Accounting Entries in SAP FI module

Accounting entries in SAP are generated for each financial transaction that is entered by a company in the process of recording of transactions. These accounting entries in sap are get posted into financial module when you save the transaction or post it by using cnt+S key in your computer.

Some accounting entries in sap are getting posted directly in SAP FI and others are posted from other modules or sub modules to which SAP Financial module is integrated.

For example we have SAP FI integration with SAP MM and SD module as a result, all inventory related accounting entries in SAP are posted from MM module to FI module and revenue related accounting entries are posted from SD module to FI module.

Accounting Entries in SAP FI module

Followings are some of the accounting entries in SAP that get posted to FI;

Accounting Entry during Goods Receipt

Stock Account  Dr

GR / IR Account Cr

Accounting Entry during Invoice Verification

GR / IR Account Dr

Vendor Cr

Accounting Entry when Goods are issued to the Production Order

Consumption of Raw Materials Dr

Stock Account Cr

Accounting Entry when Goods are received from the Production Order

Inventory A/c  Dr

Cost of Goods Produced Cr

Price difference  Dr/Cr

(Accounting entries in sap posted depending on the difference between standard cost and actual cost)

Accounting Entry when Goods are dispatched to customer through delivery

Cost of Goods Sold Dr

Inventory Cr

Accounting Entry when Goods are issued to a Cost Center or charged off against expenses

Repairs and Maintenance     Dr

Inventory A/c Cr

Accounting Entry when Goods are stock transferred from one plant to another

Stock A/c Dr (Receiving location)

Stock A/c Cr (Sending location)

Price difference Dr/Cr

(Accounting entries in sap due to any difference between the standard costs between the two locations)

Accounting Entry for revaluation of Stock

Stock A/c Dr/Cr

Inventory Revaluation A/c Cr / Dr

Accounting Entry when Work in Progress is calculated

Work in Progress A/c Dr

Change WIP A/c Cr

After posting you can not delete these accounting entries in sap. If you find any mistakes in these accounting entries then such it can get reversed in SAP FI module and then can get corrected by passing another accounting entry for the same transaction or through some other module with the correct figure.

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