Accounting Entries - SAP SD Forum
Accounting Entries - SAP SD Forum
Accounting Entries - SAP SD Forum
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Bank account Dr
Discount Dr
INVOICE GENERATION
Invoices will be generated at the Smelters and stock points. The accounting entries for the sale of goods
despatched will ow from the Sales invoice generated in SAP Sales and Distribution module. The following
entries shall be passed
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Customer Account Dr
Revenue Cr
Excise Duty Payable Cr
Sales Tax Payable (local or central) Cr
Note: As mentioned above in the FI document, which is created in the background, the SD invoice number shall
be captured. However as per the current accounting procedure the accounting entry passed is as follows :-
Customer Account Dr
Revenue Cr
Excise Duty Billed Cr
Sales Tax Payable (local or central) Cr
EXPORT SALES
There have been very few export transactions in the past. SAP system will be designed to handle export
business. Exports are mainly from the mines and will be handled at the mines, however the documentation part
will be taken care at the Head O ce. The accounting entry is:
Customer Account Dr
Revenue (Exports) Cr
The realisation of export sales will be directly credited to the bank. The accounting entries will be as follow:
Bank Dr
Customer Cr
Exchange Fluctuation Dr/ Cr
DEBIT MEMOS
Debit Memos shall be issued in case of price di erence, sale tax di erence and interest on usance period and
overdue payments.
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In case of HZL a complete retirement or a partial retirement of asset is done. The system uses the asset
retirement date to determine the amount to be charged o for each depreciation area. The existing accounting
policy is to provide depreciation for the full quarter in which the asset is sold/discarded, recommended that the
depreciation be provided from the date of acquisition on prorata basis .
Note: In case of any Sales Tax /Excise duty applicable for this transaction, SAP will calculate the Sales Tax/Excise
Duty based on the Tax Code selected the entry is posted to the GL Account (Sales Tax Payable)
SALE OF SCRAP
The sale of scrap (non-stock) shall be mapped as a direct manual FI entry. The customer will be created as a FI
customer. No Logistics module will be involved in the process.
A FI Invoice will be prepared for the sale of scrap with the following entries:
Customer Dr
Sale of Scrap Cr
Excise Duty Payable Cr
These advances will be later on adjusted against the invoices raised on the customers. Advances can be adjusted
against more than one invoice at the time of clearing of the invoices against advances.
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Adjustment of Advances
Customer Account Cr
Advance Customer Payments Dr
A nancial document would be created for each Bank Guarantee received and this document number will be
referred to in the Sales Order which would then monitor the value and the validity of the of the Bank Guarantee
instrument wise while doing the billing.The letter of credit /Bank guarantee given will be recorded as a noted
item.
GOODS RECEIPT
Based on the Purchase order and the Quantity actually received Goods Receipts (GR) will be done. Based on the
GR done the following accounting entry will be passed in the Financial Accounts
RM/PM Stock Account Dr
GR/IR Account Cr
Freight Clearing Account Cr
This entry was posted in 5.2 Billing documents, Account determination, Integration with MM, FI, PP on
September 25, 2008 [https://sapsdforum.com/2008/09/25/sales-and-distribution-accounting-entries/] .
asif
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hi,’
your notes r so simple to understand, its good.
thanks,
asif.
Dhaval
May 3, 2010 at 5:00 am
Dear Sir,
Please require me to customer wise ledger in sap system, so please customer ledger transaction code
sanjeev
December 29, 2010 at 6:19 am
hi all
krishna
June 4, 2011 at 9:45 am
your info is simply superb and Very easy to understand. Its like ready cake to eat. Thanks
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x ra
February 2, 2012 at 11:52 am
Hi. When a delivery is goods issued, there are two postings that occur. The rst is against inventory accounts and
the second is against tax accounts. On many occasions in the past, the tax posting either doesn’t get generated
(most common) or is duplicated (not as common). My problem is, i dont know where to nd the missing tax
postings. And how to know if they are missing. my task is to create a tax posting report that will identify missing
tax postings as soon as possible. can u please help me with this? Thanks
imran
September 13, 2012 at 10:15 am
hI
iS THIS ACCOUNTING ENTRY FOR THE ADVANCES RECIEVED FROM THE CUSTOMER AUTO POSTED TO THE FI
MODULE?
Pingback: Sales Tax Accounting Entry When Selling | Find CPA Now
Lorenzohag
February 24, 2015 at 9:53 pm
Chandra
August 25, 2015 at 11:58 am
Hi , your explanations are very good! You have very nicely de ned accounting entries after Debit memo is raised,
but what are the accounting entries after a credit memo is raised?
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Credit Memo:
Bank A/C DR
Revenue / Company A/C CR??
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Jasonelult
February 8, 2017 at 8:39 pm
RaymondBem
April 10, 2020 at 10:13 pm
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July 13, 2020 at 12:11 pm
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July 20, 2020 at 11:04 am
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