Journal Entry Posting
Okay, now we have created customer master data here, one and two, and we have also created vendor master data one and two. The next step is to create bank master data and asset master data, but let’s not do it now because we can do this when we go to the respective modules. I need to go to the business transaction session. We have general ledger and account receivable, accounts payable, and so forth. We start with general ledger. We need to post some business transactions in the respective module. In general ledger, we have two business transactions here in this tutorial example. The first one is already done. Initial GL balances posting as per the balance sheet on 1st of January.
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Remember we did this by posting this, and we also saw the financial statement version where these figures are reflected.
Okay, this is already done. This is already done. Now we do this transfer 100 from bank to cash in hand. From bank account, we’re going to transfer 100 to cash in hand account, this is petty cash. It’s also called as petty cash. This normally happens in a company, whereby they will keep some petty cash in the office so that you can pay for petty expenses. As and when the petty cash depletes, they will transfer money from the bank to a cash in hand account. This is a typical journal posting, we normally do this using Company code is FB50 and the menu path is this.
Let’s do it now. Go to, accounting, financial accounting, general ledger, posting, enter G/L account document. This is the one. Okay. This one corresponds to this menu path here. Now double-click.
This company code is, test. Let’s choose our company code. Change company code. Edit or change company code. Put Sun.
Now it’s defaulted to Sun. Choose a document date, function key F4, F2, so that it selects the current date.
Now, the G/L account. GL account is cash in bank. This one should be credited by 100, and the cash in hand should be debited by the same amount. Cash in hand, debit by 100. Simple as that. Simulate.
Yeah, it will ask for the additional date here. Double-click, and you come to D1. Remember, this is not a required step, you can just put the current date as a due on. It’s not really applicable for this transaction, but just to cheat the system, just put in a date. It doesn’t really matter what date you put.
Okay, this field, if you press F1 here, you’ll see the baseline date for due date calculation.
This date is used only in AR invoice and AP invoice, where the due date has to be calculated for the respective invoices. For general posting, it doesn’t really make sense, so just simply put any date, so as this, put a date, go back and simulate.
Have under deducted from cash in bank and under debited and cash in hand, just post it and it’s done.
See, this thing is posted. You can display again.
We have done this transaction, as simple as that. So let us check our financial statement version. Go here, go here, go here, periodic processing, closing. It is in the reporting, information system, balance sheet, channel ledger, there is one, Sun, and execute.
See, the cash in hand has been increased by $100 to 2,000. Cash in bank is reduced by a hundred from the earlier, 8000, it is reduced down to 7900. Okay. There is one more report where you can see the jail balances.
Let me show you. Financial accounting, journal, ledger, account, display/ change line items, remember this report, it’s very important.
You can just choose the cash in bank, company code, Sun, all items, just choose this, all items. No line item display possible.
Let me just show this, and here, please change.
It’s loading, you know why just now the system throw an error message? It was because I was using the old report.
In ECC6.0, we have introduced a new G/L account set, and therefore, you have to use only new G/L reports to access the G/L account balances. See, the earlier balance of this cash in bank is 8,000 since we have credited 100. See this transaction, it’s a document number. This document number belongs to the initial balance sheet upload.
Just double-click this. We’ll show you the details of the document. Okay, if not, I just zoom it here and press this.
It takes you to the source document from which the posting was made to you. You see this 8,000, cash in bank was made when we posted this document. Can you recognize this document? This is the first ever document that we posted to post the G/L balances from the balance sheet.
I show you how to go here again, just point here, point this glasses sign, and get this, and then you press overview.
This one is showing only that particular line item, but if you want to see the entire document, just press this. You can see the entire document.
If I double-click, I’ll go to the line item.
Alright, once again, you go here, press this, see the particular line item, 8000, when I go to the overview, I see all the other line items in the same document.
You can go to a particular line item and go back here.
Now this one, this is the cash transfer document that you posted.
Similarly, I can zoom in. Zoom in here, I see the whole document. Just press the overview.
I can retrieve back the document.
Alright, so just remember to use this report, not this one because in ECC6.0, only this will work because of the new G/L concept.
You see this word, new? In fact, in many other steps, you’ll see this new remark, so just choose new if you’re using ECC6.0. If you’re using other versions like SAP4.6C, then you won’t see this remark, new, you will see only this. In those cases, you can choose this, but for the newer versions like ECC5.0, please use this.
If you use this, you’ll get error message like what I got just now, so it is better not to use it.
Now cash in hand. Let’s check cash in hand. Choose all items, 2000, and this is posted from the initial balances upload, 2000, and this one is a transfer that we made.
All right. We are done with these postings. We go to the next topics which is, accounts receivable module where we can see the AR sales and all that.
You may watch the full course on the following YouTube link
https://www.youtube.com/watch?v=0T8N–fUGDQ&list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQ&index=10&pp=iAQB