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SAP FICO Accounting Entries Guide

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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1K views4 pages

SAP FICO Accounting Entries Guide

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.

Uploaded by

PranavPatel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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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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