Hi VidhyaDhar/Mohini
It is a huge configuration but definitely the best to handle all kinds of Prepaid and Accrued accounts.
The following link may guide you thro.
http://help.sap.com/saphelp_erp60/helpdata/en/05/9 93841906da52fe10000000a155106/content.htm
Regards
KSolaiappan
From: VidhyaDhar via sap-acct <sap-acct@Groups.ITtoolbox.com>
To: solaiappan_k email@removed
Sent: Sun, July 11, 2010 6:53:48 PM
Subject: Re: [sap-acct] can we assign B/s a/c in PO?
Posted by VidhyaDhar (User-friendly SAP FI Consultant)
on Jul 11 at 10:00 AM Mark as helpful
Hi Solai
Would you mind explaining to Mohini details of Accrual Engine and how it is
integrated with FI accounting ?
It requires a lot of configuration with regard to Accounting principle,
number range, document type, start account and target account.
Regards
VidhyaDhar
On Sun, Jul 11, 2010 at 2:01 PM, solaiappan_k via sap-acct <
sap-acct@groups.ittoolbox.com> wrote:
> Posted by solaiappan_k
> on Jul 11 at 8:10 AM Hi
>
>
> Please activate Accrual Engine for such transactions. If you are using
> Flexi RE it provides additional functionality for creating a contract and
> posting accruals and deferral duly accounting for the monthly expenses /
> Income.
>
> Please try this out.
>
> Regards,
>
>
> KSolaiappan
>
>
>
> From: VidhyaDhar via sap-acct <sap-acct@Groups.ITtoolbox.com><http://Groups.ITtoolbox.com%3E>
> To: solaiappan_k email@removed
> Sent: Sat, July 10, 2010 9:24:29 PM
> Subject: Re: [sap-acct] can we assign B/s a/c in PO?
>
> Posted by VidhyaDhar (User-friendly SAP FI Consultant)
> on Jul 10 at 11:51 AM Mark as helpful
> Hi Mohini
>
> 1. You could create a Balance Sheet related General Ledger Account for
> *Prepaid
> Rent* and a profit and loss account related General Ledger for *Rent paid*.
>
> ( T Code : FS00)
>
> 2. You could create a *vendor *account for your landlord to whom you pay
> rent. ( T Code: FK01)
>
> 3. You could post a Purchase Invoice (no matter whether your vendor could
> gives you a bill or not ) *debiting Prepaid Rent* and *Crediting Vendor*.
> This could be for the large value you mentioned. (T Code: FB60).
>
> The impact of this invoice would be to treat the prepaid rent as an asset
> in
> your balance sheet and book a vendor liability for the entire sum.
>
> 4. You could create a recurring entry schedule in IMG by creating a variant
>
> and pre-assigning the payment dates to this variant ( Path : IMG >
> FINANCIAL
> ACCNTG. > FIN. ACCTNG. GLOBAL SETTINGS > DOCUMENT > RECURRING
> ENTRIES......Actually you would see two subnodes ....one for defining your
> schedule and the second for creating monthly duedate schedule). Define your
>
> schedule (am assuming 12 month schedule, for ease of understanding). Am
> also
> assuming that you make a lump some payment of the entire invoice value to
> the
> vendor .
>
> 5. You could create a template ( it is just a template which works as a cue
>
> and has no accounting impact ) for reversing one Equated Monthy Installment
>
> -EMI. If your prepaid rent is Rs. 120000 per annum you could make this
> template debiting Rent and crediting Prepaid Rent with Rs. 10000. Please
> use
> posting keys 40 and 50 respectively. Please note that you must have defined
>
> an internal number range interval *X1* with numbers *9000000000* to
> 9099999999 for the fiscal year you are accounting. However, this document
> posted would serve as a cue and has no accounting impact. (T Code : FBD1).
> This is a single time activity.
>
> 6. You could periodically view this Recurring Document to see how many
> equated monthly installments have been reversed ( You would see a number
> starting with 1 and progressing up to 12 (and ending with an X mark) each
> month when you post a reversal. T Code: F.15
>
> 7. Each month you could reverse an EMI ( viz. Rs. 10000) by keying in your
> company code,the schedule variant name, month for which you are reversing
> the
> prepaid rent. T Code: F.14
>
> But please note that this would create a session with the name SAPF120
> which
> you need to process from the backend.
>
> You could see that the system automatically reverses one EMI by debiting
> Rent Account ( Rs.10000 each month) and crediting Prepaid Rent.
>
> At the end of the 12th month Prepaid Rent becomes zero and your rent is
> equally allocated to the 12 months @ Rs.10000 per month.
>
> That is just all about recurring entries.
>
> Try it out.....please
>
> Regards
>
> VidhyaDhar
>
> On Sat, Jul 10, 2010 at 4:11 PM, MohiniJ via sap-acct <
> sap-acct@groups.ittoolbox.com> <http://groups.ittoolbox.com%3E> wrote:
>
> > Posted by MohiniJ
> > on Jul 10 at 10:18 AM Hi
> > PRakash,
> >
> > Thanks a lot for your reply.
> > Could you please tell me how can we map Accrual postings like pre-paid
> rent
> > in SAP.
> >
> > Waiting for reply.
> >
> > Thanks
> > Mohini
> >
> >
> > ----- Original Message -----
> > From: SAP_FICO_certified_Consultant via sap-acct
> > To: MohiniJ
> > Sent: Fri, 9 Jul 2010 18:09:00 +0530 (IST)
> > Subject: Re: [sap-acct] can we assign B/s a/c in PO?
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Posted by SAP_FICO_certified_Consultant
> > on Jul 9 at 8:35 AM
> > Mark as helpful
> >
> >
> >
> > Hi,
> > You r doing creating PO with Account Assignment object K , which is
> > compatible for PL GL only. Hence system is not accepting because u r
> > assigning BS GL in stead of PL GL.
> > Now the point is you can do by accrual posting method.
> > Any way if you want to treat as first expend,capitalized and Amortized,
> > That is possible in Account Assignment object A. Treating that
> expenditure
> > is Intangible Asset
> > But practically it is not suggestible and viable also.
> > Generally company is dealing with such scenario with Accrual posting.
> >
> > Regards,
> > Prakash Kumar
> > SAP FI certified consult,GRC consult,ACWA
> > On Fri, Jul 9, 2010 at 11:05 AM, MohiniJ via sap-acct <
> > sap-acct@groups.ittoolbox.com> <http://groups.ittoolbox.com%3E> <
> http://groups.ittoolbox.com%3E> wrote:
> >
> > > Posted by MohiniJ
> > > on Jul 9 at 1:34 AM Hi All,
> > > recently implementation has done
> > > so first time client is posting this scenario
> > > while creating PO for rent client want to assign B/s a/c
> > > Because warehouse expense is too large, they don't post expense in
> > current
> > > month, and they usually post it to prepaid expense firstly and amortize
>
> > it
> > > within availability period.
> > > so they want to assign gl Pre-paid rent a/c
> > > bt then if error message is " GL ac not corect"
> > >
> > > G/L account 151220 cannot be used (please correct)
> > > Message no. ME045
> > >
> > > Diagnosis
> > > Comparison of the field selection strings from the G/L account 151220
> and
> >
> > > the account assignment category K reveals that there is an incompatible
>
> > > combination of field selections for the field selection group 'Cost
> > center'.
> > >
> > >
> > > The G/L account field selection is stored in table T004F; that for the
> > > account assignment is stored in table T162K.
> > >
> > > Procedure
> > > Please enter a correct G/L account.
> > >
> > > so hw can we treate this senario in SAP
> > > do we need to create PO or any other ways r there?
> > >
> > > Please let me know.
> > > Thanks and Regards,
> > > Mohini
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