Account
Assignment Model?
‘Account Assignment Model’ is a ‘reference method’ used
in document entry when the same distribution of amounts to several Company
Codes, cost centers, accounts, etc., is frequently used.
Instead of manually distributing the amount among accounts or Company Codes,
you may use equivalence numbers for distributing both the
credit and debit amounts. A cross-Company Code account assignment model can
also be created.
The account assignment
model may contain any number of GL accounts. The GL account items need not be
complete. The model can be used across
several Company Codes, and can even include
Company Codes from non-SAP systems. You
can use the account assignment model while ‘parking’ a document (but you cannot
use a ‘reference document’ for ‘parking’).
The
use of account assignment models is limited to GL
accounts.
Unlike a ‘Sample
Document,’ an account assignment model may be incomplete and can be
completed during document entry by adding or deleting or changing the data
already saved in the model.
What
are the Month End Closing Activities in Finance?
1. Recurring Documents.
a) Create Recurring documents
b) Create Batch Input for
Posting Recurring Documents
c) Run the Batch Input
Session
2. Posting Accruals or Provisions entries at
month end
3. Managing the GR/IR Account-Run the GR/Ir Automatic Clearing
4. Foreign Currency Open Item Revaluation-Revalue Open Items in
AR.AP
5. Maintain Exchange Rates
6. Run Balance Sheets –Run
Financial Statement Version
7. Reclassify Payables and
Receivables if necessary
8. Run the Depreciation
Calculation
9. Fiscal Year Change of
Asset Accounting if it is year end
10. Run the Bank
Reconciliation
11. Open Next
Accounting Period
Follow the steps
Step1
After posting the down payment amount you have to clear the down payment amount $25 against the Invoice .the transaction code is F-54.
Step2
Now go to transaction code f-44 and put the vendor code and go to the residual clearing tab and residually clears against $25 against $100.
what you have to do ...you select all the line items and the deselect . again you select/activate line items of $25 and $100 and in the next box (line item$100) double click ......see automatically $75 will appear.....simulate and post.
Now you go to F110 ....run the proposal......you can see the line items of $75 to be paid and it will be seen as a credit balance.
Step1
After posting the down payment amount you have to clear the down payment amount $25 against the Invoice .the transaction code is F-54.
Step2
Now go to transaction code f-44 and put the vendor code and go to the residual clearing tab and residually clears against $25 against $100.
what you have to do ...you select all the line items and the deselect . again you select/activate line items of $25 and $100 and in the next box (line item$100) double click ......see automatically $75 will appear.....simulate and post.
Now you go to F110 ....run the proposal......you can see the line items of $75 to be paid and it will be seen as a credit balance.
You need to use a down payment request to a vendor. This will create a noted item in the vendor, which you need to include with the APP. This will post the advance to the vendor as a special G/L transaction.
There are two steps to make an advance payment to a vendor:
1.Create a down payment request through T-code F-47.
2.in FBZP for All Company Code do not foreget to put F (down payment request) and down payment Sp. GL you want to perform payment for.
2.Post the down payment through T-code F110 (APP). The system will pay for all down payment requests by check or bank transfer
line item display and
open item management in vendor account are always preset for every vendor
account
The logic behind the use of special periods is to identify and have
control over transactions after the closing of normal posting periods.
Management adjustments
rectification entries by auditors
Management adjustments
rectification entries by auditors
In transaction code OB52
click on new entries and maintain an interval or a single GL code for the
account type S with the posting period variant. If the GL codes are not in
sequence then you need to maintain further entries for the posting period
variant and account type S
If we select the “relevant to
cash flow” check box it will determain that the GL account is related to Cash
receipt account / cash disbursement account and the same can use to
make out going payment through either cash or bank.And it can usefull while
making cash flow statements.
If you are using Cash
Management and Cash Concentration functionality in Treasury module
then this field has great importance.You will select this field for cash and
bank accounts because all movements in these accounts have cash flow
relevancey.
The following accounts
are typically defined as cash flow accounts:
- bank account
- account for bank charges
- check clearing account
- Clearing account for incoming payments
- bank account
- account for bank charges
- check clearing account
- Clearing account for incoming payments
If you don't select this field for the bank account which you use for making down payment, withholding tax will not be calculated.
We can post the vendor
document in F-43 and it allows to make outgoing payment entry through F-53 also
But we can’t run the manual check number from the register It will through the error message "the particular document no is not a payment document
But we can’t run the manual check number from the register It will through the error message "the particular document no is not a payment document
Ans)Customers with whom
you transact business have to pay their dues
eventually. Generally the due date on which the customers have to settle the
dues is stipulated in the terms of
payment agreed into with them.
Now one of the three
logical events can happen:
1) Customers pay on the
due date specified:
They pay the entire
value of money for which you have supplied
materials and / rendered services. Not a bad
situation at all.....
you can meet your financial commitments as planned since you have received
prompt
payment ....
2) Customers pay ahead
of the due date specified:
This is a better
situation for you..... Your money comes ahead of your original plan and you can
be safe about
meeting your financial
commitments as planned ......Therefore, You waive off a small part of the dues
owed by your customers since your working capital is not hampered.
3)What a mess things are
in this business world !. You had promised money to your creditors assuming
that your
customers would pay
promptly and that is not happening. This
is a Domino effect commencing with your customers which you are forced to pass
on to your vendors..... That is not one bit good !!!!. You must do something to
prevent recurrence of such an
uncomfortable situation !
What are the corrective
measures which you intend to take?
SAP calls it as DUNNING.
As a first step, you
need to identify which of your customers
have not paid their dues promptly . You need to
remind each one of such
customers about the non-payment and insist that the dues are settled
immediately. This is done through letter correspondences ( indicating break up
of dues owed by the customers). Some
deaf customers who do not heed your letters need to be reminded often ( that is
periodically , each time the letter sounding a little sterner than the earlier
one.
The second optional step
would be to levy penal charges for the defaulted payment in
the following manner:
1. Levy of interest for
nonpayment / belated payment
2. Levy of incidental
charges incurred with regard to dunning ( the process of
dunning is going to cost you by
way of follow up,dunning
and printing costs, maintenance of additonal
records,additional labor incurred by way of wages
to dunning clerks
etc...)
Customers who are tone
deaf even after repeated reminders would be handled through
a legal process.
This is the process of
dunning.
Generally, each time you
dun a customer you are crossing one level of dunning.
Though you can dun upto a maximum
of nine times , you would
normally resort to legal help after dunning three or four
times, at the most. The number of
dunning levels you need
can be configured and theoretically it ranges from 0 to 9
levels ( 0 if your company is run by
an inefficient
management which does not bother to collect money on time and 9 if your management is too liberal with
your customers !).
I trust this gives you a
basic understanding of what dunning is and what the
dunning levels are.....
1) Check whether the
document type (DR) and no. ranges have given
or not?
2) Create customer
account and sales account for sales invoice posting
3) Assign the
reconciliation account(sundry debtor) to sub ledger customer
account.
4)Check the posting
period is open or not for AR & G/L
5)check no.ranges
assigned to document types RV and KA
6)tolerance group
7)check the recon a/c
and sales a/c in FS00 because it might be a
chance of blocked from
posting ..
Account Currency
indicates the currency in which this Account is held.
When creating a G/L account, you must define the currency in which the account
is to be kept.
This defines the following:
·
The currency used
for postings made to this account
·
The currency in which
transaction figures are updated and the account
balance is displayed
You specify the account
currency in the company code area of the G/L account master data. This allows
you to keep the G/L account in the local currency of each company
code.
This is especially useful for international groups that have all subsidiaries use the same chart of accounts but with the accounts kept in the local currency.
This is especially useful for international groups that have all subsidiaries use the same chart of accounts but with the accounts kept in the local currency.
Features
When setting the account currency, you have two options available:
When setting the account currency, you have two options available:
·
If we Enter the local currency of
your company code.
The system automatically uses the local
currency that you defined when creating the company code as the default
value. This allows posting to the G/L account in any currency.
When you make a posting in
a foreign currency, the amount is translated into the
local currency. For more information, see
Posting
a Document in a Foreign Currency.
The transaction figures are kept as follows:
The transaction figures are kept as follows:
·
In the local currency,
that is, the total of all the amounts posted in the local currency
·
In the individual
currencies, that is, the total of all the amounts posted in various currencies.
If the Currency is other than
Company Code Currency then, User can only post items into this
Account in which the Account is mentioned. The transaction figures and
the account balance are kept in the foreign currency entered
and in the local currency.
Scenario: If you have bank account
in US wherein only USD currency is posted, so your business does not want to
post any other currency so you will put USD in this field.
Balances in Local
Currency’ Only
It means the balances are updated only
in local currency when users posts to this Account.
even if the document posted
in foreign currency. In FS10N or FAGLB03, you will not be able to display
balance in foreign currency..
Example: Consider an invoice for USD
1,000, which on that day translates into an amount of INR 45,000 with an
exchange rate of I USD=INR 45. Imagine that when the goods are received, the
exchange rate was 1 USD=INR 44.
If
the indicator is set, the balances are updated only
in local currency @ Rs.45000 the system ignores the exchange rate as if
the line items have been maintained only in the local currency (INR)(Rs45000),
and the items are cleared.
If
the indicator is NOT set, the system makes a posting for the ‘exchange rate
difference’ (INR 1, 000) before clearing the two line items.
This Option is used both for
·
Cash Discount
Clearing
·
GR/IR Clearing Account
·
It is also used for Balance Sheets Accounts which not managed Open Item basis
Or not kept in foreign Currency.(but not used for Customer /
vendor reconciliation Accounts.)
you need to set this
indicator so that the transactions are posted without posting any
exchange rate difference that otherwise might arise.
