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Defining an Account for a Lost Cash Discount
Chapter 14 ■ Defining FI Accounts Receivable and Accounts Payable
Discount lost normally arises as a result of failing to comply with payment terms (failure to pay an invoice
amount within a specified period). To define an account for a lost cash discount, it is advisable to first create
a G/L account for discount loss, because you will need to assign the account for lost cash discount to a G/L
account.
■■Note
go to “Appendix A – Chapter 14, Discount Lost” to create G/L account 880010 for this exercise.
To define accounts for lost cash discounts, follow this menu path: IMG: Financial Accounting (New)
➤ Account Receivable and Accounts Payable ➤ Business Transaction ➤ Outgoing Payments ➤ Outgoing
Payments Global Settings ➤ Define Accounts for Lost Cash Discount. Or use transaction code OBXV.
The Enter Chart of Accounts dialog box pops up. Enter your chart of accounts (CA90) in the Chart of
Accounts field on dialog box 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 lost cash discount to Automatic Posting – Accounts. Enter the G/L
account for lost Cash Discount taken 880010 in the Account field. Click the Enter button on the top-left
side of the screen to confirm your entry and then click Save .
Defining Account for Overpayments/Underpayments
Customizing an account for overpayments/underpayments allows the system to make postings to revenue
and expense accounts if the following conditions are present:
• Payment difference arises as a result of overpayment or underpayment.
• It is not possible to post differences through cash discount adjustments.
• When the difference falls within tolerance limits for an automatic adjustment
posting.
■■Note
go to “Appendix A – Chapter 14, Overpayments/Underpayments,” to create G/L account 881000 for
this exercise.
To define accounts for overpayments/underpayments, follow this menu path: IMG: Financial
Accounting (New) ➤ Account Receivable and Accounts Payable ➤ Business Transaction ➤ Outgoing
Payments ➤ Outgoing Payments Global Settings ➤ Define Accounts for Overpayments/Underpayments. Or
use transaction code OBXL.
The Enter Chart of Accounts dialog box pops up. Enter your chart of accounts (CA90) in the Chart of
Accounts field on dialog box 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 clearing account for unauthorized customer discounts to Automatic Posting – Accounts.
Enter the G/L account for unauthorized customer discounts 881000 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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