FI-MM Integration

So our next topic is integration.  Here, now what is meant by integration? Here integration, if you remember the integration between FI and SD, we have seen. The integration between FI and SD means any invoice that any data that has been generated in sales and distribution module, is going to [...]

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FICO – AP – Withholding Tax -CIN (Part 2)

So after the completion of the configurations, we have to do just 2 more configuration steps. And, one is, we need to activate the country India version settings. Go to Logistics general, tax on goods movements, Go here. India. First is basic settings, go to maintain company code settings. [...]

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FICO – AP – Withholding Tax -CIN (Part 1)

So the other day, we were going through withholding tax, accounts receivable, accounts payable, Financial accounting (new), withholding tax, extended withholding tax. What we have done, we have done the basic settings. In basic settings, check withholding tax countries. We had India and [...]

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AP – Creating Vendor Accounts (Part 2)

Now let me go through the partial payment. Same process. You need not test it. If you are comfortable with the partial payment in case of customer, the same process here. Take here. You can take partial clearing. Out of 1 lakh 35,000, say first we have paid 35,000. 20405 is my bank account. [...]

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AP – Creating Vendor Accounts (Part 1)

Yesterday, we started the accounts payable and posted the entries. We have created the GL account, inventory of raw materials and five recon accounts we have created. Now let us create the vendor account. Master records FK01, FK02 to change, FK03 to display. Company code DRLB, account group. [...]

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FICO Accounts Payable

Here, See, this is the procurement cycle. Procurement cycle, see, requirement to determination means what is the material that is required by see, account payable deals with what Procurement of materials and, maintenance of vendors, making payments to vendors, and of course, it’s a [...]

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AR Cash Discount

Cash discount, when we are going to give discount to the customer, what is the accounting entry?  So here, when sale is made, customer account return to sales. Now when payment is received, bank account return 97,000, discount account return 3 and to customer, we give 100%. This is the [...]

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AR Sales Tax

So the sales invoice looks like basic price, discount,, Add sales tax, then there is the sale price, then add transportation charges, this is the kind this will be done through the sales and distribution module. Your taxes etc will be calculated. But here, the tax, what we are going to [...]

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AR Dunning

So we have customer account, we have outstanding balance of the customer and customer address, everything is available here. Hence, right, just generating the letter and sending, so it’s not a difficult job. A simple process. In case of, say, bills of exchange, we have seen bit heavy, [...]

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AR – Bills of Exchange

Here, company is DRLB, sale made to customer. And, when we make the sale, we’ll be receiving the payment, say, 90 days or 30 days, whatever it may be. And what we do as soon as we receive it, we discount the bill of exchange with the banker, and the banker gives me, out of […]

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