FINANCIAL ACCOUNTING

SAP Implementation at IESCO

Training Document
General Ledger Accounting

LAST SAVED - 8/12/2018 5:15:00 PM

538154440.docx
Contents
General Ledger Accounting........................................................................................................................................................................................................... 3
1 Purpose.................................................................................................................................................................................................................................. 3
2 Master Data............................................................................................................................................................................................................................ 3
3 Process Steps........................................................................................................................................................................................................................ 3
3.1 GL Master Data Maintenance.......................................................................................................................................................................................... 3
3.2 Parking of GL Document................................................................................................................................................................................................. 6
3.3 Posting of GL Document................................................................................................................................................................................................. 8
3.4 Recurring Document...................................................................................................................................................................................................... 11
3.5 Clearing GL line items................................................................................................................................................................................................... 14
3.6 Reverse Posted GL voucher.......................................................................................................................................................................................... 17
3.7 Month End Closing........................................................................................................................................................................................................ 20
3.8 Trial Balance.................................................................................................................................................................................................................. 24
General Ledger Accounting

1 Purpose
The central task of G/L accounting is to provide a comprehensive picture of 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.

1 Master Data
Master data - Data that is created centrally and it is valid for all applications. It remains constant over the time but we need to update it on regular basis. G/L
account master records contain the data that is always needed by the General Ledger to determine the account's function. The G/L account master records
control the posting of accounting transactions to G/L accounts and the processing of the posting data

2 Process Steps
2.1 GL Master Data Maintenance

Use
Use this procedure to maintain a G/L account at the chart of account and company code level. This will impede postings made to one or several accounting
ledgers

Procedure
1. Open “Edit GL Account Central View” App from FioriLaunch pad.
2. Enter GL Account and Company code in initial screen then press enter.

Field name Description User action and values Comments

GL Account 202600
Company Code IESCO 1000

Screen shot for the GL Master Data:

3. Manage GL account accordingly.

Field name Description User action and values Comments

G/L Account Type Balance Sheet Account
Account Group General Ledger Account
Short Text Prepayments Rent
G/L Acct Long Text Prepayments Rent
Account currency PKR
Recon. Account for Acct Type
Sort key 001
Field status group G013
Commitment item 202600
Screen shot for the GL Master Data
Result
You have Maintaned a G/L account in company code 1000 centrally.

2.2 Parking of GL Document

Use
You receive G/L account documents that have to be parked manually in the SAP system.

Procedure
1. Open “Park General journal entries” App. from Fiori Launchpad.
2. Enter following informationin Initial Screen then press enter.

Field name Description User action and values Comments

Enter Journal Entries Header Data In the Header pane, make the following
entries:
Document Date: 16.04.2018
Posting Date: 16.04.2018
Currency: PKR

Enter First Line Item Data In the Line Items pane, make the following
entries:
G/L Account: For example , 750000
D/C: Debit
Amount: 100
Tax Code: A0
Cost Center: For example, 100001
Enter Second Line Item Data In the Line Items pane, make the following
entries:
G/L Account: For example, 300001
D/C: Credit
Amount: 100
Save Choose Save parked document.
Screen shot for the parked general journal entry.
Choose Park Document
Result
The General Ledger account document is parked.

2.3 Posting of GL Document

Use
You receive G/L account documents that have to be posted manually in the SAP system.

Procedure
1. Open “Post General journal entries” App. from Fiori Launchpad.
2. Enter following informationin Initial Screen then press enter.
Field name Description User action and values Comments
Enter Journal Entries Header Data In the Header pane, make the following
entries:
Document Date: 16.04.2018
Posting Date: 16.04.2018
Currency: PKR

Enter First Line Item Data In the Line Items pane, make the
following entries:
G/L Account: For example , 750000
D/C: Debit
Amount: 100
Tax Code: A0
Cost Center: For example, 100001
Enter Second Line Item Data In the Line Items pane, make the
following entries:
G/L Account: For example, 300001
D/C: Credit
Amount: 100
Save Choose Post document.
Screen shot for the post general journal entry
Result
The General Ledger account document is posted.

2.4 Recurring Document

Use
Recurring entries allows the business a function for automatic creation of accounting entries based on the predefined parameters. Once the Recurring entries
are created they get posted into the SAP system as per the defined schedule by the business.

Procedure
1. Open “Manage recurring journal entries” App. from Fiori Launchpad.
2. On the Enter Recurring Entry: Header Data screen, enter the following data:
Field name Description User action and values Comment
Company Code 1000 Company Code 1000
Recurring Entry Run:
First Run On 01.04.2018 Specifies when the recurring entry document
is to be posted for the first time.
Last Run On 01.07.2018 Specifies when the recurring entry document
is to be posted for the last time.
Interval in Months 01
Amount 100
Document Type SA
Currency PKR
Reference Accrual
First line item/Second line
item
Posting Key 40/50
Account 750000/300095
Screen shot for the Enter Recurring Entry: Header Data
Field name Description User action and values Comment
Amount *
Cost Center 100001
Result
A recurring document is processed.

2.5 Clearing GL line items

Use
The transaction is used to clear open items manually. If the balance of the items to be cleared is not 0, you can create a residual item for
overpayments/underpayments.

Procedure
1. Open “Clear GL Accounts(Manual Clearing)” App. from Fiori Launchpad.
2. Clear General Journal Entries.

Field name Description User action and values Comment

Enter Journal Entries Make the following entries:
Header
Document Date: 16.04.2018
Posting Date: 16.04.2018
Period: 10
Document Type: SA
Company Code: 1000
Transactions Currency: PKR
Ledger Group: Must be empty!
Line 1
G/L Account: for example, 750000
Debit: 100
Cost Center: 100001
Line 2
G/L Account: for example, 300001
Credit: 100
Post Choose Post.
Enter Second Document Repeat Steps 3-4 for account 750000 (debit) and
account 100001 (credit)
Screen shot for clearing G/L account open item:
Press Go.

Choose Post
Save your entries.

Result
Selected Open Items are cleared.

2.6 Reverse Posted GL voucher

Use
This scenario describes the procedure for reversing FI documents. During this process, the system generates accounting documents, adds information to
existing documents and updates the transaction figures in the affected ledgers.
The following types of reversal are supported by the system:
Individual reversal
Mass reversal

Procedure
1. Open “Reverse Line Items"from Fiori Launchpad.
2. Make the following entries in Initial Screen then press enter.
Field name Description User action and values Comment
Select Journal Entry Make the following entries and choose Go.
Company Code: 1000
Ledger Group: <empty>
Journal Entry Type (optional): For example, SA
Journal Entry:
Document Date (optional): 16.04.2018
Period (optional): 10
Fiscal Year: 2018
Posting Date (optional): 16.04.2018
Select Journal Entry Select relevant document and choose Reverse.
Enter Reversal Data In the Reverse Journal Entries Details screen,
make the following entries and choose OK.
Reversal Reason: for example, 01
Posting Date: (optional) 16.04.2018
Screen shot for Reverse Document, Header Data:
3. Post (Ctrl+S) the reverse document.
Result
When you post the reversal, the system reverses the source document. The selection of the reversal reason allows you to give the transaction figures
(following the reversal) the status they would have had without posting the reversed document and its reversal document. This type of reversal is called a
negative posting.
2.7 Month End Closing

Use
In this activity, you close the monthly posting periods

Procedure
1. Open “ Open Posting Periods" from Fiori Launchpad.
2. In the Search fields, make the following entry and choose company code 1000.

Field name Description User action and values Comments

Enter Details In the Search fields, make the The list shows entries for company code 1000. Enter Details
following entry and choose
Go.
Company code: 1000
Select Period Select a line from the Posting The Open Periods Interval: Company Code Select Period
Periods pane and choose Set 1000) – Leading Ledger screen displays.
Posting Periods.
Set Period Enter the period and year Set Period
information and choose OK.

Screen shot for Open posting periods initial screen:

Press Go
Result
Posting period set open successfully.
2.8 Trial Balance
Use
This is the procedure which is used to view the Trail Balance Report

Procedure
1. Open “Trial Balance” App. from Fiori Launchpad.
2. Make following entries.
Field name Description User action and values Comments
Enter Details Make the following entries:
Ledger: OL for leading ledger with local GAAP
Company Code: 1000
Posting date from: for example, 01.01.2018
Posting date to: for example, 16.04.2018
Display Report Choose Go.

Press Go
Screen shot for Trial Balance report.

Result
Trail Balance Report view.