AP-P2P Notes With Interview Questions
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Rohit PalAP-P2P Notes With Interview Questions
Uploaded by
Rohit PalSquNik
Class 1st -Accounting Entries
Golden Rules of Accounting
Nominal Personal Real
Dr All Expenses & Losses Dr the Receiver Dr What Comes In
Cr All Income & Gains Cr the Giver Cr What Goes out
For Example:- Salary, Rent, Debtors & Creditors Fixed Assets, Bank, Tax etc
Maintenance, Freight ,
Sales, Purchase, Profit,
Complete P&L are comes Complete B/s are comes
under it under it.
Payable Payment
Yet to Be Paid-Purchase Entry Which has been Paid-Payment Paid Entry
Receivable Received
Yet to Receive-Sales Entry Which has been Received-Payment
Received Entry
Journal Entry –Accounts Payable
1) Rent Need to Pay to Reliance- Payable
Rent Account Dr:- Expense:- Nominal:- Dr all Expenses & Losses
To Reliance:-Creditors:- Personal:- Credit the Giver
2) Now we have paid the Rent to Reliance
Reliance Account Dr--Personal—Dr--Receiver
To Bank Account--Real:- Goes out is credited
========================================================================
It would be wrong entry.
Rent Account Dr
To Bank
(First Payable is created then we have to make the payment)
Journal Entry –Accounts Payable
3) Electricity Bill Need to pay to DLF- Payable
Electricity Account Dr:- Expense:- Nominal:- Dr all Expenses & Losses
To DLF:-Creditors:- Personal:- Credit the Giver
4) Now we have paid the Electricity Bill to DLF
DLF Account Dr--Personal--Dr
To Bank Account--Real:- Goes out is credited
========================================================================
It would be wrong entry.
Electricity Account Dr
To Bank
(First Payable is created then we have to make the payment)
Journal Entry –Accounts Payable
5) Maintenance Bill Need to pay to AWL- Payable
Maintenance Account Dr:- Expense:- Nominal:- Dr all Expenses & Losses
To AWL:-Creditors:- Personal:- Credit the Giver
6) Now we have paid the Maintenance Bill to AWL
AWL Account Dr--Personal--Dr
To Bank Account--Real:- Goes out is credited
Journal Entry –Accounts Receivable
7) Goods Sold to XYZ Ltd of RS 10,000/-
XYZ Account Dr:- Personal:- Debit the Receiver
To Sales:-(Revenue/Income:- Nominal:- Cr all Income & Gains
8) Customer Makes the Payment of the Invoice
Bank Account Dr--Real:- Goes In is Debited
To XYZ Account-Personal Account
9) We Sold goods of Rs 10000 to ABC Ltd & Give 10% Discount
Abc Account Dr 9000
Discount Allowed Account Dr 1000
To Sales 10000
Journal Entry –Accounts Receivable
10) Customer Makes the Payment of the Invoice
Bank Account Dr-9000
To ABC Account-9000
11) We Sold Goods of Rs 10000 to ABC Ltd at give 10% Discount
& at the time of payment, we again give 10% Discount
(Billing)
ABC Account Dr 9000
Discount Allowed Account Dr 1000
To Sales 10000
--------------------------------------------------------------------------------
Bank Account 8100
Discount Allowed Account Dr 900
To ABC Account 9000
Journal Entry –Accounts Receivable
12) Customer Makes the Payment of the Invoice.
(Cash Application, Cash App)
Bank Account Dr 8100
Discount Allowed Account Dr 900
To ABC Account 9000
13) We sold goods of Rs 10000 to ABC Ltd & the payment terms
is 30 Days. We asked customer to give 10% discount if payment
is made in 15 days & Customer made the payment on 14th day.
Sales
ABC Account Dr 10000
To Sales Account 10000
Journal Entry –Accounts Receivable
14) Customer Made the Payment of the Invoice on 14th Day.
Bank Account Dr 9000
Discount Allowed Account Dr 1000
To ABC Account 10000
Journal Entry –Accounts Payable & Receivable
15) Gaurav Purchased T Shirt from Levis Store of Rs 3000. Pass
Necessary Journal Entry in both the Books.
Gaurav (Purchase)—AP Levis (Sales)-AR
Purchase Account Dr Gaurav Account Dr
To Levi's Account To Sales Account
Payment Received
Levis Account DR Bank Account Dr
To Bank To Gaurav Account
Journal Entry –Accounts Payable & Receivable
16) Rakesh Purchased Jeans of rs 10000 at a discount of 50%
from Levis & make the payment accordingly. Pass Necessary
Journal Entry in both the Books.
Rakesh (Purchase)—AP Levis (Sales)-AR
Purchase Account Dr 10K Rakesh Account Dr 5K
To Discount Received Account 5K Discount Allowed Account Dr 5k
To Levi's Account 5K To Sales Account 10K
Payment Received
Levis Account DR 5K Bank Account Dr 5K
To Bank 5K To Rakesh Account 5K
SquNik
Class 2nd:-Accounting Entries of GST,
Accounts Payable & Receivable
(Combined)
Pre GST Post GST
Description A B C A B C
Material 100 165 220 100 150 (15) 185
(150+15)
Value 30 20 30 20
Addition
Profit 20 15 20 15
Total 150 200 150 185
Excise 15 20 (1.5) GST 15 18.5
Duty
Total 165 220 165 203.50
Purchase Entries
Pre GST Entries in B’s Books Post GST Entries in B’s Books
Purchase Account DR Purchase Account Dr
To A’s Account GST Input Account Dr
To A’s Account
Sales Entries
C’s Account Dr C’s Account Dr
To Sales Account To Sales Account
To GST Out Account
In case of Intra State transaction:- CGST (Central) & SGST (State) is levied.
In case of Inter State Transaction:- IGST (Integrated) is levied.
Journal Entry –Accounts Payable & Receivable with GST
17) We purchase goods of rs 10000 from ABC Ltd & GST is 18%
Purchase Account Dr 10000
GST Input Account Dr 1800
To ABC Account 11800
Payment
ABC Accout Dr 11800
To Bank Account 11800
Journal Entry –Accounts Payable & Receivable with GST
18) We Sold goods to RK Enterises of rs 10000 & GST is 18%
RK Enterprises Account Dr 11800
To Sales Account 10000
To GST Output Account 1800---Govt Deposit:-Real:-What goes out is credited
Bank Account Dr 11800
To RK Enterprises Account 11800
Journal Entry –Accounts Payable & Receivable with GST
19) Gaurav Purchased T Shirt from Levis Store of Rs 3000+10%
GST. Pass Necessary Journal Entry in both the Books.
Gaurav (Purchase)—AP Levis (Sales)-AR
Purchase Account Dr 3000 Gaurav Account Dr 3300
GST Input Account Dr 300 To GST output 300
To Levi's Account 3300 To Sales Account 3000
Payment Received
Levis Account DR 3300 Bank Account Dr
To Bank 3300 To Gaurav Account
SquNik
Accounting Entries of R2R
Journal Entry –Record to Report (General Accounting)
20) I Deposit 5000 in Bank
Bank Account Dr
To Cash Account
21) We introduced with a capital of rs 100000
Bank Account Dr
To Capital Account
Journal Entry –Record to Report (General Accounting)
22) There is a bank charges of rs 5000
Bank Charges Account Dr
To Bank Account
23) We disturbed the goods of rs 15000 as charity
(Charity Account Dr) –Expense , Nominal Dr 5000-100=4900
To Goods/Inventory/Stock
Journal Entry –Record to Report (General Accounting)
24) We distributed the goods as free sample for business
promotion of Rs 50000
Advertisement Account Dr (Expense) 50000
To Inventory/Stock Account/Goods
Free Sample Account Dr
To Inventory/Stock Account/Goods
Business Promotion Account Dr
To Inventory/Stock Account/Goods
Journal Entry –Record to Report (General Accounting)
25) Goods Destroyed in Fire of rs 10000
Loss By Fire Account Dr 10000-Nominal Account
To Inventory/Stock Account 10000--Real Account
Journal Entry –With Theory
26) What is Prepaid Expense?
Answer:- Prepaid Expense is the expense that is paid in advance. For example
Insurance, AMC (Annual Maintence Cost), Rent etc. An Entity initially records this
transaction as a prepaid expense & transfers it to Profit & Loss account over the usage
of time. In Prepaid, First we have to pass the Entry
Prepaid Expense Account Dr ----B/s--Assest
To Bank Account
As per the confirmation by the AP team over the mail regarding the prepaid expense &
we have to maintain the tracker in Excel & pass the accounting entry at every month
end.
Expense Account Dr
To Prepaid Expense Account
This is the GL to GL recurring entry that we need to pass every month end by FBR2.
Journal Entry –With Theory
27) We have Paid Advance Rent of Rs 45000 for 3 Months on 1
April 2024.
01 April 2023, the entry would be
Liabilities Assets
Prepaid Rent Account Dr 45000
Prepaid Rent-45000
To Bank Account 45000
30 April 2023 the Entry would be Expense Income
Rent -15000
Rent Account Dr 15000
Liabilities Assets
To Prepaid Rent Account 15000
Prepaid Rent 30000
Journal Entry –With Theory
31 May 2023 the Entry would be Expense Income
Rent -15000
Rent Account Dr 15000
Liabilities Assets
To Prepaid Rent Account 15000
Prepaid Rent 15000
30 June 2023 the Entry would be Expense Income
Rent -15000
Rent Account Dr 15000
Liabilities Assets
To Prepaid Rent Account 15000
Prepaid Rent 0
Recurring Entry means the entry that we need to pass at a regular interval
of time.
Journal Entry –With Theory
28) We have paid advance Rent of rs 60000 on 01 April 2024 to
30 June 2024. But in May we forgot to transfer it to P&L Account.
Pass Necessary Journal Entry
01 April 2024, the entry would be Liabilities Assets
Prepaid Rent-60000
Prepaid Rent Account Dr 60000
To Bank Account 60000
Expense Income
30 April 2023 the Entry would be Rent -20000
Liabilities Assets
Rent Account Dr 20000 Prepaid Rent 40000
To Prepaid Rent Account 20000
Journal Entry –With Theory
31 May 2023 No Entry Expense Income
Rent -0
Liabilities Assets
Prepaid Rent 40000
30 June 2023 the Entry would be Expense Income
Rent -40000
Rent Account Dr 20000
Liabilities Assets
To Prepaid Rent Account 20000
Prepaid Rent 0
Rent Account Dr 20000
To Prepaid Rent Account 20000
Journal Entry –With Theory
29) What is Prepaid Income?
Answer:- Prepaid Income means the income that is received in advance. For example
Insurance, AMC, Rent etc. An Entity initially records this transaction as a prepaid
Income & transfers it to Profit & Loss account over the usage of time. In Prepaid, First
we have to pass the Entry
Bank Account
To Prepaid Income Account Dr
At every month end, We have to transfer it to P&L Account & the entry would be
Prepaid Income Account Dr
To Income Account
Journal Entry –With Theory
30) We have Paid Advance Rent of Rs 45000 for 3 Month on 01st
April 2024 to XYZ
ABC-Prepaid Expense--B/S assets XYZ-Prepaid Income--B/S Liabilities
Prepaid Rent Account Dr 45000 Bank Account Dr 45000
To Bank Account 45000 To Prepaid Rental Income Account
Liablities Assets Liabilities Assets
Prepaid Expense 45000 Prepaid Income 45000
Journal Entry –With Theory
At every Month End the entry would be
Rent Account Dr 15000 Prepaid Rental Income Account Dr 15000
To Prepaid Rent Account 15000 To Income Account 15000
Expense Income Expense Income
Rent 15000 Rental Income 15000
Liablities Assets Liabilities Assets
Prepaid Rent 30000 Prepaid Income 30000
Journal Entry –With Theory
31):-What is Deferred Revenue Expenditure?
Answer:- Deferred revenue expenditure means the expenditure that is
incurred during an accounting period but the benefit is to be derived over
the period of time.
For Example Advertisement in a Metro or hiring a celebrity for
endorsement/promotion.
Journal Entry –With Theory
32):-What is Fixed Assets?
Fixed Assets are those assets which is used for a longer period & that
cannot be converted into cash easily or quickly For example:- Plant &
Machinery, Land & Building etc
We have purchased Refrigerator from Vijay Sales of rs 100000 on 01st
April 2024.
Fixed Assets Account Dr 100000
To Vijay Sales Account 100000
Assets
Fixed Assets 100000
Journal Entry –With Theory
33):-What is Depreciation?
Depreciation is the reduction in the value of fixed assets due to wear &
tear.
I Charge 10% depreciation on the above assets
Depreciation Account Dr 10000---------P&L
To Accumulated Dep Account 10000---B/s, respective assets (Less
Expense Income Assets
Depreciation 10K Fixed Assets 100000
(Accumulated Dep) -10000
Net Value :- 90000
Journal Entry –With Theory
34) What is accumulated deprecation?
Accumulated Dep is the total amount of dep which is calculated during the Financial
Year.
35) What are the methods of Depreciation?
Straight Line Method & WDV Method
36) Which is the most commonly used method of Depreciation?
Straight Line Method
Journal Entry –With Theory
37) I Purchased Fixed Assets of Rs 100000 on 01st April 2022 & Charge Dep
@2% on monthly basis. I sold this on 01 April 2024 of rs 50000/-. Pass
necessary Journal Entry.
Assets
01 April 2022
Fixed Assets Account Dr 100000 Fixed Assets 100000
To Bank Account 100000
30 April 2022
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 May 2022
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
Journal Entry –With Theory
30th June
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 July
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 Aug
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
30 Sep
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
Journal Entry –With Theory
31 Oct
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
30 Nov
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 Dec
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 Jan 2023
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
Journal Entry –With Theory
28 Feb 2023
Depreciation Account Dr 2000 Assets
To Accumulated Dep Account 2000
Fixed Assets 100000
Acc Dep (24000)
31 Mar 2023 Net Value 76000
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
30 April 2023
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
31 May 2023
Depreciation Account Dr 2000
To Accumulated Dep Account 2000
Journal Entry –With Theory
31 March 2024 Assets
Depreciation Account Dr 2000
Fixed Assets 100000
To Accumulated Dep Account 2000 Acc Dep (48000)
Net Value 52000
01st April 2024:- We Sold this Assets of Rs 50000.
Bank Account Dr 50000
Loss on Sale Account Dr 2000
Accumulated Dep Account Dr 48000
To Fixed Assets Account 100000
01st April 2024:- We Sold this Assets of Rs 60000.
Bank Account Dr 60000
Accumulated Dep Account Dr 48000
To Fixed Assets Account 100000
To Profit on Sales of Fixed Assets 8000
Journal Entry –With Theory
38) What is Outstanding Expense?
Outstanding expense means the expense which has been booked but not yet paid.
Expense Account Dr--------P&L---Expense Liabilities Assets
To Outstanding Exp Account---------B/s---Liabilities Outstanding Exp
39) What is Outstanding Income?
Outstanding income means the income which is earned but not yet received.
Outstanding Income Account Dr -----B/s----Assets
To Income Account-------P&L----Income Side
Liabilities Assets
Outstanding Income
Journal Entry –With Theory
40) What is Accruals?
Accruals Principle of accounting states that every transaction is recorded in the system
when they incur or earned.
41) What is Accrued Expense?
It means the expense in which we have taken the services but the bill against the said
services has not been booked or received in an accounting system.
Expense Account Dr -----P/L----Expense
To Accruals Account-------B/s----Liabilities Side
Liabilities Assets
Accrued Expense
A:- Legal:- Bill
B:- Freight:- No Bill
C:- Maintenance:- No Bill
D:- Advertisement:- Bill
P&L
Legal
Advertisement
Freight-Accruals
Maintenance-Accrual
B/s
Creditors--A&D
Accruals Expenses
Freight Account Dr
Maintenance Account Dr
To Accruals Account--B/s--Liabilities
Journal Entry –With Theory
42) What is Accrued Income?
Accrued Revenue means the income that has been earned but not yet received like
Commission, Payments
Accrued Income Account Dr---B/s--Assets
To Income Account--PL--Credit Side--Income Side
Liabilities Assets
Accrued Income
Journal Entry –With Theory
43) What is Provision?
Provision is the amount that we set aside to cover the future liability.
For Example:- We have sold some goods to ABC Ltd of Rs 1,00,000 & they have paid
60,000 rs and the balance we have a doubt to recover it.
Sales
Abc Account Ltd 100000 Liabilities Assets
To Sales Account 100000 Provision 40,000 Debtors:- 100000
Bank Account Dr 60,000 Received-(60000)
To ABC Ltd 60,000 Bad Debts-(40000)
P&L Account Dr 40,000--------------P&L--Exp
To Provision for doubtful debt Account 40,000---Liabilities
Journal Entry –With Theory
Bad Debts Account Dr 40,000----------------P&L Debit---Exp
To ABC Ltd 40,000
Reverse
Provision for doubtful debt Account Dr 40,000
To P&L Account Dr 40,000
Liabilities Assets
Debtors:- 100000
Received-(60000)
Bad Debts-(40000)
Journal Entry –With Theory
44) We have sold some goods to ABC Ltd of Rs 1,00,000 & they have paid 50,000 rs and
the balance we have a doubt to recover it. Later on 50% of the amount recovered &
50% become bad debts.
Sales
Abc Account Ltd 100000
To Sales Account 100000
Liabilities Assets
Bank Account Dr 50,000
To ABC Ltd 50,000 Provision-50000 Debtors:- 100000
Received-(50000)
P&L Account Dr 50,000--------------P&L--Exp
To provision for doubtful debt Account 50,000---Liabilities Received-(25000)
Bad Debts-(25000)
Journal Entry –With Theory
Bad Debts Account Dr 25,000----------------P&L Debit---Exp
Bank Account Dr 25000
To ABC Ltd 50,000
Reverse
Provision for doubtful debt Account Dr 50,000
To P&L Account Dr 50,000
Liabilities Assets
Debtors:- 100000
Received-(50000)
Received-(25000)
Bad Debts-(25000)
Journal Entry –With Theory
45) What is Contingent Liability?
It is liability or a potential loss that may or may not occur depend on the outcome of
the event. For Example:- Product Warranties, Law Cases etc
Expense Account Dr
To Contingent Liability Account.
46) What is Unearned Income?
Unearned Income means the income that is not earned from work. It includes Interest
on saving account, financial prize, dividends etc.
Bank Account Dr
To Unearned Income Account Dr
SquNik
Class 2nd-
How to Install/Login in SAP S4 HANA
What is SAP
SAP means System application & product in data processing.
SAP is the most commonly used software around the globe.
It has been successful due to the integration among various departments.
It is the world leading producer of software for the management of business process.
SAP was Founded in 1972. It is a German Based Software.
SAP has 72 Module, 70 has functional Module & 2 has Technical Module (ABAP & BASIS)
72 Modules in SAP
Step 1:- Go to Remote Desktop (Window & R)-MSTSC
Step 2:- Enter the server details & User Name/Password
[Link]:8338 Password is hana@1234
Step 3:- Logon to SAP
Step 4:- Enter User Name & Password
Double Click on the Icon
Production
Development
Server
Testing
Types of Server
Development Server:- Where Configuration is done.
Testing/Quality Server:- Where we check whether all the data is working well or not.
Production:- It means live system which impacts the financial.
Double Click here
SAP Server of Revlon (client of Genpact)
Enter the Password & click on the
new Password if you want to reset it.
Enter the user Name &
Password
You have three attempts to enter
the password.
SAP Home Page
Command Back New Session
For T Codes
T Code (Transactional Codes) List-Accounts Payable
T Codes Description
BP
FB60
FV60
FBV0
FBL1N
FBL3N
FB08
Me21N
ME22N
ME23N
MIGO
MIRO
MIR7
F110
F-54
T Code (Transactional Codes) List-Accounts Receivable
T Codes Description
BP
VA01
VL01N
VF01
VF02
FBL5N
F-28
F-26
FB08
MM01
MM02
MM03
T Code (Transactional Codes) List-R2R
T Codes Description
Fs00 Maintain Business Partner
FB50 Create Sales Order
F-02
FBL3N
FBR2
FBD1
F.14
F.15
FB08
FS10N
SquNik
Invoice Processing
By Sandeep Arora
(SAP Consultant)
Class 1st
SquNik
Procure to Pay Cycle
P2P
Posting of Invoice Via FB60
What is Invoice
Invoice is a non negotiable commercial instrument issued by seller to buyer.
It Contains:-
1. Name & Address of Both the parties
2. Invoice No
3. Invoice Date
4. GST No of both the parties
5. Description of Goods
6. Qty/Rate/Price
7. Taxable Value
8. Tax Rate
9. Tax Amount
10. Total Value
11. Invoice should be signed by the authorized person.
Types of Invoice
There are two type of Invoice:-.
PO Based Non PO Based
Material/Goods Invoices Service Invoices
SAP T Codes:- SAP T Codes:-
MIRO FB60
MIR7 FV60
FBV0
First we have to Process the Payable Entry followed by the Payment Entry
FB60 is used to Post the Vendor Invoice in SAP
Lets see How to Process the Non PO Based Invoice FB60
2
3 . 4
5 7
6
8
11
10
9
1. Company Code:- It is the legal entity for which you draw the financial statement like
P&L and the Balance Sheet. It is a four digit code & may be alphabetic, alphanumeric &
numeric. (2700)- Callaway Golf India
Whirlpool
(Group of
Company)
Whirlpool Whirlpool Whirlpool Whirlpool
India Singapore Europe Japan
WHIN WHSG WHEU WHJP
2. Vendor Code:- Here we have to select the vendor code by the vendor name.
3. Invoice Date:- We have to enter the Invoice date.
4. Reference:- In reference we have to enter the Invoice No.
5. Posting date:- It means the date , when we are going to post the Invoice, normally it is
the today’s date.
6. Amount:- Here we have to enter the total amount of the Invoice after deducting TDS
7. Calculate Tax:- We need to tick the calculate tax & select the GST rate as per the
invoice
8. Text:- Here we have to mention the narration
9. GL:- Here we have to mention the GL No of the Expense/GST/TDS Etc as per the entry.
10. Debit/Credit:- As per your requirement
11. Amount:- Need to enter the Total Amount
12. Cost Center:- Cost Center is used to allocate the cost of the company as per
department wise. Cost Center is always aligned to Expenses.
Posting Keys Document Type
K represents Vendor In SAP
Dr Cr
GL 40 50 KR:- Service Invoice
Vendor 21 31 RE:- Material Invoice
KZ:- Manual Payment
ZP:- Automatic Payment
KR:- Vendor Reversal
KG:- Debit Note
Invoice No 1
Inv No 080
Inv Date 25.11.2017
Expense Name:- Printing Charges-1
Cost Center:- Marketing-27750
Payable Entry
Printing Charges Account Dr 9200---GL (40)
CGST Input Account Dr 828—GL (40)
SGST Input Account Dr 828--- GL (40)
To Shashi Graphics Account 10856—Ven (31)
Payment Entry
Shashi Graphics Account Dr 10856
To Bank Account 10856
FB60:- Enter Vendor Invoice - Inv No 1
Document has been generated in SAP.
How to Search Vendor in SAP
Click on the Square Box or F4
It should be Vendor by
Company Code
Prefix & postfix *
Company Code Should be
Mention (VIJF)
How to Search GL in SAP
Click on the Square Box or F4
Prefix & postfix *
Company Code Should be
Mention
What is Cost Center
Cost Center is used to allocate the cost of the company as per department wise.
Cost center is always linked with expenses.
For example:- The policy of the company is to reimburse 500 inr for Telephone Bill to every
employee of the company. Being a Accountant I have received 20 Telephone Bills from
various department & I pass the below entry:-
Telephone Expense Account Dr 500 -----GL (General Ledger)
To Employee Account 500
I have to pass this entry 20 times as I received 20 Invoices
Telephone Ledger
Entry With Cost Center
Telephone Expense Account Dr 500 -----Admin (CC)
To Employee Account 500
Telephone Expense Account Dr 500 -----Sales (CC)
To Employee Account 500
Telephone Expense Account Dr 500 -----Sales (CC)
To Employee Account 500
Telephone Expense Account Dr 500 -----Operations(CC)
To Employee Account 500
Telephone Expense Account Dr 500 -----Finance(CC)
To Employee Account 500
Telephone Ledger With Cost Center
Difference Between Cost Center & General Ledger
GL is used for External Reporting for example P&L and balance sheet. Cost Center is used for
internal reporting
What is General Ledger?
General Ledger is used to record all the transaction of the company.
Invoice No 2
Inv No 087
Inv Date 07.12.2017
Expense Name:- Printing Charges:-1
Cost Center:- Marketing:-27750
Payable Entry
Printing Charges Account Dr 25800
CGST Input Account Dr 2322
SGST Input Account Dr 2322
To Shashi Graphics Account 30444
Payment Entry
Shashi Graphics Account Dr 30444
To Bank Account 30444
Invoice No 2
Simulate & Save it
Simulate & Save it
Check the Entry in FBL1N & FBL3N
FBL1N is used to check the Vendor Line Item Display:- Vendor Value
FBL3N is used to check the GL Line Item Display:- GL Value
Printing Charges Account Dr 25800 GLFBL3N----40
CGST Input Account Dr 2322 GLFBL3N--40
SGST Input Account Dr 2322 GLFBL3N--40
To Shashi Graphics Account 30186 Vendor FBL1N-31
To TDS on Contractor 258 GLFBL3N--50
Dr Cr
Vendor 21 31
GL 40 50
FBL1N
After filling all the details click on this
Clock or F8
5
1 Select vendor By F4
2
Enter Company Code
3
Means Payable Entry
4 Payable & Payment is a Normal Item
FBL1N
After filling all the details click on this
Clock or F8
5
1 Select vendor By F4
2
Enter Company Code
3
Means Payable Entry
4 Payable & Payment is a Normal Item
1 2 3 4 5 6 78 9 10 11 12
. . . . . . . . . . . .
1. St (Status):- Here you can see Red Light which means this is pending for payment
(Payable Entry)
2. Document No:- Which we get at the time of Invoice Posting
3. Type:- Document Type is universal around the globe. It represents the identity of a
document.
Document Type Description
KR/RE Vendor Invoice processing
KZ Vendor Payment
KA Vendor Reversal
SA GL to Gl Entry
4. Document Date:- Invoice Date
5. Posting Date:- Date of Posting an Invoice
7. Reference:- Invoice No, what we captured at the time of FB60
8. S (Special Indicator/GL):- Used in case of Special transaction like Advance to Vendor
9. DD:- It shows the status of Invoice Whether it is due, undue or overdue
10. Amount in Local Currency:- Amount that we need to pay to vendor.
11. [Link] :- It’s the local currency if it is in India then it is Inr
12. Clearing Document :- It comes when we make the payment to vendor against the
said invoice or we reverse the document.
13. Text :- It means Narration that we Enter in FB60
FBL3N- Gl Line Item Display
Here, it is up to you which GL you need to check in the said Entry. For example Third Party
Salary, CGST Input, SGST Input.
After filling all the details click on this
5 Clock or F8
1 Select GL By F4
2
Enter Company Code
3
All P&L Item are always Open
4 Select Normal Item
Invoice No 3
Inv No 006/2018
Inv Date 31.01.2018
GL:- Professional Charges:-2
CC:_ Finance:-27800
Payable Entry
Professional Charges Account Dr 50000
To Ravi Partap Account 50000
Payment Entry
Ravi Partap Account Dr 50000
To Bank Account 50000
Invoice No 4
Inv No 1110838
Inv Date 30.01.2018
GL:- Freight Out:- 3
CC:_ Operations:- 27600
Payable Entry
Freight Out Account Dr 92487
CGST Input Account Dr 8324
SGST Input Account Dr 8324
To AWL Account 109135
Payment Entry
AWL Account Dr 109135
To Bank Account 109135
Invoice No 5
Inv No 1110933
Inv Date 30.01.2018
GL:- Freight Out:- 3
CC:_ Operations:-27600
Payable Entry
Freight Out Account Dr 8827
CGST Input Account Dr 794
SGST Input Account Dr 794
To AWL Account 10415
Payment Entry
AWL Account Dr 10415
To Bank Account 10415
Invoice No 6
Inv No 1110931
Inv Date 30.01.2018
GL:- Freight Out:-3
CC:_ Operations:-27600
Payable Entry
Freight Out Account Dr 4500
To AWL Account 4500
Payment Entry
AWL Account Dr 4500
To Bank Account 4500
Invoice No 7
Inv No 1110690
Inv Date 31.01.2018
GL:- Warehouse Rent:-6
CC:_ Operations:-27600
Payable Entry
Warehouse Rent Account Dr 315248
CGST Input Account Dr 28372
SGST Input Account Dr 28372
To AWL Account 371992
Payment Entry
AWL Account Dr 371992
To Bank Account 371992
Invoice No 8
Inv No 066
Inv Date 02.02.2018
Payable Entry
GL:- Printing Charges:-1
CC:_ Marketing:-27750
Printing Charges Account Dr 47825
CGST Input Account Dr 1196
SGST Input Account Dr 1196
To Om Golf Account 50217
Payment Entry
Om Golf Account Dr 50217
To Bank Account 50217
Invoice No 12
Inv No 088
Inv Date 07.12.2017
GL:- Other Promotion:-8
CC:_ Sales:-27710
Payable Entry
Other Promotion Account Dr 7550
CGST Input Account Dr 679
SGST Input Account Dr 679
To Shashi Grpahics Account 8909
Payment Entry
Shashi Graphics Account Dr 8909
To Bank Account 8909
Invoice No 13
Inv No 804
Inv Date 13.02.2018
GL:- Printing Charges:-1
CC:_ Sales:-27710
Payable Entry
Printing Charges Account Dr 1800
To Sangwan Account 1800
Payment Entry
Sangwan Account Dr 1800
To Bank Account 1800
Invoice No 14
Inv No 803
Inv Date 13.03.2018
GL:- Printing Charges:-1
CC:_ Sales:-27710
Payable Entry
Printing Charges Account Dr 6400
To Sangwan Account 6400
Payment Entry
Sangwan Account Dr 6400
To Bank Account 6400
Invoice No 15
Inv No 089
Inv Date 12.03.2018
GL:- Printing Charges:-1
CC:_ Marketing:-27750
Payable Entry
Printing Charges Account Dr 91350
CGST Input Account Dr 2283
SGST Input Account Dr 2283
To Om Golf Account 95917
Payment Entry
Om Golf Account Dr 95917
To Bank Account 95917
Invoice No 16
Inv No SMPL/09/2017-18
Inv Date 01.03.2018
GL:- Office Rent:-7
CC:_ Admin:-27810
Payable Entry
Office Rent Account Dr 362208
CGST Input Account Dr 32599
SGST Input Account Dr 32599
To Star Mark Account 427406
Payment Entry
Star Mark Link Account Dr 427406
To Bank Account 427406
Invoice No 20
Inv No HR201718B011484
Inv Date 29.01.2018
GL:- Freight IN:-13
CC:_ Operations:-27600
Payable Entry
Air Freight Account Dr 122018
To Expeditors Account 122018
Payment Entry
Expeditors Account Dr 122018
To Bank Account 122018
Invoice No 21
Inv No HR201718T044565
Inv Date 29.01.2018
GL:- Clearing Charges:-14
CC:_ Operations:-27600
Payable Entry
Clearing Charges Account Dr 5800
IGST Input Account Dr 1044
To Expeditors Account 6844
Payment Entry
Expeditors Account Dr 6844
To Bank Account 6844
Invoice No 22
Inv No HR201718T041009
Inv Date 11.01.2018
GL:- Clearing Charges:-14
CC:_ Operations:-27600
Payable Entry
Clearing Charges Account Dr 18500
IGST Input Account Dr 3330
To Expeditors Account 21830
Payment Entry
Expeditors Account Dr 21830
To Bank Account 21830
Invoice No 24
Inv No 138
Inv Date 28.02.2018
GL:- Packaging material:-15
CC:_ Operations:-27600
Payable Entry
Packaging Material Account Dr 67919
CGST Input Account Dr 6113
SGST Input Account Dr 6113
To Krishna Packaging Account 80145
Payment Entry
Krishna Packaging Account Dr 80145
To Bank Account 80145
Invoice No 24
Inv No RKPL0324/17-18
Inv Date 08.03.2018
GL:- Third Party Salary:-16
CC:_ Admin:-27810
Payable Entry
Third Party Salary Account Dr 14244
CGST Input Account Dr 1282
SGST Input Account Dr 1282
To RKPL Account 16808
Payment Entry
RKPL Account Dr 16808
To Bank Account 16808
Invoice No 25
Inv No RKPL0326/17-18
Inv Date 08.03.2018
GL:- Third Party Salary:-16
CC:_ Admin:-27810
Payable Entry
Third Party Salary Account Dr 21333
CGST Input Account Dr 1920
SGST Input Account Dr 1920
To RKPL Account 25173
Payment Entry
RKPL Account Dr 25173
To Bank Account 25173
Invoice No 26
Inv No RKPL0325/17-18
Inv Date 08.03.2018
GL:- Third Party Salary:-16
CC:_ Marketing:-27750
Payable Entry
Third Party Salary Account Dr 33226
CGST Input Account Dr 2990
SGST Input Account Dr 2990
To RKPL Account 39206
Payment Entry
RKPL Account Dr 39206
To Bank Account 39206
Invoice No 27
Inv No 433
Inv Date 14.03.2018
GL:- Printing Charges:-1
CC:_ Sales:-27710
Payable Entry
Printing Charges Account Dr 3610
IGST Input Account Dr 650
To Sathyam Outdoor Account 4260
Payment Entry
Sathyam Outdoor Account Dr 4260
To Bank Account 4260
Invoice No 28
Inv No CM873/17-18
Inv Date 14.03.2018
GL:- Printing Charges:-1
CC:_ Sales:-27710
Payable Entry
Printing Charges Account Dr 6340
IGST Input Account Dr 1141
To Color Magic Account 7481
Payment Entry
Color Magic Account Dr 7481
To Bank Account 7481
Invoice No 29
Inv No WH-CAL-DEL-0001
Inv Date 01.03.2018
GL:- Freight Out:-3
CC:_ Operations:-27600
Payable Entry
Freight Out Account Dr 349500
To Genex Account 349500
Payment Entry
Genex Account Dr 349500
To Bank Account 349500
Invoice No 30
Inv No TISKPTMH17-01700
Inv Date 27.03.2018
GL:- Professional Charges:-2
CC:_ Finance:-27800
Payable Entry
Professional Charges Account Dr 8426
IGST Input Account Dr 1517
To SKP Tricor Services Account 9943
Payment Entry
SKP Tricor Services Account Dr 9943
To Bank Account 9943
Parking of Invoice
In Some companies, There is parking & posting System. Invoice is parked by the Executive &
Post by the manager or TL after checking all the parameters in the SAP.
T Code for Parking the Invoice is FV60- It is used by Executive
T Code for Posting the Invoice is FBV0:- It is used by Manager
Difference Between FB60 & FV60
FB60 FV60
FB60 is used to Post the Vendor Invoice FV60 is used to Park the Vendor Invoice
in SAP in SAP
In FB60, Values goes to FBL1N & FBL3N In FV60, Values get hold till it is posted
by the Manager
There is no Maker & Check Concept in There is a maker & Checker Concept in
FB60 FV60
1 13
2
. 3 4
5
6 7
9 10 11
12
Simulate to Check the Entry & then click on Esc (to Back)
Click on Document & Park the document
Now Check the Vendor Ledger:-
No Entry in Vendor Ledger as the document is Parked so No value came here.
Now Manager has to check the document Via FBV0
FBV0- Post Parked Document:- It is used by Manager
Click on Document List
4 1 Enter the Company Code
2 Enter the Fiscal Year
3 Enter the Id of the Employee
Double Click on the document No to open
Manager can check all
the information input by
the maker. He can also
edit the info if entered
incorrectly or ask the
maker to edit the info
and save it again.
If all information seems
ok then he post the
invoice & the value
goes to FBL1N & FBL3N.
Check FBL1N after posting via FBV0
SquNik
Document Edit & Display- FB02 & FB03
Reversal- FB08
Rectification – FB50
FB02:- Change Document
In Sap, there is no provision of deletion of any entry. If any entry is posted incorrectly then we
have two option either to reverse it or rectify it. But Sap provides FB02 T code in which we
can edit the entry details for Reference, DHT (Document Header Text & Text).
FB03:- Display Document
FB03 is used to display the document in SAP.
Reversal of
Document
Reversal of Reversal of
Open Item Cleared Item
(Payable) (Payment)
FB08 FBRA
FB08:- Reversal of Open Item
Check the entry, Back (F3) & save it
Check the vendor Ledger by FBL1N (In Cleared Item), Reversal, Payment Entry comes under cleared
Item.
You can see another entry of KA & the net impact of KR & KA is zero now. KR entry became null now.
We can take the fresh entry.
1. FB60- Post Vendor Invoice
2. FV60- Park Vendor Invoice
3. FBV0 – Post Parked Document
4. FBL1N – Vendor Line Item Display
5. FBL3N – GL Line Item Display
6. FB02 – Change Document
7. FB03 – Display Document
8. FB08 – Reversal of Open Item
PROCURE TO PAY CYCLE
P2P
Purchase Requisition ( PR)
It is a document generated by the Any of the department including
(production or the operation department) & sends to the
procurement (Purchase) department regarding the quantity & the
time frame. On the basis of purchase requisition received, the
Procurement team starts exploring the vendor.
T code to generate Purchase Requisition in SAP is ME51N
For example :- The Company (Callaway Golf India) is in trading
business of apparel & require 2000 Men’s T Shirts.
Request for Quotation ( RFQ)
On the basis of request received, the procurement/Purchase team ask the vendor
to submit the quotation & finalized the vendor accordingly.
Here, we have to create the vendor in the SAP by using T Code BP at three levels.
Purchase
Org Level For example :- The Company receive three
General
Level quotation
1. Yango Group 500 per T shirt
Company
Code
2. Kid Line 600 Per T Shirt
Level 3. NC Accessory 550 Per T Shirt
Procurement team has finalized Yango & create
the purchase order.
Vendor Creation
Purchase Order-ME21N
It is an agreement between buyer & seller & it is generated by Buyer.
It contains required quantity, agreed Price, Bank Details, GST No, PAN
No, Description of Goods, Place of Delivery, Time of Delivery etc.
Standard PO Contract PO Planned PO Blanket PO Types of PO
To Check Po the T Code is ME2L or ME23N.
For example :- Now the Purchase order is to be created between
Callaway Golf (buyer) & the Yango group (seller)
Material Receive (MIGO)
Now the vendor delivers the Material & the storekeeper
receives it & get it count & pass the entry in SAP by using T
Code MIGO
Inventory In Account Dr
To GR/IR Account/GRN/MRN
GRN is a written acknowledgement that confirms that goods
or invoice has been received.
It is also called as GRN (Goods Receipt Note) or MRN
(Material Receipt Note)
For example :- 2000 T Shirts has been delivered by the Yango Group at Callaway
Golf Plant. It will be counted & stored by the Storekeeper.
Invoice Processing (MIRO)
Now, we receive the soft copy of invoice &
before processing it, we have to verify the
invoice in terms of 2 Way Match, 3 Way
Match & all the commercial parameters.
Once we done with Invoice verification, we
have to process the invoice via T Code
MIRO
GRN/GR/IR Account Dr
To Yango Account
Here GR/IR Is Cleared & payable is created
2 Way Match:- PO & Invoice Match
3 Way Match:- PO , Invoice & GR/IR Match
Vendor Payments
On the basis of the payable created in the system, we have to release the
payment.
Payment are of two types
Normal
Payment
Yango Account Dr
To Bank Account
Vendor Advance
Here we need to clear the Vendor.
Payments payment
1. Normal Payment against Payable Entry:- there should be payable entry in the
System & payable should be due for payment.
2. Advance payment.
Reconciliation & Reporting FBL1N
1. Create Vendor (VMD)
2. Create Material (MDM)
3. Purchase Info Record-(Purchasing)
4. Create Purchase Order-(Purchasing)
5. GRN (Inventory)
6. Invoice Processing (MIRO)-(AP Team)
7. Vendor Payment (Payment Team)
Step 1:-Create Vendor/Supplier/BP
Go to T Code BP & Click on Organization.
Create Vendor/Supplier/BP
1) General Level:- 00000 Business Partner (Gen)
2) Grouping must be Do12
Create Vendor/Supplier/BP
Click on Identification & give the Industry & the GST No as mentioned in
VMD foam.
Create Vendor/Supplier/BP
Click on Payment transactions & Enter the details
19:- In for India, 20:- Bank Key (IFSC Code), 21:-Bank Account No
22:- Account Holder (Saving or Current) , 23:- Account Name
Create Vendor/Supplier/BP
Enter & Save it. You will get the Business partner Number
Create Vendor/Supplier/BP
Click on Change/display icon to open the BP & give the roles of
(FLVN00) of company code.
Create Vendor/Supplier/BP
Click on Company code, Delete the company code 1710 & Enter 2700
Create Vendor/Supplier/BP
Search the reconciliation account as creditors.
Create Vendor/Supplier/BP
Payment Terms is the terms between buyer & seller for releasing the payment. It
Could be immediate, 30 days, 45 days depends on company to company.
Payment Method is the way of releasing the payment. It could be bank transfer
or issuing cheque.
House bank is the bank where the company has a account with. You can use
them for process the transaction.
Create Vendor/Supplier/BP
Save the data. Now vendor is created & vendor code is generated by Sap. Now
vendor is created for two level, General & Co Code Level, we have to give roles
of purchasing i.e the third role.
Create Vendor/Supplier/BP
Now give the roles of FLVN01 for Purchase Org/Supplier.
Create Vendor/Supplier/BP
Click on purchasing, Enter Purchase org as VIPR & give order currency &
payment terms & Save the data. Vendor is fully created for procuring goods or
services.
Step 2:-Create Material-MM01
Go to MM01 T Code & select the Industry Sector & Material Type & Click on Org
Level & Select views:- 1) Basic Data 1 2) Basic Data 2 3) Purchasing 4) General
Data 1) 5) General Data 2 6) Accounting 1 & then Click on Org Level & Enter
Plant & Storage Location.
Material Master Creation-MM01
Enter the information in basic data 1 Tab.
Material Master Creation-MM01
Nothing to fill in basic data 2 Tab
Material Master Creation-MM01
In Purchasing we need to fill the Purchasing Group:- PG, Click on Automatic PO if
you want to create the PO automatically.
Material Master Creation-MM01
In General Plant Data 1:- Nothing to Fill.
Material Master Creation-MM01
In General Plant Data 2:- Nothing to Fill.
Material Master Creation-MM01
In Accounting 1:- Mention the Valuation Class & the Standard Price.
A valuation class is used to `determine the general ledger account for the
materials stock account. In automatic account determination, valuation classes
must be created and then assigned to material types.
Step 3:-Purchase Info Record:- ME11
Here we have to link the Vendor with the Material so that at the time of PO
Creation, Sap will pick the price automatically.
Purchase Info Record:- ME11
Step 4:-Creation of PO:- ME21N
It is an agreement between buyer & seller & it is generated by Buyer.
It contains required quantity, agreed Price, Bank Details, GST No, PAN
No, Description of Goods, Place of Delivery, Time of Delivery etc.
No Journal Entry is created at the time of creation of PO
Step 4:-To Check PO ME23N is the T Code
Step 5:-Goods Receipt Note (GRN by MIGO)
Inventory Account Dr
To GR/IR or GRN Account
Goods Receipt Note (GRN by MIGO)
Tick Here & Click on Post
Here Journal Entry is Created
Stock/Inventory Account Dr 2400
To GR/IR Account 2400
You can check this in FBL3N as both are GL
Check the PO History by ME23N.
Step 6:-Invoice Processing by MIRO
Before Processing any invoice, we need to do the 2 Way & 3 Way Match & Commercial Parameter
2 Way:- Price & quantity of Invoice are match with PO.
3 Way:- Price & quantity of Invoice are match with PO & GRN
Commercial Parameter includes Inv No, Inv Date, Name & Address of both the parties, GST No of
both the parties, Description of Goods, Price, Quantity, Total Value, Tax Rate, Tax Amount, Taxable
value, Invoice should be signed by the authorized person.
Once you post the entry, The Journal Entry is created
GR/IR Account Dr
To Vendor Account
Check the Vendor Account By FBL1N. Payable Entry is created & now Payment is Pending
Check the GR/IR Account By FBL3N-GRN is cleared now which means Goods & Invoices both booked.
Material Invoice Processing-MIRO
Invoice
TNN India Pvt Ltd GST 07BPBCK9081M1ZK
Plot No 144 Dwarka Sector 9
Delhi 110035
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No A1210 Inv Date 04 Jan 2026
6
PO No:- 4500004455
Golf Club 15 50,000 7,50,000
CGST Input 2.5 % 18,750
SGST Input 2.5 % 18,750
Total 7,87,500
Invoice
Sony India Pvt Ltd GST 06BABCK7034KJ1ZL
Tower A Second Floor
Cyber City Gurgaon 122004
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No 241 Inv Date 04 Jan 2026
PO No:-4500004456
Home Theater Speaker 10 40,000 4,00,000
CGST Input 2.5 % 10,000
SGST Input 2.5 % 10,000
Total 4,20,000
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST121 Inv Date 23 April 2025
PO No:-450004457
Ignition Cables Kit 200 570 114000
CGST Input 2.5 % 2850
SGST Input 2.5 % 2850
Total 119700 `
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1030 Inv Date 23 Jan 2026
PO No:- 4500004458
Ignition Cables Kit 50 570 28500
CGST Input 2.5 % 712.50
SGST Input 2.5 % 712.50
Total 29925
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1031 Inv Date 23 April 2025
PO No:- 4500004458
Ignition Cables Kit 30 570 17100
CGST Input 2.5 % 427.50
SGST Input 2.5 % 427.50
Total 17955
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1032 Inv Date 23 Jan 2026
PO No:- 4500004458
Ignition Cables Kit 20 570 11400
CGST Input 2.5 % 285
SGST Input 2.5 % 285
Total 11970
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1040 Inv Date 23 Jan 2026
PO No:- 450004459
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Debit Note:- FB65 & MIRO
Debit Note is issued where there is a purchase return of goods & it is issued by buyer.
We have purchased 100 qty of Rs 570 each of Ignition Cables from Spark Industries & the entry
would be
GRN Account Dr 57000 Stock 100 Qty--MIGO
CGST Input Dr 1425 Return-20
SGST Input Dr 1425
To Spark Industries Group 59850
We return 20 qty to the vendor
Vendor Account Dr 11400 Stock -20 (570 X 20=11400)+2.5+2.5%
To Purchase Return 11400
Vendor Ledger
RE -59850
KG 11400
Total 48350
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1111 Inv Date 23 Jan 2026
PO No:- 4500004458
Ignition Cables Kit 20 570 11400
CGST Input 2.5 % 285
SGST Input 2.5 % 285
Total 11970
Service Material Service
Post MIRO FB60
Park MIR7 FV60
Post Parked Doc MIRO FBV0
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1063 Inv Date 24 Jan 2026
PO No:- 4500004460
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1122 Inv Date 24 Jan 2026
PO No:- 4500004461
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India GL No 3
207-209 Jasola Cost Center 27600
Delhi 110025
07AADCC7557J1ZC
Inv No ST1090 Inv Date 24 Jan 2026
PO No:- 450004462
Ignition Cables Kit 100 570 57000
Freight Char ges 5000
CGST 9% 0
SGST 9% 0 0
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 64850
Subsequent Debit & Credit
A subsequent debit/credit exists when an additional invoice or credit memo is received for a
transaction that has already been invoiced.
It is not possible to post a subsequent debit before an invoice, It means it is posted after MIGO(GR) &
MIRO(IR)
By posting a subsequent debit/credit, the system updates the ordering transaction on a value basis
but not on a quantity basis.
For Example:- You have already received an invoice from your vendor for all the goods received.
Subsequently, freight costs are to be taken into account, however, the invoice quantity remains the
same.
Subsequent Debit & Credit
Case 1:- Subsequent Debit
Additional
PO of 100 Qty of 570 Invoice Received of 100
GRN of 100 Qty Invoice/Supplementary
Each Qty of 570 Each
Invoice (572)
Case 2:- Subsequent Credit
PO of 100 Qty of 570 Invoice Received of Price Over Charged
GRN of 100 Qty
Each 100 Qty of 570 Each Rs 20000
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1123 Inv Date 24 Jan 2026
PO No:- 4500004463
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Supplementary Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No ST1123A Inv Date 24 Jan 2026
PO No:- 4500004463
Ignition Cables Kit 100 2 200
CGST Input 2.5 % 5
SGST Input 2.5 % 5
Total 210
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
ST1123 Inv Date 23 April 2025
PO No:- 4500001203
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Additional Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No 66AB Inv Date 23 April 2025
PO No:- 4500000118
Freight Expense 20000
CGST Input 2.5 % 500
SGST Input 2.5 % 500
Total 21000
What is TDS/Withhold Tax
TDS means Tax deducted at Source. Under TDS, it is the liability of the Service receiver/Buyer to
deduct TDS on behalf of service provider/Seller & deposit the same amount to government on
or before due date.
TDS Comes under Direct Tax while GST comes under Indirect Tax.
The another name of TDS is withhold Tax.
Important Points
There is no TDS in case of Purchase of Fixed Assets
There is No TDS in case of Electricity Bill
Lets throw the Light on below Example
Normal Scenario
Ravi Partap Callaway Golf
Lawyer (Service Provider) (Service Receiver)
Provide Legal Services for hearing Case in Court Receive the Service
Bill Send to XYZ XYZ receive the Bill
XYZ Account Dr 11800 Legal Services Account Dr 10000
To Sales Account 10000 GST Input Account Dr 1800
To GST Output 1800 To ABC Account 11800
(Loss to Government as ABC didn’t pay TDS to Government)
-------------------------------------------------------------------------------------------------------------------------
TDS Scenario
XYZ Account Dr 11800 Legal Services Account Dr 10000
To Sales Account 10000 GST Input Account Dr 1800
To GST Output 1800 To ABC Account 10800
To TDS Payable 1000
(XYZ has to deposit the TDS to the Government & when they pay they pass the Entry
TDS Payable Account Dr 1000
To Bank Account 1000
TDS on GST
TDS is always Calcluated on Pre GST Value:- As per notification 23/2017
Inv No 080
Inv Date 25.11.2017
(TDS Will be Calculated on PRE GST Value i.e 9200
X 1%)
Payable Entry
Printing Charges Account Dr 9200
CGST Input Account Dr 828
SGST Input Account Dr 828
To Shashi Graphics Account 10764 (10856-92
To TDS Payable 92
Payment Entry
Shashi Graphics Account Dr 10764
To Bank Account 10764
TDS on GST
Inv No 082/MB17/0002340
Inv Date 12.02.2018
(TDS Will be Calculated on PRE GST Value i.e
23281+337 X 2%=472)
Payable Entry
Maintenance Account Dr 23281
Parking Account Dr 337
CGST Input Account Dr 2125
SGST Input Account Dr 2125
To DLF Account 27397 (27869-472)
To TDS Payable 472
Payment Entry
DLF Account Dr 27397
To Bank Account 27397
Section under TDS
194J (TDS on
194C (TDS on 194H (TDS on 192B (TDS on 192Q (TDS on
194I (TDS on Rent) Professional &
Contractor) Commission Salary) Material)
Technical Services)
TDS on Professional
194I:- TDS on P&M
Services
TDS on Technical
194I:- TDS on L&B
Services
Section 194C (TDS On Contractor)
Section 194 C States that any person responsible for paying any sum to a contractor for carrying out any
business is liable to deduct TDS as per the rate defined by the Income Tax Act 1961. Supply of Labor
(RKPL) is also covered u/s 194C.
Individual means Sole Proprietor or Person
Rate of Tax
U/s 194C Other than Individual means, Firm,
Company, Trust, Government etc.
2% In case of
1% In case of 20% If PAN is
other than
Individual Not Available
Individual
How to Identify the Identity of a Vendor
By the PAN No or the GST No.
PAN No is the 10 digit No, The forth digit represents the identity of a vendor & GST is the 15th digit No, The
sixth digit represents the identity of a vendor
CAHPK80101 07AADCC7557J1ZC
P:- Person/Individual/Sole Proprietor
F:- Partnership Firm
C:- Company
T:- Trust
G:- Government
Exemption Limit u/s 194C
30,000 in case of Single Invoice during the Financial Year.
1,00,000 in case of Multiple Invoice during the Financial Year.
For Example:-
We have received a Single Bill from Vendor during the FY
Inv No 322 Date 24 Aug 2024:- 20000
IGST 18% 3600
Total 23600
No TDS because value is less than 30000
Inv No 123 Date 10 Aug 2024:- 30000 So Tds Will applicable @1% or 2% depends on the
Inv No 124 Date 10 Sep 2024- 30000 identity of a vendor.
Inv No 125 Date 10 Jan 2024:- 40000
Inv No 126 Date 10 Feb 2024:- 35000
Total is :- 135000
Section 194I (TDS On Rent)
A person who is responsible for paying the rent is also responsible to deduct TDS @2% or 10% if the
amount exceeds 2,40,000 during the FY.
Rate of Tax Exemption
U/s 194I Limit
2% In case of 10% In case 20% If Pan is 2,40,000/-
Rent of P&L of Rent of L&B Not Available during the FY
Section 194J (TDS On Professional & Technical Services)
A person is liable to deduct TDS @ 2% for Technical Services & 10% for Professional Services if the amount
exceeds 30,000 during the Financial Year.
Professional Services Includes:- Consultation, Professional/Legal Charges, Accounts & Audit Fees etc.
Technical Services Includes:- Installation of Plant & Machinery.
Rate of Tax Exemption
U/s 194J Limit
2% In case of 10% In case of
Technical Professional
20% if PAN is 30,000/-
not Available during the FY
Services Services
Section 194H (TDS On Commission & Brokerage)
A person is liable to deduct TDS @ 2% if the amount exceeds 15,000 during the Financial Year.
Rate of Tax Exemption
U/s 194H Limit
20% if PAN is 15000/-
5% during the FY
not available
Section 194Q (TDS On Purchase of Material)
A person is liable to deduct TDS @ 0.10% if the amount exceeds 50 Lakh during the Financial Year.
Rate of Tax Exemption
U/s 19Q Limit
20% if PAN is 50 Lakh/-
0.10% during the FY
not available
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No Jun/2121 Inv Date 17Aug 2024
PO No:- 5500002825
Ignition Cables Kit 100 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Journal Entries of Invoices with TDS
Invoice No 1
Inv No 080
Inv Date 25.11.2017
Comes under Sec 194C as GST No is having P as
6th Character so tax is chargeable @1%
(9200 X 1% =92)
Payable Entry
Printing Charges Account Dr 9200
CGST Input Account Dr 828
SGST Input Account Dr 828
To Shashi Graphics Account 10764
To TDS on Contractor 92
Payment Entry
Shashi Graphics Account Dr 10764
To Bank Account 10764
Invoice No 2
Inv No 087
Inv Date 07.12.2017
Comes under Sec 194C as GST No is having P as
6th Character so tax is chargeable @1%
(25800 X 1% = 258)
Payable Entry
Printing Charges Account Dr 25800
CGST Input Account Dr 2322
SGST Input Account Dr 2322
To Shashi Graphics Account 30444
To TDS on Contractor 258
Payment Entry
Shashi Graphics Account Dr 30444
To Bank Account 30444
Invoice No 3
Inv No 006/2018
Inv Date 31.01.2018
Comes under Sec 194J (Professional Service) so
tax is chargeable @10% for all Assesses.
(50000 X 10% = 5000)
Payable Entry
Professional Charges Account Dr 50000
To Ravi Partap Account 45000
To TDS on Professional & Tech 5000
Payment Entry
Ravi Partap Account Dr 45000
To Bank Account 45000
Invoice No 4
Inv No 1110838
Inv Date 30.01.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @2%
(92587 X 2% =1850)
Payable Entry
Freight Out Account Dr 92487
CGST Input Account Dr 8324
SGST Input Account Dr 8324
To AWL Account 107285
To TDS on Contractor 1850
Payment Entry
AWL Account Dr 107285
To Bank Account 107285
Invoice No 5
Inv No 1110933
Inv Date 30.01.2018
Payable Entry
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @2%
(8827 X 2% =176)
Freight Out Account Dr 8827
CGST Input Account Dr 794
SGST Input Account Dr 794
To AWL Account 10239
Payment Entry
AWL Account Dr 10239
To Bank Account 10239
Invoice No 6
Inv No 1110931
Inv Date 30.01.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @2%
(4500 X 2% =90)
Payable Entry
Freight Out Account Dr 4500
To AWL Account 4410
To TDS On Contractor 90
Payment Entry
AWL Account Dr 4410
To Bank Account 4410
Invoice No 7
Inv No 1110690
Inv Date 31.01.2018
Comes under Sec 194IB so tax is chargeable
@10% for all Assesse
(315248 X 10% =31525)
Payable Entry
Warehouse Rent Account Dr 315248
CGST Input Account Dr 28372
SGST Input Account Dr 28372
To AWL Account 340467
TO TDS On Rent 31525
Payment Entry
AWL Account Dr 340467
To Bank Account 340467
Invoice No 8
Inv No 066
Inv Date 02.02.2018
Comes under Sec 194C as GST No is having P as
6th Character so tax is chargeable @ 1%
(47825 X 2% =956)
Payable Entry
Printing Charges Account Dr 47825
CGST Input Account Dr 1196
SGST Input Account Dr 1196
To Om Golf Account 49261
To TDS On Contractor 956
Payment Entry
Om Golf Account Dr 49261
To Bank Account 49261
Invoice No 9
Inv No 082/MB17/0002340
Inv Date 12.02.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(23281+337 X 2% =472)
Payable Entry
Maintenance Account Dr 22809
Parking Account Dr 337
CGST Input Account Dr 2125
SGST Input Account Dr 2125
To DLF Account 27869
To TDS on Contractor 472
Payment Entry
DLF Account Dr 22809
To Bank Account 22809
Invoice No 10
Inv No 082/MB17/0002341
Inv Date 12.02.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(21912+337 X 2% =444)
Payable Entry
Maintenance Account Dr 21912
Parking Account Dr 337
CGST Input Account Dr 2002
SGST Input Account Dr 2002
To DLF Account 25808
To TDS On Contractor 445
Payment Entry
DLF Account Dr 25808
To Bank Account 25808
Invoice No 11
Inv No 082/MB17/0002342
Inv Date 12.02.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(21912 X 2% = 438)
Payable Entry
Maintenance Account Dr 21912
CGST Input Account Dr 1972
SGST Input Account Dr 1972
To DLF Account 25418
To TDS On Contractor 438
Payment Entry
DLF Account Dr 25418
To Bank Account 25418
Invoice No 12
Inv No 088
Inv Date 07.12.2017
Comes under Sec 194C as GST No is having P as
6th Character so tax is chargeable @ 1%
(7550 X 1% =76)
Payable Entry
Other Promotion Account Dr 7550
CGST Input Account Dr 679
SGST Input Account Dr 679
To Shashi Grpahics Account 8832
To TDS On Contractor 76
Payment Entry
Shashi Graphics Account Dr 8832
To Bank Account 8832
Invoice No 13
Inv No 804
Inv Date 13.02.2018
Comes under Sec 194C but we will not deduct
TDS as we hardly get the service of 50k during
the FY and the Exemption limit is 1,00,000.
Payable Entry
Printing Charges Account Dr 1800
To Sangwan Account 1800
Payment Entry
Sangwan Account Dr 1800
To Bank Account 1800
Invoice No 14
Inv No 803
Inv Date 13.03.2018
Comes under Sec 194C but we will not deduct
TDS as we hardly get the service of 50k during
the FY and the Exemption limit is 1,00,000.
Payable Entry
Printing Charges Account Dr 6400
To Sangwan Account 6400
Payment Entry
Sangwan Account Dr 6400
To Bank Account 6400
Invoice No 15
Inv No 089
Inv Date 12.03.2018
Comes under Sec 194C as GST No is having P as
6th Character so tax is chargeable @ 1%
(91330 X 2% =913)
Payable Entry
Printing Charges Account Dr 91350
CGST Input Account Dr 2283
SGST Input Account Dr 2283
To Om Golf Account 95004
To TDS On Contractor 913
Payment Entry
Om Golf Account Dr 95004
To Bank Account 95004
Invoice No 16
Inv No SMPL/09/2017-18
Inv Date 01.03.2018
Comes under Sec 194IB so tax is chargeable
@10% for all Assesse
(362208 X 10% = 36221)
Payable Entry
Office Rent Account Dr 362208
CGST Input Account Dr 32599
SGST Input Account Dr 32599
To Star Mark Account 391185
To TDS On Rent 36221
Payment Entry
Star Mark Link Account Dr 391185
To Bank Account 391185
Invoice No 17
Inv No ID710428
Inv Date 21.02.2018
Comes under Sec 194C but we will not deduct
TDS as we hardly get the service of 50k during
the FY and the Exemption limit is 1,00,000.
TDS is liable on Management Fee of 650.
Payable Entry
Airfare Overseas Account Dr 21707
Management Fees Account Dr 650
CGST Input Account Dr 58
SGST Input Account Dr 58
To Uniglobe Account 22473
Payment Entry
Uniglobe Account Dr 22473
To Bank Account 22473
Invoice No 18
Inv No DD731831
Inv Date 23.02.2018
Comes under Sec 194C but we will not deduct
TDS as we hardly get the service of 50k during
the FY and the Exemption limit is 1,00,000.
TDS is liable on Management Fee of 150.
Payable Entry
Airfare Overseas Account Dr 2876
Management Fees Account Dr 150
CGST Input Account Dr 13
SGST Input Account Dr 13
To Uniglobe Account 3052
Payment Entry
Uniglobe Account Dr 3052
To Bank Account 3052
Invoice No 19
Inv No HD705684
Inv Date 28.02.2018
Comes under Sec 194C but we will not deduct
TDS as we hardly get the service of 50k during
the FY and the Exemption limit is 1,00,000.
TDS is liable on Service Charge of 100.
Payable Entry
Lodging Account Dr 3700
Management Fees Account Dr 100
CGST Input Account Dr 333+9
SGST Input Account Dr 333+9
To Uniglobe Account 4484
Payment Entry
Uniglobe Account Dr 4484
To Bank Account 4484
Invoice No 20
Inv No HR201718B011484
Inv Date 29.01.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(122016 X 2% = 2440)
Payable Entry
Air Freight Account Dr 122016
To Expeditors Account 119576
To TDS On Contractor 2440
Payment Entry
Expeditors Account Dr 119576
To Bank Account 119576
Invoice No 21
Inv No HR201718T044565
Inv Date 29.01.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(5800 X 2% = 116)
Payable Entry
Clearing Charges Account Dr 5800
IGST Input Account Dr 1044
To Expeditors Account 6728
To TDS On Contractor 116
Payment Entry
Expeditors Account Dr 6728
To Bank Account 6728
Invoice No 22
Inv No HR201718T041009
Inv Date 11.01.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(18500 X 2% = 370)
Payable Entry
Clearing Charges Account Dr 18500
IGST Input Account Dr 3330
To Expeditors Account 21460
To TDS On Contractor 370
Payment Entry
Expeditors Account Dr 21460
To Bank Account 21460
Invoice No 23
Inv No HR201718T049274
Inv Date 15.02.2018
Comes under Sec 194C as GST No is having C as
6th Character so tax is chargeable @ 2%
(22800 X 2% = 456)
Payable Entry
Clearing Charges Account Dr 22800
IGST Input Account Dr 3600
To Expeditors Account 25944
To TDS On Contractor 456
Payment Entry
Expeditors Account Dr 25944
To Bank Account 25944
Invoice No 24
Inv No 138
Inv Date 28.02.2018
Comes under Sec 194Q so tax is chargeable @
0.10%
(67919 X 0.10% = 68)
Payable Entry
Packaging Material Account Dr 67919
CGST Input Account Dr 6113
SGST Input Account Dr 6113
To Krishna Packaging Account 80077
To TDS on Material 68
Payment Entry
Krishna Packaging Account Dr 80077
To Bank Account 80077
What is Vendor Payment
Vendor payment is the process of making the payment to the vendor for the good or
the services provided.
For Vendor Payments:-
There should be a payable Entry in the system
The payable Should be due
Check FBL1N (Vendor Ledger) to see Payable Entry
Over Due
Total Amount to be Paid
Payable Entry
Some Important Terms:-
Payment Terms:- It is the terms between buyer & Seller for releasing the payment. It may
be immediate, 30 days, 60 days etc.
Payment Method:- The way of releasing the payment it may be EFT (Electronic Fund
Transfer) or Cheque`
Base Line Date:- It is the expected date of Payment.
Due Date:- The prime responsibility of the AP team is to release the payment on Time i.e
on due date.
Undue Date:- The payable is not due for payment
Overdue Date :- The payable overdue for payment
Past Due :- The payment has been made after due date
Types of Vendor Payment
Normal Payment Advance Payment
Normal Payment to Vendor:- This is against the payable Entry. First we book the invoice,
create the payable & proceed for vendor payment.
Advance Payment to Vendor:- In this, First we proceed the payment then we book the
invoice against the payment.
T Codes for Normal & Advance Payment:-
Normal Payment Advance Payment
BP- Vendor Creation BP- Vendor Creation
FB60/MIRO- Invoice Booking F-47- Receive Advance Request
F110- Vendor Payment F-110 Advance-Vendor Payment
FBL1N- Check in Vendor Ledger FB60 - Invoice Booking against
(Under Cleared Items) Advance
F-54- For Making Special Item to
Normal
F-44 For Clearing Vendor
FBL1N- Check in Vendor Ledger
Procure to Pay Cycle
P2P
Payment Block
Payment Block in SAP:- It is an indicator which blocks the payment if invoice needs further
investigation.
There are two
types of
Payment Block
A Block R Block
1. A Block:-A block is typically used for down payments, preventing them from being
automatically cleared with other open items during the payment process.
2. R Block:-R block is triggered when an invoice has a discrepancy, like a price or
quantity variance, compared to the purchase order or goods receipt.
Double Click on the document No
Process of Normal Vendor Payment in SAP
There is a T Code F110, for releasing the vendor Payment.
First, we have to set the parameter then Proposal & finally payment run.
1.
2.
3. 4.
Run date:- It is the date of releasing the vendor payment.
Identification:- It is used to identify the Run Date.
Parameter:- In Parameter, we need to enter, 1. Posting Date, 2. Doc Entered upto,
3. Company Code, 4. Payment Method, Next Payment Date & Select the Vendor
Free Selection:- We have nothing to do with Free Selection.
Additional Log:- We have to tick on Due date Check, Payment Method, Line Items of the
Payment documents
After Filling all the details we have to Save it & Check the Status
Now you can see Proposal & Payment Run icon on top
Click on Proposal
Click Here
Check all the details
Click on Payment Run
Process of Advance Vendor Payment in SAP
Book
Special
Receive Release Invoice Check Clear
to
Request Payment against Vendor Vendor
Normal F-
F-47 F110 Advance FBL1N F-44
54
FB60
Receive Request:- First we receive the request from the procurement department
regarding the advance Payment.
Now we have to initiate this request in SAP. But before that we need to create the
vendor in SAP that is taken care by the MDM Team in Companies.
F-47 for initiating advance Request.
2.
1.
3.
4.
5.
6.
7.
Document Date:- Date of initiating the request
Document Type:- KZ ( For Vendor Payment), KR (For Vendor Reversal), KA (Vendor
Reversal)
Posting Date:- Date of Entering it in SAP
Reference:- Narration
Document Header Request:- Narration
Account:- Vendor Account
SP GL Indicator:- A is used for Advance Request
Check in FBL1N.
Now we have to release the payment via F110, the same way as we did in normal payment.
Save the Data
Check in FBL1N.
Now F is converted into A. It’s a Special Indicator
Now we have to Book the Invoice via FB60.
Check in FBL1N.
Now we to Make Special Item to Normal Item by F-54 so that clearing can be possible
Click here to Block & Save it
Double Click on Blue Line Item
And Save it
Check in FBL1N.
Special Indicator Removed
Now we have to clear the vendor by F-44.
Check in FBL1N.
Process of Manual Payment in SAP by F-53
Cheque Issue date 31.07.2022
Cheque No 1234 Paid to Sony India 125000
Cheque No 1235 Paid to RKPL 200000
Cheque No 1238 Paid to ATW 100000
F-53 Post Outgoing Payment
Assigned the payment Entry with the Payable Entry & Save it
FBL1N:- Vendor Line Item Display
FBL1N is used to check the vendor Ledger.
It contains:-
open item (Payable Entry)
Cleared Item (Payment Entry, Reversal Entry)
All items (Payable, Payment & Reversal Entry)
Normal Item (Payable, Payment & Reversal Entry)
Special Item (Advance Payment)
Noted Items (Advance Request)
Parked Item (Invoices Parked)
4
1 2 3
1. Single Vendor:- For Single vendor we have to select the vendor in first box.
2. Vendor in Sequence :- If we want to see the vendor from 1 to 10 then we have to put 1
in first box and 10 in Next box.
3. Multiple Vendor :- If you select the multiple vendor then you have to click on multiple
selections.
4. All Vendors :- If we want to see all the vendors ledger then leave the box blank.
To Check the Record of Single Vendor
5
1
2
4
To Check the Record of Multiple Vendors
To Check the Record of All Vendors
Layout:- Layout is used to add or remove the fields as per our requirement.
Select
Layout Save
Layout
Change
Layout
Change Double click on Change Layout
Layout
Layout:- Layout is used to add or remove the fields as per our requirement.
Layout Saved
What is Vendor Statement?
Vendor Statement is a statement that we need to provide to the vendor for a specified
period.
We need to provide the statement to vendor so that vendor matches his books with
our books to avoid any discrepancy in purchase/sales/debit/credit & Payment.
FBL1N:- Vendor Line Item Display
Go to FBL1N, Enter the vendor Code, Company Code, Enter the Period & Execute it
Select the layout, & Export it in Excel.
Steps to Prepare Vendor Statement in Excel.
1. Control & A :- To Select the data
2. Control & C :- To Copy it
3. Window & R:- To Open New Excel
4. Control & V:- To Paste it
5. Alt + O + C + A:- To Auto Adjust
6. Control & Spacebar:- To Block Column
7. Control & - :- To Delete Column
8. Alt + H + B + A:- To Border data
9. Shift & Spacebar :- To Block Row
10. Control & - :- To Delete Row
11. Control & Shift & 3 :- To format Date
12. Alt & = :- To Auto Sum
13. Alt + H + H :- To Color background
14. Alt + O + H + R:- To rename the Sheet
15. Alt + F + A :- Save As
What is Vendor Reconcilation?
Vendor Reconciliation is the process of Matching the closing balance of the Vendor
statement provided by Vendor with the closing balance of SAP Vendor Ledger. If there is
any mismatch then we have to prepare the reconciliation statement.
Vendor Sends us the statement for a particular period that we need to match with the
SAP Ledger. I go to FBL1N, Select the Vendor Code, Co Code & select the respective
period & Execute & Export it. Now we have two reports one is Vendor statement
provided by Vendor & another is SAP Vendor Statement. We have to match it with the
help of vlookup & highlight the mismatch.
Reason for Preparing Vendor Reconcilation.
Sometimes the Purchase invoice & the Sales invoices don't match with the Vendor
Statement.
Sometimes the payment received & the payment release don't match.
Sometimes the Debit & the Credit Note do not match
Mail to Vendor
Dear Sir,
Please find the attached statement for your reference. Request you to kindly have a look
& take action on the missing items in your books of accounts.
Inv No Inv Date Amount Remarks
INV NO 881 05-Nov-24 -3400 Mismatched in Our Books
INV NO 990 12-Nov-24 -9876 Mismatched in Our Books
INV NO 1061 21-Nov-24 -100102 Mismatched in Our Books
DR2 28-Nov-24 5000 Mismatched in Vendor Books Books
NEFT9511 25-Nov-24 203410 Mismatched in Vendor Books Books
Thanks & Regards,
Rahul
Vendor Query Resolution
We receive the vendor queries on mail that we need to resolve it as per SLA (Service
Level Agreement). Vendor may raise query related to Invoice Status, Payment Status,
Payment Remittance, Account Statement, Tax Related etc.
No 1:- Invoice Related Query
Dear Sir,
Could you please let me know the status of invoice submitted to you last week.
Inv No Inv Date Amount
A123 15 Jan 2024 5000
A125 16 Jan 2024 10000
A129 16 Jan 2024 5000
A136 17 Jan 2024 10000
A151 21 Jan 2024 10000
Thanks & Regards,
Nilesh Jain
Shashi Graphis
No 1:- Invoice Related Query
Reply:-
Dear Sir,
Thanks for your email.
The Said Invoices has been processed from our side & pending for payment.
Thanks & Regards,
Rahul
Callaway Golf
AP Team
No 2:- Payment Related Query
Dear Sir,
Could you please let me know when you are going to release the said payment.
Thanks & Regards,
Nilesh Jain
Shashi Graphis
Reply
Dear Sir,
Thanks for your email.
The payment will be released on 30th of April 2025.
Thanks & Regards,
Rahul
Callaway Golf
AP Team
No 3:- Payment Remittance/Advise/Information Query
Dear Sir,
We have received a payment of rs 30,000/- Thanks, Could you please share me the
payment remittance (Payment Information).
Thanks & Regards,
Nilesh Jain
Shashi Graphis
Reply
Dear Sir,
Thanks for your email.
I have attached the payment remittance for your reference.
Reference Document Date Posting Date Amount in Local Currency Remarks
REF NEFT123 4/16/2025 4/17/2025 258,300.00 Payment
INV NO AB771 4/13/2025 4/14/2025 -119,700.00 Invoice
INV NO JUN 1029 4/13/2025 4/14/2025 -48,825.00 Invoice
INV NO AB782 4/13/2025 4/14/2025 -59,850.00 Invoice
INV NO JUN 1039 4/13/2025 4/14/2025 -29,925.00 Invoice
Thanks & Regards,
Rahul
Callaway Golf
AP Team
No 4:- Statement Related Query
Dear Sir,
Could you please share me the statement of 01 March 2025 to till date.
Thanks & Regards,
Nilesh Jain
Shashi Graphis
Reply
Dear Sir,
Thanks for your email.
I have attached the Statement for your reference.
Thanks & Regards,
Rahul
Callaway Golf
AP Team
Question No 1:- What is Accounting?
Answer:-Accounting is the process of recording and summarizing financial transaction in a useful way.
Question No 2:- What is Accounts Payable?
Answer:-Accounts Payable is the money that a company owned to its Creditors because
company has purchased goods or services from its vendor.
Question No 3:-What is the another name of Accounts Payable?
Answer:-Trade Payables, Creditors, Suppliers etc.
Question No 4:-What is P2P Cycle?
Answer:-P2P means Procure to Pay. In P2P there are multiple departments involved & participation in
procuring goods to realizing payment to vendor.
Step 1:- Purchase Requisition (Requirement):- 20 Laptop
Step 2:- RFQ:- Request for Quotations:- A:- 45,000 B 43,000 C:- 44,000
Step 3:- Purchase Order:- Agreement Buyer & Seller, Buyer (Purchase Team)
Step 4:- Receive the Material:- Storekeeper:-
Inventory Account Dr
To GRN (Goods Receipt Note)
Step 5:- Invoice Process:- Accounts Payable
GRN Account Dr
To Vendor Account Credit
20 44000 8,80000/-
Before Processing of any Invoice, we have to do 2 way Match & 3 Way Match.
2 Way Match:- The Price & Qty which is coming in the Invoice, It should be match with PO
3 Way Match:- The price & Qty which is coming in the Invoice, It should be match with PO alongwith the
GRN Report
Step 6:-Release the Vendor Payment as per payment terms
Vendor Account Dr
To Bank Account
Step 7:- Reconciliation & Reporting
1st Answer of P2P Cycle:- Means Procure to pay. P2P Cycle Starts with creating the Purchase Requisition
then we have to explore the vendor & get the quotations. On the basis of quotation
received, we have to finalize the vendor & create the purchase order. Then the vendor
delivers the material & the store keeper receive it & pass the accounting entry by MIGO
Inventory Account Dr
To GRN Account (Goods Receipt Note)
Then we receive the soft copy of Invoice & we have to process it. Before processing
we have to verify the invoice in terms of 2 Way Match & 3 Way Match & pass the
accounting entry By MIRO
GRN Account Dr
To Vendor Account
Then the payment team release the payment & pass the accounting entry
Vendor Account Dr
To Bank Account
& Finally we have to reconcile the vendor account & report to the management.
2nd Answer of P2P Cycle:- P2P Cycle Starts with Purchase Requisition Then we have quotations from
vendor, after finalizing the vendor we have to create the purchase order, then we receive the
material, at the time of receiving material the storekeeper Pass the accounting entry
Material In Account Dr
To GRN Account
then we receive the invoice copy, After checking, Tolerance Limit, 2 Way Match, 3 Way Match & all
commercial parameter, we process the invoice via T Code MIRO & pass the accounting Entry
GR/IR Account Dr.
To Vendor Account
then we release the vendor payment as per pay terms, , we reconcile the vendor account & report to
the management.
Question 5:- What is the difference between P2P & AP?
Answer:-P2P is a cycle & AP is the part of it.
Question 6:- From where your work starts in P2P Cycle?
Answer:-Invoice Processing
Question 7:- How may departments are involved in P2P Cycle?
Answer:-
1) Purchase Team:- That has a responsibility to get the quotation from Vendor, Create Purchase Order
& manage the vendor.
2) Store Team:- That has a responsibility to receive the material.
3) Accounts Payable Team:- that has a responsibility to process the Invoice.
4) Vendor Payment:- That has a responsibility to release the payment.
5) Vendor Query Resolution/Helpdesk:- That has a responsibility to resolve the vendor query.
Question 8:- What is upstream & Downstream in P2P Cycle?
Answer:- In Upstream we cover purchase department that a responsibility to procure the material &
creates POs & Store Department has a responsibility to store & Count the material.
In Downstream we cover Accounts Payable department, Payment team, Reconciliation etc.
Question 9: What is Purchase Requisition?
Answer: It is a document generated by a any department & sends to the purchase department
regarding the quantity & with in a time frame.
T Code:-ME51N
Question 10: What is Purchase Order?
Answer: A Po is an agreement between buyer & seller & it is generated by the buyer. It Contains:
A) Required Quantity B) Agreed Price
C) Description of Goods D) Tax Rate
E) Bank Details of Vendor F) Payment terms
G) Place of Delivery etc…
Question 11: what is the relevance/Importance/Objective of PO?
Answer: Since it is an agreement between buyer & seller & in any case buyer denies procuring the
material then it acts as legal agreement for further processing.
Question 12: What are the types of PO?
Answer: There are many types of PO
1) Standard PO
2) Planned PO
3) Contract PO
4) Blanket PO
5) Service PO
6) Consignment PO
7) Sub Contracting PO
8) Pipe Line PO
Question 14: How do you know the Purchase order No of the material?
Answer:- It is mentioned in the Invoice, normally on the top, the PO number.
Question 15:- How long is the PO No?
Answer:- 10 Digit
Question 16: What is Standard PO?
Answer:- It is most commonly used PO, it contains all the information like Price, Quantity, Description,
payment terms, delivery date, bank details of vendor etc. For Example:- 200 kg of material of 14/kg
which is going to be deliver tomorrow.
Question 17:- What is Planned PO?
Answer:-Planned PO:- Planned Purchase Order is a long term agreement committed to buy goods &
services from a single source. A Complete Schedule is prepared to procure goods or services. For
Example:-
07 Feb 2024:- Company Needs 200 Kg of Material
15 Feb 2024:-Company Needs 300 Kg of Material
28 Feb 2024:- Company Needs 400 Kg of Material
Question 18:- What is Blanket PO?
Answer:-Blanket PO:- Blanket PO is used for long term purchase to procure goods or services over a
period of time. It is used to procure goods or services of low importance.
For Example:- Stationary Item, House Keeping Item Etc.
We can make direct posting via MIRO, No need of GRN/SES (Service Entry Sheet) entry
Question 19:- What is Contract PO?
Answer:-Contract PO:- Contract:- Contract is an agreement between buyer & Seller over a predefined
material or service over a period of time. It is for unpredictable requirement for Mass production.
Contract are of two types:-
Quantity Contract − If the quantity is fixed then it will be a quantity contract. For Example, Company
needs 800 Jackets for Employees.
Value Contract − If the value is fixed then it will be a value contract. For Example, Company need
Jackets worth Rs 50,000 for Employees.
Question 20 :- What is Service PO?
Answer:-Service Purchase order are prepared for services that are procured. Service PO doesn’t
require GRN since they have no Stock.
For Example:- Consulting Services, Maintenance, Rent etc.
Question 21:- What is consignment PO?
Answer:-A consignment purchase order is an agreement with a vendor that allows the product to be
received, but the inventory still belong to the vendor until the product is used.
Question 22:- What is sub contracting PO?
Answer:-SAP Subcontracting involves sending components to a vendor to manufacture an assembly.
It means employ a person or a firm outside ones company to do work as part of a project.
Subcontracting is a process of assigning or outsourcing a part of work to another party under a
contract
Question 23: How to check the PO in SAP?
Answer: There is a T code ME23N that is used to display the PO.
ME21N:- Create
ME22N:- Change
ME23N:- Display
Question 24: How & Why do we check the PO history in SAP?
Answer: There is a T code Me23N that is used to check the PO & we can check the purchase history as
well from the same t code that determines how much the PO consumed & whether GRN is
posted or not & invoice has been booked or not.
Always Remember:- Purchase History is updated when there is a GRN (Material Receive) of that PO.
Question 25: What is GR/IR or MRN or GRN?
Answer: It is a written acknowledgement that confirms that goods or invoice has been received.
GRN means Goods Receipt Note
MRN means Material Receipt Note
GR/IR:- Goods Received/Invoice Received
Question 26:- What is the Journal Entry at the time of creation of PO?
Answer:- No Journal entry is created at the time of PO.
Question 27: What is Invoice? What does an Invoice Contain?
Answer: An invoice is a non negotiable commercial instrument issued by seller to buyer. It Contains:
A) Invoice No
B) Invoice date
C) Name & Address of both the parties
D) GST No of both the parties
E) Description of Goods
F) Price/Quantity/Rate
G) Tax Rate
H) Taxable Value
I) Tax Amount
J) Total Value
K) Invoice should be signed by the authorized Person.
Question 28: What is Proforma invoice?
Answer: A Proforma Invoice is like a quotation issued by seller to buyer before delivering of goods or
services.
We can’t process the Proforma invoice at any cost.
Question 29: How do you differentiate the Invoice & the Proforma Invoice?
Answer: It is mentioned over the Invoice whether it is a Invoice or a Proforma Invoice.
Question 30: Why do we not process Proforma invoice?
Answer: because it is a quotation but sometimes it is used for releasing the advance payment.
Question 29: What are the types of Invoice?
Answer: There are two types of Invoices:
1) Po Based :- material invoice
2) Non Po Based :- services invoices
PO Based: is an invoice where material is involved, A PO is created before delivering of goods or
services. Example:- 100kg of Material, 500 T Shirts etc
GRN Account Dr
To Vendor Account
Non Po Based Invoice: is an invoice where buyer get the services first & will pay for the bill that seller
sends it. For Example Rent, Maintenance etc.
Expense Account Dr
To Vendor Account
Question 30:- What kind of material invoice do you receive?
Answer:- Generally we received
Clutch invoices
Chemical Invoices
Battery Invoices
Steel Hedge Invoice
Wire Cable Invoice
Gear Invoice
5mm Bolt Invoices
10mm Bolt Invoices
Question 31: What is 2 Way Match?
Answer: Where the price & quantity in the invoice should be match with the PO.
Invoice = PO
Question 32: What is 3 way Match?
Answer: Where the price & quantity in the invoice should be match with the PO & the GRN report.
Invoice = PO = GRN
Question 33:- You have a service Invoice, You 2 way Match, 3 Way Match or Both.
Answer:-2 Way Match
Question 34:- You have a material Invoice, Will you do 2 Way Match, 3 Way Match or both?
Answer:-Both, Po (2 Way Match), GRN (3 Way Match)
Question 35: What is 4 Way Match?
Answer: where the price & quantity in the invoice should be match with PO along with the GRN Report
& with the Quality Report.
500
PO:- 500 X 1000
Storekeeper:- GRN
500 Complete
Quality
Question 36: What is tolerance limit?
Answer: It allows us to process any invoice in SAP. 30 Lakh
Question 37: What is the difference between 2 Way & 3 Way Match?
Answer: 2 Way match where the Price & Quantity in the Invoice Should be match with PO.
3 Way Match where the Price & quantity in the Invoice should be match with PO & GR/IR Report.
Example of 2 Way Match are Rent Agreement, 500 kg of Material
Example of 3 Way Match are 500 kg of Material & 300 T Shirts etc.
2 Way Match is for Service & Material & 3 Way Match is for only Material.
Question 38: You have a Material Invoice of, So Will you do 2 Way or 3 Way Match or both?
Answer: We will do both 2 Way & 3 Way Match
Question 39: You have a Service Invoice of Rent, So Will you do 2 Way or 3 Way Match or both?
Answer: We will do only 2 Way Match as it is a service.
Question 40: How do verify the Non Po Based Invoice?
Answer: We can verify the Non Po Based Invoice/ Service Invoice from the Service Agreement. Every
Expense is linked with Cost Center. So we need to check the cost center as well.
Rent Agreement
Invoice Copy of Rent
Question 41:- What is Cost Center?
Answer:-Is used to allocate the cost of the company as per department wise. It is always link with the
Indirect Expenses.
Question 42: What is the difference between MIGO & MIRO?
Answer: MIGO is done by the storekeeper while MIRO is done by the Invoice Processing Team.
IN MIGO the accounting entry would be:-
Inventory Account Dr
To GRN Account
While in MIRO the accounting entry would be:-
GRN Account Dr
To Vendor Account
Question 43:- What is the Journal Entry in case of Non Po Based Invoice (Service), Po Based Invoice
(Material)
Non Po Based (service)--FB60
Expense Account Dr
to Vendor Account
PO Based Invoice--MIRO
GRN Account Dr
To Vendor Account
Question 44:- What is the T Code to process the Material Invoice & the Service Invoice?
Answer:- MIRO is the T Code to process the material Invoice while FB60 is the T Code to process the
service Invoice.
Question 45: What is the very first Accounting entry created in P2P Cycle?
Answer:- The very accounting entry is created at the time of Material receiving & the entry would be
Inventory Account Dr
To GRN Account
Question 46:- What is the journal entry is created at the time of creation of Purchase order?
Answer:- No Journal entry is created at the time of creation of PO
Question 47:- Who creates the Purchase order?
Answer:- The buyer creates the PO by the T Code ME21N
Question 48:- What is the difference between PO & SO?
Answer:- PO is created by buyer or Purchase Team & SO is created by Seller or Sales Team. PO is
created by ME21N in SAP while SO is created by VA01 in SAP
Question 49:- What is the similarity between PO & SO?
Answer:- Both are agreements
Question 50:- Which is created first PO or SO?
Answer:- Purchase Order is created first on the basis of that Sales Order is created by the Sales Team.
Question 51: What is the difference between FB60 & FV60?
Answer:
1. FB60 is used to Post the vendor Invoice in SAP while FV60 is used to park the Vendor Invoice in SAP
2. In FB60 impact/Value goes to FBL1N & FBL3N while in FV60 Impact/Value get hold till it is post by the
Manager/TL
3. In FB60 there is no maker & checker concept while in FV60 there is a maker & checker Concept.
Question 52: You Process the PO Based Invoice or Non PO Based Invoice?
Answer: I process both the Invoices PO & Non PO Based Invoice.
PO Based Invoice:- Material Non PO Based Invoice:- Services
1) Clutch 1) Rent
2) Bolt 2) Maintenance
3) Wire 3) Freight
4) Gear 4) Professional Charges
5) Engine Oil 5) Business Promotion
6) Air Filter
7) Ignition Spark
Question 53: What is the Process to Process the PO Based Invoice?
Answer: Before processing any invoice we need to check the 2 Way Match, 3 Match & all commercial
parameter like Inv No, Inv Date, PO No, Name & address etc, then we have to go to MIRO T code, then
we have to enter the required fields like Inv No, Inv Date, Amount, Narration & in the footer part we
have to enter the PO No. A GRN line is populated & we have to save the entry.
Invoice
Spark Industries GST 06BPBCK9081M1ZK
Plot No 6 Sector 23
Faridabad 121001
Callaway Golf India
207-209 Jasola
Delhi 110025
07AADCC7557J1ZC
Inv No Jun/1081 Inv Date 14 June 2024
PO No:- 5500001904
Ignition Cables Kit 200 570 57000
CGST Input 2.5 % 1425
SGST Input 2.5 % 1425
Total 59850
Question 54: What are the reasons why an invoice is put on hold?
OR
What are the challenges while processing any invoice?
Answer:
1. 2 Way Mismatch- Sometimes there is a two way mismatch in that case we need to approach the
Concerned Team/person & ask him share the correct invoice.
2. Sometimes the approval of the concerned department is missing in that case we need to approach
the concerned department & ask him to approve the invoice.
3. Sometimes we receive the Proforma invoice(Quotation) rather than invoice that we cannot process.
4. Sometimes GL & Cost Center are missing so in that case we need to send the back the Invoice to
the manager.
Question 55: Before processing any invoice what parameter do you check?
Answer: Before processing any invoice, we need to check the tolerance Limit, 2 Way Match, 3 Way
Match, all commercial parameter along with the approval of the concerned department.
Question 56: What is debit & credit Note?
Answer: A debit note is issued where there is a purchase return of goods and it is issued by buyer. For
Example Short Fall of Goods or defected goods by provide by seller.
Purchase Account Dr
To Vendor Account
Vendor Account DR
To Purchase Return Account
Credit Note: Credit Note is issued where there is a Sale Return of Goods and it is issued by Seller. For
example Defect in goods or wrong delivery of goods.
Customer Account Dr
To Sales
Sales Return Account Dr
To Customer
Debit Note is created by FB65 & credit Note is created by FB75
FB65 & FB75
Question 57:- What is Subsequent Dr & Subsequent Cr.?
Answer:-A subsequent debit/credit exists when an additional invoice or credit memo is received for a
transaction that has already been invoiced.
It is not possible to post a subsequent debit before an invoice, It means it is posted after MIGO(GR) &
MIRO (IR).
Question 58: Apart from Invoice processing what other activity do you cover in your current
organization?
Answer:- Apart from Invoice Processing, I also prepare the vendor Statement & reconciliation &
sometimes resolve the vendor queries.
Question 59: What are the Golden Rules of Accounting?
Answer: There are three Golden Rules of Accounting.
Nominal Account Personal Account Real Account
Dr All Expenses & Losses Dr the Receiver Dr What Comes In
Cr All Income & Gains Cr the Giver Cr What Goes out
Rent, Freight, Salary, Debtors & Creditors Fixed Assets, Bank, Tax etc
Maintenance etc
Complete P&L are comes Complete Balance Sheet are
under it comes under it.
Question 60: How Many Invoices do you process in a single day?
Answer: 90 to 120 invoice per day.
Question 61: How long will it take to process the single invoice?
Answer: 3 to 4 min, as we have to check the 2 way Match & other parameter before processing the
vendor Invoice.
Question 62: If the entry is posted incorrectly then what would be the next step?
Answer: If I post the Entry incorrectly in SAP then in that case I need to approach to the Manager to
reverse the said entry by FB08 (Service) or MR8M (Material) & he will confirm me over mail regarding
the status.
Question 63: What is the T Code to reverse the wrong Entry?
Answer: FB08 is used to reverse the Service Entry in SAP while MR8M is used for reversing the material
Invoice.
Question 64:- How to reverse the Non PO Based Invoice?
Answer:- We go to FB08 T Code & Enter the Document No, Co Code, FY, Reversal Reason
Click on Display on Reversal
Save it
The said entry got reversed
Question 65: What is Cost Center?
Answer: Cost Center is used to allocate the cost of the company as per department wise. Cost Center is
always link with Indirect Expenses.
Question 66:- You receive the Invoice on Mail or hard Copy?
Answer:- I receive the soft copy of invoices on Mail. Our TL receive the invoices on mail & segregate
with us.
Question 67:- What is vendor statement?
Answer:- Vendor statement is a statement that we need to provide to the vendor for a particular period
so that vendor matches his books with the statement provided.
Question 68:- What is the objective to prepare the vendor statement?
Answer:- The objective is to match both the books of the Seller as well as the buyer & avoid any
discrepancies.
Question 69:-How do we prepare the Vendor Statement?
Answer:- First, we go to FBL1N, Enter the fields like Vendor Code, Company Code then go to all item
select the respective period & Execute it.
We select the layout as per our requirement & Export it
(List----Export---Spreadsheet).& mail it to the Vendor
Question 70:- How to export the data from SAP to Excel?
Answer:- For that we need to go to FBL1N, Check the ledger & Click on List--Export & Spreadsheet
Outlook:-It is used for professional mail in companies.
Question 71:- When do you prepare the Vendor statement?
Answer:- We prepare the Vendor statement on monthly basis but sometimes Vendor ask for the
statement in between of a month so we have to provide it accordingly.
Question 72:- What is Layout & how do we make it?
Answer:- Layout contains standard Fields that we require it while preparing the statement. If we need
some extra field then we can click on the change layout button. A pop will come containing Line 1 &
Hidden field option. we drag the filed to Line 1 as per the requirement & Copy it.
Question 73:- What data that we need to provide to the Vendor?
Answer:- We need to provide the data like Invoice No, Invoice Date, Amount, Remarks to the Vendor
Statement.
Question 74:- What is Vendor Reconciliation?
Answer:- Is the process of Matching the closing balance of the Vendor statement provided by Vendor
with the closing balance of SAP Vendor Ledger. If there is any mismatch then we have to prepare the
reconciliation statement.
Vendor Sends us the statement for a particular period that we need to match with the SAP Ledger. I go
to FBL1N, Select the Vendor Code, Co Code & select the respective period & Execute & Export it.
Now we have two reports one is Vendor statement provided by Vendor& another is SAP Vendor
Statement. We have to match it with the help of vlookup & highlight the mismatch.
Question 75:- What are the reason for Preparing the Vendor Reconciliation?
Answer:-
Sometimes the Purchase invoice & the Sales invoices don't match with the Vendor Statement.
Sometimes the payment received & the payment release dont match.
Sometimes the Debit & the Credit Note Do not match
Question 76:- How long will you take to prepare the vendor statement or reconciliation?
Answer:-It depends on the number of line item, normally for three month statement or reconciliation, it
take around 1 hour to prepare the data.
Question 77: What is the difference between Vendor Statement & Vendor Reconciliation?
Answer: We have to prepare the vendor statement & share with the vendor for a particular period while
in Vendor Reconciliation, we need to match the closing balance & if there is any mismatch in the
closing balance then we need to reconcile the data & highlight the mismatch.
Question 79 : How many queries that you receive from Vendors?
Answer: Generally we receive 7 to 10 queries from vendors on daily basis.
Question 80:- On Which Way do we receive the vendor Query?
Answer:- On Mail
Question 81: What is the TAT or the SLA for resolving the queries?
Answer: The TAT (Turn Around Time) or the SLA (Service Level Agreement) to resolve the vendor query is
48 hours but we have to respond the mail or acknowledge the mail at the same time.
Question 82: What if you fail to resolve it within the SLA?
Answer: Then it would be escalated to the Team Leader.
Question 83:- What type of Queries do you generally receive from Vendors?
Answer: We receive the queries pertains to Payment Status, Invoice Status & Vendor Statement.
Question 84: What is your achievement?
Answer: I awarded as the Star of the month in Jan 2026 for clearing the backlog of invoices when
colleague left the organization. I Stretched (extra Work) to clear the backlog of invoices.
Question 85: How do you check the duplicate invoice?
Answer: There are certain Methods to check the duplicate Invoice:
1. As we are maintain the Excel tracker for vendor invoices, so when we enter same Invoice no of the
particular vendor the cell get highlighted as we applied conditional formatting in that.
2. SAP doesn't accept same invoice number of the Same vendor so it shows an error that the invoice
has already been posted against document No.
3. We can also Check the duplicate invoice from PO History.
Question 86: On Which T Codes you are Currently Working On?
Answer: I am Working on FB60, MIRO, ME23N, FBL1N, FBL3N, FB02 & FB03.
Question 87: What is Vendor Master data creation in SAP?
Answer: Vendor Master data creation means to create the vendor or Supplier in SAP with the use of BP.
In BP T Code, we have to fill all the details of vendor like Name, Address, Telephone No, PAN No, GST
No, Bank Details, Payment terms, Payment Method etc.
Question 88:- How do you edit the vendor in SAP?
Answer:- BP is used to edit the vendor details.
Question 89 :- What is Payment terms?
Answer:- Payment terms is the terms between buyer & Seller for releasing the payment. It could be
immediate, 30 days or 60 days depends upon vendor to vendor.
Question 90:- What is the payment terms in your current organization?
Answer:- We have a payment terms of 30 days.
Question 91:- What is Payment method?
Answer:- Payment method is the way of releasing the payment. It could be direct transfer or issuing
cheque.
Question 92 :- What is the payment method in your current organization?
Answer:- The payment method in our organization is Bank Transfer
Question 93:- What is Base Line Date?
Answer:- Base date is the expected date of payment. The net due date is calculated on the basis of
Base line date
Question:- 94:- Do you have any experience in releasing the vendor payment?
Answer:- Yes, I have a tentative experience in releasing the vendor payment. F110 is the t code for
releasing the payment.
For Payment, there should be payable entry in the Vendor Data & payable should be due.
Then we go to F110, then we enter the Run date & identification First, we have to set the parameter in
which we have to mention the company code, vendor, payment method, then we click on due date
etc & save it.
In the second step we have to run the proposal just to check the details whatever we entered is correct
or not.
In the third step we have to run the payment.
Question 95:- You have released the payment twice What should you do in that case?
Answer:-
1) You can adjust the payment with future invoice.
2) Or we can get the refund from the vendor.
Question 96:- When do you release the vendor payment in your current organization?
Answer:- So we have four payment cycle, 1 for urgent payment like Rent, Tax & for utility bills & rest on
10th ,20th & 30th of every Month.
Question 97:- What is utility Bills?
Answer:- Utility bills includes Telephone Bills, Water Bills, Electricity Etc or Gas Bill.
Question 98:- What is Bill to Address, Ship to Address, Sold to Address & payee?
Answer:- Bill to Party:- Where Invoices need to Send
Ship to Party:- Where Product need to deliver
Sold to Party:- The customer who places the order
Payer:- Who makes the payment.
Question 99:- What is Payment Remittance?
Answer:-Payment remittance includes all the information related to payment like date of payment,
Invoice No, Amount of Payment, Reference No, Vendor Name etc. It could be Exl format or Pdf.
Question 100:- What is your daily routine?
Answer:- Domestic Shift...10 to 6
1) I Start my day at 10 AM
2) First, I Check my mails
3) Update the Invoice in Tracker
4) Verify the Invoice
4) Invoice Process
6) Both PO & Non PO
7) No of Invoice
8) Hold the Invoice
10) Prepare the statement & Reconciliation
11) Resolve the Vendor query
Question 101:- What is the ratio of Material Invoice & Service Invoice?
Answer:- Its 60:40
Question 101: How comfortable are you on Excel?
Answer:- I am very much comfortable in excel, I perform basic to advanced operations including
vlookup, vlookup array, sumif, pivot table etc.
Question 102:- How Will you rate yourself out of 10 in Excel?
Answer:- I will rate myself as 7.5 to 8 as excel is very wide to cover.
Question 103:- What is Vlookup?
Answer:- Vlookup means vertical lookup that is used to retrieve the data from a range of cells based on
column No. The formula is
=Vlookup(lookup Value, Range, Column No, 0)
Question 104:- What is billable & Non Billable Expense/Invoice?
Answer:- Billable Invoice means the invoice that is pertains to the work directly related to the client
project & that the client can reimburse you.
Non Billable invoice means the invoice that you can not directly bill to clients.
Question 105:- What is T&E in Accounts Payable (Travel & Employee Reimbursement?
Answer:- T&E means travel & Employee reimbursement. When an employee travels for a business then
he can claim for the expense incurred during business & the T&E has to check the bills & reimburse it as
per company policy.
Question 106:- What do you mean by indexing of Invoice?
Answer:- Indexing of Invoice means bifurcating the invoice as per Vendor Name or Amount wise.
Question 107:- What is the difference between MIRO & FB60?
Answer:- In MIRO, we process the PO Based Invoice i.e material invoice while in FB60, we process the
Non PO Based Invoice i.e Service Invoice.
Question 108:- You Process the domestic invoice or the International Invoice?
Answer:- Domestic Invoice.
Question 109:- What is SOP?
Answer:- SOP means standard operating Procedure in which everything is mentioned step wise to
understand the business.
Question 110:- What is your KPIs (Key Performance Indicator)?
Answer:- My KPIS are:-
1) To Process the Invoice Correctly
2) To Ensure 2 Way & 3 Way Match
3) To Validate the Invoice
4) To Process 90 to 100 Invoices per day.
Question 111:- What are your KRA? (Key Result Area)
Answer:-
I Processed the Invoice Correctly in SAP
I Posted in Correct GL & Cost Center
I verified & Validated the invoice
I Processed 90 to 120 Invoices per day
Question 112- What is the difference between validation & verification?
Answer:-Invoice validation is a part of invoice management wherein all the vendor invoices are
reviewed carefully for any errors or discrepancies.
Invoice Verification means verifying the invoice in terms of 2 Way Match & 3 Way Match
Question 113:- How do you Park the PO Based Invoice?
Answer:- We can park the invoice by MIR7.
Question 114:- How do you park the Non Po Based Invoice?
Answer:- By T Code FV60
Question 115:- How do you post the parked material Invoice & Service Invoice?
Answer:- MIRO is the t code to post the Parked the Material Invoice & FBV0 is the t code to post the
Parked the Service Invoice
Question 116:- You Parked the Invoice or directly post the Invoice?
Answer:- When i joined the organization i was doing parking of Invoices & gradually i got familiar with
the cost & the GL & started posting of invoice directly.
Question 117:-What is Prepaid Expense?
Answer:- the expense that is paid in advance. for example Rent, Insurance, AMC (Annual Maintenance
Cost)
Prepaid Expense Account Dr-------B/S---Assets
To Bank Account
Question 118:-What is prepaid Income?
Answer:- Means the income which is received in advance for example:- Rent, Insurance etc.
Bank Account Dr
To Prepaid Income--------B/s Liabilities.
Question 119:- What is outstanding Expense?
Answer:- means the expense that has been booked but not yet paid.
Expense Account Dr-----P&L Dr
To Outstanding Expense Account----B/s Liabilities Side
Question 120:-What is Outstanding Income?
Answer:-Means the income that is earned but not yet received.
Outstanding Income Account Dr--------B/S Assets
To Income ----P&L Cr
Question 121:-What is Deferred Revenue Expenditure?
Answer:- means the expenditure that has been incurred during an accounting period but the benefit is
to be derived over the period of time for example Advertisement in a metro.
Question 122:-What is Contingent Liability?
Answer:- It is liability or potential loss that may or may not occur depend on the outcome of the event
like Product Warranty or Law Suits.
Expense Account Dr
To Contingent Liability Account
Question 123:- What is Accrued Expense?
Answer:- means the expense in which we have the taken the service but the bill against the said
service has not been received or booked in an accounting system.
Expense Account Dr
To Accrued Expense Account------------b/S Liabilities
Question 124:- What is Fixed Assets?
Answer:- means the assets that is used for a longer period & that cannot be converted into cash easily
or Quickly.
Fixed Assets Account DR
To Vendor Account
Liabilities Assets
Fixed Assets-100000
Question 125:- What is Depreciation?
Answer:- Its the deduction in the value of Fixed Assets due to wear & tear
Entry Depreciation Account Dr 10K ----P&l--Expense
To Accumulated Dep Account 10K-----------B/s-Deducted from Respective Assets
Question 126:-What is Accumulated Dep?
Answer:-It is the total amount of Depreciation calculated during the FY
Liabilities Assets
Fixed Assets-100000
Accumulated Dep:- (10000)
Net Value:- 90000
Question 127:- What is Bank Reconciliation?
Answer:- BRS is the process of matching the closing balance of the bank statement with the closing
balance of bank ledger.
Question 128:-There is a PO of 100 Qty of 570 each & Vendor delivers the full Qty but in Invoice the Price
is 572 each, So what would you do in that case?
Answer:- In that case, we put the invoice on Hold as there is a 2 Way Mis Match.
Question 129:- There is a PO of Qty 100 & GRN 100 Qty & we return the 20 Qty after processing of
Invoice, So What you do in that case?
Answer:- As we processed the Invoice so in that case we need to raise the debit note of 20 Qty by FB65
& store keeper returns the material.
Question 130:- There is a PO of 100 Qty but GRN is of 80 Qty & Invoice is of 100 Qty, What should you do
in that case?
Answer:- In that we have two option either to confirm from the GRN team, or Check the GRN under
Purchase order history & Process the invoice with 80 Qty.
Question 131:- Why we do 2 way match when we have a option of 3 way Match?
Answer:- Both 2 way match & 3 Way match are used for material invoice but if we receive the invoice
of service then we have a option of 2 way match only.
Question 132:- You receive the foreign Invoice of 100 USD & the Exchange rate is 82 on 01st April 2024 &
at the time of payment the exchange rate is 84. Tell me the Journal Entry in this case?
Answer:- At the time of Invoice Processing, the Entry would be
Expense Account Dr 100 Usd & 8200 Inr
To Vendor Account 100 Usd & 8200 Inr
At the time of payment, the entry would be
Vendor Account Dr 100 Usd & 8200
Foreign Exchange Loss 200
To Bank Account 100 Usd 8400
Question 133:- What is Local Currency & Document Currency in SAP?
Answer:- The currency of the company code represents the local Currency & the currency in which the
document is posted is the document currency.
GR/IR Clearing or Reconciliation
GRN is a written acknowledgement that confirms that goods or invoice has been
received.
It is also called as GRN (Goods Receipt Note) or MRN (Material Receipt Note) or GR/IR
(Goods Received/Invoice Received) Report.
When the vendor delivers the Material & the storekeeper receives it & get it count &
pass the entry in SAP by using T Code MIGO (Goods Received).
Inventory In Account Dr
To GR/IR Account/GRN/MRN
When the Accounts Payable Team receive the Invoice of the same material, they
pass the accounting entry in SAP by using T Code MIRO (Invoice Received).
GR/IR Account /GRN/MRN Account Dr
To Vendor Account
Question 1:- Introduce yourself, Brief Yourself, I am interested to know about you, your qualification,
education, experience etc, go through your resume, walk me through your resume.
Answer:-
Name:- Hi, I am Rahul
Location:- I Stay in Faridabad at sector 11
Qualification:-I completed my graduation in commerce from DAV College
Faridabad
Experience:- I have a total experience of 2 Years & currently i am
working with ABC Ltd as an Accounts Executive (Designation)
& my job responsibilities are:-
IT Skills:- I am doing all these activities on SAP S4 HANA & i have working
knowledge of Excel as well.
Family Background:- If i talk about my family background, my father
is a businessman & my mother is a house wife.
I have one brother & one sister
Strength:- My strength are Positivity, Learning new things etc.
So that's all about me
Thank you
6 Job Responsibilities of AP/P2P
1) AP/P2PJob Responsibilities:-
1) Maintain Excel Tracker:- We need to maintain the excel tracker vendor wise for keeping
record of Invoices.
2) Posting of Invoices:- Process both material Invoices (PO based) & Service Invoices (NON Po
Based) in SAP.
3) Verification of Invoices:- I ensure that 2 Way Match & 3 Way match need to be done before
processing the invoice.
4) Check PO History:- For material invoice we need to check the PO history or the status for
GR/IR.
5) Check Agreements:- We also need to check the service agreements for service Invoices.
6) Reports:- We need to prepare reports like vendor statement & reconciliation.
7) Access to other Ledger:- We also have access of General Ledger & vendor Ledger to check
the correct posting.
6 Job Responsibilities of AP/P2P
2) AP/P2PJob Responsibilities:-
1) P2P Cycle:- Being a AP specialist, we must know how P2P Cycle works.
2) Accounts Payable:- Since AP is a part of P2P Cyle, our works starts at Invoice Processing for
creating accounts payable.
3) 2 Way & 3 Way Match:- I need to do the 2 way & 3 Way Match for the invoices.
4) Purchase Order:- Check purchase order by ME23N & cross verify the details of Invoice with
PO.
5) Process Invoices:- We have to process 90 to 120 invoices per day.
6) Account Statement:- At month end, we also need to prepare vendor statement.
7) SAP Exposure on S4 HANA:- Working on various T Codes of Sap S4 HAna like MIRO, ME23N,
FB60, FBL1N, FBL3N etc
6 Job Responsibilities of AP/P2P
3) AP/P2PJob Responsibilities:-
1) Review Invoices for appropriate documents prior to invoice Processing.
2) Perform Invoice Processing entry in SAP S4 HANA.
3) Check Purchase order when required.
4) Check Agreements for service Invoices.
5) Ensure all invoices need to post in Correct Vendor & GL.
6) Processing Material & Service Invoices.
7) Participate in Month End Activities by preparing account statements & Reconciliations.
6 Job Responsibilities of AP/P2P
4) AP/P2PJob Responsibilities:-
1) Day to Day Activities:- Performing day to day operations including verifying, Classifying &
recording accounts payable data.
2) Investigate discrepancies:- Verify Invoices & investigate the discrepancies if any
3) Update Excel Tracker:- Maintain excel tracker for invoice processing & update the
document Number & document date with status of processing.
4) Expense & Cost Center:- Under the expense & cost center & ensure correct posting of
invoices.
5) PO & Non PO Based Invoice:- We have the responsibility to process both PO & Non PO
Based Invoices.
6) Generate Reports:- Generate Reports detailing accounts Payable status.
7) Reconciliation:- Reconcile Vendors ledger with to ensure that all invoices & payments are
accounted for & properly posted.
8) SAP & Excel:- I am working on SAP & having working knowledge of Excel as well.
6 Job Responsibilities of AP/P2P
5) AP/P2PJob Responsibilities:-
1) Proven working experience as Accounts Payable Associate
2) Good Understanding of P2P Cyle/Accounts Payable
3) Hands on Experience in SAP & Excel
4) Checking Invoices with agreements & Purchase Orders
5) Checking Purchase order to enure GR/IR via purchase history
6) Process approx. 90 to 100 Invoices Per day
7) Ensure Correct GL & Cost Center must be entered at the time of invoice processing for
correct allocation of expense.
8) Performing accounts payable(Vendor)statement & Reconciliations.
6 Job Responsibilities of AP/P2P
6) AP/P2PJob Responsibilities:-
1) Handling Accounts Payable profile, verifying proper documents for correct posting of
vendor Invoice.
2) Ensure complete information like Company Code, GL Code & Cost Center must be
mentioned in the invoice for correct posting.
3) Check all parameter like Invoice No, Invoice Date, Description, Tax Rates etc & update the
same in the excel tracker.
4) Check & post both Material & Service Invoices.
5) Verifying the Invoice in terms of matching concept including two way & three way.
6) Prepare Vendor Statement & Reconciliation at every Month End.
7) Expertise in SAP & Excel.
Question 2:- Why are you looking for a Job Change?
Answer:- For the sake better Opportunity & skill development, I am looking for Job Change.
OR
For the sake better opportunity & enhancing my area of domain (Profile),i am looking for a Job Change
OR
For Personal & Professional Development, i am looking for a Job Change.
Question 3:- Where do you see yourself after 5 Years?
Answer:- After 5 years, I will see myself as an AM or TL in this organization.
OR
After 5 years, I will see myself as TL with important Profile.
Question 4:- What skills Will your reach to be manager?
Answer:- My decision making ability, positive attitude & learning attitude will reaches me over there.
Question:- 5 What is your Short term goal?
Answer:- Google it & Search
Question :- 6 What is your long term goal?
Answer:- Google it & Search
Question 7:- What is your current CTC (Cost to Company)/Salary?
Answer:- 2.8 lakh per annum==2.8=22500 per month or Whatever your salary is.
Question 8:- Is this a fixed salary or is there any variable part/Incentive involved in it?
Answer:-Its all fixed or with variable,
Question 9:- Do you get your salary in Bank or in Hand?
Answer:- In Bank or Cash, Whatever it is.
Question 10:- Do you have the pay slips & appointment Letter with you?
Answer:- Yes I have
Question 11:- What is your expectations?
Answer:-My expectations is 3.9 to 4.2 lakh per annum
Or
30% hike from the current one.
Question 12:- Is it negotiable?
Answer:- Yes it is
Question 13 :- What is your notice Period?
Answer:- It’s 15 Days or Whatever it is
Question 14:- Is it negotiable?
Answer:- Yes it is
Question 15:- Are your ready to work in US Shift? (5:30 Pm to 2:30 AM)
Answer:- Yes i am comfortable/Flexible.
Question 16:- Did you ever try in Genpact before?
Answer:- No
Question 17:- What is your weakness?
Answer:- Google it & Search.
1. I cant say NO to anybody/any work:- but at the same it hampers my work as well.
2. I can do 2 work Simultaneously:- but sometimes it affects my accuracy.
Question 18:- How much is your total experience?
Answer:- I have a total experience of 2 Years or Whatever your experience is
Question 19:- How much is your relevant experience?
Answers:- Same 2 Years
Question 20:- Is there any deduction from your salary?
Answer:- No its all fixed (No PF Deduction) or Whatever it is
Question 21:- Why should i hire you?
Answer:- With reference to my job Profile I satisfy all the requirement for this job. I have a 2 experience
in AP that is the key requirement for this Job. My Excel Expertise make me different from other & being a
young one i can accommodate in any shift & stretch as per the process requirement.
Question 22:- Why do you want to Join Accenture/Genpact?
Answer:- Its a well know brand & provides great facilities & environment to its employees. It will be a
privilege for me to work with such a brand as everyone want to be a part of it.
Process of Genpact:- 1)HR Round:- Drives (Zoom) 2) Manager 3)Test/Assessment
JLL:- Walk In
Exl:- Walk In
Ramboll:- Zoom
Accenture:-Walk In/Drive:- HR Round 2) Assessment 3) Manager Round
Genpact:- Designation:- PA:- Process Associate (Accounts Executive-3.9 LPA)
PD:- Process Developer (Sr Accounts Executive 4.2 to 4.5)
MT:- Management Trainee-4 Years:- 5 to 6.5 LPA
Offer Letter:- LOI:- Letter of Intent (Offer Letter)—Accept—TYDY—Application +Supporting Documents--
Verification
GR/IR Clearing or Reconciliation
GRN is a written acknowledgement that confirms that goods or invoice has been
received.
It is also called as GRN (Goods Receipt Note) or MRN (Material Receipt Note) or GR/IR
(Goods Received/Invoice Received) Report.
When the vendor delivers the Material & the storekeeper receives it & get it count &
pass the entry in SAP by using T Code MIGO (Goods Received).
Inventory In Account Dr
To GR/IR Account/GRN/MRN
When the Accounts Payable Team receive the Invoice of the same material, they
pass the accounting entry in SAP by using T Code MIRO (Invoice Received).
GR/IR Account /GRN/MRN Account Dr
To Vendor Account
GR/IR Clearing or Reconciliation
Generally, we have to prepare this report at month End.
In this report, We have to reconcile the Goods Received & the Invoice Received.
FBL3N:- Check GRN Ledger
FBL3N:- Check GRN Ledger
F-03 GR/IR Clearing or Reconciliation
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