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  • Accounting Entries in SAP FICO

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    This document outlines various accounting entries in SAP FICO (Financial Accounting and Controlling) for different transaction types including: - Goods receipt entries that debit the goods receipt account and credit clearing accounts - Service entry postings that debit an expense account and credit a clearing account - Invoice verification entries that debit clearing accounts and credit accounts payable/receivable - Vendor payment entries that debit accounts payable and credit bank accounts - Foreign vendor payments, outgoing/incoming checks, direct deposits, bank charges, and advance payments to vendors/customers which all involve debiting/crediting bank and clearing accounts.

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    This document outlines various accounting entries in SAP FICO (Financial Accounting and Controlling) for different transaction types including: - Goods receipt entries that debit the goods receipt account and credit clearing accounts - Service entry postings that debit an expense account and credit a clearing account - Invoice verification entries that debit clearing accounts and credit accounts payable/receivable - Vendor payment entries that debit accounts payable and credit bank accounts - Foreign vendor payments, outgoing/incoming checks, direct deposits, bank charges, and advance payments to vendors/customers which all involve debiting/crediting bank and clearing accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    179 views4 pages

    Accounting Entries in SAP FICO

    Uploaded by

    PranavPatel
    This document outlines various accounting entries in SAP FICO (Financial Accounting and Controlling) for different transaction types including: - Goods receipt entries that debit the goods receipt account and credit clearing accounts - Service entry postings that debit an expense account and credit a clearing account - Invoice verification entries that debit clearing accounts and credit accounts payable/receivable - Vendor payment entries that debit accounts payable and credit bank accounts - Foreign vendor payments, outgoing/incoming checks, direct deposits, bank charges, and advance payments to vendors/customers which all involve debiting/crediting bank and clearing accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Accounting Entries in SAP FICO |

    FICO SAP Accounting Postings


    Accounting Entries in SAP FICO
    Complete SAP FICO accounting entries at the different transaction
    levels. Refer to below for the complete process flow of debit and
    credit entries at different transactions. It is recommended to refer to
    and learn the accounting entries at different transactions process.

     Goods Receipt Accounting Entries ( MIGO )

    GRIN Goods Receipt SAP Accounting Entries


    Particulars Debit   Credit 
    Goods Receipt / Inventory A/C DR  –
              GR/IR Clearing A/C  –  CR
              Freight Clearing A/C  – CR
             Other Expense Payable A/C  – CR

    Service entry Accounting Entries (  ML81N )

    Service Entry SAP Accounting Entries


    Particulars Debit Credit
     Expense A/C  DR  –
          GR/IR Clearing A/C  –   CR

    Invoice Verification SAP  Accounting Entries ( MIRO )

    Invoice Verification Accounting Entries


    Particulars    Debit   Credit 
    GR/IR Clearing Account  DR  –
    :
    Freight Clearing Account  DR –
    Cenvat Input Clearing Account  DR –
    VAT Receivable Account  DR –
    Custom Duty Clearing Account  DR  
    Vendor Account (Accounts Payable) – CR

    Vendor Payments SAP Accounting Entries

    Vendor Payments Accounting Entries


    Particulars    Debit   Credit 
    Vendor Account (Accounts Payable) DR –
    Bank Account Account – CR

    Foreign Vendor Payments SAP Accounting Entries  – ( F-53 )

    Foreign Vendor Payments Accounting Entries


    Particulars    Debit   Credit 
    Vendor Account (Accounts Payable) DR –
    Bank Account Account – CR
    Exchange Rate Difference Account ( Loss ) DR –
    Exchange Rate Difference Account ( Gain) – CR

    Outgoing Checks SAP Accounting Entries  – FF67

    Outgoing Checks Accounting Entries


    Particulars Debit Credit
    Outgoing Checks Account DR –
    Bank Account – CR
    :
    Incoming Checks SAP Accounting Entries  – FF67

    Incoming Checks Accounting Entries


    Particulars    Debit   Credit 
    Bank Account DR –
    Incoming Checks Account – CR

    Direct Deposit in Bank SAP Accounting Entries  – FF67

    Direct Deposit in Bank Accounting Entries


    Particulars Debit   Credit 
    Bank Account DR –
    BRS   Account – CR

    Bank Charges SAP Accounting Entries  – FF67

    Bank Charges Accounting Entries


    Particulars    Debit   Credit 
    Bank Charges Account DR –
    Bank Account – CR

      Advance Payment to Vendors ( Down Payment DP ) – F-48

    Advance payment to vendors Accounting Entries


    Particulars    Debit   Credit 
    Advance payment vendor ( Vendor Account ) DR –
    Bank Account – CR

          

      Advance Receipt from Customers  Accounting Entries  – F-29


    :
    Advance Receipt from Customers Accounting Entries
    Particulars Debit Credit
    Bank Account DR –
    Advance Payment from Customer ( Customer A/C ) – CR

    Important Interview Questions

    1. What are the accounting entries of Vendors’ outgoing


    payments?
    2. What are the accounting entries of customer incoming
    payments?
    3. What are the important accounting entries of BRS?
    :

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