Friday, September 12, 2008

Allocation of Receivables and Payables According to Remaining Life: Entering Invoices in FICO

Use

In this process, you enter a customer invoice with a remaining life exceeding one year. For this reason, and according to the 4th EU directive, the item must be transferred to a special account if it is still open at the end of the period.

You post the invoice directly in Financial Accounting, there is no integration with the Sales and Distribution application. This makes it easier to post backdated invoices.

Procedure

  1. Call up the transaction as follows:
  2. Menu Path

    Accounting ® Financial Accounting ® Accounts Receivable ® Document Entry ® Invoice

    Transaction

    FB70, FBL5, FD03

    Make sure that the correct company code is specified.

    If the system displays the Enter company code dialog box, enter the following data:

    Field

    Europe

    North America

    Company code

    1000

    3000

    Otherwise, choose Environment ® Set company code and confirm the dialog box Exit processing with Yes. In the dialog box, enter 1000 (Europe) or 3000 (North America).

    Choose .

  3. If the worklists are not displayed, choose Tree on.
  4. On the Basic Data tab, enter the following data:
  5. Field

    Europe

    North America

    Customer

    1174

    3176

    Invoice date

    Today’s date -1 month

    Today’s date -1 month

    Posting date

    Today’s date -1 month

    Today’s date -1 month

    Amount

    100,000.00 (gross amount, including tax on sales/purchases)

    100,000.00 (gross amount, including tax on sales/purchases)

    Currency/rate (defaulted)

    EUR

    USD

    Calculate tax

    Select

    Select

    Tax code (defaulted)

    AN

    S1

    If any warning messages appear, choose .

  6. Choose Screen variants for items ® With business area.
  7. Enter the following data:
  8. Field

    Europe

    North America

    Payment tab



    Pmnt terms

    Empty

    Empty

    Days (first field)

    720 days

    720 days

    Days (other fields)

    Empty

    Empty

    Table



    G/L account

    800200

    800200

    D/C (defaulted)

    Credit

    Credit

    Amount in doc. curr.

    100,000.00

    100,000.00

    Business area

    1000

    1000

    To simplify this process, we have not defined a cost element for account 800200, which means that you do not need to assign a CO object, for example, an order number. You do not therefore need an additional account assignment. The system does not transfer the data to Profit Center Accounting.

  9. Choose .
  10. The system displays the address of the customer. If you want to display the open items for this customer or the bank details, choose OIs or Bank Details.

  11. Choose Simulate.
  12. The Document Overview screen appears and you can see your posting with the document items.

  13. Choose .
  14. Make a note of the document number.
  15. Choose until the overview tree appears.
  16. In the Exit Editing dialog box, choose Yes.

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