How do you post a contra entry in SAP?

How do you post a contra entry in SAP?

How do you post a contra entry in SAP?

How do you do a contra entry? In the credit side of the contra book ‘By Bank A/c’ will be entered under the particulars column and the amount will be entered in the cash column. And all such contra entries are denoted by writing the letter ‘C’ in the L.F. column, on both sides of the cash book.

How do you post an entry in SAP? Post To Cost Center in SAP
Enter the Document date.
Enter the Company code.
Enter G/L Account for the Debit Entry which is to be posted to the Cost Center.
Enter Debit Amount.
Enter the Cost Center in which the Amount is to be posted.
Enter G/L Account for Credit Entry.
Enter Credit Amount.

How do I post a GL account in SAP? Procedure
From the SAP Easy Access screen, choose Accounting Financial Accounting General Ledger Document Entry Enter G/L Account Document .
To display the tree, choose Tree On .
Select the document to be posted under Held Documents .
The document you entered previously appears.
Choose .

How do you post a contra entry in SAP? – Related Questions

What is contra entry give two examples?

Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example: Cash received from debtors and deposited into bank.

What are the three golden rules of accounts?

To apply these rules one must first ascertain the type of account and then apply these rules.
Debit what comes in, Credit what goes out.
Debit the receiver, Credit the giver.
Debit all expenses Credit all income.

Which is not a contra entry in cash book?

Credit and Debit entries are both taken into consideration into the cash book and not necessarily only bank or only cash entries are reflected.

What is SAP FB50?

FB50 is a single-screen transaction of SAP which enables posting multiple line items in one screen.

What is FB05 SAP?

FB05 is a generic transaction to clear the vendor/ customer open invoices manually. FB60 is the enjoy transaction that allows you to post vendor invoices.

What is FB08 SAP?

FB08 (Reverse Document) is a standard SAP transaction code available within R/3 SAP systems depending on your version and release level.

What is the Tcode for document posting journal entry?

How to post a journal Entry in SAP FI

What is the difference between FB50 and F 02?

FB50 allows for posting which involves direct postings to GL accounts only.
as well as it gives the user the flexibility to enter the posting keys.
Hence F-02 allows direct as well as indirect postings to the GL accounts.

What is the Tcode for trial balance in SAP?

SAP Trial Balance Transaction Codes
# TCODE Description
1 RFACTS1_BL FACTS 1: trial balance
2 F.01 ABAP Report: Financial Statements
3 F.08 G/L: Account balances
4 FBL3N G/L Account Line Items
51 more rows

What is BRS?

For reconciling the balances as shown in the Cash Book and passbook a reconciliation statement is prepared known as Bank Reconciliation Statement or BRS. In other words, BRS is a statement which is prepared for reconciling the difference between balances as per cash book’s bank column and passbook on a given date.

What is petty cash book?

The petty cash book is a recordation of petty cash expenditures, sorted by date. In most cases, the petty cash book is an actual ledger book, rather than a computer record. This format is an excellent way to monitor the current amount of petty cash remaining on hand.

What is cash book?

A cash book is a financial journal that contains all cash receipts and disbursements, including bank deposits and withdrawals. Entries in the cash book are then posted into the general ledger.

What are the 5 types of accounts?

The chart of accounts organizes your finances into five major categories, called accounts: assets, liabilities, equity, revenue and expenses.

What are 3 types of accounts?

What Are The 3 Types of Accounts in Accounting

What are the 5 basic accounting principles?

What are the 5 basic principles of accounting

What is contra entry give an example?

Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example: Cash received from debtors and deposited into bank.

What is contra entry how is it distinguished from other entries in cash book?

The term ‘Contra’ refers to the opposite side. When both aspects (Debit and Credit) of a transaction are recorded in the same account but in different columns, each entry whether in the debit side or in the credit side shall be demand to be the contra entry of the other. Cash deposited into the hank Rs. 10,000.

Frank Slide - Outdoor Blog
Logo
Enable registration in settings - general