journal entries for all the configurations in FI/CO

[Former Member]

I am getting trouble to understand the journal entries(about debit and credit) in FI/CO. let me know some of the journal entries whatever u know..Thanks in Advance

[Former Member]

i got the answer which helped me a lot..Thanks for all..

[Former Member]

The following are the some of the entries which are passed in SAP FI

Vendor Invoice - Non PO Based

Dr Expense A/C

Cr Vendor A/C

When GR is Created - PO Based

Dr Inventory A/C

CR GR IR A/C

When Invoice is Posted - PO Based

Dr GR IR A/C

Cr Vendor A/C

Vendor Payment Run (Both PO Based and Non PO Based)

Dr Vendor A/C

Cr Bank Clearing A/C

FI - SD Integration Entries

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PGI done (Goods issue)

DR Cost of Goods Sold

CR Inventory Account

Billing document released to Accounting

Dr Customer A/C

Cr Sales Revenue A/C

Payment Received

Dr Bank Clearing A/C

Cr Customer A/C

Hope this is clarifies your Journal Entries in FI

[Former Member]

Answers are little bit helpful..I think i didnt asked you my question properly..My question is the Journal entries for all the modules of FI/CO.(recent times, i got a question about the process back on the lockbox configuration conceptually not like technically)

[Former Member]

Hi Venkat,

The Document type and posting key would decide what sort of posting is going to be made. For example you give document type 'KR' then its a vendor invoice document. You would have to credit the vendor giving a posting key value of 31 to the vendor (credit) and 40 to your purchases (debit).

Please do get back in case of further queries.

[Former Member]

Hi

This is Chandu

While u enter any transactions by using FB01,if a transaction is relevant to gl means which r not related to customers/vendors/assets transactions u select SA for that jtransaction and in SAP normally to debit the line item we give p key 40 and cr the line item we give 50.

Ex for gl transactions:-

salaries paid

The entry is:-

salaries a/c dr 40

cash/bank a/c 50

so gl transactions means which r not included any subledger like customer/vendor/assets related transactions.

So for those gl transactions we use document type SA while we enter any postings related to those.

for example administration expenses,personnel expenses and all office expenses related transactions will considered as gl transactions.

[Former Member]

Hi

when you post a document in Finance, system produces two or more journal entries in a document to the related accounts. A document will have debit as well as credit journal entries. When the debit and credit amounts are equal, the document is balanced and ready for posting.

the debit and credit transactions will be produced based on the nature of transactions involved. According to accounting principle, the following thump rules would be helpful (1) Debit the receiver and credit the giver (2) Debit the expenses and losses & credit the income and profits (3) Debit what comes in and credit what goes out (asset related transactions).

for example if you post a bill for electricity expenses through a bank account, the electricity expenses is debited (debit the expenses) & bank account is credited (what goes out-asset).

Regards

[Former Member]

Hi,

Debit and Credit in SAP FI are driven by document type and posting key.

Document types are used for different transactions across the system. It controls the account type to which one can post, number ranges and document header fields.

Posting key determines the debit or credit for account type (Vendor, Customer, Asset or GL)

Document type "SA" for example allows to post entries between two GL accounts.

Following are the steps to post a journal entry:

1) Go to T-code FB01

2) Select document type as "SA"

3) After filing up the Company code details and posting dates in header, choose posting key 40 to post to debit of expense account and posting key 50 to post to expense provision account.

Thanks,

Sreeni.

[Former Member]

Hi Sreeni

I am SD back ground can you please clear me this doubt.

According to SAP

To ensure that business transactions are constantly maintained correctly, you post them to G/L accounts in General Ledger Accounting. With the posting, the system generates a document, saves the data in the database, and provides the data for the update.

So document will be genarated by SAP, I didn't under stand again by selecting document SA what do you post -?

According to me documet SA will be genarated by the system when you post to accounts -?

Thanks

Kris

[Former Member]

Hi,

SA is document type, not a document...... System identifies the FI documents posted by unique document number / co code / fiscal year combination and stores in BKPF and BSEG tables.

Thanks,