/assignment the partner company to invoice.

At the end of the month, there is a check to ensure that the guarantees owned by 0279 are allocated to PL should be performed to account 6510090000 with cost center YU46000000.
For the partners an invoice will be issued every quarter end of March/June/September/December.

For Invoicing the companies you can take request ID 802295 as reference, sending our colleagues all the detail and amount in their predefined template.

Intercompany team will receive the data and perform an FI posting like:                

50  BS Account    2220000000                
  40 P/L Account    7510090000        WBS selected according to partner        
Tax Code    K2                

After they will settle that WBS and issue the invoice.                 
                   
In the receiver company we will need to find the following allocation:         
Account in PF1 6510090000 and in WP1 98546220.        
Cost Center                    
5835    B746000000                
0270    XR46000000                
6277    4X46000000                
8090       8090-8000        
                    

How to recognize a bank guarantee in your statements?

It is written in the text "Fidejussione" or "FID.XXXX" or in the fifth column with the code "ZP - Commissioni e Spese su fideiussioni" as below:

For F24 movements, use file “Posting banche 24”. Go to the home banking Intesa for detail. For each company there’s a sheet.

In the sheet there’s several code or a group of codes (found in the home banking) that will be link to an account (for new codes contact local).

 In homebanking:

Go to Products → Payments → F24 payment

Select tab Past Records and Outcomes:

Select tab Show all, select company and date.

In the end check if the posting key reflects the movement made in the bank.

• IMPORTO DEBITO-50
• IMPORTO CREDITO - 40 

Attached the image to the shared folder.

3.4. BNL - Banca Nazionale del Lavoro (Gruppo BNP Paribas)

For these bank accounts the items are posted automatically in SAP and we only need to perform the final allocation.

• Enter in https://myhub.bnl.it/ and have your token ready to retrieve the 2nd code.
• For the credentials access go to link.
• Insert credentials in fields USER, PASSWORD and Station Data and press NEXT.

• Insert OTP code generated in the token and press NEXT.

Once connected the following screen appear:

3.4.1. I access the BNL bank statements 

If you need to see the movements of the statement, go to MENU, then click on Doc. Online

Then choose the Company Name from the drop-down menu:

Choose Current Accounts

then Bank Statement in Document type menu.

Select the data you want to export and click on the icon to download the statement you need:

The system will download the .pdf file:

3.4.2. I access the BNL F24 form

For checking the detail of the F24 form go to MENU tab, then F24.

select STATUSES tab

Then company in code in Ordering party, date in MORE FILTERS.

If there's a file, it means we can download the F24 Model for archive

However, you can always see the content of the Model and the detail of what was paid if we press on a line of an specific F24:

and then on the section EXCISE DUTIES/MONOPOLIES to see the Tax codes and the related amounts

To download the document click on

3.3. I perform the Bank postings

 In the case of the Intesa bank accounts, the upload to SAP is done manually, the cash pooling only post those movements, all others movements need to be posted manually and each movement analyzed.

 In the case of the BNL bank accounts, the ulpload to SAP is done automatically and we have to check the transitory accounts for open items. We can also see the movements in transaction FEBA (PF1) + FEBAN (WP1).

505DGEUR72
505DHEUR72
505DGEUR76
505DHEUR76
505CGEUR72
505GEUR76
505CHEUR72
505CHEUR76

505CFEUR72

505CFEUR76

2740000000

3.3.1. FEBA/FEBAN Transaction

Insert company code and Statement date. System will then show all the movements for all accounts by day.

By clicking in one amount, we can see the detail of that movement.

F24

To perform the postings Codice tributo has the correspond code of the F24 and you will find the allocations in the database:

3.4. I perform the checks

In the end of the month and after the posting of the cash pooling, all the accounts must be balanced.

1) In FBL3N, choose the account related to the bank account and check if its balanced. If not, find the reason for the unbalanced.

On D+2, if some movements aren’t done for missing feedback from locals, post the remaining movements on account 2740000000.

Once a week sent an information email (for all companies) to the locals, with the doubts, provide by company the number of doubts.

2) Monthly check: check whether balance in SAP is matching with the bank statement.

I know the specifics and recurrences of bank postings

3.5. I perform the bank reconciliations

Follow instruction in the template BANK_RECONCILIATIONS PROCEDURE 

https://drive.google.com/drive/u/0/folders/1_zOhqncXGANBzlX6LMGSAExe8BM6Hkjd

End of document.