SAP Lessons 1-5

ACCOUNTING using SAP
Business One
Chapter Six:
JOURNALIZING
A Journal is a book in which transaction are recorded in the order in which they occur i.e. in
chronological order.
A Journal is also called book of prime entry because all transactions are entered first in this
book
The process of recording a transaction in Journal is called a Journalizing
An entry made in Journal is called Journal Entry
Special Journals
QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One
Sales Journal - The Sales Journal is a special journal designed to record a single type of frequently
occurring transaction -- in this case, credit sales. This tutorial covers the concept of the sales journal from
the original transactions through the posting process.
Cash Receipts Journal - The Cash Receipts Journal is a special journal designed to record a single type of
frequently occurring transaction -- in this case, cash receipts. This tutorial cover the concept of the cash
receipts journal from the original transactions through the posting process.
Purchases Journal - The Purchases Journal is a special journal designed to record a single type of
frequently occurring transaction -- in this case, credit purchases. This tutorial cover the concept of the
purchases journal from the original transactions through the posting process.
Cash Payments Journal - The Cash Payments Journal is a special journal designed to record a single type
of frequently occurring transaction -- in this case, cash payments. This tutorial cover the concept of the
cash payments journal from the original transactions through the posting process.
The majority of journal entries in SAP Business One come from one of the other modules; sales,
purchasing, payment, and inventory documents post transactions automatically to the G/L. However,
in GAAP accrual-based accounting, you sometimes need to make manual journal entries in the G/L,
such as depreciation entries, accrual entries, correcting entries, and the likeanything, in other words,
that would not come from one of the other SAP Business One modules. When a journal entry is added
manually, it is recorded immediately and cannot be deletedonly reversed.
The purpose of manual journal entries is to record transactions that are not automatically initiated
from a subledger or from another process within SAP Business One. For example, a manual journal
entry might be used to record a finance charge to a customer account or a service fee to a bank
account.
12
Exercise 6.1
1. Log in to SAP Business One
From your desktop, click SAP Business One.
2. Choose company name and enter your User Code and Password. Click OK.
In the Login Window choose Change Company.

The Choose Company window will pop up.
Enter the following information:
User ID Manager
Password asset

Company Name ABC Enterprises
Database Name ABC5
Click OK.
3. Navigate to the section of the system where manual journal entries are to be posted.
Go to Financials > Journal Entry

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5. The system is now ready for a new posting. What would be the Journal Entry document number if
this entry is to be posted?
On the upper left corner there is a field Primary. Next to it would be the document number. Since the
system is still without posted transactions, the document number in this case should be 1.
6. How to add a debit account and debit amount?
In the table, click the first field under the column G/L Account / BP. A selection list will appear. This list is
the Chart of Accounts. For the debit amount, click the field under the column Debit and enter the
amount in figures. The system will just automatically put in currency.
7. Journalize the initial investment of Noypi Aquino in the amount of P100,000 in cash.
Go to Financials > Journal Entry (Document Number is 1)

Set date to Jan. 2, 20XX
Enter the following in the first two line of the table:
A111000 Cash on Hand 100,000

C100000 Aquino, Capital 100,000
Click Add.
Exit by clicking Cancel or x.
7. For journal entries that are not to be posted yet (DRAFT) where shall it be recorded initially in the
system?
14
Journal Vouchers
8. How to use journal vouchers?
You can use journal vouchers to review a batch of financial transactions before posting them. Before
you post the entries as journal vouchers, you have the opportunity to edit, change, or delete entries, as
required. Lets consider a couple of situations in which you would use journal vouchers. Perhaps youre
training a new employee, and rather than risking that some or all of the new employees journal entries
might have to be reversed, you can allow the new employee to create journal vouchers that you can
review. This eliminates the risk that the new employee could post incorrect journal entries that would
have to be reversed later.
In other systems, a journal voucher is sometimes used for a single journal entry. In SAP Business One, a
journal voucher is always used for a batch of transactions which means that you enter multiple journal
entries in one voucher. When you post the voucher to the general ledger, all the journal entries
contained in the voucher are posted together.

9. Add the following entries to the Journal Vouchers. NOTE: Date January 2, 20XX
A210000 Land 1,000,000

C100000 Aquino, Capital 1,000,000
A221000 Machinery 10,000

A111000 Cash on Hand 10,000
To add the first transaction of journal voucher #1:

a. Go to Financials > Journal Vouchers
b. When the Journal Vouchers window appears, click Add Entry to New Voucher.
c. Set date to Jan. 2, 20XX
d. Click the first field under the column G/L Account / BP Name so that a selection list will appear.
e. Click the selection list so that the Chart of Accounts will appear and choose or double-click Land.
Alternatively, you may type A2100000 in the Find field.
Note: The default of the system is that the list of account titles is sorted according to the account codes.
You cannot type account title in the Find field to search for an account title. To sort it according to their
account codes, double-click Account Name. You will notice that the small triangle is transferred from
the Account Number to the Account Name.
f. Type 1,000,000 in the Debit column.

nd
g. Click the 2 field under the column G/L Account / BP Name so that a selection list will appear.
h. Click the selection list so that the Chart of Accounts will appear and choose or double-click Aquino,
Capital. Alternatively, you may type C100000 in the Find field.
i. Type 1,000,000 in the Credit column.
j. Click Add to Voucher.
k. Click Close.
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To add the second transaction of journal voucher #1:
a .In the Journal Vouchers window, click to highlight Journal voucher 1 and click Add Entry to Existing
Voucher.
b. Set date to Jan. 2, 20XX
c. Click the first field under the column G/L Account / BP Name so that a selection list will appear.
d. Click the selection list so that the Chart of Accounts will appear and choose or double-click
Machinery. Alternatively, you may type A221000 in the Find field.
e. Type 10 000 in the Debit column.
nd
f. Click the 2 field under the column G/L Account / BP Name so that a selection list will appear.
g. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash on
Hand. Alternatively, you may type A111000 in the Find field.
h. Type 10 000 in the Credit column.
i. Click Add to Voucher.
j. Click Close.
k. Click Update and click OK to exit from the current screen.
10. Submit the journal entry vouchers to your instructor.
16
Exercise 6.2
3. Add the following entries to the Journal Voucher #2. NOTE: Date January 3, 20XX
O900000 Transportation Expense 1,000

O1300000 Taxes and Licenses 4,000


SOLUTION:

e. Click the selection list so that the Chart of Accounts will appear and choose or double-click
Transportation Expense. Alternatively, you may type O900000 in the Find field.
f. Type 1,000 in the Debit column.
g. Click the 2nd field under the column G/L Account / BP Name so that a selection list will appear.
h. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash on
i. Type 1,000 in the Credit column.
j. Click Add to Voucher.
k. Click Close.
To add the second transaction of journal voucher #2:

a .In the Journal Vouchers window, click to highlight Journal voucher 2 and click Add Entry to Existing
Voucher.
b. Set date to Jan. 3, 20XX
c. Click the first field under the column G/L Account / BP Name so that a selection list will appear.
d. Click the selection list so that the Chart of Accounts will appear and choose or double-click Taxes and
Licenses. Alternatively, you may type O1200000 in the Find field.
e. Type 4 000 in the Debit column.
f. Click the 2nd field under the column G/L Account / BP Name so that a selection list will appear.
g. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash on
h. Type 4 000 in the Credit column.
i. Click Add to Voucher.
j. Click Close.
k. Click Update and click OK to exit from the current screen.
17
4. Add the following entries to the Journal Voucher #3. NOTE: Date January 4, 20XX
A112100 CIB-MBTC 20,000

A112200 CIB-BDO 20,000
SOLUTION:

e. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash in
Bank - MBTC. Alternatively, you may type A112100 in the Find field.
f. Type 20,000 in the Debit column.
g. Click the 2nd field under the column G/L Account / BP Name so that a selection list will appear.
h. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash in
Bank - BDO. Alternatively, you may type A112200 in the Find field.
i. Type 20,000 in the Debit column.
rd
j. Click the 3 field under the column G/L Account / BP Name so that a selection list will appear.
k. Click the selection list so that the Chart of Accounts will appear and choose or double-click Cash on
l. Type 40,000 in the Credit column.
m. Click Add to Voucher.
n. Click Close.
5. Submit the following:

Voucher 1 2 Transactions
Voucher 2 2 Transactions
Voucher 3 1 Transaction
18
Chapter Seven:
SPECIAL JOURNAL - DISBURSEMENTS
Cash disbursements occur in business when a company makes a payment. A number of different
transactions can incur a cash disbursement. Companies record these transactions, as every disbursement
results in a lower cash balance. Disbursements will either result in a use or exchange of assets. Many
companies report disbursements in a separate accounting journal.
Disbursement Journal
Companies usually will maintain a cash disbursement journal as part of their general ledger. Frequent
cash disbursements can quickly fill the general journal, resulting in this subunit of the overall
accounting ledger. Only cash disbursements go in this journal. Companies that initially purchase goods
on credit will record the entry into the purchases journal. Once the payable is due, the company must

disburse cash. This entry is part of the cash disbursements journal.
Outgoing Payments in SAP Business One
With the banking and reconciliation functionality in SAP Business One, you can manage all incoming
and outgoing payments. You can post these payments manually and choose from payment methods such
as check, bank transfer, credit card, or cash. The payment wizard allows you to reconcile and clear
multiple accounts receivable and accounts payable invoices in batch mode by creating a payment run
that generates the payment and automatically posts the journal entry transaction.
19
Exercise 7.1
In the Login Window choose Change Company.

The Choose Company window will pop up.
Enter the following information:
User ID Manager
Password asset
Company Name ABC Enterprises

Database Name ABC
Click OK.
3. Navigate to the section of the system where receipts or collections are to be posted.
Go to Banking > Outgoing Payments > Outgoing Payments
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4. What is the default payer in this document? Is it possible to change it? What are the other
options?
Vendor is the default payer.

It is still possible to change this default.
The other options are Customer and Account. Customer is chosen if a payment is to be made to a
Customer. Account is to be chosen if neither Vendor nor Customer is to be chosen, this will give the user
the option to choose from the chart of accounts, which account is to be debited.
5. Enter the following payments. Disregard VAT.
Date Description
Jan. 5, 20XX Licenses and registration fees to the city treasurer, P4,000 cash.

Office supplies for P2,000 in cash.
Jan. 7, 20XX Paid P15,000 in cash for 3 months rent.
Jan. 10, 20XX Paid P3,000 in cash for additional supplies.
a. Go to Banking > Outgoing Payments > Outgoing Payments

From Vendor, click Account
You are now ready to make the first payment.
Your Outgoing Payment document number is 1.
Change posting, due and document dates to January 5.
b. Enter expense account as your debit.

In the first line of the table, under the column GL Account, click the field so that a selection list
icon will appear.
Click the selection list so that a list of GL accounts will appear.
Choose Taxes and Licenses by double-clicking on it.
Type 4,000 (no currency) under the Net Amount field of the same line.
Since this type of transaction is equivalent to Disbursements Journal, default credit is cash. But,
cash payments may be in different modes. So that, lets do the next step.
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c. Enter cash payment as your credit.
Click the money bag icon which is the payment means in the toolbar. A new window Payment
Means will appear.
Click the Cash tab.
Click the G/L Account field so that a selection list icon will appear. Click the selection list icon.
A list of GL accounts will appear.
Choose Cash on Hand by doing a single click on it. Notice that you are readily provided with the
balance in the Overall Amount field.
In the Total field, type 4000.
Alternative:
1. Click on the calculator icon and enter the amount 4000 then click Copy to Field.
2. Right click on the Total field, click Copy Balance Due.
Click OK.
Click Add.
A system message will appear: You cannot change this document after you have added it
Continue?
Click Add.
Notice that the system is now ready for the second transaction. Notice that the document
number is already 2.
d. Retrieve the journal entry made in Outgoing Payment document number 1.

Still in Outgoing Payment window, click the first data icon in the toolbar.
You are led to document 1.
To view the journal entry made, click the golden arrow after Transaction No.
22 You will be led to the next screen.
Click OK or Cancel to exit from the current screen. The clicking of Cancel does not mean
cancellation of the document. Real cancellation requires reversal.
You are now back in the Outgoing Payments window document 1.
To add a new payment, click the Add button in the toolbar (next to the telescope icon which is
Find for searching)
e. For Jan. 5 (2nd transaction), 7 and 10. Repeat steps A to C with consideration of the correct dates,
amount. For step B, make sure that you have properly chosen the correct expense account.
23
24
Exercise 7.2
3. Navigate to the section of the system where payments are to be posted.
Banking > Outgoing Payments > Outgoing Payments
options?
Vendor; Yes; Customer and Account

5. Enter the following cash payments.
Date Description
Jan. 20, 20XX Pay dates for the employees are

1. 20th of the current month for the 1st 15 working days of the month
th
2. 5 of the following month for the last 15 working days of the
month
Salary: 18,300
Record and pay the employees through cash for their salaries.
Jan. 21, 20XX Paid P10,000 in cash for mobile phone prepaid load.
Jan. 22, 20XX Paid P1,000 in cash for additional supplies.
6. View all entries made through the Transaction Journal Report. Go to Financials > Financial Reports
> Accounting > Transaction Journal Report. In the field Original Journal, choose All Transactions. Set
your posting dates range. Click OK.
7. Submit your Transaction Journal Report to your instructor.
25
26
Chapter Eight:
SPECIAL JOURNAL - PURCHASES
Special Journal Purchases
The purchases journal lists all credit purchases of merchandise. Entries in this journal usually include
the date of the entry, the name of the supplier, and the amount of the transaction. Some companies
include columns to identify the invoice date and credit terms, thereby making the purchases journal a
tool that helps the companies take advantage of discounts just before they expire. The purchases
journal to the right has only one column for recording transaction amounts. Each entry increases
(debits) purchases and increases (credits) accounts payable.
Each day, individual entries are posted to the accounts payable subsidiary ledger accounts. Creditor

account numbers (or check marks if the creditor accounts are not numbered) are placed in the purchases
journal's reference column to indicate that the entries have been posted. At the end of the accounting
period, the column total is posted to purchases and accounts payable in the general ledger.
Procurement under SAP Business One
The flow of information between purchasing, sales, and accounting is much smoother now. . . . With
SAP Business One, we have achieved major savings in terms of time and money.
Sunday Odubote, Financial Accountant,
City Business Computers Limited
With SAP Business One, you gain a detailed view of your vendors and support for an integrated,
centralized vendor data repository so you can make more effective purchasing decisions, identify
opportunities for cost savings, and better manage supplier relationships.
Master data management is a cornerstone of process integration in SAP Business One. Item and
vendor master records are maintained centrally in the system and integrated in all necessary
businesstransactions.
Automating Procurement Processes
SAP Business One offers best-practicefunctionality to support your core

procurementactivities,integrating theentire purchasing process from ordercreation through inventory
updates toinvoice payment.Using the master data that is maintainedcentrally in the system,
purchaseorders can be created in a few straightforwardsteps and mailed, faxed, ore-mailed directly to
the vendor fromwithin the application. To help ensurethat the appropriate levels of goodsare in the
warehouse for timely orderdelivery, SAP Business One also allowsyou to create purchase orders
fromsales orders.
27
Exercise 8.1
3. Navigate to the section of the system where purchase invoices are to be posted.
Go to Purchasing-AP > AP Invoice

Once opened, the system is now ready to accept new sales transaction.
4. Fields for entering the vendor name and vendor code, is keying in or typing required like the name
of the vendor?
No. Since a master data is maintained for each customer (subsidiary ledger), just click the field so that the
selection list will appear. When this icon is clicked, the list of customers is shown. Just click the desired
customer.
5. Is the due date to be manually inputted?
No. When the master data for the vendor was created (subsidiary ledger), Payment Terms or Credit
Term was already defined.
6. What are the options in the Item / Service Type?
a. Items This is chosen if the sales is merchandise.
b. Service This is chosen if the sales is service. The table will no longer show Item. Instead, the field
required will be G/L Account.
7. Enter the following January purchases on account and other payables. Add VAT to the base price.
Date Description
Feb. 5, 20XX Bought two computer machines at CAT Equipment for P70,000.
Credit term is 2/10, n/30. Expected life is five years with a salvage
value of P10,000.
Feb. 6, 20XX Bought computer peripherals at CAT Equipment for the

machines bought the previous day, P30,000.
Feb. 7, 20XX Bought machinery to be used in servicing clients automobiles at

Global Equipment, P300,000. Expected life is ten years with P30,000
salvage value. Term of credit is 10-20-30.
28
a. Go to Purchasing-AP > AP Invoice
AP Invoice document 1 will appear
b. Enter the vendor. This will also set the credit of your document control account Accounts Payable
through the subsidiary which is the vendor.
Click the vendor field. Click the selection list.

Choose CAT Equipment.
Type 05.02 (Feb 5, 20XX) in the Posting Date field.
Press tab. The system automatically assigns the due date field which is 30 days after the
posting and document dates. The reason for this is that during the creation of the subsidiary
ledger for CAT Equipment, the payment term chosen was 2/10; n/30.

c. Enter the appropriate account for the debit.
In the Item/Service Type field, change Item to Service by clicking the dropdown list.
In the first line of the table under the column G/L Account, choose office equipment. In the
column Total (LC) of the same line, type 70,000.
Press tab. Document total is now at P78, 232 since VAT is added.
Click Add or press Enter.
Click Yes when System Message prompts: You cannot change this document after you have
added it. Continue?
The system has just posted AP Invoice document 1.
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d. View the journal entry made in AP Invoice document 1.
AP Invoice must still be open.
Click the 1st data icon in the toolbar.
When in document 1, click the Accounting tab.
Click the golden or navigation arrow after Journal Remark.
You are led to Journal Entry of the Financials module.
Click OK or Cancel to exit.
e. Add the Feb 6 purchase.

In the AP Invoice, make sure that the system is ready to accept a new posting. This must be
document number 2 of AP Invoice. If the document number is still at 1, click the Add icon in the
toolbar. After clicking, the system is now ready as evidenced by the Add button found in the lower
left corner of the document instead of OK.
Choose CAT Equipment.
Type 06.02 ( Feb 6, 20XX) in the Posting Date field.
Press tab. Document total is now at P33,528.00 since VAT is added.
30 added it. Continue?
e. Add the January 7 purchase.
Choose Global Equipment.
In the first line of the table under the column G/L Account, choose Machinery. In the column
Total (LC) of the same line, type 300,000.
Press tab. Document total is now at P334,200.00 since VAT is added.
added it. Continue?
The system has just posted AP Invoice document 3
.

6. What are the balances for Machinery and Office Equipment?
Go to Financials > Chart of Accounts > Click Machinery > Balance field on the right side
Repeat the same procedures for Office Equipment, Accounts Payable and Notes Payable
The balances are: 300,000; 100,000; 445,960 and 0, respectively.
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7. Support the total amount of Accounts Payable through the outstanding liability of each vendor.
Go to Financials > Financial Reports > Accounting > General Ledger > Uncheck Accounts and Click
OK
8. View all entries made through AP Invoice in the Transaction Journal Report. Go to Financials >
Financial Reports > Accounting > Transaction Journal Report. In the field Original Journal, choose AP
Invoice. Set posting dates range from the 1st day to the last day of the month. Click OK.
32
Exercise 8.1
3. Navigate to the section of the system where purchase invoices are to be posted.
Go to Purchasing-AP > AP Invoice

Once opened, the system is now ready to accept new sales transaction.
4. Enter the following January purchases on account and other payables. Add VAT to the base price.

Date Description
Tip: To post below transactions, go to Administration > System Initialization > Posting
Periods. Click the golden or navigation arrow pointing to 20XX-01. Change the due date. It should be
01.01.XX to 31.12.XX plus two Years.
Feb 10, 20XX Purchased land in the amount of P500,000.00 through financing
from LMN Financing. Choose ITX for the Tax Code. Credit Term is
two (2) years. Annual interest is 12%.
Feb. 15, 20XX Bought additional machinery at Global Equipment, P100,000.

Expected life is ten years with P10,000 salvage value. Term of
credit is 10-20-30.
SOLUTION:
1. Go to Administration > System Initialization > Posting Periods.

a. Click the golden arrow pointing to 20XX-02.
b. The posting period window will appear
c. Change the due date from 31.12.XX to 31.12.XX plus two years
d. Click Update. Click OK.
e. Click OK
NOTE: If you forgot to adjust the posting period, you will not be able to add your Feb 10 transaction.
You will also be prompted by an error message:
33
2. Add the Feb 10 purchase.

a. Click the vendor field. Click the selection list.
b. Choose LMN Financing.
c. Type 10.02 ( Feb 10, 20XX) in the Posting Date field.
d. In the Item/Service Type field, change Item to Service by clicking the dropdown list.
e. In the first line of the table under the column G/L Account, choose Land. In the column
Total (LC) of the same line, type 500,000.
f. Click Add or press Enter.
g. Click Yes when System Message prompts: You cannot change this document after you
have added it. Continue?
h. The system has just posted AP Invoice document 4.
3. Add the Feb 15 purchase.

i. Click the vendor field. Click the selection list.
j. Choose Global Equipment.
k. Type 15.02 ( Feb 15, 20XX) in the Posting Date field.
l. In the Item/Service Type field, change Item to Service by clicking the dropdown list.
m. In the first line of the table under the column G/L Account, choose Machinery. In the
n. Click Add or press Enter.
o. Click Yes when System Message prompts: You cannot change this document after you
p. The system has just posted AP Invoice document 4.
5. Give the balances for

a. Machinery - 400,000
b. Office Equipment 100,000
c. Accounts Payable - 557,360.00
d. Notes Payable 500,000
Go to Financials > Chart of Accounts > Click Machinery > Balance field on the right side
34 Repeat the same procedures for Office Equipment, Accounts Payable and Notes Payable
6. Support the total amount of Accounts Payable through the outstanding liability of each vendor.
35
Chapter Nine:
SPECIAL JOURNAL - SALES
Special Journals
Entering transactions in the general journal and posting them to the correct general ledger accounts is
time consuming. In the general journal, a simple transaction requires three linestwo to list the accounts
and one to describe the transaction. The transaction must then be posted to each general ledger account.
If the transaction affects a control account, the posting must be done twiceonce to the subsidiary
ledger account and once to the controlling general ledger account. To speed up this process, companies
use special journals to record repetitive transactions that affect the same set of accounts and have a
consistent description. Such transactions can be documented on one line in a special journal. Then,
instead of separately posting individual entries, each column's total is posted at the end of the accounting
period.
Although companies create special journals for other types of repetitive transactions, almost all
merchandising companies use special journals for sales, purchases, cash receipts, and cash
disbursements.
Sales Journal
The sales journal lists all credit sales made to customers. Sales returns and cash sales are not recorded
in this journal. Entries in the sales journal typically include the date, invoice number, customer name, and
amount. Invoices are the source documents that provide this information. In its most basic form, a sales
journal has only one column for recording transaction amounts. Each entry increases (debits) accounts
receivable and increases (credits) sales.
Notice the dates and posting references applied to each entry in the illustration to the right. Each day,
individual sales journal entries are posted to the accounts receivable subsidiary ledger accounts so that
customer balances remain current. Customer account numbers (or check marks if customer accounts
are simply kept in alphabetical order) are placed in the sales journal's reference column to indicate that
the entries have been posted. At the end of the accounting period, the column total is posted to the
accounts receivable and sales accounts in the general ledger. Account numbers are placed in parentheses
below the column to indicate that the total has been posted.
Many companies use a multi-column (columnar) sales journal that provides separate columns for
specific sales accounts and for sales tax payable. Each line in a multi-column journal must contain equal
debits and credits. For example, the entries in the sales journal to the right appear below in a multi-
column sales journal that tracks hardware sales, plumbing sales, wire sales, and sales tax payable.
Individual entries are still posted daily to the accounts receivable subsidiary ledger accounts, and each
column total is posted at the end of the accounting period to the appropriate general ledger account.
36
Exercise 9.1
3. Navigate to the section of the system where sales invoices are to be posted.
Go to Sales-AR > AR Invoice (Once opened, the system is now ready to accept new sales transaction.)
4. In completing the fields, is keying in or typing required like in the case of the name of the
customer?

No. Since a master data is maintained for each customer (subsidiary ledger), just click the field so that the
selection list will appear. When this icon is clicked, the list of customers is shown. Just click the desired
customer.
5. Is the due date to be manually inputted?
No. When the master data for the customer was created (subsidiary ledger), Payment Terms or Credit
Term was already defined.
6. What are the options in the Item / Service Type?
a. Items This is chosen if the sales is merchandise.

b. Service This is chosen if the sales is service. The table will no longer show Item. Instead, the field
required will be G/L Account.
7. What is the document to be used in cash sales transactions?
AR Invoice + Payment
To access: Go to Sales A/R > AR Invoice + Payment
8. Enter the following January Sales. Add VAT to the base price.
Date Description
Feb 25, 20XX Serviced the BMW car of Ms. Kris Aquino. Total charges is
P15,000.00. Credit Term is 2/10, n/30.
Feb 27, 20XX Serviced the Ferrari car of Mr. Dwayne Wade. Total charges is
16,000. Credit Term is n/30.
Feb 28, 20XX Walk-in clients servicing totaled P10,000 in cash.

37
a. Go to Sales-AR > AR Invoice
AP Invoice document 1 will appear

b. Enter the customer. This will also set the debit of your document control account Accounts
Receivable through the subsidiary which is the customer.
Click the Customer field. Click the selection list.

Choose Kris Aquino.
Type 25.02 ( Feb25, 20XX) in the Posting Date field.
Press tab. The system automatically assigns the due date field which is 30 days after the
posting and document dates. The reason for this is that during the creation of the subsidiary
ledger for Kris Aquino, the payment term chosen was 2/10; n/30.
c. Enter the appropriate account for the debit.
In the first line of the table under the column G/L Account, choose R100000 Service Income. In
the column Total (LC) of the same line, type 15,000.
added it. Continue?
38
d. View the journal entry made in AR Invoice document 1.
AR Invoice must still be open.
Click the 1st data icon in the toolbar.
When in document 1, click the Accounting tab.
Click the golden or navigation arrow after Journal Remark.
You are led to Journal Entry of the Financials module.
Click OK or Cancel to exit.

e. Add the February 27 sales.
In the AR Invoice, make sure that the system is ready to accept a new posting. This must be
document number 2 of AR Invoice. If the document number is still at 1, click the Add icon in the
toolbar. After clicking, the system is now ready as evidenced by the Add button found in the lower
left corner of the document instead of OK.
Choose Dwayne Wade.
Type 27.02 ( Feb 27, 20XX) in the Posting Date field.
added it. Continue?
Click Cancel to exit from the current window.
e. Add the February 28 cash sales.

Go to Sales-AR > AR Invoice + Payment
The Customer is already defaulted to One-Time Customers.
In the Item/Service Type field, change Item to Service by clicking the dropdown list. 39
In the first line of the table under the column G/L Account, choose Service Income. In the
The system automatically computes for the total document amounting to P11,200.00 found
below the table. VAT output of P1,200.00 is actually system-generated.
Payment Means window will appear for the entry of cash payment.
Click the Cash tab.
In the G/L Account field, choose cash on Hand.
In the Total field, right-click and choose Copy Balance Due.
Click OK and the screen for Payment Means will exit.
In the AR Invoice, click Add.
added it. Continue?
Click Cancel to exit.
6. What are the balances for Service Income, Output Tax and Accounts Receivable?
40
Go to Financials > Chart of Accounts > Click Service Income > Balance field on the right side
Repeat the same procedures for Output Tax and Accounts Receivable
The balances are: 41,000; 4,884; 34,684, respectively.
7. Support the total amount of Accounts Receivable.
Go to Financials > Financial Reports > Accounting >General Ledger

When the screen for General Ledger Selection Criteria appears, uncheck Accounts, and
choose None for the Vendor Group field
Set posting date range from the 1st day of the year to the last day of the year
Click OK. Click OK to exit.

8. View all entries made through AR Invoice in the Transaction Journal Report. Go to Financials >
Financial Reports > Accounting > Transaction Journal Report. In the field Original Journal, choose AR
Invoice. Set posting dates range from the 1st day to the last day of the month. Click OK.
41
Exercise 9.2
3. Navigate to the section of the system where sales invoices are to be posted.
Sales A/R > AR Invoice
4. Enter the additional January Sales. Add VAT to the base price.
Date Description
Mar. 2, 20XX Serviced the Toyota Altis car of Mr. Phil Younghusband. Total
charges P11,000.00. Credit Term is 10-20-30.
Mar. 6, 20XX Serviced the Jaguar car of Ms. Kim Kardashian. Total charges is
14,000. Credit Term is n/30.
Mar. 9, 20XX Walk-in clients servicing totaled P20,000 in cash.
SOLUTION:
1. Record Mar 2, 20XX transaction

o In the AR Invoice, make sure that the system is ready to accept a new posting. This
must be document number 4 of AR Invoice.
o Click the vendor field. Click the selection list.
o Choose Phil Younghusband.
o Type 2.03 (Mar 2, 20XX) in the Posting Date field.
o In the Item/Service Type field, change Item to Service by clicking the dropdown list.
o In the first line of the table under the column G/L Account, choose office equipment. In
o Click Add or press Enter.
o Click Yes when System Message prompts: You cannot change this document after you
o The system has just posted AP Invoice document 4.
o Click Cancel to exit from the current window.

o In the AR Invoice, make sure that the system is ready to accept a new posting. This
must be document number 5 of AR Invoice.
o Click the vendor field. Click the selection list.
o Choose Kim Kardashian.
o In the first line of the table under the column G/L Account, choose office equipment. In
42 the column Total (LC) of the same line, type 14,000.
o The system has just posted AP Invoice document 5.
o Click Cancel to exit from the current window.

o Go to Sales-AR > AR Invoice + Payment
o The Customer is already defaulted to One-Time Customers.
o In the first line of the table under the column G/L Account, choose Service Income. In

o Payment Means window will appear for the entry of cash payment.
o Click the Cash tab.
o In the G/L Account field, choose cash on Hand.
o In the Total field, right-click and choose Copy Balance Due.
o Click OK and the screen for Payment Means will exit.
o In the AR Invoice, click Add.
o Click Cancel to exit.
5. What are the balances for Service Income, Output Tax and Accounts Receivable?
Go to Financials > Chart of Accounts > Click Service Income > Balance field on the right side
Repeat the same procedures for Output Tax and Accounts Receivable
The balances are: 86,000; 10,218; 62,618, respectively.
6. Support the total amount of Accounts Receivable.

Go to Financials > Financial Reports > Accounting >General Ledger
When the screen for General Ledger Selection Criteria appears, uncheck Accounts, and
choose None for the Vendor Group field
Set posting date range from the 1st day of the year to the last day of the year
Click OK. Click OK to exit.
43
44

Chapter 10:
SPECIAL JOURNAL - RECEIPTS
A cashreceiptsjournal is a special record used in accounting, usually by retailers. It involves recording
the details of sales in a specific manner. In turn, the cashreceiptsjournal gathers together the relevant
information in a way that makes it easier to copy across, in aggregate, to traditional double-entry
accounts.
Collection in SAP Business One
We can now acquire the information from restaurants in real time. SAP Business One, connecting directly
with our bank online, enhances the efficiency of collections and payments. Precise daily and monthly data
helps us a lot to make top-level strategic decisions promptly.
Yong-Kyu Choi

Vice President of Accounting
Kraze International Inc.
45
Exercise 10.1
3. Navigate to the section of the system where receipts are to be posted.
Go to Banking > Incoming Payments > Incoming Payments
options?
Customer is the default payer.

It is still possible to change this default.
The other options are Customer and Account. Vendor is chosen if a collection is to be made from a Vendor.
Account is to be chosen if neither Vendor nor Customer is to be chosen, this will give the user the option
to choose from the chart of accounts, which account is to be debited.
5. Enter the following collections.
Date Description
Mar. 10, 20XX Kris Aquino settled her account in full. (Cash Collection)
Mar. 10, 20XX Phil Younghusband settled partially, P5,000 through cash.
a. Go to Banking >Incoming Payments >Incoming Payments

Your Incoming Payment document number is 3.
Default is Customer.
b. Enter customer that shall become your credit.

Choose Kris Aquino in the code field by clicking the selection list in the field.
Change posting date to Mar 10.
The system assigns the due date.
46
c. Choose the document for settlement.
In the first line of the table, under the column GL Account, check box under the Selected
column.
Theres no discount since Kris Aquino pays after the 10 cash discount days
Press tab. Balance due is now net of early payment discount.
Do not click Add yet!
d. Enter cash payment as your debit.

Click the money bag icon which is the payment means in the toolbar. A new window Payment

Means will appear.
Click the Cash tab.
In the Total field, type 16,764 or right-click the field and choose Copy Balance Due.
Click OK. The Payment Means screen will exit.
Click Add in the Incoming Payments window.
Continue?
Click Add.
d. Retrieve the journal entry made in Incoming Payment document number 3. 47

Still in Incoming Payment window, click the last data icon in the toolbar.
You are led to document 3.
To view the journal entry made, click the golden arrow after Transaction No.
You will be led to the next screen.
Click OK or Cancel to exit from the current screen.

To add a new payment, click the Add button in the toolbar .
e. For the collection from customer Phil Younghusband:
You must still be at Incoming Payments window. Make sure that you are in the Add mode as
evidenced by the Add button found at the lower left-corner of the screen. If not, click the Add
icon in the toolbar.
Choose CU700000 Phil Younghusband in the Code field
Set dates to Mar 10, 20XX
Check the box under the Selected document. The line is then highlighted
In the column Total Payment of the first highlighted line, type 5000.
Press tab. Make sure that under the Total Payment, the amount is still 5000.
Click the money bag or Payment Means icon. The Payment Means window will appear
Click the Cash tab.
48 Click Add in the Incoming Payments window.
Continue?
Click Add.
49
Exercise 10.2
3. Navigate to the section of the system where receipts are to be posted.
Banking > Incoming Payments > Incoming Payments
4. Enter the following collections.
Date Description
Mar. 26, 20XX Mr. Dwayne Wade settled her account in full.
Mar. 27, 20XX Phil Younghusband settled partially, P5,000 through check.
SOLUTION:
1. For the collection from customer Dwayne Wade:

Choose Dwayne Wade in the Code field
In the first line of the table, under the column GL Account, check box under the Selected
column.
Theres no discount since he pays after the 10 cash discount days
Click the Cash tab.
Continue?
Click Add.
2. For the collection from customer Phil Younghusband:

50 Choose CU700000 Phil Younghusband in the Code field
Check the box under the Selected document. The line is then highlighted
In the column Total Payment of the first highlighted line, type 5000.
Press tab. Make sure that under the Total Payment, the amount is still 5000.
Click the Check tab.
In the Amount field, type 5,000 or right-click the field and choose Copy Balance Due.
Continue?
Click Add.
51

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ACCOUNTING using SAP

1. Log in to SAP Business One

From your desktop, click SAP Business One.

In the Login Window choose Change Company.

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

Go to Financials > Journal Entry

6. How to add a debit account and debit amount?

Go to Financials > Journal Entry (Document Number is 1)

A111000 Cash on Hand 100,000

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A210000 Land 1,000,000

A221000 Machinery 10,000

To add the first transaction of journal voucher #1:

f. Type 1,000,000 in the Debit column.

To add the second transaction of journal voucher #1:

10. Submit the journal entry vouchers to your instructor.

1. Log in to SAP Business One

O900000 Transportation Expense 1,000

O1300000 Taxes and Licenses 4,000

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

To add the first transaction of journal voucher #2:

To add the second transaction of journal voucher #2:

A112100 CIB-MBTC 20,000

To add the first transaction of journal voucher #2:

5. Submit the following:

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

Outgoing Payments in SAP Business One

1. Log in to SAP Business One

From your desktop, click SAP Business One.

In the Login Window choose Change Company.

Company Name ABC Enterprises

Go to Banking > Outgoing Payments > Outgoing Payments

Vendor is the default payer.

5. Enter the following payments. Disregard VAT.

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Jan. 7, 20XX Paid P15,000 in cash for 3 months rent.

Jan. 10, 20XX Paid P3,000 in cash for additional supplies.

a. Go to Banking > Outgoing Payments > Outgoing Payments

b. Enter expense account as your debit.

d. Retrieve the journal entry made in Outgoing Payment document number 1.

1. Log in to SAP Business One

3. Navigate to the section of the system where payments are to be posted.

Banking > Outgoing Payments > Outgoing Payments

Vendor; Yes; Customer and Account

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Jan. 20, 20XX Pay dates for the employees are

Jan. 22, 20XX Paid P1,000 in cash for additional supplies.

7. Submit your Transaction Journal Report to your instructor.

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

Procurement under SAP Business One

Automating Procurement Processes

SAP Business One offers best-practicefunctionality to support your core

1. Log in to SAP Business One

From your desktop, click SAP Business One.

Go to Purchasing-AP > AP Invoice

5. Is the due date to be manually inputted?

6. What are the options in the Item / Service Type?

a. Items This is chosen if the sales is merchandise.

Feb. 6, 20XX Bought computer peripherals at CAT Equipment for the

Feb. 7, 20XX Bought machinery to be used in servicing clients automobiles at

AP Invoice document 1 will appear

Click the vendor field. Click the selection list.

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