Transcript Document

Module 3
G/L Account
Creation
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G/L Accounts
 In the SAP R/3 system, each transaction that has a
financial impact on the organization is recorded in a
general ledger (G/L) account or sub-ledger accounts
that are posted to the G/L via reconciliation accounts.
 The central task of G/L accounting is to provide a
comprehensive picture for external accounting and
accounts. Recording all business transactions (primary
postings as well as settlements from internal
accounting) in a software system that is fully integrated
with all the other operational areas of a company
ensures that the accounting data is always complete
and accurate.
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G/L Accounts
 The SAP FI General Ledger has the following features:
 Automatic and simultaneous posting of all subledger items in the appropriate general ledger
accounts (reconciliation accounts)
 Simultaneous updating of general ledger and cost
accounting areas
 Real-time evaluation of and reporting on current
accounting data, in the form of account displays,
financial statements with different financial
statement versions and additional analyses.
 Can take some getting used to as reports can change
continuously
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G/L Account
 Essentially, the general ledger serves as a complete
record of all business transactions. It is the centralized,
up-to-date reference for the rendering of accounts.
Actual individual transactions can be checked at any
time, in real-time, by displaying the original documents,
line items, and transaction figures at various levels
such as:
 Account information
 Journals
 Totals/transaction figures
 Balance sheet/profit and loss evaluations
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G/L Account
From: help.sap.com
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Master Data
• Describes items or objects used in a business such as
accounts, materials, vendors, customers that remains
unchanged over an extended period of time
• Transaction data is data that is used for relatively short
periods of time, usually to record business transactions
(sales orders, purchase orders, production orders,
payroll amounts)
• Transaction data is regularly removed from the system
in a process known as archiving. For auditing
purposes, it cannot simply be deleted.
• A master record must be created for every G/L account
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Balance Sheet Accounts
Assets

What the firm owns, in various
levels of liquidity:
 Cash
 Receivables
 Inventory
 Plant
& Equipment
 Real Estate
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Balance Sheet Accounts
Liabilities

What the firm owes
 Payables—payment
for
materials/services received on credit
 Bank loans
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Balance Sheet Accounts
Equity
The difference between total
assets and total liabilities
 Includes

 Retained
earnings
 Net income on past periods
Assets = Liabilities + Equity
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Reconciliation Accounts
 Reconciliation accounts are a special type of
balance sheet account that record the total
amount of accounts receivable and accounts
payable:

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When you post to an account in the sub-ledger (e.g.
customer account, supplier (vendor) account), the
system automatically posts to the corresponding
reconciliation account, and the general ledger is
automatically updated
Reconciliation accounts provide a summary of the
company’s accounts receivable and accounts
payable
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Profit and Loss (P&L)
Accounts
 Revenues
 Money obtained by the sale of goods and services
to customers
 Expenses
 Money spent to produce the revenue:
 Materials
 Utilities
 Salaries
 Selling expenses
 Administrative expenses
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Profit and Loss (P&L)
Accounts
•
•
Contain an identifier for the Retained
Earnings account
At fiscal year end, the P & L accounts are
‘closed’ to the Retained Earnings
account
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G/L Master Records
Contain:
 Chart of Accounts
 Company Code
 G/L account number
 G/L account name
 Account type: Balance sheet or Income
Statement
 Account group
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Account Groups
 Identifier that controls which fields must be entered
when the account is created
 Can determine a valid number interval for the G/L
account
 Must be created before creating G/L master records—
configuration data
 Three Account Groups were created for Fitter Snacker
 Balance Sheet Accounts
 Profit and Loss Accounts
 Reconciliation Accounts
 Already created in the Chart of Accounts for entire
class
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Account Groups
Financial accounting General ledger accounting
G/L accounts Master Records Preparations
Define Account Groups
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Field Status Groups and
Variants
 Data in the SAP R/3 system is entered in Fields on a
screen. Because SAP is a general purpose program,
not all fields on all screens will require an entry for a
particular company’s implementation. Conversely,
some fields will require an entry, while others will be
optional.
 Field Status Groups and Variants can be used to
configure the General Ledger account screens to
define each field as a required entry, optional entry or
suppressed (hidden).
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Field Status Setting
All 5 Account
management
settings are optional
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Corresponding G/L Account
Screen
All 5 Account
management fields
are displayed
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Field Status Setting
Two account
management settings
are suppressed
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Corresponding G/L Account
Screen
Only 3 Account
management fields
are displayed
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Field Status Groups and
Variants
 Field status groups are combined into a Field
Status Variant, which is then assigned to a
company code.
 The use of Field Status Groups and Variants
is optional—its only purpose is to simplify
G/L Account screens for the user
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Account Currency
 Account Currency

Currency that the account will use to record
transactions
 Only balances in local currency

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This setting determines how transactions
are handled if postings to this account are
made in currencies other than the account
currency
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Tax Category
 Determines whether the account is a tax
account, or a tax-relevant account
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Open Item Management
 Indicates that the G/L account entries
requires clearing
 Accounts with open item management
require offsetting entries to be assigned
to the postings made to the account.
Postings to these accounts represent
incomplete transactions.
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Open Item Management
 Example: Clearing accounts such as the
Goods Receipt/Invoice Receipt (GR/IR)
account
 When goods are received for a purchase
order, a credit is created in the GR/IR account
to show that an invoice must be received
 When the invoice is received, a debit entry is
created to clear the goods receipt entry
 You can only archive documents if all line
items are cleared
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Line item display
 If this item is selected, then all debit and
credit detail for the account is available

When posting items to such accounts and
displaying line items, additional storage space and
system time are required
 Line item display should not be used for
reconciliation accounts, accounts that have a
summation function and are analyzed by
another application, such as the accounts
"Revenue" and "Stock“ and input and output
tax accounts
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Sort key
 Necessary when Line Item display is
selected
 Determines the field that will be used to
sort the line items, for example:



Posting date
Document date
Cost center
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