SAP FI: Typical Steps Involved in Performing Incoming Payments

This posts gives brief description of the steps to be performed for the incoming payments in the SAP Finance module.

Business Example:

This process covers payments received from Customers from Sale of Flats/Space and Others from Sale of Miscellaneous items like Scrap, Periodicals and Asset through DD or Local Cheques, Wire Transfer. Incoming payments are also received from vendor against the Security deposit, Earnest money Deposit and TDS deductions effected/made by Customers.

Payments received from Customers to be booked to ‘Bank Incoming A/c’ in the SAP system by the concerned department for sale. The posting shall be through a Special G/L account (flagged through Special G/L Indicator). Such collections (open items) are then selected by Accounts department to pass necessary transfer postings to proper Accounting G/Ls.

In SAP, the process is managed as with following transaction codes:

Transaction Code
Advance Payments against Sales Order
Incoming Payments from Customer against sale
Incoming Payment from Vendor against security deposit and EMD

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