SAP FICO (AP) Procurement Cycle Process.

Prerequisites to be done:
‡ 1.Business area creation in FI-GL ‡ 2. GL account creation for Inventory a/c in FIGL ‡ 3. Vendor Group and Master data creation in FI-AP ‡ 4.House Bank Creation in FI-AP

Goods Receipt/ Invoice Receipt in MM Module ‡ Step 4.Procurement Cycle in FI-AP. Purchase Requisition in MM Module ‡ Step 2. Invoice posting ‡ Step 5. Vendor payment Posting . ‡ Step 1. Purchase Order in MM Module ‡ Step 3.

since it is a document of request raised internally. . It can be created both manually and automatically. There is no accounting document generated.Purchase Requisition: ‡ The purchase requisition in the internal document and identifies a demand for a product in within the company.

It is a legal contract between the buyer and the vendor. .Purchase Order: ‡ Purchase order is the order raised by the company to the vendors to place an order as required from the PR.

if goods delivered first and invoice received latter or may be the case where the invoice is received first and goods delivered latter. In the above case the transaction is recorded in the GR/IR account and subsequently the invoice is recorded when received. . For Instance .GR/IR Account: ‡ GR/IR account is the provisional account for recording the transaction.

When GR/IR account is posted the account entry. ‡ Inventory A/c ---------------Dr ‡ GR/IR A/c ------------------------Cr .

T-Code : FB60 ‡ GR/IR A/c --------------------Dr ‡ Vendor A/c --------------------Cr .Vendor Invoice recording: When Invoice is posted the account entry.

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Payment made : When Payment made in FI the account entry. T-Code F-53 ‡ Vendor A/c -------------------Dr ‡ Bank Clearing A/c -----------------Cr .

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.‡ SAP FICO (AR)Sales Cycle Process.

Customer Group and Master data creation in FI-AR ‡ 4. GL account creation for sales a/c in FI-GL ‡ 3.Prerequisites to be done: ‡ 1.House Bank Creation in FI-AP .Business area creation in FI-GL ‡ 2.

‡ ‡ ‡ ‡ Step 1.Sales Cycle in FI-AR. Payment Received recording in FI module . Goods Receipt/ Invoice Receipt Step 3. Sales Invoice recording Step 4. Sales order SD Module Step 2.

Quantity and so on as ordered by the customer.Sales order: ‡ SO contains the information like Customer name. Product. .

In the above case the transaction is recorded in the GR/IR account and subsequently the invoice is recorded when received. For Instance . . if goods delivered first and invoice received latter or may be the case where the invoice is received first and goods delivered latter.GR/IR Account: ‡ GR/IR account is the provisional account for recording the transaction.

When GR/IR account is posted the account entry. ‡ GR/IR A/c ---------------Dr ‡ Cost of Goods Sold A/c----------Cr .

Invoice Recording: T-Code : FB70 ‡ Sales/Revenue A/c -------Dr ‡ Customer A/c ----------------Cr .

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Payment received: T-Code : F-28 ‡ Bank Clearing A/c ---------Dr ‡ Customer A/c --------------Cr .

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