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Former Member

account key

what is accrual keys ?

what is the diff b/w account keys and accrual keys

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    author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2007 at 04:48 AM

    Hi Sabina,

    Accruals are used in rebates. If you are aware about rebates, after billing, accruals generate an accounting entry which is an actual accumalation of discount earned as per the rebate aggrement. So, accrual keys are one of the factors used to determine which accounts have to be posted for rebate amount accumalated.

    Whereas, account keys are one of the factors for deteriming which account has to be posted with the value to the condition type to which it is assigned.

    Regards,

    PATHIK

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2007 at 04:46 AM

    <b>HI

    ACCOUNTS KEY </b>

    The account keys form part of account determination. These keys are used here to define the posting of the revenue generated to respective account heads& to subsequent

    assignment to GL accounts.

    PR00- ERL

    K007/KA00- ERS.

    KF00- ERF………….& so On.

    <b>ACCRUAL KEY.</b>

    The accrual keys form part of account determination. These keys are used here to define the posting of the revenue generated to respective account heads& to subsequent assignment to GL accounts and payment to respective parties.

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2007 at 05:12 AM

    HI,

    Accrual key and Account key both are used to determine G/L Account .

    But this Accrual Key come into picture in case Rebates . As we all know Rebates are always paid Retroactively ( That means at the end of year or perticular mile stone may be Quaterly)

    Accrual G/L account is temporary account ( Generally we already accumulate the Rebate amount to be paid to customer in Accrual account). When we paid the Rebate to customer then the entry should be reverse from Accrual account as well . This account is determine by this Accrual Key .

    Application + Condition type + chart of account + sales org + Customer A/c Assignmnet gp + Material A/C assignmnet gp + ACCOUNT KEY will determine the GL account .

    So here these account keys take part.

    Hope this clarifies a bit

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