Unit 5 Lesson 2 Financial Accounting

General Ledger

General ledger postings may be the result of :

·         Operational transactions (issue of goods causes material issue posting) if the SAP Materials Management (MM) system is active and integrated

·         Posting transactions in subsidiary ledgers (assets acquisition in fixed assets) if the SAP Asset Accounting (FI-AA) system is active and integrated

·         Transactions originally assigned to the general ledger if the general ledger (FI-GL) system is active

Subsidiary ledgers are completely and comprehensively integrated with GL accounting on the following levels:

·         Master data

·         Trasaction data

·         Reporting

Integration of master data comprises the shared chart of accounts and all account assignment elements of the subsidiary ledgers including cost accounting.

The integration of posting data is reflected in the general ledger through subsidiary ledgers.

Financial accounting

A shared database means:

·         Non redundant data creation and maintance

·         Documentation and review system that can be clearly verified at any time

·         Complete access to all applications

·         Reporting and information system that can be fully customized

Account receivable

Account receivable component is responsible for monitoring and controlling customer account within SAP R/3’s Financial Accounting component.

Account analyses, alarm reports, due date lists, and a flexible dunning system all make it easier to keep track of open items.

Account payable

SAP R/3’s FI Account payable component managers accounting data for all vendors. It is also an integral component of the acquisition process.

Accounting documents

Accounting documents are the result of a posting in Financial Accounting. There are 2 types of documents:

·         Original documents

·         Processing documents

Examples of original documents:

·         Receipts

·         Invoices

·         Checks

·         Bank statements

Examples of processing documents:

·         Accounting documents

·         Sample documents

·         Recurring entry documents

Payments

When you enter documents, the system checks whether the minimum account assignments have been made, for example document date, posting date ,document type ,posting key, account number and amount.

Travel management and expense reimbursement

Trips cost time and money not only for the person travelling, but for everyone involved in the planning, approving, verifying and accounting of trips. Today , travel management is expected to support all the business processes involved with a business trip in one single procedure.

Payment and transfer to payroll accounting

Payment of expenses can be accomplished via Financial Accounting, Payroll Accounting or data medium exchange (DME) with credit institutions. Whether travel expenses are paid via payroll accounting in your company or not, the results are transferred to payroll accounting if there are additional amountsfor taxation.