Generally, goods provided to the organization are paid for after receipt. It may be necessary to provide a known and reputable vendor with an advance payment (prepayment). To deal this kind of situation SAP has provided certain option to customize to get the process accounted to Financial Module.
Follow the following steps in SAP:
Create Special GL Account ‘Advance to Vendors (Reconciliation Account)’ under current assets
T Code: FS00
Things to be remembered while creating the GL account for advance to vendors;
Field status should be set to: G067
Reconciliation Account should be set to: Vendor
Short Key should be set to: 012
Link the Sundry Creditors and Special GL Indicator ‘Advance to Vendors’
T code: OBYR
Double click on Special GL Indicator: A for down payment on current assets
Put the special GL account against the reconciliation account. If you have more than one reconciliation account then against each reconciliation account you need to mention the special gl account.
Down Payment Postings
Now you can do the down payment posting by using T Code: F-48
Purchase Invoice Postings
After down payment you can use T Code: F-43 for invoice posting
Transfer the down payment from Special GL to normal item by clearing special GL account
To transfer the down payment to clear it with the normal invoice posting use T Code: F-54
Clearing of Normal Item
Finally use T Code: F-44 to clear the normal item
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