SAP ERP Financials and FICO Handbook

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270 CHAPTER 7 SPECIAL AREAS The steps involved in each of these approaches are presented in Table 7.2. Adjusting the Balance per Bank Balance per Bank Statement on MM/DD/YY Add: Deposits in transit Deduct: Outstanding checks Add or Deduct: Bank errors Adjusted/Corrected Balance per Book Adjusting the Balance per Books Balance per Books on MM/DD/YY Deduct: Deposits in transit Add: Outstanding checks Add or Deduct: Bank errors Adjusted/Corrected Balance per Bank TABLE 7.2 Bank reconciliation In SAP solutions, when the bank reconciliation process is implemented, you will have a minimum of three G/L accounts: (1) incoming clearing account, (2) outgoing clearing account, and (3) main account. Once the company has issued checks to their vendors, it will pass the following entries: Debit Vendor Account Credit Outgoing clearing account When receiving checks, the company will pass the following entries: Debit Incoming clearing account Credit Customer Account When the company receives a bank statement from its bank, it passes the following accounting entries: For incoming payment: Debit Bank main account Credit Incoming clearing account
7.4 LOCKBOX CONFIGURATION 271 For outgoing payment: Debit Outgoing clearing account Credit Bank main account When the company passes these entries, the main bank account balance will agree with the bank balance as per bank. To carry out automatic/manual bank reconciliation, you need to configure the following steps: n n n n n Create Account Symbol (OT53): In this step, you will create various IDs for banking transactions, such as the following: (1) CI—Check Issues, (2) CR—Check Receipts, (3) BD—Bank Debits, (4) BC—Bank Credits, and (5) BM—Bank Main Accounts. Assign Account to Account Symbol (OT53): In this step, you will assign G/L accounts to account symbols. Create Keys for Posting Rule (OT53): In this step, you will create posting rules and IDs. Define Posting Rules (OT53): In this step, you will assign posting keys, account symbols, document types, and posting types to posting rules. Define Variant for Manual Bank Statement (OT43): In this step, you will define a screen variant for data entry for bank reconciliation. Using transaction code FF67 from the application menu, you can input data for manual bank reconciliation statements. You can upload a BAI file for electronic bank statements through T-code FF.5. 7.4 LOCKBOX CONFIGURATION A lockbox is an arrangement with a bank under which payments are mailed to a strategically located post office box that is serviced by the bank. The bank picks up the payments from the post office several times a day and accelerates the processing of the checks to make funds available to the customer. Lockboxes enhance the security and control of funds and can reduce workloads in customer service offices.
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SAP ® ERP Financials and FICO Hand
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THE JONES AND BARTLETT PUBLISHERS S
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World Headquarters Jones and Bartle
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ABOUT THE AUTHOR A graduate in comm
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viii TABLE OF CONTENTS 3.5 Cost Cen
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AN INTRODUCTION TO SAP SOFTWARE SAP
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xiv PREFACE n n n n n Chapter 7—S
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2 CHAPTER 1 INTERVIEW QUESTIONS AND
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10 CHAPTER 1 INTERVIEW QUESTIONS AN
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Chapter 2 CERTIFICATION QUESTIONS A
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2.1 QUESTIONS 97 9. What would be t
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2.1 QUESTIONS 99 21. You can only h
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2.1 QUESTIONS 101 33. State True or
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2.1 QUESTIONS 107 66. Posting keys
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2.1 QUESTIONS 109 79. The company c
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2.1 QUESTIONS 111 92. When you canc
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2.1 QUESTIONS 113 c. You can assign
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2.1 QUESTIONS 115 114. State True o
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2.1 QUESTIONS 117 126. The credit c
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2.1 QUESTIONS 119 140. Negative rev
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2.1 QUESTIONS 121 154. A shortened
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2.2 ANSWERS 123 168. Once you cross
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2.2 ANSWERS 125 80. a-True, b-False
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Chapter 3 ISSUES AND RESOLUTIONS A
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3.2 G/L ACCOUNTING 129 posting key,
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3.2 G/L ACCOUNTING 131 3. Switch of
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3.2 G/L ACCOUNTING 133 The error is
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3.3 AP 135 Ranking order represents
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3.3 AP 137 You can use the BnkT (ba
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3.3 AP 139 transaction code FCHU, w
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3.3 AP 141 Issue No.: 23 While post
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3.4 AM 143 While configuring the pa
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3.4 AM 145 1. Recalculate depreciat
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3.4 AM 147 Issue No.: 36 While capi
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3.4 AM 149 Issue No.: 41 The user i
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3.4 AM 151 for 2007. Now the user w
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3.4 AM 153 If you are trying to put
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3.4 AM 155 In the screen that appea
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3.7 NEW G/L 157 A customer and vend
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160 CHAPTER 4 CONFIGURATION STEPS S
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162 CHAPTER 4 CONFIGURATION STEPS S
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164 CHAPTER 4 CONFIGURATION STEPS F
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174 CHAPTER 4 CONFIGURATION STEPS 4
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182 CHAPTER 4 CONFIGURATION STEPS 4
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Chapter 5 USER TRANSACTION CODES In
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5.1 G/L ACCOUNTING 189 Posting to G
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5.1 G/L ACCOUNTING 191 Display G/L
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5.2 AP 193 Function Name and Path C
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5.2 AP 195 Function Name and Path I
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5.2 AP 197 Period-end Transactions
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5.3 AR 199 5.3 ACCOUNTS RECEIVABLE
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5.3 AR 201 Function Name and Path S
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5.3 AR 203 Period-end Transactions
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5.4 AM 205 5.4 ASSETS MANAGEMENT (A
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5.4 AM 207 Assets Retirement/ Trans
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5.5 CO-CEL 209 Function Name and Pa
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5.6 CO-CCA 211 Function Name and Pa
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5.7 CO-IO 217 Information Systems F
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5.7 CO-IO 219 Function Name and Pat
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Page 335 and 336: INDEX 319 data types in, 110 deprec
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INDEX 321 in Profit Center Accounti
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