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Accounting Entry (FI)

The document provides examples of accounting entries for various financial transactions including vendor payments, customer receipts, asset accounting, tax accounting, and inventory transactions. It covers the basic double entry accounting for expenses, revenues, payables, receivables, bank transactions, and inventory. Special general ledger transactions are also described for vendors, customers, taxes, and asset transfers between company codes.

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Manoj Pradhan
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132 views9 pages

Accounting Entry (FI)

The document provides examples of accounting entries for various financial transactions including vendor payments, customer receipts, asset accounting, tax accounting, and inventory transactions. It covers the basic double entry accounting for expenses, revenues, payables, receivables, bank transactions, and inventory. Special general ledger transactions are also described for vendors, customers, taxes, and asset transfers between company codes.

Uploaded by

Manoj Pradhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Document posting (FB50) or (F-02)

Ex:- Salary A/c Dr. XXX

To Salary payable A/c XXX

Document posting (FB60) or (F-43)

Expenses A/c Dr. XXX

To Vendor A/c XXX

Vendor credit memo (FB65) or (F-41)

Vendor A/c Dr. XXX

To Expenses A/c XXX

Vendor payment (F-53)

Vendor A/c Dr. XXX

To Bank A/c XXX

1. Discount entry

Vendor A/c Dr. 10000

To Discount Recvd 10000

To Cash A/c 90000

Vendor Special G/L Transaction:-

1. Down payment request (F-47):-

No Accounting Entry

2. Advance payment to Vendor (F-48):-

Vendor A/c Dr. (Adv. to vendor) 60000

To Bank A/c 60000

3. Vendor Invoice posting (FB60):-

Expenses A/c Dr. 100000

To Vendor A/c 100000

4. Transfer from special G/L to Normal G/L (F-54):-

Vendor A/c Dr. (Sundry creditor) 60000

To Vendor A/c Dr. (Adv. to Vendor) 60000

5. Transfer from normal G/L to special G/L (F-51):-


Vendor A/c Dr. (Sundry creditor) 10000
To Vendor A/c (Retainsion money) 10000
6. Vendor balance payment (F-53):-

Vendor A/c Dr. (Sundry creditor) 30000


To Bank A/c 30000
7. Retaintion money payment (F-53):-

Vendor A/c Dr. (Ret. Money) 10000

To Bank A/c 10000

Bank Transaction with BRS Entry:-

1. Payment:-

Vendor A/c Dr. XXX

To Bank OG A/c XXX

BRS:-

Bank OG A/c Dr. XXX

To Bank Main A/c XXX

2. Receipt:-

Bank IC A/c Dr. XXX

To Customer A/c XXX

BRS:-

Bank Main A/c Dr. XXX

To Bank IC A/c XXX

3. Bank Transfer:-

Bank OG A/c Dr. XXX

To Bank BT A/c XXX

BRS:-

Bank BT A/c Dr. XXX

To Bank Main A/c XXX


Withholding Tax or TDS:-

1. Vendor advance payment (F-48):-

Vendor A/c Dr. 60000

To TDS Payable A/c 600

To Bank OG A/c 59400

2. Vendor Invoice posting (FB60):-

Expenses A/c Dr. 100000

To TDS Payable A/c 2000

To Vendor A/c 98000

3. Transfer of Special GL to Normal GL (F-54):-

4. Payment of TDS (J1INMIS):-

TDS Payable A/c Dr. 2000

To Bank OG A/c 2000

Service Tax:-

1. Post Vendor document with service tax (FB60):-

Expenses A/c Dr. 100000

Input S T – Basic 12000

Input S T – Ecess 240

Input S T – SHE 120

To Vendor A/c 112360

2. Post Vendor invoice with TDS and Service Tax (FB60):-


Expenses A/c Dr. 88999.64
Input S T – Basic 10679.96
Input S T – Ecess 213.60
Input S T – SHE 106.80
To Vendor A/c 99000
To TDS Payable 1000

FI-MM Integration:-

1. When PO is created :-
—- No Entry —–

2. When GR is posted:-

Inventory Account Dr (Transaction Key BSX in OBYC) XXX


To GR/IR account (T.Key WRX in T-code OBYC) XXX

3. When Invoice is posted:-

GR/IR account Dr. XXX


To Vendor account Cr. XXX

4. Payment made to Vendor:-

Vendor A/c Dr XXX


To Bank A/c Cr. XXX

Service Procurement:-

1. Service Entry sheet (ML81N):-

Service charges A/c Dr. XXX

To SR/IR A/c XXX

2. Invoice receipt (MIRO):-

SR/IR A/c Dr. XXX

To Vendor A/c XXX

Goods Transport Agency:-

Transportation Exp. A/c Dr. 100000

Input S. Tax- Basic A/c Dr. 3000

Input S. Tax-ECS A/c Dr. 60

Input S. Tax-SHE A/c Dr. 30

To Vendor A/c 100000

To GTA S. Tax- Basic A/c 3000

To GTA S. Tax- ECS A/c 60

To GTA S. Tax- SHE A/c 30


Customer Document Posting (FB70) or (F-22)

Customer A/c Dr. XXX

To Revenue A/c XXX

Customer Credit memo (FB75) or (F-27)

Revenue A/c Dr. XXX

To Customer A/c XXX

Incoming payment from customer:-

Bank IC A/c Dr. XXX

To Customer A/c XXX

Sometimes Vendor may be a customer:-

Vendor Invoice – 75000

Customer Invoice- 100000

Payment Entry:-

Bank IC A/c Dr. 25000

Vendor Vs. Customer A/c 75000

To Customer Vs. Vendor 100000

Customer Special GL:-

1. Customer Down payment request (F-37):-

No Accounting Entry

2. Customer down payment (Adv. Receipt) (F-29):-

Bank IC A/c Dr. 4000

To Customer A/c 4000

3. Transfer from special GL to special GL (Adv. receipt to Security deposit) (F-30):-

Adv. from Customer A/c Dr. 5000

To Security deposit A/c 5000

4. Post customer invoice (FB70) :-

Customer A/c Dr. 100000

To Revenue A/c 100000


5. Transfer from Normal GL to Special GL (Inv. Amount to Ret. Money) (F-30):-

Ret. Money- customer A/c Dr. 10000

To S. Debtor-Dom A/c 10000

6. Customer balance receipt (Incoming payment) (F-28):-

Bank IC A/c Dr. 50000

Customer A/c Dr. 10000

To Customer A/c 60000

7. Receive Ret. Money from customer (F-28):-

Bank IC A/c Dr. 10000

To Ret. Money – Customer A/c 10000

Service tax of Customer:-

Post customer invoice with S. Tax (FB70)

Customer A/c Dr. 112360

To Revenue A/c 100000

To Output S. Tax- Basic 12000

To Output S. Tax- Ecess 240

To Output S. Tax-SHE 120

Tax collected at source:-

1. Post customer invoice with TCS (FB70):-

Customer A/c Dr. 100000

TCS offsetting A/c Dr. 1000

To Scrape sales A/c 100000

To TCS Payable A/c 1000

2. Transfer TCS offset amounts to Customer (F-30):-

Customer A/c Dr. 1000

To TCS Offsetting A/c 1000


FI-SD Integration:-

1. Initial stock upload (MB1C):-

Inventory trading goods A/c Dr. XXX

To Initial stock upload A/c XXX

2. Sales Order (VA01):-

No Accounting Entry

3. Post Goods issue (VL01N):-

Cost of goods sold A/c Dr. XXX

To Inv. Trading goods A/c XXX

4. Billing document (VF01):-

Customer A/c Dr. XXX

To Sales revenue A/c XXX

5. Incoming payment from customer (F-28):-

Bank IC A/c Dr. XXX

To Customer A/c XXX

Asset Accounting:-

1. Asset Acquisition (F-90):-

Asset A/c Dr. XXX


To Vendor A/c XXX

2. Depreciation Posting (AFAB):-

Depreciation A/c Dr. XXX

To Accum. Depreciation A/c XXX

3. Asset retirement with revenue (F-92):-


When the asset sold is cleared against the customer invoice

Customer A/c Dr. XXX

To Asset sale clearing A/c XXX


At the time of payment,

Dr. Bank Incoming A/c

Cr. Customer A/c

When asset is sold

Asset sale clearing A/c Dr. XXX

Accum. Depreciation A/c Dr. XXX

Loss on sale of asset A/c Dr. XXX

To Asset A/c XXX

To Profit on Sale of Asset A/c (if applicable) XXX

4. Asset retirement by scrapping (ABAVN):-

Loss due to scrape A/c Dr. XXX

Accum. Depreciation A/c Dr. XXX

To Asset A/c XXX

5. Asset transfer within company code (ABUMN):-

Accum. Depreciation A/c Dr. XXX (Bus. Ar.-A)

To Accum. Depreciation A/c Dr. XXX (Bus. Ar.--B)

Asset A/c Dr. XXX (Bus. Ar.--A)

To Asset A/c XXX (Bus. Ar.--B)

6. ABT1N------> InterCompany Asset Transfer

OLD Company Code 75 OLD Business Area Asset A/C Credit


OLD Company Code 70 OLD Business Area Acc. Dep Debit
OLD Company Code 40 OLD Business Area Asset sale A/C Debit
NEW Company Code 70 NEW Business Area Asset A/C Debit
NEW Company Code 50 NEW Business Area InterCompanyClearing Credit

Extra Accounting Entry:-

1. Goods issue to Production:-

Raw material consumption A/c Dr. XXX

To Inventory Raw material A/c XXX

2. When finished goods comes from factory after manufacture:-

Inventory finished goods A/c Dr. XXX

To Cost of goods manufactured A/c XXX

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