General Ledger and Single Company Code

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Name(s): Course & Selection: Identifier: Client:

Rachel Song BCIS6243B2
GBI-034
659

Chapter 03: Financial Accounting Exercise 03-02: Basic Financial Accounting Process Single Company Code Version 1 Rev: 01/03/2011

Introduction
General Notes and Information
It is strongly recommended that you read through the entire exercise prior to starting. Not all instructions can be provided in a linear manner. The following symbols are used to indicate important information as described below: An arrow highlights an important instruction that must not be overlooked. A text box prompts you to type-in an important piece of information. Each student or group will be assigned a unique three digit identifier. This identifier is used in all exercises to uniquely identify your data. Whenever you see ### in these exercises, replace it with your identifier. Always work with your data.

Business Process Overview
The financial accounting process allows GBI to pay vendors for services or materials acquired. This process can be used to pay for liabilities that GBI has incurred due to normal operations. This exercise is about paying off liabilities within the accounting statements.

Chapter 04

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Exercise 04-02 Exercise Prerequisites Chapter 04: ProcurementFinancial Accounting Master Data-SCC Exercise 3-1 Process Exercise 04-02: Basic Procurement Process Exercise Single Company Code Workflow Invest in GBI View Account Balances Purchase Supplies for Cash Purchase Supplies Via Payables Misc. Pay Rent

Exercise Deliverables
Deliverables are consolidated into one answer sheet at the end of this exercise. For this exercise you will need the following deliverables.

In the System:
 Journal Entries

On Paper:
 Document numbers for each step.  Answers to the Questions You may be assigned additional deliverables. Be sure to check with your instructor!

Page 2 of 17
For use with Magal / Word: Integrated Business Process with ERP; Copyright ©2011 John Wiley and Sons Publishers, Inc.

Chapter 04

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Exercise 04-02

Step 1: Invest in GBI
Chapter 04: Procurement Process Exercise 04-02: Basic Procurement Process View Account Invest Balances Single Company Code in GBI Purchase Supplies for Cash Purchase Supplies Via Payables - Misc. Pay Rent

In this step, an outside investor invests $60,000 in GBI. You must record this transaction in GBI’s books within SAP. You will credit $60,000 to GBI’s common stock (shareholder equity) account and debit the same amount from GBI’s bank account.

Step 1.1:

Navigate to the transaction to enter in general ledger accounts:

Navigation
Accounting  Financial Accounting  General Ledger  Posting  Enter G/L Account Document Q1:
What is the transaction code to post a journal entry: ---------------------------You may be required to enter in your Company Code: US00.

FB50

Step 1.2:

In the “Enter G/L Account Document: Company Code US00” screen enter the following information: Data Entry Today’s Date Today’s Date

Field Name Document Date Posting Date

In order to search for your Elbow Pads, click on the search box next to the text field. In the search window, enter *### in the Material field. This will bring up all of your materials.

Step 1.3:
Field Name G/L acct D/C

At the bottom of the screen, enter the following information: Data Entry (Line 1) Bank Account Debit 60,000 Data Entry (Line 2) Common Stock Credit 60,000

Amount in doc.curr.

Page 3 of 17
For use with Magal / Word: Integrated Business Process with ERP; Copyright ©2011 John Wiley and Sons Publishers, Inc.

Chapter 04

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Exercise 04-02
(ENTER) Chapter 04: Procurement Process Exercise 04-02: Basic Procurement Process Single Company Code(SAVE)

Q2: Q3:

What is the...
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