Question: How Do You Create A Special GL In SAP?

What is special GL account in SAP?

SAP has a concept of reconciliation accounts where in each sub ledger has a GL Account known as a reconciliation account maintained in its master data.

Special G/L Transactions are transactions in the Accounts Payables and Accounts Receivables, which are, displayed separately In the general ledger and the sub ledgers..

How do you post a down payment request in SAP?

To enter and post a down payment request, proceed as follows:Choose Postings Down payment Request .Enter the document header data and the account number. … The target special G/L indicator is the special G/L indicator for the down payment. … ChooseENTER .You reach a screen for entering line items.More items…

What is posting key SAP?

Two-character numerical key that together with the account number controls the posting at line item level. The posting key determines: Account type. Debit/credit posting.

What are the two or three types of special journals?

Special journals are designed as a simple way to record the most frequently occurring transactions. There are four types of Special Journals that are frequently used by merchandising businesses: Sales journals, Cash receipts journals, Purchases journals, and Cash payments journals.

What is reconciliation account in SAP?

Overview. Reconciliation accounts are G/L accounts to which postings are made automatically whenever a business transaction is entered on a subledger account (such as accounts receivable, accounts payable, or fixed assets).

How do you get special GL indicator list in SAP?

Execute the transaction code FBKP to display the screen as shown below.FIGURE 1 (EXECUTE THE TRANSACTION CODE FBKP)FIGURE 2 (LIST OF SPECIAL G/L INDICATORS)FIGURE 4 (ENTER THE DETAILS FOR THE NEW SPECIAL G/L INDICATOR)FIGURE 5 (DEFINE THE ALTERNATIVE GENERAL LEDGER ACCOUNT)

For which special G L indicator do you specify a target special G L indicator?

The target special G/L indicator is the special G/L indicator for the down payment. It is required when creating a down payment from the down payment request. The system uses this indicator to determine the special G/L account to which down payments are posted.

Which of the following special G L transactions are noted items?

Special G/L Posting Methods Noted Items: Noted items refer to one-sided accounting entries which do not update GL balances. For instance, down payment requests are recorded as noted items and usually serve as a reminder for payment due or to be made.

How do I change the description of special GL indicator in SAP?

Select an account type/indicator combination from the list or, to configure a new combination, click Create and enter the following information:Specify account type.Select pre-existing special G/L indicator.Enter a name.Enter a description for the purpose of the indicator.

What is a noted item in SAP?

Special G/L transactions are also used to manage noted items. These are postings that are not displayed in your accounts but are only to remind you of outstanding payments due or to be made. You can process them with the payment program or dunning program.

What are the 5 special journals?

Remember, we have 5 special journals:a sales journal to record ALL CREDIT SALES.a purchases journal to record ALL CREDIT PURCHASES.a cash receipts journal to record ALL CASH RECEIPTS.a cash disbursements journal to record ALL CASH PAYMENTS; and.More items…

What is special GL indicator?

Special G/L transactions are identified by a special G/L indicator. Example. In the standard system, you post down payments made with posting key 29. This posting key determines that you are posting to the debit side of a vendor account. The special G/L indicator determines the type of down payment.

What is special ledger?

Special General Ledger Transactions are transactions that logically belong to accounts in the sub-ledger (Customer / Vendor) but are not to be posted to the corresponding G/L Reconciliation Account defined in the master record. … Special General Ledger Transactions can be grouped into 3 basic categories.

What is alternative reconciliation account in SAP FICO?

Anna, Standard SAP allows you to have balances on several different reconciliation accounts for the same vendor. These “alternative reconciliation accounts” are used for down-payments, bills of exchange etc.

What are special transactions?

Special transactions may include: introduction of additional capital. drawings of cash and goods. purchase and sale of non-current assets at book value. interest payable and receivable on overdue accounts.