Sales Invoice Posting
Hello. Okay. Now we have done this posting, you can go to account receivable now. Our first business transaction with account receivable is sales of 2000 to customer C001. Okay. Let’s see how we can do that.
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All right. Before we do that, I need to tell you something. We haven’t created our sales account yet, so we need to create a sales account because whatever we created now is only these accounts here.
Until and unless we create a sales account, we cannot post any sales invoices to the respective G/L account. Okay, let’s create it now. Go to FS00. The system is a bit slow now. FS00. Let me show you again.
There is no sales account, so if we create a sales invoice now, we cannot simply post to any of these accounts. It won’t be right. It has to be posted to a sales account, which is a revenue account.
Alright, understand? So, before that, I need to find out the proper number that I have to use, right? Let me just check it out. Go to account group. Let me go to account group. Let me close a few sessions so that it’ll run faster. Let me close this. Okay. Go to account group, here, operations, define account group, position to Sun, chart of accounts, share this, sales. We’ve already created the account group for sales and the number range is five-zeros.
Okay. Let me just create my first revenue account here, and I choose, create.
Let me choose sales account group. Sales is a revenue account, so you have to choose PNL. It’s not a balance sheet account, so let’s define it as a laptop series account. That means we are selling laptops. Sales, laptops. Let’s assume that we are into a computer hardware business. We are selling laptops, desktops, servers, and so forth. This is the account which will be posted when a laptop is sold.
Okay. Let’s see. You need to specify a field sales group. It’s a revenue account, so you specify a revenue account here. Alright. This is just a tax, okay. It doesn’t control the type of the account. This is just a normal tax. By looking at the revenue accounts here as a tax, it doesn’t mean that only if I specify this, it will become a revenue account. No, it doesn’t mean like that. This is a freely definable tax. It doesn’t control the type of the account. I can even choose this. I can even choose this. The system will still allow me to save this G/L account, even if I choose this. If I choose any of this, it doesn’t really matter, okay? This tax revenue accounts don’t have a system control, it just allows, as I said earlier, it just allows the display of certain fields and hides certain fields that you don’t want.
Okay. Let me save it. You can just go to the sales invoice posting screen. That is under account receivable, document entry, invoice, here, choose the customer.
Before that, you need to change your company code. Change company code. I can choose this one, Sun.
I have two customers created already, so let me post to the first customer. Choose the current date. Amount is 2000, right? G/L account. This is where you are to enter the G/L account that we created just now. It’s a line item. See this, sales – laptop? We are selling laptop.
See this? Just you see someone we created just now, right? Alright. 2000 here, 2000 here. This amount can be distributed to multiple G/L accounts. For example, the customer, let’s say he buys one laptop, one server and one desktop, we have to create a separate G/L account for servers and desktops, and then, we can put a total amount here, and then, distribute the amount here according to the laptop cost, server cost, and desktop cost.
Okay, but let’s not complicate the topic here and just stick to one laptop sales and simulate. Yeah, you have 2000, 2000. 2000 posted to customer B and 2000 posted to revenue account sales.
It’s not very simple. Let me show you something else. You need to calculate the tax. All sales advisors are taxable in any country, but I’m not going to show you tax now because it’ll complicate the issue, so we keep the tax module for advanced training later on.
Let’s proceed to post this. Alright, posted. It’ll take a while. Posted now. It’s a document number generator. Display. Debit customer B, credit, sales – laptop. That’s how the posting for any sales invoice will be.
There’s one more place where you can see the posting, that is FB03. You must remember the document number. If you don’t remember the document number, what you can do is click this document list, you’ll get an expanded list selection screen. Company code, Sun. You click this own documents, so that it will display only the documents created by your user ID and not anybody else, and you can enter the fiscal year which is 2009 and execute.
Just ignore the message. You see all the documents posted. This is a sales invoice. This is the G/L balance sheet upload, and this is the transfer of money from bank to cash account, and this is the sales invoice, the first sales invoice that we posted just now. Okay, just double-click.
Alright, so let’s check our account balances. Firstly, let us go to financial statement over here, accounting, financial accounting, general ledger, information systems, general ledger reports, this one, Sun. Execute
Sales, 2000, and trade debtors is 2000. Okay, let me explain something here. This is something very important. Go to display document entry. You see this sales here, Customer B, this is the customer account, this is not a G/L account.
Okay, if I take you to the customer, let me just open the customer. FT03 is a customer master data display, 5001. Do you see this? Recon account. This is the customer account, customer number that we posted this amount to, but this is not the G/L account.
This customer B is linked to this G/L account. You see this link? You see the difference?
This is the customer number, it’s a running number, which is linked to this G/L account.
When you come to the financial statement, you will notice the amount of 2000 which is posted to the customer B is actually posted to this G/L account. This is very important.
However, the sales revenue account is posted to this account, G/L account. The one that is displayed here is G/L account. It’s a direct G/L account, that’s why there’s no change here. It is still 5000 account, which is 2000. Okay, don’t wonder how come system is posting to a different account here, this is a G/L account.
You can also see here, from the display document here, if you want to see the actual G/L account that is posted to, just double-click here, and you see this, see this, this is the custom number and this is the G/L account it is linked to.
If I double-click this, both will be the same.
But anyway, it won’t show here because there’s no difference. It is directly posted to the GL account.
Okay. For customer and vendor accounts, the figure is posted through the customer number to the G/L account. It’s not direct posting to the G/L account. You must understand this, okay? I’ll explain here.
All right. There’s one more way to see the actual G/L account to which the amount is posted to, that is by clicking this general ledger view. It’s only available in ECC 5.0 and ECC 6.0.
When you click that, you will see this. The account number changed to the G/L account and the description changed to the G/L account description trade debtors, but this remains the same.
Okay. Once again, this is the original view, right? Entry view is the original view. From here, if I click here, I come here.
See this? See the difference? I go back to entry view. This is the difference between entry view and general ledger view. Whereby, in entry view, the system will show the data that is posted according to the document.
It will not show how the posted amounts are reflected in the general ledger accounts. If you want to see how the posted amounts are reflected in the general ledger accounts, you have to click here. This is how it is reflected.
Let me go back to Entry View. Okay. What else now? I think that’s about it. We have posted the sales. I think we should do this together also. So sales of 3,000 to customer C002, the next customer. Let’s do it now.
All right, better not. I’d rather do it in the next topic because this is linked to this transaction, so we do these two together. Okay, let’s stop my topic here.
You may watch the full course on the following YouTube link
https://www.youtube.com/watch?v=HbHCLRZCpz8&list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQ&index=13&pp=iAQB