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End To End GL Accounting Process SAP FI

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Kaushik Savle
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169 views4 pages

End To End GL Accounting Process SAP FI

Uploaded by

Kaushik Savle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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End-to-End Process of GL Accounting in SAP FI

1. Configuration

Before starting the GL Accounting process, configure the system.

Step 1: Define Chart of Accounts (CoA)

- Path: SPRO -> Financial Accounting -> General Ledger Accounting -> Master Data -> Chart of

Accounts -> Define Chart of Accounts.

- Create a new Chart of Accounts or use an existing one.

- Assign this CoA to your company code.

Step 2: Define Account Groups

- Path: SPRO -> Financial Accounting -> General Ledger Accounting -> Master Data -> G/L

Accounts -> Define Account Groups.

- Account groups categorize G/L accounts (e.g., assets, liabilities, expenses, revenues).

Step 3: Create G/L Accounts

- Transaction Code: FS00 (Centrally).

- Enter details like Account Type (Balance Sheet/Profit & Loss), Control Data, and Company

Code-specific settings.

Step 4: Define Fiscal Year Variant

- Path: SPRO -> Financial Accounting -> Financial Accounting Global Settings -> Fiscal Year ->

Maintain Fiscal Year Variant.

- Assign the fiscal year variant to your company code.


Step 5: Assign Field Status Variants

- Path: SPRO -> Financial Accounting -> Financial Accounting Global Settings -> Document -> Line

Item -> Assign Field Status Variant.

- Control field statuses (e.g., mandatory, optional, hidden) for data entry.

2. Master Data Maintenance

- Ensure master data is ready before posting transactions.

Step 1: Maintain G/L Accounts

- Validate the correctness of created accounts using FS00 or FBL3N.

3. Posting Transactions

Begin the GL accounting process by recording financial transactions.

Step 1: Post General Journal Entries

- Transaction Code: F-02 or FB50.

- Steps:

1. Enter the document date, posting date, and period.

2. Specify debit and credit amounts with G/L accounts.

3. Add a description (narration) and save.

Step 2: Reverse Journal Entries (if required)

- Transaction Code: FB08 (Full Reversal) or FBRA (Partial Reversal).

- Use to correct any mistakes in posted entries.

Step 3: Recurring Entries (Optional)

- Transaction Code: FBD1 (Create Recurring Entry).


- Automates periodic transactions (e.g., monthly rent or depreciation).

4. Period-End Closing

Step 1: Perform Accruals/Deferrals

- Transaction Code: FBS1.

- Post accruals for income or expenses that span multiple periods.

Step 2: Reclassify Accounts (if needed)

- For example, reclassify short-term liabilities or prepaid expenses.

Step 3: Run Foreign Currency Valuation

- Transaction Code: FAGL_FCV.

- Adjust balances for exchange rate differences.

5. Reconciliation and Reporting

- After posting entries, ensure the accounts are balanced and generate reports.

Step 1: Reconcile GL Accounts

- Use the Trial Balance (F.01) or Line Item Reports (FBL3N) to validate.

Step 2: Generate Financial Statements

- Transaction Code: F.01 (Trial Balance) or S_ALR_87012284 (Profit & Loss Statement).

- Confirm that entries align with reporting standards.

6. Month-End and Year-End Activities

Step 1: Open/Close Posting Periods

- Transaction Code: OB52.


- Open/close periods as per the business calendar.

Step 2: Carry Forward Balances

- Transaction Code: F.16.

- Carry forward balances to the next fiscal year.

Key Transactions in GL Accounting:

| Transaction Code | Purpose |

|------------------|-----------------------------------|

| FS00 | Create/Maintain G/L Account |

| F-02, FB50 | Post General Journal |

| FB08, FBRA | Reverse Entries |

| F.01, FBL3N | Reporting and Analysis |

| OB52 | Open/Close Posting Periods |

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