Nilkamal: - to successfully deal with General Ledger in SAP FICO, we need to ask some questions to ourselves to make the process look smooth like butter. The first question is that how to open a G/L account and then post a transaction? After posting a transaction, how we should view a document as well as a G/L Account? Then as an accountant or a Finance Manager, you need to do Document Processing and Management of Accounts. Also, you need to do foreign currency Postings if it is MNC or it deals with foreign exchange.
Suhash: - What is Document Processing, Sir?
Nilkamal: - It is just about how you will process a document. The different ways of Document Processing are: - Holding of a document, parking of document, Recurring document and Sample document. Similarly, in Management of Accounts, there are 4 steps: - Open Item Management, Blocking of G/L Account, Changing G/L Account and Reversals. Now, let us focus on how to open a G/L Account. The path is: - SAP Easy Access -> Accounting -> Financial Accounting -> General Ledger -> Master Records -> G/L Accounts -> Individual Processing -> FS00 – Centrally. Here, the transaction code is FS00.
Paul: - Sir, we can see a form in the screen, which shows two rows. One is for G/L Account Number and another one is for Company Code. The Company Code, we know, but what will we enter for the G/L Account Number?
Nilkamal:- Do you remember that for the transaction code :- OBD4, we configured LIABILITY (L) in the range of 100000 – 199999, for ASSET(A) the range is 200000-299999, for INCOME (I) the range is 300000-399999 and for EXPENSE(E) it is 400000-499999. As per the type of accounts, we will enter an account number within that defined range. That is, if the account is of liability type, then we will enter 100100 or any other number within 100000 to 199999 but we cannot enter any number within the range of 200000 to 499999.
Rinky: - Below these two rows in this form, there are some button types. What are these, Sir?
Nilkamal: - These are not buttons. These are known as Views. There are 6 types of views and they are:- Type/Description, Control Data, Create Bank/Intent, Keyword/Translation, Information at Chart of Accounts Level and Information at the Company Code Level. Now, tell me, what you are viewing, when you are clicking on the View ‘Type/Description’ tab.
Dulal: - There are several rows in the form. They are: - ‘Control in Charts of Accounts’, ‘Types of Accounts’, ‘Description’, and ‘Consolidation Data in Charts of Accounts. What do we need to select for these rows or labels, Sir?
Nilkamal: - The ‘Control in Chart of Accounts’ can be of four types: - LIABILITY Expense, INCOME Expense, ASSETS Expense and EXPENSE Expense. Whatever you will select, it should abide by the accounting norms. Suppose if it is a Liability account, then the ‘Types of Account’ will be of P&L accounts type but not the Balance Sheet type. So, be careful, while selecting the radio button. If you commit a mistake in this case, you can only edit before any G/L post. After that, you cannot edit the setting of ‘Types of Accounts’. For the ‘Description’ label, the short text has the limit for maximum 20 characters and for long text it has the maximum limit for 40 characters. In the ‘Consolidation of Charts of Accounts, you need to mention the Group Company or Trading Partner ID. Always remember that under section 509, there has to be a group consolidated G/L Account and Group P&L statement and Balance Sheet. Basically, you need business consolidation to get all consolidated results in Business Intelligence (BI) and Strategic Enterprise Management (SEM). Now, click on the ‘Control Data’ tab and tell me what you are viewing in that View.
Sarita: - Sir, we can view three labels or rows inside this tab. They are :- ‘Account Control in Company Code’, ‘Account Management in Company Code’, ‘Joint Venture data in Company Code’. Sir, can we take a short break before learning about this tab?
Nilkamal: - Ha ha ha …ok, ok, sure, take a break and come back with a fresh mind after a sip of tea or coffee.
No comments:
Post a Comment