GL;CLEARING;REVERSALS

 General Ledger Accounting (FI-GL)  PurposeThe central task of G/L accounting is to provide a comprehensive picture for external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.FeatThe SAP FI General Ledger has the following features:

• Free choice of level: corporate group or company

• Automatic and simultaneous posting of all sub-ledger items in the appropriate general ledger accounts (reconciliation accounts)

• Simultaneous updating of general ledger and cost accounting areas

• Real-time evaluation of and reporting on current accounting data, in the form of account displays, financial statements with different financial statement versions and additional analyses.

Essentially, the general ledger serves as a complete record of all business transactions. It is the centralized, up-to-date reference for the rendering of accounts. Actual individual transactions can be checked at any time in realtime processing by displaying the original documents, line items, and transaction figures at various levels such as:

• Account information

• Journals

• Totals/transaction figures

• Balance sheet/profit and loss evaluations

 Cost of Sales Accounting  PurposeThe profit and loss statement of an organization can be created according to two different procedures:

• Period accounting

• Cost of sales accounting

Cost of sales accounting compares the sales revenue for a given accounting period with the manufacturing costs of the deducted activity. The expenses are allocated to the commercial functional areas (production, sales and distribution, administration, and so on). Expenses and revenues that cannot be assigned to the functional areas are reported in further profit and loss items, sorted according to expense and revenue type.
With this type of grouping, cost of sales accounting identifies where costs originate in a company. It identifies the economic reason for a particular expense.
Implementation Considerations
Before you can run cost of sales accounting, you have to make various settings in Customizing. For moreinformation, see
Activating Cost of Sales Accounting.

You make these settings in Customizing for Financial Accounting, under Financial Accounting Global Settings ®Company Code ® Cost of Sales Accounting.

 Clearing  

You make these settings in Customizing for Financial Accounting, under Financial Accounting Global Settings ®Company Code ® Cost of Sales Accounting.
 Clearing  Purpose
The SAP System offers the following procedures for accounts with
open item management:

Posting with clearing

 Manual account clearing 

Integration
In one clearing transaction, you can process several accounts, different account types (G/L account, customer, vendor), and accounts from several company codes.
Features
The clearing program carries out automatic clearing within the SAP System. However, all prerequisites for clearingopen items in the SAP System must be fulfilled.
Customer and vendor accounts are always managed on an open item basis. For G/L accounts, however, you have to set the open item management option in their master record yourself. Open item management is recommended for the following G/L accounts:

• Check clearing accounts (bank clearing accounts)

• Goods receipt/invoice receipt. (See the Materials Management documentation in the SAP Library for more information on these accounts.)

• Payroll clearing accounts. (See the Personnel Administration and Payroll documentation in the SAP Library for more information on these accounts.)

During clearing, the system enters a clearing document number and the clearing date in these items. In this way, invoices in a vendor account are indicated as paid, and items in a bank clearing account are indicated as cleared.
Constraints
The program does not clear special G/L transactions, or post any new documents. It therefore does not clear items if additional postings would be required.

You have posted a vendor invoice. This item could be cleared with a credit memo. At the time of clearing, cash discount would have to be posted. Therefore, the clearing program cannot clear the item.
Items that require an additional posting are, for example:

• Items that contain cash discount. Cash discount would have to be posted for these items.

• Items that were posted using the net procedure. Cash discount clearing would have to be posted for these items.

• Items that would require a withholding tax posting.

A posting would also be required if the items balance to zero in document currency, but not in the local currency or parallel currency (group or global company currency, and so on). Clearing could not be carried out in this case either.

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 Posting (FI)  
Purpose
Using this standard accounting function, you can enter business transactions in the general ledger and subledgers. In doing so, you create
documents and save the data to the database. Features
As well as the standard transaction for posting documents, the system also offers you the following options:

Recurring Entries

Posting with Sample Documents

You can also carry out cross-company code functions and reversals.
The system carries out consistency checks before saving the data. If errors exist, the data is not saved, and the system proposes adjustments.
Integration
If you use other SAP components as well as Financial Accounting, the saved data is passed, for example, toControlling (CO) or Sales and Distribution (SD) and updated.
See also:

Posting Business Transactions in General Ledger Accounting

Posting Business Transactions in Accounts Receivable

Posting Business Transactions in Accounts Payable

  Reversal  Purpose
If you have entered an incorrect document, you can reverse it, thereby also clearing the open items.
A document can only be reversed if:

• It contains no cleared items

• It contains only customer, vendor, and G/L account items

• It was posted with Financial Accounting

• All entered values (such as business area, cost center, and tax code) are still valid

If a line item from a source document has been cleared, a reversal can only be carried out after the clearing is reset. Information on clearing is available in FI General LedgerAccounting as well as FI Accounts Receivable and Accounts Payable.
Integration
Documents from SD can be reversed with a credit memo. Documents from MM must be reversed with functions in that component because the reversal function in FI does not reverse all the values required. For more information on reversals in SD and MM, see the documentation for those applications.
Features
There are two ways of updating transaction figures when reversing a document:

• The document and the reverse document increase the account transaction debit and credit figures by the same amount.

• After a document has been reversed, the balance of the account affected is shown as if the document had never been posted. (

Negative Postings) 
Constraints
You generally post the reversal document in the same posting period as the corresponding original document. If the posting period of the source document has already been closed, you have to enter a date that falls in an open posting period (for example, the current one) in the Posting date field.

You make these settings in Customizing for Financial Accounting, under Financial Accounting Global Settings ®Company Code ® Cost of Sales Accounting.

 Clearing  

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