Customer Vendor Asset Posting

8/12/2019 Customer Vendor Asset Posting

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Transaction Data

Customer, Vendor and Asset Posting

Contents• Ledgers:

– General ledger

– Accounts Receivable

– Accounts Payable

• Document Clearing:

– Manual Clearing

– Automatic Clearing

– Resetting Cleared Items

• Asset Accounting:

– Asset Acquisition

– Document Types

– Transaction Types

– Asset Retirement

– Depreciation

The Ledgers

CustomersCustomers VendorsVendors

AssetsAssets

GeneralGeneral

ledger ledger

General Ledger

• Posts all accounting entries

• Provides financial reports like P&L and Balance Sheets for companyand business area

CustomersCustomers VendorsVendors

GeneralGeneralledger ledger

Accounts Receivable

• You post accounting data for customers in Accounts Receivable.

• When you post data in Accounts Receivable, the system creates a

document and passes the data entered to the general ledger.

• General ledger accounts are then updated according to the transaction

concerned

• The system carries out consistency checks before saving the data.When the debits equal the credits, and the data is complete, post the

document. If errors exist, the data is not saved, and the system

proposes adjustments.

• The system updates the document file and the G/L account balances.

Accounts Receivable – Invoice Posting

Steps:

• Select the type of business transaction required (Invoice).

• Enter the required header data

• Also on the first screen, enter the posting key and the customer account

number of the first line item

• On the next screen, enter the data for the first line item.

• You need to enter at least one customer line item and one G/L account

line item.

• When the debits equal the credits and the data is complete , post thedocument.

Accounts Payable

• You post accounting data for Vendors in Accounts Payable.

• When you post data in Accounts Payable, the system creates a

document and passes the data entered to the general ledger

• General ledger accounts are then updated according to the transaction

concerned

• Payables are paid with the payment program. Payables are paid with

the payment program.

• The payment program supports all standard payment methods as wellas electronic form

Accounts Payable – Invoice Posting

• Select the type of business transaction required (Invoice).

• Enter the required document header data.

• Enter the posting key and the vendor account number of the first line

• Enter the data for the first line item.

• You need to enter at least one vendor line item and one G/L account

line item.

• When the debits equal the credits, and the data is complete, post thedocument.

Document Clearing

Open Items - Clearing

• Open items are incomplete transactions, such as a vendor invoice

which has not been paid. In order for an open item transaction to be

considered complete, the transaction must have been cleared.

• A clearing transaction always creates a clearing document.

• Only Balance Sheet Items are Open Item managed

Document Clearing

An example of posting with clearing :

• An invoice posted to a customer's account.

• This invoice is regarded as an open item because at this point it isunpaid.

• The customer pays the invoice and the payment is allocated to it.

• The invoice is cleared with the payment and the resulting balance iszero.

An example of account clearing:

• Manually clearing an open invoice with a related credit memo andpayment on account

Document Clearing

Clearing

Posting With Clearing Account Clearing

Manual Automatic Manual Automatic

Automatic Payment Program Automatic Clearing

Manual Clearing

A “manual payment” is a transaction that clears an open item, typically an

invoice, by manually allocating an offsetting amount to the open item.

An “incoming payment”, typically used in Accounts Receivable, clears anopen debit amount.

An “outgoing payment”, typically used in Accounts Payable , clears an open

credit amount.

A manual payment is processed in three steps:

1. Document header information is filled out.

2. Open items are selected to be cleared.

3. The transaction is saved.

Manual Clearing

Automatic Clearing

Automatic Postings when clearing

• If necessary, the system performs certain automatic postings whenclearing open items .

• For example : Bank charges may be entered when entering the bank

item and are automatically posted to an assigned G/L-account.

Resetting Cleared Items

• Users can cancel clearing transactions for individual documents.

• When the user reset cleared items, the clearing data is removed fromthe line items.

• The changes are logged and can be displayed in changed documents.In A/R, the payment history and the credit limit will be corrected, ifapplicable.

Resetting Cleared Items

Question Time!!

1. A clearing transaction always creates a ___________

2. What are the two types of Clearing?

3. A clearing transaction always creates a clearing document.

• True

• False

Answers

1. Clearing Document

2. Account Clearing and Posting with Clearing

3. True

Asset Accounting

The integration of the subsidiary ledgers with the general ledger is as

important as the integration of accounting and logistics functions.

Every transaction in customer and vendor accounts in Accounts Payable and Accounts Receivable and in the asset accounts has a direct effect on the

corresponding accounts of the general ledgers.

Thus the subsidiary ledgers are always in balance with their G/L

reconciliation accounts.

The G/L reconciliation accounts need to be set up in advance together with

the Fixed Assets department.

Asset Accounting

Asset Acquisition

• The primary business process in asset accounting is the purchase of assetsand/or the capitalization of in-house produced goods or services.

• Two Types of Acquisitions:

– Assets under Construction - acquisitions to fixed assets that are notpermitted to be capitalized and depreciated immediately.

– Direct Capitalization - asset acquisitions that are capitalized and begindepreciation immediately.

• The following information is automatically set in the asset master record atthe time of the first acquisition posting:

- Capitalization date of the asset (derived from asset value date)

- Date of initial acquisition on the asset master record (derived from assetvalue date)

- Acquisition year and acquisition period (derived from posting date)

Example:

FI Document Number

Document Type

Transaction Types

• Transaction types are used with every posting. They identifyacquisitions, retirements and transfers.

• The asset history sheet reports and other FI-AA reports use thetransaction type to identify the different kinds of transactions anddisplay them separately

• You can define your own transaction types. They can be used to

separate various types of accounting or business transactions inreports.

Transaction Types

Transaction Type Groups

Asset Retirement

Depreciation

• In addition to the automatic calculation of depreciation using depreciationkeys, you can also plan manual depreciation for individual assets in the

FI-AA component.

• When you enter the transaction type, the system recognizes that you

want to perform manual depreciation

• After you have manually planned depreciation, the system does not yet

create an FI document.

• This document is not generated until the depreciation posting program is

Question Time!!

1. Name the Two Types of Acquisitions.

2. Every transaction type belongs to a _______________

3. The transaction type groups are fixed and cannot be changed but you

can define your own transaction types

• True

• False

Answers

1. Assets Under Construction and Direct Capitalization

2. Transaction Type Group

3. True

Down Payments

• Down payments are used for short or medium-term financing.

• Down payments are generally made before production begins or after

partial completion.

• A Receivable or Payable results from the delivery of a tangible asset or

the performance of a service.

• Down payments must not be balanced with other receivables or

payables and must be displayed separately on the balance sheet.

• On the balance sheet, down payments made are displayed on the

assets side and down payments received on the liabilities side.

Down Payments

• Down payments made are further divided, depending on whether they

– Down payments on tangible fixed assets

– Down payments on intangible fixed assets

– Down payments on inventory stocks

– General down payments.

• Once we have received the goods or services for which we made a

down payment, we need to clear this payment for the final settlement

either manually or using the payment program

Down Payments

• You can enter down payments manually or have the payment program

post them.

• Down payments are posted to separate special G/L accounts (down

payment accounts) depending on the down payment type

• When you enter a down payment, the system offers the following

support:

– Add, correct, or copy one or more line items

– Display an overview of all line items entered to date

– Automatically add down payment items in accordance with down

payment requests

Customer Vendor Asset Posting

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