ACCOUNTS RECEIVABLES OVERVIEW
The Accounts Receivable application component records and administers accounting data of all customers. It is also an internal part of Sales Management.
All postings in Accounting Receivable are also recorded directly in the General Ledger. Different G/L accounts are updated depending on the transaction involved (for ex: Receivables, Down payments, and Bill of exchange). The system contains a range of tools that you can use to monitor open items, such as account analysis,alarm reports,due date lists, and a flexible dunning program. The correspondence linked to these tools can be individually formulated to suit your requirements. This is also the case for payment notices,balance confirmations,account statements, and interest calculations, incoming payments can be assigned to due receivables using user-friendly screen functions or by electronic means such as EDI and Data telecommunications.
The payment program can automatically cay out direct debiting and down payments.
There are a range of tools available for documenting the transactions that occur in accounts receivable, including balance lists, journals, balance audit trails, and other standard reports. When drawing up financial statements, the items in foreign currency are revalued, customers who are also vendors are listed, and the balances on the accounts are sorted by remaining life.
Accounts receivable is not only one of the branches of accounting that forms the basis of adequate and orderly accounting. it also provides the data required for effective credit management, (as a result of its close integration with the sales and distribution component), as well as important information for the optimization of liquidity planning, (Through its link to cash management).
To process receivables-related dispute cases, for Ex: Payment reductions, you can use the components SAP Dispute Management.
Posting Keys:
⇒ Customer Debit: 01
⇒ Customer Credit: 15
⇒ Sundry Debtors Bill of Exchange debit: 09
⇒ Sundry Debtors Bill of Exchange credit: 19
Document Types:
DR- Customer Invoice
DZ- Customer Payment
DA- Customer Document ( Transfers/Reversals)
AR- (Customer Accounts) is a Subsidiary Ledger of sundry debtors & sundry debtors is a reconciliation account under Current assets.
Basic settings for Accounts Receivables:
1) Creation of Customer A/c Groups like FI Customers and SD Customers with Reconciliation Account Field mandatory – OBD2
2) Creation of number ranges for Customer Accounts – XDN1
3) Assign Number Ranges to Customer Account Groups – OBAR
4) Creation of GL Master
⇒ Sundry Debtors – FS00
⇒ Sales Accounts – FS00
5) Creation of Customer Master – XD01
6) Document types and Number Ranges for KR, KZ & KA – OBA7
7) Customer Invoice Posting – F-22 & FB70
8) Display The Customer Line items – FBL5N
All postings in Accounting Receivable are also recorded directly in the General Ledger. Different G/L accounts are updated depending on the transaction involved (for ex: Receivables, Down payments, and Bill of exchange). The system contains a range of tools that you can use to monitor open items, such as account analysis,alarm reports,due date lists, and a flexible dunning program. The correspondence linked to these tools can be individually formulated to suit your requirements. This is also the case for payment notices,balance confirmations,account statements, and interest calculations, incoming payments can be assigned to due receivables using user-friendly screen functions or by electronic means such as EDI and Data telecommunications.
The payment program can automatically cay out direct debiting and down payments.
There are a range of tools available for documenting the transactions that occur in accounts receivable, including balance lists, journals, balance audit trails, and other standard reports. When drawing up financial statements, the items in foreign currency are revalued, customers who are also vendors are listed, and the balances on the accounts are sorted by remaining life.
Accounts receivable is not only one of the branches of accounting that forms the basis of adequate and orderly accounting. it also provides the data required for effective credit management, (as a result of its close integration with the sales and distribution component), as well as important information for the optimization of liquidity planning, (Through its link to cash management).
To process receivables-related dispute cases, for Ex: Payment reductions, you can use the components SAP Dispute Management.
Posting Keys:
⇒ Customer Debit: 01
⇒ Customer Credit: 15
⇒ Sundry Debtors Bill of Exchange debit: 09
⇒ Sundry Debtors Bill of Exchange credit: 19
Document Types:
DR- Customer Invoice
DZ- Customer Payment
DA- Customer Document ( Transfers/Reversals)
AR- (Customer Accounts) is a Subsidiary Ledger of sundry debtors & sundry debtors is a reconciliation account under Current assets.
Basic settings for Accounts Receivables:
1) Creation of Customer A/c Groups like FI Customers and SD Customers with Reconciliation Account Field mandatory – OBD2
2) Creation of number ranges for Customer Accounts – XDN1
3) Assign Number Ranges to Customer Account Groups – OBAR
4) Creation of GL Master
⇒ Sundry Debtors – FS00
⇒ Sales Accounts – FS00
5) Creation of Customer Master – XD01
6) Document types and Number Ranges for KR, KZ & KA – OBA7
7) Customer Invoice Posting – F-22 & FB70
8) Display The Customer Line items – FBL5N
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