Bhagwat Bhokare

Key Accounting Entries Every SAP FICO User Should Know

This document includes all the important accounting entries that you should prepare before your interview.

The document contains below entries.

1. Accounts Receivable (AR) – Customer Transactions

Includes customer invoices, payments received, advance payments, and bad debt write-offs.

2. Accounts Payable (AP) – Vendor Transactions

Covers vendor invoice postings, payments, advance payments, and credit memos.

3. Procure-to-Pay (P2P) Process (MM-FI Integration)

Includes purchase order processing, goods receipt (GR), and invoice verification (MIRO).

4. Order-to-Cash (O2C) Process (SD-FI Integration)

Captures sales revenue postings, customer billing, and incoming payments.

5. Fixed Asset Accounting (FI-AA Integration)

Manages asset acquisitions, depreciation, asset retirement, and revaluation.

6. General Accounting Entries (FI Module)

Includes journal entries, accruals, provisions, and adjustments.

7. Tax Accounting Entries (FI-TAX Integration)

Records GST, VAT, withholding tax, and other statutory tax postings.

8. Bank & Cash Transactions (FI-BANK Integration)

Handles bank reconciliations, check payments, and cash journal entries.

9. Financial Closing Entries

Includes period-end closing, balance sheet adjustments, and P&L finalization.

10. Controlling (CO) – Cost Allocations & Settlements

Covers cost center accounting, internal orders, and profitability analysis.

11. Inventory Accounting (MM-FI Integration)

Tracks inventory valuation, material movements, and stock adjustments.