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FINANCIAL ACCOUNTING OVERVIEW. CONTENT. Chapter 01 - Enterprise structure Chapter 02 - General Ledger Chapter 03 - Accounts Payable Chapter 04 - Accounts Receivable Chapter 05 - Asset Accounting Chapter 06 - Cash Management Chapter 07 - Miscellaneous. Enterprise structure.
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FINANCIAL ACCOUNTING OVERVIEW
CONTENT Chapter 01 - Enterprise structure Chapter 02 - General Ledger Chapter 03 - Accounts Payable Chapter 04 - Accounts Receivable Chapter 05 - Asset Accounting Chapter 06 - Cash Management Chapter 07 - Miscellaneous
Organizational Structures in R/3 CO Operating Concern CO Controlling Area SD MM Sales Organizations Purchasing Organizations FI Company Codes MM Valuation Areas MM Plants Storage Locations/ Batch/ Special Stocks MM
Organizational Structures in R/3 Overview Organization Entities in Finance Client Chart of Accounts ONTX Deprec Area Belg Deprec Area Nede Deprec Area De Deprec Area TR CoCd 0100 CoCd 0200 CoCd 0300 CoCd 0310 CoCd 0800
General Ledger • Master Data • G/L Accounts • Transaction Data • Document types : header + line items • Postings • Closing procedures • Monthly • Yearly • Reporting • Group • Legal
Master data : Chart of accounts concept Client G/L Account 1730000 bank loan Bal. sheet account X Account group Fin. . . Chart of Accounts ONTX G/L Account data Company 0800 Currency YTL Line item display x Company 0100 Currency EUR Line item display x Company 0100 Company 0800 Add. G/L Account data
Master data : take over - mapping • Approach • Map local accounts to operational accounts • Identify additional local accounts • Translate used accounts in Turkish (short/long) • Copy accounts to company code • Load alternative (local) chart of accounts • Timing : finished at end of blueprint phase
Transaction Data : document types One Business Transaction = One Document BT BT BT
Transaction Data : document types Structure of a document Header Data Line item Data
Transaction Data : document types Document header Line item 1 Line item 2 Line item 3 Balance = 0 Document Header Posting date Document number Document type Currency ...
Document type = journal Outgoing invoice e.g. RX Incoming invoice e.g. KR Bank e.g. SB Transaction Data : document types
Number Ranges Transaction Data : document types Internal Assignment External Assignment SAP Documents Master Data Number Range
Document Line Item Document header Line item 1 Line item 2 Line item 3 Balance = 0 Transaction Data : document types Posting keys Special G/L transactions Automatic Line items Additional Account Additional Assignment
Posting keys Transaction Data : document types DEBITS CREDITS PK 01 Invoice 02 Reverse Credit Memo 05 Outgoing Payment PK 11 Credit Memo 12 Reverse Invoice 15 Incoming Payment CUSTOMERS: PK 21 Credit Memo 22 Reverse Invoice 25 Outgoing Payment PK 31 Invoice 32 Reverse Credit Memo 35 Incoming Payment VENDORS: PK 40 Debit entry PK 50 Debit entry G/L a/c: 60 . . . 80 . . . 70 . . . 90 . . .
Posting periods : central maintenance 16 Transaction Data : document postings
Taxes on Sales/purchases Tax base for tax calculation All required tax rates defined Determination of due dates for tax payment Tax calculation procedures Tax base for cash discount Dependent taxes as surcharges or deductions Division into deductible and non-deductible taxes Transaction Data : document postings Tax Codes are country specific
Month-end closing General Balance sheet preparations Block postings to previous month (consollidation dpt.) Advance return for tax on sales & purchases Balance sheet & P+L statement for the month Financial statement versions Document and reconcile Posting Data Create balance audit trail …
Month-end closing Ontex closing & reporting Integrity checks Splitting up turnover by product group & country (MCSI) Upload to Frango (ZFR10) VAT declaration Stock list (MRN9) Revaluation (F.05) Splitting wages & salaries (for consolidation purposes) Wages upload
Year-end closing Maintain posting periods Balance lists for previous fiscal year Account balances carried forward (Turkish specific) Reconcile balances Balance sheet preparations Block postings to old fiscal year Create balance sheet & P+L statements Transaction summaries (compact journal + balance lists) Balance audit trail 31
Accounts payable • Master Data • General, legal, purchasing view • Transaction Data • Logistics Invoice Verification • Payment program • Closing procedures • Regrouping • Reporting
Master data : vendors Vendor master Record General data: Weyerhaeuser (900893) Washington Bank detail: BE 685-0497019-59 Client Company 0800 Reconn.acct 44000000 Pmnt terms ZB02 Sort line items 002 Company 0100 Reconn.acct 44000000 Pmnt terms ZB01 Sort line items 001 Company 0100 Company 0800
Intercompany In each company code, others entity of the Group Ontex are identified as a customer account and a vendor account. In consequence, all internal trade will be done in relation with those numbers. Those accounts contain specific trading partner number. All intercompany vendors start with V (e.g. V3400 = Astel)* * Cfr. Customers – but start with I (e.g. I3400 = Astel) Master data : vendors
Logistics Invoice VerificationMIRO Transaction data : LIV Purchase order Goods receipt Invoice receipt
Payment Program Transaction data : payment program Customer/ Vendor Master Records Proposal data Print data Documents Bank Transfer Cheque Payment proposal run Print program Basic payment control data Pay-ment run 2 5 Input parameters 4 1 Edit Summary Report Pay Advice 3
Closing procedures • Intercompany reconciliation (F.2E) • GR/IR clearing : F.13 • GR/IR clearing (incl. tolerances) : MR11 • GR/IR split : F.19 • Regrouping : investment invoices (F101) • Clear down payments (F-44) • Clear customers/Vendors (e.g. rebate agreements) • Balance carry forward
Reporting Purchasing journal (ZFPJ)
Accounts receivables • Master Data • General, legal, sales organisation view • Credit management (FD32) • Transaction Data • Billing • Noted item (test) • Dunning • Closing procedures • Doubtful debtors • Revaluation • Reporting • Aging balance • Sales journal • Credit management (f.31)
Master data : customers Customer master Record General data: Lidl België (207) Gent Client Company 0100 Recon.acct 40000000 Pmnt terms A114 Sort line items 002 Company 0800 Recon.acct 40000000 Pmnt terms A214 Sort line items 001 Company 0100 Company 0800
All customer invoices/credit notes are posted via SD – no manual (financial) invoices possible ! Transaction data : billing
Customer Vendor Master Records Dunning notices Basic dunning parameters/data Input parameters Documents Transaction data :dunning Dunning print & update of records Proposed dunning notices Dunning program 2 4 1 Edit proposal 3
Dunning Configuration Program Dunning procedure Dunning interval No. of dunning levels No. of grace days Dunning levels Dunning notice sort fields Dunning blocks Dunning texts Transaction data :dunning
Closing procedures Transfer doubtful debtors (F103) to other balance sheet reconciliation account
Aging balance Reporting
Sales Journal Reporting
Asset Management • Master Data • Master data, default values & asset explorer • Transaction Data • Acquisition, transfer, retirement • Assets under construction • Closing procedures • Periodic posting • Depreciation run • Reporting • Depreciation table/year
Master data : assets • Divided in different asset classes : • Per class possibility to assign to different accounts • Specific screen layouts • Default values for depreciation areas • Per country a specific chart of depreciation • Different valuation per depreciation area – possibility to have different APC value, depreciation start date, useful life : • Area 01- Book depreciation • Area 02- Tax depreciation • Area 40- IAS (group depreciation) • Possibility to link multiple sub-assets to a main number • Integration with CO via cost center or internal order
Transaction data • Acquisition : • Via MM – purchase order • Via FI – from external vendor/affiliated company • Transfer : • From one asset to another without losing details • Retirement : • Sell with/without gain • scrapping • Assets under contruction : • Gather all costs related : spare parts used, overhead, new parts bought,… • Follow up budget (if applicable) • Capitalize final asset(s) via settlement
Closing procedure • Periodic posting (ASKBN)
Closing procedure • Depreciation run
Reporting • Depreciation details