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How to understand Accounting documents

Former Member
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Hi

Please help about the accounting documents understanding. i.e., related to Debit and Credit entries (40/50).

Thanks and points will be rewarded

Suddu

Accepted Solutions (0)

Answers (3)

Answers (3)

Former Member
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Thanks for inputs. Points are rewarded

Suddu

Former Member
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key 40 is for Debit & 50 is for Credit. These Keys can be seen in T.Code: OB40. In OB40 you have posting Key & G/L account relationship based on or without Tax Code i.e if Different Tax Code will hit different account, we have to maintain it accordingly & if all Tax Code are to hit the same G/L account, we can maintain the G/L account without Tax Code.

Regards,

Rajesh Banka

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Former Member
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hi,

if basic diffrerence is what ur looking for here it is

I find the best way to understand debits and credits is to identify two components of each transaction: 1) what did you get; and, 2) where did it come from. The debit is what you got, and the credit is the source of the item you received. For instance, let's imagine that you purchase a computer with your credit card. Since the computer is what you received it's going to result in a debit to the asset account for your computer. The credit will be applied to the credit card liability account for the same amount.

revert back in case of further queries

regards

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sriram

Former Member
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Hi

If we see the Accounting document, PA document there will be GL accounts. Could you please elaborate.

Customer purchased the Computer and paying by cash/check.

Regards

Suddu

Former Member
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hi,

g/l accounts are the accounts to which the corresponding accounting entries are posted,we assign the account keys in the pricing procedure and the account keys are assigned to the g/l accounts in the account determination .

so whenever a transaction takes place the corresponding G/L accounts are hit.

we assign G/L accounts in transaction code :FS00.

regards

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sriram.

Former Member
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Hi

I stand by with you. But I need to know how and what entries like for example

Company sells computer,,if so will it be hitting the Cr or Db entry and how it will be Accounting document and PA document.

Regards

Suddu

Former Member
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hi,

when company sells computer the stock account(inventory) is debited and cash account is credited , if it is on credit account receivables account is credited and customer account is debited.

hope it clears ur doubt.

regards

sriram.