Last Updated on August 7, 2022 by admin
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
- What are the accounting entries of Vendors’ outgoing payments?
- What are the accounting entries of customer incoming payments?
- What are the important accounting entries of BRS?