Account Determination in SAP: Learn important account by Manish Patel

By Manish Patel

This booklet is a transparent and functional necessities advisor that teaches you ways to configure account selection in SAP ERP. You’ll know about a number of the account decision recommendations in each one part for producing normal Ledger postings, together with AR/AP, tax transactions, financial institution transactions, human capital administration, and fabrics administration. The paintings presents step by step directions on easy methods to configure account selection, and during this re-creation, each one bankruptcy offers real-world examples, enterprise approaches and eventualities, beneficial screenshots, and functional tips on how to assist you comprehend and grasp account decision. If you’re liable for enforcing the account selection performance, this can be your one-stop, must-have guide.

Highlights:

  • Account decision techniques
  • General Ledger transactions
  • Accounts Receivable/Accounts Payable transactions
  • Tax transactions
  • Bank transactions
  • Asset transactions
  • Travel rate transactions
  • Sales and purchasing
  • Inventory transactions
  • Payroll transactions
  • Technical references
  • Tips and tricks

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Extra resources for Account Determination in SAP: Learn important account determination techniques

Example text

The bottom part of the figure shows 52 Summary the configuration activity in which actual GL accounts are assigned to relatively simple combinations of chart of accounts and account symbols. These characteristic combinations used in GL account assignment give you considerable flexibility in implementing complex GL account determinations for complex accrual processes. Configuration for extended account determination is carried out under Financial Accounting IMG • General Ledger Accounting • Business Transactions • Manual Accruals • Accrual/Deferral Posting • Account Determination • Extended Account Determination.

In the figure, the exchange rate key corresponds to different currencies; however, it can refer to any user-defined criterion. 3 Foreign Currency Ending Balance Accounts In this case, GL account determination is fairly simple. At the time of the currency valuation, any loss or gain due to the exchange rate difference is posted to the Expense account (10) or E/R gains account (11), respectively. If your business uses rolling valuation methodology, SAP ERP uses GL accounts Expense account—rolling valuation (12) and Revenue account—rolling valuation (13) to post exchange rate loss or gain, respectively.

For example, a goods receipt posted in Inventory Management creates a GL entry to debit an inventory and credit a clearing account. Similarly, an expense report posted in Accounts Payable (AP) creates a GL entry to debit a travel expense account and credit a payables account. As part of month-end processing, quarter-end processing, or year-end processing (collectively called period-end processing), you must carry out several activities in the GL component of SAP ERP to prepare financial statements that are in statutory compliance and reflect the state of the business as accurately as possible.

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