Expense A/c / Balance Sheet A/c
Hi Gurus,
Please clearify my doubt about Expense A/c / Balance Sheet A/c,
As per my knowledge what ever is amount / allowance is paid that will come under Expense A/.c (C),
All Deductions and Employer's contributions comes under Balance Sheet A/c (F). Here my doubt is emplyee having some deductions like statutory deductions comes under Whcih A/c, is it C or F.
And give me your valuable suggestions on this and let me get knowledge about my querry from you people.
I appreciate your valuable support and encouragement,
Thanks,
Hasini
Hi Sai Vindhya Hasini
Here r the balance sheet account
Text A/c Summation
Administration charges EPF&FPF-Payable Business Area
Bank loan Personnel number
Bonus Payable Business Area
T D S Payable - Salary (Sec 192) - ECESS Personnel number
EPF Payable Business Area
ESI Payable Business Area
Festival Advance Personnel number
Incentive Vendor wise
Labour Welfare fund Payable Business Area
Leave Encashment Payable Business Area
LIC Premium Payable Business Area
Other Loan Personnel number
Profession Tax Payable Business Area
Salary Advance Personnel number
Salary payable Personnel number
Staff Personal loan Personnel number
T D S Payable - Salary (Sec 192) - Surcharge Personnel number
T D S Payable - Salary (Sec 192) - Basic Personnel number
Tour Advance Personnel number
Vehicle Advance Personnel number
Bonus Adavance Personnel number
Medical advance Personnel number
Superannuation Payable Business Area
Other Deduction Payable Business Area
Gratuity Payable Business Area
Stamps in Hand & Food Coupon Stock Business Area
Consultancy Charges - Payable Personnel number
P&L Account
Text A/c Summation
Employer Contribution ADM Charges Cost centre
Bonus - Employees Cost centre
Drivers Salary - Re-Imbursement Personnel number
Employer contribution EDLI Cost centre
Employer Contribution EPF Cost centre
Employer Contribution ESI Cost centre
Employer Contribution FPF Cost centre
Employer Contribution LWF Cost centre
Employer Contribution Gratuity Cost centre
Incentive - Employees Personnel number
Leave Encashment Personnel number
Leave Travel Expenses - Re-Imbursement Personnel number
Medical expenses/Reimbursement Personnel number
Salaries-employees Cost centre
Employer Contribution Superannuation Cost centre
Vehicle Maintenance - Petrol Personnel number
Employer Contribution to GSLI Cost centre
Reagrding C,F,K,Q
this is maintanin in symbolic account
this should be maintained according to ur client requriement how the each line iten should be get posted in FI
Thanks & regards
Vikram.n
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First you need to check which symbolic accounts are assigned to those wage types.
you assign balance sheet accounts to the symbolic accounts with the following account assignment types posting to balance sheet accounts without personnel numbers (Account assignment type F).
Enter the Chart of Accounts you require. In the screen Maintain FI configuration: Automatic Posting Accounts . Choose rules to make the settings for the transaction HR Posting to balance sheet accounts (HRF).Assign GL Accounts to the concerned symbolic accounts.
you assign expense accounts to the symbolic accounts used for expense postings (account assignment type C).
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Hi,
I posted cross company document using document type that is already untick in field 'inter-company posting' and 'enter tpid'.
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Co1001 Dr Expense $10
Co1001 Dr Expense $240
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However;
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Hi
I wanted more clarification on the Exchange rate difference the system calculates when we generate a balance sheet and revalue at a fixed rate. The system does not give a breakup of the echange rate calculated. How do we arrive at the exchange rate.
And after having the exchange rate entries posted in the system. Can the system the show these values in the Balance sheet after Revaluation
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FarheenDear Gordan
Below mentioned is the balance sheet which is Revaluated in Euro(System Currency)at a Fixed Rate of 1.42.
at the end of this report we can see that the system has calculated Exchange rate difference as Euro -66483.03 .We want a break up of that amount which is calculated by the system
Account Name Beginning of Year(EUR) Current Period(EUR) Beginning of Year(Revaluated by EUR) Current Period(Revaluated by EUR)
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Fixed Assets
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Leasehold Improvements
Computers
Office Equipment
Furniture And Fixtures
Vehicles
Medical Equipments
Tangible Assets
Capital Work-In-Progress
Capital Work-In-Progress - Assets
Investments 104,895.10 104,895.10 104,895.10 104,895.10
Long Term Investments
Short Term Investments 104,895.10 104,895.10 104,895.10 104,895.10
Short term Investments
Long Term Investments 104,895.10 104,895.10 104,895.10 104,895.10
121001 - Equity Investment in Subsidiary-India 104,895.10 104,895.10 104,895.10 104,895.10
Current Assets, Loans And Advances 25,037.04 25,037.04 11,089.20 11,089.20
Current Assets 25,037.04 25,037.04 11,089.20 11,089.20
Inventories
Sundry Debtors
Cash On Hand
Bank Balances with Scheduled Banks In Current Accounts 25,037.04 25,037.04 11,089.20 11,089.20
131401 - Marfin Popular Bank,Limassol,Cyprus-17911136139 9,935.51 9,935.51 9,935.51 9,935.51
131402 - Marfin Popular Bank,Limassol,Cyprus-179132258722 13,940.48 13,940.48
131403 - Marfin Popular Bank,Limassol,Cyprus-179932258780 1,161.05 1,161.05 1,153.69 1,153.69
Bank Balances with Scheduled Banks In Deposit Accounts
Loans & Advances
Loans to Subsidiary Companies
Loans to Employees
Advances Recoverable in Cash or for value to be received
Advances recoverable in cash or in kind
Prepaid Expenses
Advances recoverable prvn.for Doubtdebts
Deposits (General)
Advance Tax/Tax Deducted at Source
Pre-Launch Expenses (Deferred)
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Loan Funds
Secured Loans
Term Loans From Bank
Short Term Loan from Banks
Vehicle Loans
Interest Accured But Not Due
Secured Loan from Companies
Unsecured Loans
Term Loans from Banks
Unsecured loans From Companies
Fixed Deposits
Unsecured loans From Holding Company
Unsecured loans From Subsidiaries
Deferred Tax Liability
Deferred Tax Liability
Deferred Tax Liability
Current Liabilities And Provision 206,065.33 206,065.33 182,467.33 182,467.33
Current Liabilities 182,467.33 182,467.33 182,467.33 182,467.33
Sundry Creditors 182,467.33 182,467.33 182,467.33 182,467.33
231101 - Sundry Creditors - Supplier 182,467.33 182,467.33 182,467.33 182,467.33
Advances From Customer
Overdrawn Bank Balances
Tax Deducted at Source
Tax Deducted at Source - Non Resident u/s 195
Other Taxes
Other Liabilities - Statutory
Other Liabilities - Salary Payables
Provisions 23,598.00 23,598.00
Provision for Expenses 23,598.00 23,598.00
232106 - Provision for Expenses 23,598.00 23,598.00
Income Tax
Accumulated Depreciation
Leasehold Improvements
Computers
Office Equipments
Furniture and Fixtures
Vehicles
Medical Equipments
Software & their License
Technical Knowhow
Equity -76,133.19 -76,133.19 -66,483.03 -66,483.03
Shareholders' Funds 1,176.47 1,176.47
Share Capital 1,176.47 1,176.47
Authorized Share Capital
Equity Share Capital
Issued, Subscribed And Paid Up Share Capital 1,176.47 1,176.47
311201 - Equity Share Capital 1,176.47 1,176.47
Reserves And Surplus
Share Premium Account
Profit and Loss Account
Profit Period -77,309.66 -77,309.66
Exchange Rate Differences -66,483.03 -66,483.03
Edited by: Rekha Nagaraj on Dec 7, 2010 6:14 AM -
When is 'Clearing Balance Sheet' and 'Clearing Inc Stmt item' used?
Hi,
In what circumstances, clearing balance sheet item and clearing inc stmt items are used. Commonly, it's used for balance carry forward task, where system recognized the net profit for the year (in PL) and current ytd profit (in BS).
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Regards, ReneeRene,
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Hi there,
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Cost center empty in general ledger view for balance sheet accounts
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We are implementing ECC6 with new GL functionalities. We activated differents scenarii: cost center, profit center and segment.
Using FB03 (display document) we noticed that in the entry view, everything is fine: cost center, profit center and segment are filled successfully.
However, in the New GL view, the cost center is not filled for balance sheet accounts.
Any solution?
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JulienHI,
Cost center will never be filled for the Balance Sheet account. For Balance sheet account Profit Center is required to be filled.
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Hi Gurus,
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Now, before payment they realized that a portion of 100 should be for Profit Center B. I did a repost of line item, thus creating financial entry also to transfer the Profit Center A to Profit Center B. But this is only for the expense account.
My question is, is there a way to allocate also the portion of 100 for the Vendor and tax line item from Profit Center A to B?
If this is not met, then how can we actually generate balance sheet by profit center.
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You can get the balance sheet as well by Profit Center.. New GL's document splitting functionality is very much equipped to provide that
Once you activate it, and specify pr ctr as the doc splitting characteristic, no document will be posted without Profit center populated in the line items.. However, this is possible only for ECC Version of SAP (5.0 or above)
If you are using Classical PCA, then you have to execute transactions like 1KE* at period end to update Pr Ctr in the balance sheet line items
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Hi All,
I have a situation in which I have to make a prepaid expense from a BS account but want to assign it to an internal order so that when this expense actually occur, I can use this internal order report for all the prepayment made against that expense. I can create a cost element for this BS account but this is not a good practice. Do you guys have any other idea that I can implement here which is good practice and also solve the problem.
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MKRHi
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Hi,
I have a doubt in foreign currency valuation.
When we tick Balance sheet preparation valuation ( in t-code F.05), no reverse postings are generating, eventhough i tick reverse postings. why is this happening?.
What is happening when we use Balance sheet preparation valuation in Foreign currency valuation?
Thanks,
VinayVinay,
Yes as explained earlier it converts balance sheet from one( Local) currency to Another (foreign) currency on a particular date.
For example if your balance sheet currency is EUR and your foreign currency is USD. It will convert EUR into USD on that particular date on all open items and post it to
the expense and revenue accounts for exchange rate differences from valuations. For payable and receivables accounts you must also define the financial statements adjustment accounts.
This is what it happens check your own thread
http://scn.sap.com/message/14258690#14258690
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Error AC305 and AC306 when customize a balance sheet account
Dear experts,
We have several depreciation areas created for a chart of depreciation.
Some of those depreciation areas do not have account effect but have
fiscal effect. For that reason we have set for them (in AO90
transaction) off sheet balance accounts (memorandum accounts).
The problem is that in the country we are working memorandum accounts are not P&L accounts.
When we try to customize then as Expense account for ordinary
depreciation the system displays the following errors:
Message no. AC305- Account GBCL-6400640010 not allowed to be balance
sheet account
Message no. AC306- Account GBCL-6400640010 not defined as
P6400640010L account
Our users told us that those memorandum accounts must be B/S
accounts and never P/L accounts in this country.
Obviously we could change error messages AC305 and AC306 as warnings,
but I was wondering if another solution could be possible.
Thanks in advance.Hi,
U cannot assign a balancesheet account for depreication
I dont understand why they want B/S account there because it cannot record expenses.
The only solutionn is changing message as u have said..
We annot change the accounting rule
Regards,
Amit Shinde -
ITEM GROUP NEEDS TO BE SET UP WITH BALANCE SHEET ACCOUNT
I am trying to set up an Item so that I can charge it to a Balance Sheet account but the Item Group will not let me do this as it only allows me to charge it to either an Expense or Revenue account. Is there a way to correct this or change the current Revenue account it is being charged to a Balance Sheet account on the row level?
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The reason why in some fields you can only have a certain account type is to avoid descrepancies and wrong accounting. They have been set up that way to allow the document flow in business one to create the correct entries.
Please consider that a revenue account will only be posted to once in this flow, there will be no debit balancing the credit in any target document. The same is true for the expenses.
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I am performing currency revaluation for Vendors.
Document splitting is active u2013 Cost Centre u2013 Profit Centre - Segment
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The batch processing -SM35- runs and gives a posting document number.
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