vendor employee

[Former Member]

hi,

in want create a Vendor in my vendor master records so that when ever a loan given to employee is recoded to vendor account.

could u ple give me the accounting entries

1-when the loan is given to employee

2-loan reimbursement by the employee

there is a reconciliation account attached to the vendor:

also i want to know how to enter the loan given to the vendor in the sap system?

please reply soon.urgent

[Former Member]

HI,

1. Loan given to employee

Employee Vendor - Dr

Bank A/c

2. Loan reimbursed

Bank A/c

Employee Vendor A/c

Note: This vendor account shows always debit balance.

In the balance sheet, you can show Employee Vendor account on the Assets side under Loans & Advances.

[Former Member]

hi,

thanks for the reply,

i also want to know in sap how do u enter the loan given to employee, is it as a down payment????

[Former Member]

Generally when an expenditure is incurred by the employee like travelling etc it is credited to employee account and when the payment is effected it is debited to the employee account

Whenever is advance it given it can flow through down payment request and down payment so that it hit the spl GL account.When the advance is deducted or adjusted down payment is also adjusted accordingly.

[Former Member]

as u say when a loan is given DR vendor and CR bank ok?

problem 1 :

how do we create this transaction in this system???? is it through FB60?

problem 2:

the payments/receivables should go through a clearing A/C, then what would be the double entry?

thanks

[Former Member]

> as u say when a loan is given DR vendor and CR bank

> ok?

>

> problem 1 :

>

> how do we create this transaction in this system????

> is it through FB60?

<b>Expenses booking- YES- DR Expenses

Cr Vendor (Emp) And also toe recon a/c</b>> problem 2:

>

> the payments/receivables should go through a clearing

> A/C, then what would be the double entry?

> When the payment is made

<b>Dr Vendor

Cr Bank</b>

> thanks

[Former Member]

I want to know whether i can use the transaction code FB60 to enter the loan given to employee.

thanks

[Former Member]

Hi,

Loan payment:

F-47 down payment request

F-48 down payment or F110 print check

Open item on the debit side appears of Vendor

Loan repaid by employee i.e., received by company

Option 1

Receive through F-51, clearing the above open item you can receive the payment

Option 2

Receive through F-52. In this case both ope items appear on both sides of the Vendor account. You do F-44 subsequently.

Assign points if helpful.

[Former Member]

Hi,

Loan payment:

F-47 down payment request

F-48 down payment or F110 print check

Open item on the debit side appears of Vendor

Loan repaid by employee i.e., received by company

Option 1

Receive through F-51, clearing the above open item you can receive the payment

Option 2

Receive through F-52. In this case both ope items appear on both sides of the Vendor account. You do F-44 subsequently.

Assign points if helpful.

[Former Member]

Hi,

Loan payment:

F-47 down payment request

F-48 down payment or F110 print check

Open item on the debit side appears of Vendor

Loan repaid by employee i.e., received by company

Option 1

Receive through F-51, clearing the above open item you can receive the payment

Option 2

Receive through F-52. In this case both ope items appear on both sides of the Vendor account. You do F-44 subsequently.

Assign points if helpful.

[Former Member]

Hi,

Loan payment:

F-47 down payment request

F-48 down payment or F110 print check

Open item on the debit side appears of Vendor

Loan repaid by employee i.e., received by company

Option 1

Receive through F-51, clearing the above open item you can receive the payment

Option 2

Receive through F-52. In this case both ope items appear on both sides of the Vendor account. You do F-44 subsequently.

Assign points if helpful.

[Former Member]

Sorry for the repeated posts

Some problem with my browser.

[Former Member]

hi,

thanks a lot for the information. i have a one question,when the loan repayment, suppose the employee pays only half, can we still run the F-51? how to enter the paid amount?

thank

gayani