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Important Accounting Entries

OCT

13

2014

Depreciation Dep A/C To Accumulated Dep A/C ————————————— Sales Customer A/C To Sales A/C Sales Return (Credit Memo) Sales Return A/C (Whatever Come In) To Customer A/C ————————————— Purchase Purchase A/C To Vendor A/C Purchase Return (Debit Memo) Vendor A/C To Purchase Return AC (Whatever Goes Out) ————————————— Posting Key 01 Customer Debit Posting Key ...

Important Posting Keys

OCT

13

2014

1-19 Customer 20-39 Vendor 40 & 50 GL 70 Debit Asset 75 Credit Asset Posting key Name Credit /Debit Account type 21 Credit memo Debit Vendor 22 Reverse invoice Debit Vendor 24 Other receivables Debit Vendor 25 Outgoing payment Debit Vendor 26 Payment difference Debit Vendor 27 Clearing Debit Vendor 28 Payment clearing Debit Vendor ...

GENERAL LEDGER ACCOUNTING

AUG

5

2014

There are Two types of data. Master data: The data which is permanent in existences called master data.There cord which contains the master data is called master record.The master data is again and again used during processing. This data is often shared by the different functional areas, processes and system modules. For example:- customer and ...

ACCOUNTS PAYABLE

AUG

4

2014

• This component is used to record and process the business transactions with vendors • We can design balance confirmation, account statement and other form of report suit to the business requirements. Vendor Master Record: • For every account we should create master record which controls how the business transactions are processed • Specifications made ...

Posting of Outgoing Payment – T.Code – F-53

AUG

3

2014

This function allows you to post a vendor payment manually and clear the open item(s). Most of the outstanding invoices will be paid by payment program (F110), but it may happen that for some rarely used bank accounts this program will not be configured. In such cases payment for vendor documents will be done manually ...

PART PAYMENTS

AUG

2

2014

There are Two methods to deal with the Part Payments in SAP. They are 1. Partial payment method 2. Residual payment method Partial payment method: under this method the system displays both the amount of the invoice and part Payments made as open items. When the total of the part payments made is equal to ...

Reversals

AUG

1

2014

The reversal function is used to reverse the error documents. There are five types of reversals in SAP. 1. Individual reversals: this function is used to reverse a single document only at a time. When the document is reversed, the system reverses the posting keys only. 2. Reverse of reversal: this function is used to ...

House Bank

JUL

29

2014

• Banking organizations or bank branches are called house banks in SAP. • The accounts maintained at house banks are called account IDs. • We have to maintain a G/L account master record for each account ID and assign that account ID in house bank master record. Configuration Step 1: Creation of G/L A/c – ...

AUTOMATIC PAYMENT PROGRAM – FBZP

JUL

29

2014

Using this program we can configure the system to print the cheques, payment advices and payment summary for the due invoices of the due vendors. For example we are having 1000 vendors and 200 vendors have become due as on the date of executing the program 1000 Vendors ↓ 200 Vendors have become due as ...

Hold documents

JUL

28

2014

It is the activity of keeping the documents pending for posting due to want of information .When the information necessary to post the document is not completely available we hold the document.The held documents do not update any G/L Accounts.When the required information is available we can retrieve the held document and give the information ...

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Parking of a Document

JUL

28

2014

It is the activity of keeping the documents pending for posting due to want of authorization.The need for parking arises due to the operation of tolerance group for employees . The documents are parked by he junior level employees and authorized by the senior level employees.The parked documents do no update any G/L accounts.The G/L ...

Reversals

JUL

25

2014

The reversal function is used to reverse the error documents. There are five types of reversals in sap. Individual reversals:  This function is used to reverse a single document only at a time. When the document is reversed, the system reverses the posting keys only. Reverse of reversal: this function is used to reverse a ...

Accrual /Deferral Documents

JUL

24

2014

In every business transaction there are two aspects. Service Aspect Payment Aspect If the service aspect happens first and then the   payment aspect, it is called accrual business transaction. Example: out standing expenses (expenses payable) and out standing incomes (incomes receivable). If the payment aspect happens first and then the service aspect then it is ...

Interest Calculations

JUL

18

2014

Interest calculation types:there are three interest calculation types in Sap. 1. Balance interest calculation.This type issued to calculate interest on G/L account balances. For Example on term loans.This type is denoted as ‘S’ in the System 2. Item interest calculation.This type issued to calculate the interest on vendor/customer account balances.This type is denoted as ‘P’in ...

Foreign Currency Postings

JUL

16

2014

Translation ration for currency translation: it is the relation between the minimum units of two currencies in the commercial usage for the conversion purpose. For any pair of currency the translation ration is always 1:1. but for the Japanese Yen the relation is always 1:100 Foreign exchange quotations: there are two types of quotation which ...

Recurring Documents

JUL

14

2014

There are some business transactions which occur regularly at fixed intervals. Examples are rent payment; payment of term loan installment and payment of vehicle loan installment. In order to post this type of transactions we can use this recurring document functionality. To use the recurring documents two conditions are to be satisfied.. 1. The day ...

Sample Documents

JUL

12

2014

 This is the special type of document. This issued to post the business transactions which occur frequently everyday.Using the sample document we can reduce the posting burden on the users.The sample document is template for original / accounting document.Sample documents do not update any transaction figures.We have to define a special number range for sample ...

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