SAP FICO ACCOUNTING ENTRIES

Experience the power of streamlined knowledge with our SAP FICO Accounting Entries PDF. Delve deep into the intricacies of SAP Financial Accounting and Controlling. Unleash your potential to manage financial transactions effortlessly. Elevate your financial acumen, leaving no room for uncertainty.

In this section, we focus on the precision this guide brings to your financial expertise. No longer struggle with complex entries; instead, gain confidence in every transaction. Your journey to financial mastery starts here.

What's Include:

1. Journal Entry:

- Used for general transactions that don't fit into specific categories.

2. Cash Receipt:

- Records the receipt of cash.

3. Cash Payment:

- Records the payment of cash.

4. Sales Invoice:

- Records the sale of goods or services on credit.

5. Purchase Invoice:

- Records the purchase of goods or services on credit.

6. Accounts Receivable:

- Records amounts owed by customers.

7. Accounts Payable:

- Records amounts owed to suppliers.

8. Depreciation Expense:

- Records the gradual allocation of the cost of an asset over its useful life.

9. Accruals:

- Records revenue or expenses that have been earned or incurred but not yet received or paid.

10. Prepaid Expenses:

- Records expenses that have been paid in advance.

11. Adjusting Entry:

- Records changes to account balances that are not the result of routine transactions.

12. Closing Entry:

- Records the transfer of temporary account balances to permanent accounts at the end of an accounting period.

13. Income Summary:

- Used in the closing process to summarize revenues and expenses before transferring the net income or loss to the owner's equity.

14. Retained Earnings:

- Records the portion of net income that is retained in the business rather than distributed to shareholders.

15. General Ledger:

- Records all financial transactions of a business.