Accounting Group Posting

Setup/Setting Up Accounting Group Posting

Managing Accounting Group Posting

Understanding Business Partners and Customer Group


Info
Location
Customer
Info
Action
> Customer Groups
Customer Groups define the double-entry accounts for posting when there are transactions with the Business Partners under this group.
You may setup as many Groups as you like.
Note that similar concept applies to Vendor Group too. 
> Business Partners
As you have learned in basic training, Business Partner is where you enter the Customer/Vendor details.
You can also set which Customer/Vendor Group it is classified under.
Note that a Business Partner can be classified only under one Customer Group and one Vendor Group 

 > To do this we have to setup the following:
Chart of Account
Customer Group
Business Partners

Posting Different Income Account for Different Customer

Setting up Chart of Accounts


Info
Location
Setup >Accounts > Chart of Account
Info
Action
> Click SETUP activity
> Click ACCOUNT
> Click CHART OF ACCOUNT module
Filter INC
> Click SEARCH
Select INC0001
>  Click EDIT
DESCRIPTION rename to Service Sales
>  Click UPDATE
Select INC0002
>  Click EDIT
DESCRIPTION rename to Maintenance Sales
> Click UPDATE
Select INC0002
> Click DUPLICATE
Rename DESCRIPTION to Product Sales
> Click ADD
> Close Module

Setting up Customer Groups


Info
Location
Setup > Customer/Vendor > Customer Group
Info
Action
> Click SETUP activity
> Click CUSTOMER/VENDOR
> Click CUSTOMER GROUP module
> Click DUPLICATE
GROUP NAME enter SVC-GRP
INVOICE CR AC select INC0001 Service Sales
DEBIT NOTE CR AC select INC0001 Service Sales
CREDIT NOTE DR AC select INC0001 Service Sales
> Click ADD
> Click DUPLICATE
GROUP NAME enter MAINT-GRP
INVOICE CR AC select INC0002 Maintenance Sales
DEBIT NOTE CR AC select INC0002 Maintenance Sales
CREDIT NOTE DR AC select INC0002 Maintenance Sales
> Click ADD
> Close Module

Now we create Business Partner and define which group they are below


Info
Location
Setup > Customer/Vendor > Business Partner
Info
Action
> Click SETUP activity
> Click CUSTOMER/VENDOR
> Click BUSINESS PARTNER module
> Click NEW
BP CODE enter SCPL
NAME enter Service Customer Pte Ltd
CUSTOMER GROUP select SVC-GRP
> Click ADD
> Click NEW
BP CODE enter MCPL
NAME enter Maintenance Customer Pte Ltd
CUSTOMER GROUP select MAINTGRP
> Click ADD
> Close Module

To facilitate issuing of invoice, we create an item.


Info
Location
Setup > Item Details > Item
Info
Action
> Click SETUP activity
> Click ITEM DETAILS
> Click ITEM module
> Click NEW
CODE enter GSVC
GROUP select Service Group
DESCRIPTION enter General Service
> Click ADD
> Close module

Now we are ready to issue invoices.


Info
Location
Sales > Invoice
Info
Action
> Click SALES activity
> Click INVOICE module
> Click NEW
CUSTOMER select Service Customer Pte Ltd
ITEM select General Service
QTY enter 1
UNIT PRICE enter 500
> Click ADD


Info
Location
Sales > Invoice
Info
Action
> Click EDIT on the newly created invoice
> Click GL
> Close GL module
You can see that the $500 Sales is posted to INC0001 Service Sales Account as set in the Business Partner Group

Info
Location
> Sales > Invoice
Info
Action
> Click NEW
CUSTOMER select Maintenance Customer Pte Ltd
ITEM select General Service
QTY enter 1
UNIT PRICE enter 800
> Click ADD


Info
Location
Sales > Invoice
Info
Action
> Click EDIT on the newly created invoice
> Click GL
> Close GL module
You can see that this 2nd invoice Sales is posted INC0002 Maintenance Sales Account instead.

Understanding Item and Item Group

Info
Location
Products or Services
Info
Action
> Item Groups
As mentioned in the basic training, Item Groups define if the item is a Service or Inventory item.
On top of that, Item Group can also be used to set double-entry accounts for posting on the list of items under this group.
However, to achieve this means you must overwrite the setting dictated by the Customer/Vendor Group.
An illustration and explanation on this will be shown later. You may setup as many Item Groups as you like. 
> Items
As you have learned in basic training, Item is where you enter the details of the items.
Additionally, you can also set which Item Group it is classified under.
Note that an Item can be classified only under one Item Group. 

Posting Specific Item to Specific Income Accounts 


Info
Location
Setup > Item Details > Item Group
Info
Action
> Click SETUP activity
> Click ITEM DETAILS
> Click ITEM GROUP module
> Click DUPLICATE
CODE enter PG
DESCRIPTION enter Pdt Group
PRIORITY (OVERWRITE BUSINESS PARTNER GROUP A/C) Tick
You have to tick on Priority. This will Overwrite the Business Partners (which belongs to a Customer Group) pre-set double entries posting accounts.
INVOICE CREDIT A/C select Product Sales
Select the Account which you want this item to overwrite.
CHANGEABLE A/C AT DOCUMENT Un-Tick
If you tick on this setting, you will be allowed to choose which account to post to during issuing of the document.
> Click ADD
> Close Module


Info
Location
Setup > Item Details > Item
Info
Action
> Click SETUP activity
>  Click ITEM DETAILS
>  Click ITEM module
>  Click NEW
CODE enter PDT
GROUP select Pdt Group
DESCRIPTION enter Hardware Sales
Once an item with the Pdt Group, it is subjected to the Overwriting Double entries Posting set in the Item Group.
>  Click ADD
>  Close Module

Now we are ready to issue an invoice.


Info
Location
Sales > Invoice
Info
Action
> Click SALES activity
>  Click INVOICE module
>  Click NEW
CUSTOMER select Service Customer Pte Ltd
ITEM select General Service
QTY enter 1
UNIT PRICE enter 330
ITEM select Hardware Sales
QTY enter 1
UNIT PRICE enter 990
>  Click ADD


Info
Location
Sales > Invoice
Info
Action
> Click EDIT on the newly created invoice
> Click GL
You can see that this 3nd invoice, there are two Sales posting. $330 is posted to Service Sales Account, which is determined by the Customer Group.
While $990 is posted to Product Sales Account which is determined by Item Group which we have set to overwrite the Business Partner Settings. 
> Close GL module

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