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REFX Lease in Accouting Entries

former_member326603
Participant
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Dear All,

I want to know accounting entries in REFX Lease In Process.

Regards,

Mahendra Gupta

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Mahendra,

For lease-in process where you basic rent is in the credit side.

You entry would be:

Rent expense

     Accounts Payable

so when payment for this has been made: entry would be:

Accounts Payable

     Cash in Bank

Regards,

Miguelito

former_member326603
Participant
0 Kudos

Dear Miguelito Rosario,

Thanks for your reply, Actually I want to know accounting entries at the time of Periodic Posting.

If I do Periodic Processing of Billing then what will be accounting entries in SAP and When I post Actual bill then what will be accounting entries in SAP.

Regards,

Mahendra Gupta

Former Member
0 Kudos

Hi Gupta,

Mahendra,

Yes for periodic posting entry:

Rent Expense

     Accounts Payable

When actual billing

Accounts payable

     Cash

Your entries may have different naming convention or may have different GL assignment but the SAP post this entries..

Regards,

Miguelito

former_member326603
Participant
0 Kudos

Dear Sir,

Thanks for your immediate reply.

Regards

Mahendra Gupta

Answers (1)

Answers (1)

0 Kudos

Dear All,

Accounting entries are the same. here i have question :

Rent Expens (GL Account).....Cost centre....order>>>>>>>DR

               Accounts Paybale >>>>>>>>>CR.

Kindly let me know how to manage cost center and order?