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 Post of bank movements extracted of the Home Banking Accounts. The movements inclues: payments (Tax, Social Security, Vendors not assign to CICC), Cash Collection (receivables not assign to CICC) and Cash Pooling. 

1.2. Scope

This OP procedure is applied for the following companies:

:

• 5835: Solvay Speciality Polymers Italia
• 62776428: Solvay Energy IT
• 6306: COGEN Spinetta 
• 6328: COGEN Rosignano

• Syensqo SA 
• 8090: SOLVAY SOLUTIONS IT

2. Definitions

See Finance Glossary:

• Add if necessaryCAM

• CICC

3. Tasks description

3.1. Periodicity

Extractions and Postings:

Outside closure: Every Monday, Wednesday and Friday 

Inside closure: from D-4 ill D+1 where all the movements of the month should be posted.

Checks: (to be performed after the Cash pooling)

Inside closure: from D-4 ill D+1 where Banking movements have to be post in accounting on a daily basis.
At D1 all the movements of the month should be postedpost, transitory accounts cleared and bank reconciliation finalized.
 

3.2.

Connect to web site:

http://www.inbiz.intesasanpaolo.com/scriptFvcv0/vetrinaFVC/#/en/home/home/homeCentral.jsp

User name/CODICE UTENTE: CRYDPHOE

Password: Specialist assigned Link.

Insert your credentials on right upper corner:         

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Click on “Current Account”

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Select “Number of account entries”.

Choose the respective bank account and the period.

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Click on Search.

Extract in excel to update bank reconciliation and in case of need the pdf.

3.3. Cash Pooling

3.3.1.  Extraction from Homebanking

From Inbiz Website we are able to extract specific TXT file for automatic postings of cash pooling, commissions and bank guarantee (fideiussioni)

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Click on new flows download:

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Insert the company: SOLVAY CHIMICA ITALIA SPA - 70671 ( ONLY WITH THIS CODE IS CORRECT)

Insert the date from when you want to extract the movements.

Download and save it. 

3.3.2.   Upload of cash pooling on SAP

Cash pooling movements are posted in automatic way using the SAP Transaction below:

Z1F_IT_ZIFRIPBA_SPI  

Run transaction and call variant *0270* as below:

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And choose the correct one:

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Automatically, the variant will fill all the fields as shown:

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Note: copy the output file name. It will be need in next transaction.

Run transaction and select the file extracted previous on Inbiz Homebanking.

The output will be:

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After, go to transaction Z1F_IT_ZIFMI004 

Z1F_IT_ZIFMI004

Enter transaction, paste the “output file name” copied on previous transaction and run:

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SM35

Afterwards, go to transaction SM35, select the session name “MICxxxxBCA”, where the xxxx is the company code.

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Tip: if possible run in foreground to control if the amounts are the ones in the bank statement.

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As mentioned before, all movements of cash pooling, commissions and bank guarantee (fideiussioni) will be booked.

3.3.2.1. Cash Pooling   

This transaction is replicating, with opposite sign, all movements in Open items in bank account 

(50xxxEURxx) and post it a G0 document with this scheme:

50 or 40          50xxxEURxx (bank account)

40 or 50          591eurXXX( company code ) 

3.3.2.1. Commissions

As cash pooling, the posting made by the system will post with opposite sign the open items registered in bank account with a G0 document type:

50        50xxxEURxxx

40        6590900000

List of cost centers to use:

. 0270 - XR800CPFIN

. 0279 - YU88000001

. 5835 - B780008045

. 6277 - 4XDGF

. 6306 - 4UFGF00001

. 6328 - 5G32326900

Note: could happen that for some companies, the system gives an error message for wrong tax code L8. For solve this, change the existing one to UQ.

3.3.2.3. Bank Guarantee (FIDEIUSSIONI)

As the previous one, bank guarantee will also be post with opposite sign as shown on bank statement with G0 document type.

How to recognize a bank guarantee in your statements?

Is in the fifth column with the code "ZP - Commissioni e Spese su fideiussioni" as below:

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To know in which company to input the guarantee, there is in the bank description a number with 6 digits to help us.

With this number, go to the database of “Bank guarantees” and the information will be available.

https://docs.google.com/spreadsheets/d/1ESLU0Sx49NTpfRpu-1qC7gu7XRghj5BR2uOTuP3jL5g/edit#gid=293206722

Note: If the bank guarantee isn’t on the database, please request to FtO and afterwards include it on the file.

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Or

50        50xxxEUR20

40   7590000000 (if it’s external company)

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.

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

Follow the instructions and insert OTP code provided by token.   

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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):               

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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: 

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

 Image Added   Select “Number of account entries”Image Added

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

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

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:

In this case, we need afterwards to create (in most of the cases) a CROCO invoice.

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After, there is the need to create a SW document (Croco invoice) to reflect the amount in the other company.

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Exception: in case of an order as below, a SW document doesn’t has to be made.

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3.4. Issues handling

It can happen that the description of the movement is not recognized by the database because the description is absent. In this case you can follow one of the following step:

- Using SAP transaction FBL3N and checking the Bank G/L Account (50XXXEURXX50XXXX), look at all the bank movements of the previous year, 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 year, 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

If you are not able to find any other movement that, in one way or another is related to an old posting, copy the line in the Google document, so that the locals may inform which the correct account to be use.

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...

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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 PF2   6510090000        98546220        

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

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:

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For F24 movements, use file “Posting banche 24”(see Appendix). 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

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Select tab Past Records and Outcomes:

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Select tab Show all, select company and date.

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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.

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

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Once connected the following screen appear:

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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

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

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Choose Current Accounts

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then Bank Statement in Document type menu.

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

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The system will download the .pdf file:

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.4.2. I access the BNL F24 form

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

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select STATUSES tab

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

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

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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:

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

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To download the document click on Image Added

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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

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

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

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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 poolingspooling, 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 BANKtemplate BANK_RECONCILIATIONS PROCEDURE (see appendix) PROCEDURE 

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

End of document.