FI Processes SCC
FI Processes SCC
FI Processes SCC
Introduction
It is strongly recommended that you read through the entire exercise prior to starting. Not all
instructions can be provided in a linear manner in the exercise itself. READ CAREFULLY!
The following symbols are used to indicate important information as described below.
An arrow highlights an important instruction that must not be overlooked.
A pencil prompts you to write down 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 three-digit ### in these
exercises, replace it with your identifier.
Differences in Font: Throughout this exercise you will see tables with different fonts used in the
Data Entry column(s). The normal Times New Roman indicates you enter exactly what is typed
out except for the ## Symbol where you would put in your identifier. The italicized Times New
Roman font indicates the data is looked up, found, or otherwise not to be entered literally as
written.
Provide both the code and its description in your answers. The questions are designed for you
to locate the code but also understand the meaning
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.
The exercise is about paying off liabilities within the accounting statements.
Exercise Prerequisites
Exercise Workflow
Exercise Deliverables
Deliverables are consolidated into one worksheet at the end of the exercise. It is only necessary
to turn in that worksheet and that worksheet alone along with data in the system if required.
In the System:
Journal Entries
On Paper:
Answer(s) to Question(s)
Document Number(s)
You may be assigned additional deliverables. Make certain to check with your instructor.
Chapter 03, Exercise 03-02 Page 3 of 16
In this step, an outside investor invests $60,000 into 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 to GBI’s bank account within the SAP system.
Step 1.1: In the “SAP Easy Access” screen, follow the navigation path below:
Navigation
Accounting Financial Accounting General Ledger Document Entry Enter G/L Account
Document
Step 1.2: You are in the “Edit G/L Account Document: Company Code US00” screen.
Enter the following information:
Step 1.3: At the bottom of the screen, enter the following information:
Notice the status light will turn to green when done correctly.
Hint: View the top of the screen for the type of document.
Exercise Deliverables
In the System:
Journal Entries
On Paper:
Answer(s) to Question(s)
Document Number(s)
Chapter 03, Exercise 03-02 Page 5 of 16
In this step, you view the account balance of the posting you have made in the previous step.
Step 2.1: In the “SAP Easy Access” screen, follow the navigation path below:
Navigation
Accounting Financial Accounting General Ledger Account Display Balances (New)
Step 2.2: You are in the “G/L Account Balance Display” screen.
Enter the following information:
Hint: To search for the bank account number, click on the icon or press on the “F4” key
while having your cursor in the field. When searching for the account, make sure that you
search through the correct chart of accounts (GL00) and increase the number of hits possible.
5: What is the general ledger account number for the bank account? 100000
6: What is the account document currency? USD
7: What is the current debit balance for the bank account? 1047,325.00
Step 2.4: In the “Balance Display: G/L Accounts for the Ledger OL” screen, double-
click on the debit balance (at the bottom right of the “Cum. balance”).
The following screen lists all of the transactions for the selected month. The “DocumentNo.”
column breaks down all of the changes in the bank account by separate transactions.
Step 2.5: You are in the “G/L Account Line Item Display G/L View” screen.
Select the document within the chart which corresponds with your document
number from step 1 by placing a check mark.
Chapter 03, Exercise 03-02 Page 6 of 16
Step 2.7: In the “Display Document: Line Item 001” screen, click on the icon.
Pressing on the F9 key will also do the same. This will also call up the document overview.
This will let you view the journal entries. Two fields to the left of the account number is the
posting key field. The posting key describes the type of transaction (expense, credit memo,
stock initial entry, etc.) that is entered into a line item during accounting document creation.
The document overview will bring up a screen or page that will display the accounts used by
the document from Step 1 and indicate how they are affected by this transaction when posted.
Exercise Deliverables:
In the System:
None
On Paper:
Answer(s) to Question(s)
Chapter 03, Exercise 03-02 Page 7 of 16
In this step, you purchase supplies. Because it is a cash transaction GBI will not assume liability.
Step 3.1: In the “SAP Easy Access” screen, follow the navigation path below:
Navigation
Accounting Financial Accounting General Ledger Document Entry Enter G/L Account
Document
14: What is the transaction code to purchase supplies with cash? FB50
Step 3.2: You are in the “Enter G/L Account Document: Company Code US00” screen.
Enter the following information:
Step 3.3: At the bottom of the screen, enter the following information:
A yellow warning message may occur about a future date. If this should happen, click on the
icon to continue. Keep this in mind for the following steps for the rest of this exercise.
Review your supplies expense and your bank account to answer the following questions for
this exercise while using transaction FB03. While in this screen another document can be
viewed by going to Document (on the very top of the screen), then “Other Document…
(Shift+F5).”
As previously stated, the following information may also be found by displaying the
balances, then breaking down to the individualized transactions.
16: What is the general ledger account number for the supplies expense? 740000
17: What is the general ledger account number for the bank account? 100000
18: What is the posting key for the supplies expense? 40
19: What is the posting key for the bank account? 50
Exercise Deliverables:
In the System:
Journal Entries
On Paper:
Answer(s) to Question(s)
Document Number(s)
Chapter 03, Exercise 03-02 Page 9 of 16
In this step, GBI purchases supplies via payables-miscellaneous and then pays for them at a later
date from its bank. This is a two-step process: receive the supplies and pay for them later.
Step 4.1: In the “SAP Easy Access” screen, follow the navigation path below:
Navigation
Accounting Financial Accounting General Ledger Document Entry Enter G/L
Account Document
20: What is the transaction code to purchase supplies via payables – misc.? FB50
Step 4.2: You are in the “Edit G/L Account Document: Company Code US00” screen.
Enter the following information:
Step 4.3: At the bottom of the screen, enter the following information:
Refer to a previous exercise on how to review account balances. Review the supplies expense
and the payables-misc. account to answer the following questions for this exercise.
22: What is the general ledger account number for the supplies expense? 740000
23: What is the general ledger account number for the payables-miscellaneous? 300200
24: What is the posting key for the supplies expense? 40
25: What is the posting key for the payables-miscellaneous? 50
26: In which period did this transaction take place? 11
Refer previously on how to get back to posting an accounting document to the ledger.
Step 4.7: At the bottom of the screen, enter the following information:
Refer to a previous exercise on how to review account balances. Review the payables-misc.
account and the bank account to answer the following questions for this exercise.
Exercise Deliverables:
In the System:
Journal Entries
On Paper:
Chapter 03, Exercise 03-02 Page 11 of 16
Answer(s) to Question(s)
Document Number(s)
Chapter 03, Exercise 03-02 Page 12 of 16
In this step, GBI pays the rent on its building for the current month and prepays the rent for the
following two months. You must record this transaction in GBI’s books. GBI pays $5,000 per
month so you need to pay a total of $15,000 from GBI’s cash account. You must debit the
current month’s rent using the rent expense account and assign it to the cost center for
administrative costs. You must then debit the payment for the next two months of the year.
The second part of this exercise step simulates the journal entry that will be made the following
month when GBI’s rent payment is due. The bank does not receive the payment when you
prepay rent, the landlord does. The reason that prepaid rent is debited is because of the matching
principle in accounting. The prepaid account is credited when the expense is accrued.
Step 5.1: In the “SAP Easy Access” screen, follow the navigation path below:
Navigation
Accounting Financial Accounting General Ledger Document Entry Enter G/L
Account Document
Step 5.2: You are in the “Enter G/L Account Document: Company Code US00” screen.
Enter the following information:
Step 5.3: At the bottom of the screen, enter the following information:
Refer to a previous exercise on how to review account balances. Review the prepaid rent, the
rent expense, and the bank account to answer the following questions for this exercise.
33: What is the general ledger account number for the prepaid rent? 215000
34: What is the general ledger account number for the rent expense? 740300
Refer previously on how to get back to posting an accounting document to the ledger.
Step 5.6: You are in the “Enter G/L Account Document: Company Code US00” screen.
Enter the following information:
Step 5.7: At the bottom of the screen, enter the following information:
Exercise Deliverables:
In the System:
Journal Entries
On Paper:
Answer(s) to Question(s)
Document Number(s)
Chapter 03, Exercise 03-02 Page 15 of 16
Identifier: BK1
Client: 105
Provide both the code and its description in your answers. The questions are designed for you
to locate the code but also understand the meaning