General Ledger Account Clearing Process


This document refers to the process of general ledger account clearing by using both automatic clearing program as well as manual clearing.

Common Business Requirement

Certain GL accounts such as withholding tax, bank sub accounts, GR/IR accounts will always have an offsetting posting for a business transaction. Each line item will have its corresponding contra line item which would have already been posted or will be posted subsequently. E.g., when a cheque is issued, a credit posting is done to the bank outgoing payment sub account and when the bank statement is received, a debit posting is done to the same account. These line items need to be identified and cleared periodically. The clearing of accounts will ease the process of reconciliation of the balance sheet accounts such as accrual accounts and suspense accounts.
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Journal Entry Process

This guide refers to the process of making adjustments via journal entries in the SAP General Ledger Accounting (FI-GL) module.

Common Business Requirement

Journal entry processing is used to maintain all the entries made directly to the GL module. Therefore, all the transactions which are not relevant to Accounts Receivable (AR), Accounts Payable (AP) and Assets Management (AM) are to be processed as journal entries in the GL module. There are various events (usually month-end activities) that will trigger the need of journal entries posting.
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SAP Table Description

Since SAP uses tables to store every information and transactions, is there any standard SAP table which contains the names and description of all defined tables.

How to find the description of each table in SAP system?

SAP table name: DD02V is a standard SAP table which contains description of all tables in SAP. Further information of each table are stored here.

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