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Chapter 14 ■ Defining FI Accounts Receivable and Accounts Payable
Defining Accounts for Cash Discounts
In this activity you specify accounts that you want to post cash discounts granted to, cash discounts taken,
and lost cash discounts.
Defining Cash Discounts Granted
Cash Discount Granted is the cash discount you give to a customer for complying with the agreed terms of
payment. The discount granted reduces the total invoice amount by an agreed percentage. Based on the
settings you make in this exercise, the system will post cash discounts granted to the accounts you define.
■■Note
exercise.
go to “Appendix A – Chapter 14, Cash Discount Granted,” to create G/L account 8800000 for this
To define accounts for discount granted, follow this menu path: IMG: Financial Accounting (New)
➤ Account Receivable and Accounts Payable ➤ Business Transaction ➤ Incoming Payments – Incoming
Payments Global Settings ➤ Define Accounts for Cash Discount Granted. Or use transaction code OBXI.
The Enter Chart of Accounts dialog box pops up. Enter your chart of accounts (CA90) in the Chart of
Accounts field and click the Enter button at the bottom of the dialog box. The Configuration Accounting
Maintain: Automatic Posts - Rules screen is displayed. Click Save at the top of the screen. The
Configuration Accounting Maintain: Automatic Posts - Accounts screen is displayed, which is where you
assign the G/L account for Clearing Cash discount Granted to Automatic Posting – Accounts. Enter the G/L
account for Cash Discount Granted 880000 in the account field. Click the Enter button on the top-left side
of the screen to confirm your entry and then save .
Defining Account for Cash Discount Taken
Cash Discount Taken is the cash discount you receive from vendors for complying with their payment
conditions. Discounts taken will reduce the total invoice amount by an agreed percentage. Based on the
settings you make in this exercise, the system will post cash discount taken to the accounts you define.
■■Note
go to “Appendix A – Chapter 14, Discount Received” to create G/L account 276000 for this exercise.
To define accounts for a discount taken, follow this menu path: IMG: Financial Accounting (New) ➤
Account Receivable and Accounts Payable ➤ Business Transaction ➤ Outgoing Payments ➤ Outgoing
Payments Global Settings ➤ Define Accounts for Cash Discount Taken. Or use transaction code OBXU.
The Enter Chart of Accounts dialog box pops up. Enter your chart of accounts (CA90) in the Chart of
Accounts field and click the Enter button at the bottom of the dialog box. The Configuration Accounting
Maintain: Automatic Posts - Rules screen is displayed. Click Save at the top of the screen. The
Configuration Accounting Maintain: Automatic Posts - Accounts screen is displayed, which is where you
assign the G/L account for Clearing Cash discount taken to Automatic Posting – Accounts. Enter the G/L
account for Cash Discount taken 276000 in the account field. Click the Enter button on the top-left side of
the screen to confirm your entry and then click Save .
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