Auto a/c det for Invoice verification

[Former Member]

Hi

What is the procedure for Automatic account determination for invoice verification? not for inventory managment

What are the value strings for invoice verification

Thanks

Raju

[former_member581212 · Accepted solution]

Hi,

G/L account determination is carried out automatically. The following parameters are used for determination:

Chart of accounts

Valuation grouping code

Transaction key

Account grouping

Valuation class

Configuration of Automatic Account Determination with T.Code are as follow:

1.OMSK: valuation Class with Account category reference,

2.OMWM: Active Valuation Grouping Code,

3.OMWN: Active Movement type with G/L account,

4.OMWD: Active Valuation Area,

5.OMWB: Active Chart of account,Valuation Grouping Code,Account Grouping Code,Valuation Class and G/L acocounts

In OMWB or OBYC

Click TE key and enter Chart of account and then save the Roles 1st for

1.Debit/Credit

2.General modification

3.Valuation Modif

4.Vakuation class

The value string is the key...which has a group of valuation class..

Regards,

Priyanka.P

AWARD IF HELPFULL

Edited by: Priyanka Paltanwale on Aug 4, 2008 2:45 PM

[pankaj_singh9]

Hi,

Account Determination: -

Use: - When you post an invoice, the system updates various accounts in Financial Accounting. It determines automatically which amounts have to be posted to which accounts.

Account assignment is based partly on your entries when you enter an invoice, partly on information stored in the system and partly on the system settings.

Prerequisites: - The system administration must define and configure the accounts in the chart of accounts when implementing the ERP system in your company.

Features: -

· Your entries provide the following information:

¡ Which vendor account must be posted to?

¡ Which amounts must be posted?

· The material master record provides the following information:

¡ Which valuation class does the material belong to?

¡ Which type of price control is required for the material?

¡ Which account must be posted to for the material?

¡ Is the stock available smaller than the quantity invoiced?

· Posted documents provide the following information:

¡ What is the purchase order price?

¡ Has a goods receipt been posted for the purchase order?

· The system settings provide the following information:

¡ Is the invoice posted as a net or a gross amount?

¡ Which G/L accounts must be posted to?

Important Accounts for Invoice Verification: -

The following accounts are particularly important for Invoice Verification:

Vendor Account: - There is a separate account in the sub-ledger for each vendor that all amounts concerning this vendor are posted to. Making a posting to the vendor account is not the same as making a payment; payment is only made when the Financial Accounting department posts the vendor's payment to a bank account.

Stock Account: - In the ERP system, there is no separate account for each material. Instead, different materials with similar features are grouped together in a common account (for example, raw materials: acids). The account relevant for a material is defined in the material master record when a material is created.

The system only posts to the stock account when a price difference occurs for an invoice.

GR/IR Clearing Accounts: - The GR/IR clearing account is an u201Cintermediateu201D account between the stock account and the vendor account. At goods receipt, the net invoice amount expected is posted to the stock account. The offsetting entry is posted to the GR/IR clearing account. This posting is then cleared by an offsetting entry on the vendor account at invoice receipt.

Tax Accounts: - The system makes postings to special tax accounts when invoices include tax.

Price Differences Accounts: - Price differences have to be posted to a price differences account if price differences have occurred in an invoice and when invoices are posted net and no posting can be made to the stock account.

Cash Discount Clearing Account: - When you post an invoice net, the cash discount amount is taken into account in the invoice, it reduces the value of the items; the offsetting posting is made to the cash discount clearing account, which is then cleared when payment is made.

Freight Clearing Account: - The stock account is debited with the planned delivery costs at goods receipt and the system makes the offsetting posting to a freight clearing account. This posting is then cleared by an offsetting entry to the vendor account at invoice receipt.

Also refer link;

Account Determination for LIV

[former_member202528]

Hi,

In Value string all possible posting transactions are pre-defined for each movement type. Posting records which are generalized in Value string are assigned to movement type. These records contain keys instead of actual G/L accounts.

For each transaction even key you have to define posting rules and on the base of that only it considers which of the following account determination rules to use.(Tcode# OBYC)

The posting keys tell us which account to hit , whether debit or credit and what will be its reversal entry (Tcode# OB41)

BR,

Krishna