SAP Lessons 1-5

ACCOUNTING using
SAP Business One
QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One
Chapter
Six:
JOURNALIZ
ING
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
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 deleted
only 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
fnance charge to a customer account or a service fee to a bank account.
12
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.
Exercise 6.1
3. Navigate to the section of the system where manual journal entries are to be
posted.
Go to Financials > Journal Entry
13
14
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
C100000
Cash on Hand
Aquino, Capital
100,000
100,0
00
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?
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
C100000
Land
Aquino, Capital
1,000,000
A221000
A111000
Machinery
Cash on Hand
10,000
1,000,0
00
10,000
8. How to use journal

vouchers?
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 doubleclick 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 doubleclick 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.
15
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
A111000
O1300000
A111000
Transportation
Expense
Cash on Hand
Taxes and Licenses
Cash on Hand
1,00
0
4,00
0
1,00
0
4,00
0
SOLUTION:
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
Transportation Expense. Alternatively, you may type O900000
in the Find field. f. Type 1,000 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 doubleclick Cash on
the Find field. 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.
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 doubleclick Cash on
the Find field. 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
A112200
A111000
CIB-MBTC
CIB-BDO
Cash on Hand
20,00
0
20,00
0
40,00
0
SOLUTION:
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 Cash in
Bank - MBTC. Alternatively, you may type A112100 in
the Find field. f. Type 20,000 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 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
the Find field. 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
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 fll 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.
Chapter
Seven:
19
Exercise 7.1
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
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
20
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
cash.
4. What is the default payer in this document? Is it possible to

change it? What are the other options?
Licenses and registration fees to the city treasurer, P4,000

Ofce 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.
21
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.
22
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.
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)
nd
e. For Jan. 5 (2 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
2
4

3. Navigate to the section of the system where payments are to be posted.
Banking > Outgoing Payments > Outgoing Payments
Vendor; Yes; Customer and Account
5. Enter the following cash payments.
Date
Description
Jan. 20, 20XX
Pay dates for the employees are

th
st
1. 20 of the current month for the 1 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.
Exercise 7.2
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
2
6
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
Business One
under
SAP
The fow 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
efective 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
Processes
Procurement
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.
Chapter
Eight:
27
Exercise
8.1
1. Log in to
Business One
SAP
From your desktop,

Business One.
click
SAP
2. Choose company name and enter your User Code and

Password. Click OK.
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
manually inputted?
to
be
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 fve years
with a salvage value of P10,000.
Feb. 6, 20XX
Feb. 7, 20XX
automobiles at
28
Bought computer peripherals at CAT

Equipment for the machines bought the
previous day, P30,000.
Bought machinery to be used in servicing clients
Global Equipment, P300,000. Expected life is ten years
with P30,000
salvage value. Term of credit is 10-20-30.
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 ofice
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.
a. Go to Purchasing-AP > AP Invoice
29
30
d. View the journal entry made in AP

Invoice document 1.
AP Invoice must still be open.
st
Click the 1 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.
In the Item/Service Type field, change Item to Service by clicking the
dropdown list.
Press tab. Document total is now at P33,528.00 since VAT is added.
document after you have
added it. Continue?
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.
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.
The system has just posted AP Invoice document 3
.
6. What are the balances for Machinery and
Office Equipment?
31
7. Support the total amount of

outstanding liability of each vendor.
Accounts
Payable
through
the
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
st
posting dates range from the 1 day to the last day of the month. Click
OK.
9. Submit your Transaction Journal Report to
your instructor.
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
Feb 10, 20XX
Feb. 15, 20XX

P100,000.
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%.
Bought additional machinery at Global Equipment,
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
h. The system has just posted AP Invoice document 4.
3.
Add the Feb 15

purchase.
i.
j.
Choose Global Equipment.
k. Type 15.02 ( Feb 15, 20XX) in the Posting Date field.
l.
dropdown list.
m. 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 100,000.
n. Click Add or press Enter.
o. Click Yes when System Message prompts: You cannot change this
p. The system has just posted AP Invoice document 4.
5. Give the balances for

a. Machinery - 400,000
b. Ofce 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 afects 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 specifc 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
1. Log in to
Business One
SAP
From your desktop,

Business One.
click
SAP

Password. Click OK.
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
manually inputted?
to
be
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
Feb 25, 20XX
charges is
Description
Serviced the BMW car of Ms. Kris Aquino. Total
Exercise
9.1
P15,000.00. Credit Term is 2/10, n/30.

Feb 27, 20XX
Total charges is
Serviced the Ferrari car of Mr. Dwayne Wade.

16,000. Credit Term is n/30.
Feb 28, 20XX
Walk-in clients servicing totaled P10,000 in cash.
a. Go to Sales-AR > AR Invoice
37
AP Invoice document 1 will appear
38
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.

dropdown list.
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.
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.
Click Cancel to exit from the current window.
d. View the journal entry made in AR

Invoice document 1.
AR Invoice must still be open.
st
Click the 1 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 28 cash sales.

Go to Sales-AR > AR Invoice + Payment
The Customer is already defaulted to One-Time Customers.
39
In the first line of the table under the column G/L Account, choose Service Income.
In the
column Total (LC) of the same line,
type 10,000.
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.
Click Cancel to exit.
6. What are the balances for Service Income, Output Tax and Accounts
Receivable?
40
on
Go to Financials > Chart of Accounts > Click Service Income > Balance field
the right side
Repeat the same procedures for Output Tax and Accounts Receivable
The balances are: 41,000; 4,884; 34,684, respectively.
amount
of
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
st
Set posting date range from the 1 day of the year to the last day of the year
Click OK. Click OK to exit.
7. Support the total

Accounts Receivable.
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
st
posting dates range from the 1 day to the last day of the month. Click
OK.
9. Submit your Transaction Journal Report to
your instructor.
41
Exercise 9.2
OK.
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
Mar. 2, 20XX
Mar. 6, 20XX
Total charges is
Description
Serviced the Toyota Altis car of Mr. Phil
Younghusband. Total charges P11,000.00. Credit
Term is 10-20-30.
Serviced the Jaguar car of Ms. Kim Kardashian.
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
ofce equipment. In
the column Total (LC) of the same line, type 11,000.
o Click Add or press Enter.
o Click Yes when System Message prompts: You cannot change this
o The system has just posted AP Invoice document 4.
o Click Cancel to exit from the current window.
2.

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 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
ofce equipment. In
42
the column Total (LC) of the

same line, type 14,000.
o
o
3.
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 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 Service
Income. In
the column Total (LC) of the same line, type 20,000.
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 Yes when System Message prompts: You cannot change this document
after you
have added it. Continue?
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
st
Set posting date range from the 1 day of the year to the last day of the year
Click OK. Click OK to exit.
43
44
Chapter
10:
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
Business One
SAP
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
Accounting
Kraze
International Inc.
of
SPECIAL JOURNAL RECEIPTS
45
Exercise
10.1
1. Log in to
Business One
SAP
From your desktop,

Business One.
click
SAP

Password. Click OK.
3. Navigate to the section of the system where
receipts are to be posted.
Go to Banking > Incoming Payments
Incoming Payments
>

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
Mar. 10, 20XX
Description
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
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.
A system message will appear: You cannot change this document after you have
added it
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.
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!
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:
48
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 leftcorner 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.
In the Total field, type 5,000 or right-click the field and choose Copy Balance
Due.
Click Add in the Incoming
Payments window.
you have added it
Continue?
Click Add.
49
50
Exercise 10.2
OK.
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

full.
Mr. Dwayne Wade settled her account in
Mar. 27, 20XX

P5,000 through check.
Phil Younghusband settled partially,
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 money bag or Payment Means icon. The Payment Means window
will appear
Click the Cash tab.
In the Total field, type 17,920 or right-click the field and choose Copy
Balance Due.
you have added it
Continue?
Click Add.
2.
For the collection from customer Phil Younghusband:
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 money bag or Payment Means icon. The Payment Means window will appear
Click the Check tab.
In the Amount field, type 5,000 or right-click the field and choose Copy Balance Due.
A system message will appear: You cannot change this document after you have
added it
Continue?
Click Add.
51

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ACCOUNTING using

SAP Business One

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

A Journal is a book in which transaction are recorded in the order in which

1. Log in to SAP Business One

In the Login Window choose Change Company.

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

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

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

8. How to use journal

To add the first transaction of journal voucher #1:

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

To add the second transaction of journal voucher #1:

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

To add the second transaction of journal voucher #2:

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

SPECIAL JOURNAL DISBURSEMENTS

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

In the Login Window choose Change Company.

3. Navigate to the section of the system where receipts or collections are

Vendor is the default

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

4. What is the default payer in this document? Is it possible to

Licenses and registration fees to the city treasurer, P4,000

Paid P15,000 in cash for 3

months rent. Jan. 10, 20XX

cash for additional supplies.

b. Enter expense account as

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

c. Enter cash payment as

d. Retrieve the journal entry made in Outgoing Payment document

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

Click OK or Cancel to exit from the current screen. The clicking of

e. For Jan. 5 (2 transaction), 7 and 10. Repeat steps A to C with

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

1. Log in to SAP Business One

Jan. 20, 20XX

Pay dates for the employees are

their salaries. Jan. 21, 20XX

Paid P10,000 in cash for

mobile phone prepaid load.

Paid P1,000 in cash for additional supplies.

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

SPECIAL JOURNAL PURCHASES

The fow of information between purchasing, sales, and accounting is much

SAP Business One offers best-practicefunctionality to support your core

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

From your desktop,

2. Choose company name and enter your User Code and

Bought computer peripherals at CAT

AP Invoice document 1 will appear

Click the vendor field. Click the selection list.

c. Enter the appropriate account for the debit.

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One

a. Go to Purchasing-AP > AP Invoice

QUICK GUIDE TO FUNDAMENTALS OF ACCOUNTING using SAP Business One