What is validation rule in sap?
Validation rules are set with transaction code OB28. These validation rules are defined to enforce certain conditions while posting FI document.
In validation rule, certain prerequisite check has to occur for the validation check to take place. If these checks are not met then sap will return an error message.
What is the difference between internal and external number assignment in FI number range?
In internal number range, sap determines the number and assigns the next available sequential number to the document or master data. After the assignment, sap will keep the next available number ready for assignment to the next document or master data. With this type of assignment its not possible to lose track of any document or master data as everything will be sequentially numbered.
Where as in external number range, the end user who is creating the master data or posting a document has to manually enter the number in sap. In external number range, numbers are randomly entered as it depends on different users and they don’t enter document numbers sequentially. With this type of assignment it very easy to lose track of documents.
What is the accounting entry for goods receipt?
Goods receipts are done in Material management (MM) module and the accounting entry get posted from MM to FI module through integration. At the time of goods receipt, inventory goes up so this account is debited. As debit must be equal to credit, so we need to credit an account. At this point we can not credit vendor account till the time of receiving invoice copy from vendor. So for the time being we have to credit Goods Receipt/Invoice Receipt Clearing Account (GR/IR Clearing A/c) for an equal amount.
Following Entry posted at the time of goods receipt:
Inventory A/c Dr
GR/IR Clearing A/c
At the time of invoice receipt the GR/IR clearing account has been cleared and the vendor account has been credited.
What the balance in GR/IR Clearing Account Indicate?
Balance in GR/IR clearing account indicates, the value of inventory received by us for which we have not yet received the invoice from vendor i.e. value of goods received but not invoiced.
What is sort key and why it’s used in sap?
Sort keys are used in different master records like customer, vendor and general ledger master. Sort key will determine the value that need to be populated in the document line items of a financial accounting posted in sap.