Accounting entries in SAP FICO

In this blog, we’re sharing a few sample accounting entries. If you find them valuable, you can access the complete set by purchasing the PDF at a very reasonable price.

Accounts Payable

• Payment of Rent expense with Bank 10000/-

PK	GL Account	Dr/Cr	Amount
40	Rent Expense Account	Dr	10000
50	To Bank Account	Cr	10000

• Vendor invoice for Rent expense (on credit) 10000/-

PK	GL Account	Dr/Cr	Amount
40	Rent Expense Account	Dr	10000
31	To Vendor Master	Cr	10000

• Now make payment to vendor 10000/-

PK	GL Account	Dr/Cr	Amount
25	Vendor Master	Dr	10000
50	To Bank Account	Cr	10000

• If we are getting 3% discount from vendor 10000/-

PK	GL Account	Dr/Cr	Amount
25	Vendor Master	Dr	10000
50	To Bank Account	Cr	9700
50	To Discount Received Account	Cr	300