Debit and Credit Entries

[Former Member]

Hello All,

I have the following accounting entries which is wrong.

The income entry should be credited and receivable should be debited.How to credit the income entries.

Can someone please help me.

[Lakshmipathi]

First of all, have you checked with your FI team before posting this?  If not, better discuss with them and solve the issue.  The configuration for this comes under FI part

G. Lakshmipathi

[Former Member]

Hello All,

The scenario is an export process where the DEPB Income should be credited and the DEPB receivable should be debited but the accounting entry is just the opposite.The DEPB Income is 3% of FOB value and DEPB Receivable is 100% of DEPB Income.

Yes I have checked with FI and all settings are correct.

Incidentally we are working with EHP-7.0.

Any further inputs will be highly appreciated.

[Lakshmipathi]

Are you capturing these (DEPB) values in billing document?  If so, share the screen shot of your pricing procedure and billing document condition tab

G. Lakshmipathi

[Former Member]

Hello Sir,

PFA the screenshot.

[Lakshmipathi]

For those zee condition types, you have assigned some zee Account Key.  As I already said, making a debit entry or credit entry will be under FI and your FI team has to change the existing configuration.

The Account Key whatever you assign in pricing procedure is inter linked with G/L and Posting Key.  This Posting Key is having two fields for Debit and Credit.  So check with your FI team

G. Lakshmipathi

[subhadeep_das]

Hi,

what is the exact scenario and how have you derived these accounting entries ?

best regds

Subha

[Former Member]

Can someone please help me on this.

[Former Member]

Hello,

Can someone please provide some helpful inputs,