2 Replies Latest reply on Oct 21, 2014 5:48 PM by Dustin Mitchell

    accruing Accounts Payable items at month-end

    Lily Yee
    Visibility: Open to anyone

      I'm looking for an easier way to accrue for parked invoices and invoices requiring either a goods receipt or invoice receipt.  From an accounting perspective, these items need to be accounted for in the GL but since they are "parked" they do not show up on the GL.

       

      I'm currently running a customized version of t-code s_alr_87012332 to download this information and from there, processing a journal based on the downloaded information.  I have to run this t-code a few times during month end in order to get the most up to date data.  I'm thinking there must be an easier way to account for these invoices in "limbo".

       

      Any insight is appreciated.

       

      Lily

        • 1. Re: accruing Accounts Payable items at month-end
          Dawn Solomon

          Lily,

           

          Are you using a GR/IR account to record your goods receipts and vendor invoices?  If so when the receipt comes in it should post to inventory and credit the GR/IR liability account.  Once the invoice is received, we credit the vendor and debit GR/IR to move the liability to the vendor vs. the goods receipt and any purchase price variance is created based on standard cost at time of receipt and any invoice price variance is calculated at time of invoice posting.  Once the invoice is paid the liability is relieved it is a debit to the vendor and a credit to cash clearing depending on how you set it up.

           

          Does this help?

           

          Dawn Solomon

          • 2. Re: accruing Accounts Payable items at month-end
            Dustin Mitchell

            We use the table VBSEGS (viewed through t-code SE16N) which shows the details of parked documents in a nice tabular format.  You can see the amount, account code, cost center, profit center, etc.  You can download the table into Excel for easy copy and paste into a journal entry.  Hopefully that helps.