PLA account and cash withdraw

[Former Member]

1.Help me to understand what is PLA account and how it is used in SAP B1.

2.How can I record the transction of Cash withdrawal from bank.

3. which option should I use when the cash amount transferd to Petty cash.

[former_member583013]

Hello Isayah,

Correct !! You will use the Retained Earnings Account (from the Equity bucket) in the Peroid End Closing Window.

Best wishes

Suda

[former_member583013]

The Journal Entry for Cash Withdrawel would be

Petty Cash Account Dr

Checking / your main bank A/c Cr

Profit and Loss Account is also called the Income Statement.

The definition goes like

"An Income Statement, also called a Profit and Loss Statement (P&L), is a financial statement for companies that indicates how Revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into net income (the result after all revenues and expenses have been accounted for, also known as the "bottom line"). The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported."

Suda

[Former Member]

Dear Suda/ Jimmy

Thanx for your quick reply.

As per my understanding from your reply, I have to give this in the period end closing window retained account field. pls confirm my understanding is correct.

[former_member186095]

Hi Isayah,

I am sure the problem is close to solve now since you said about retain earning accounts.

Period end closing account is used as a clearing account to the PLA and to the retained earning accounts. So, using retained accounts is solution for you to store PLA for financial period that you want to close e.g. period 2004.

Rgds,

[former_member186095]

Hello,

1. PLA account is profit and lost account that will store in the drawer revenue, cost of sales, expenditure etc. The drawers beside assets, liabilities and equities. You use GL account determination to set them in order to make it available in the AR sales or AP Purchase documents. Another places are warehouse setup or item group setup.

2. If you want to record cash withdrawal from bank, you just simply use journal entry

3. Still using journal entry

Are you using SAP B1 indian localisation ?

Rgds,