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Tasks to be completed when documenting an operation (from creation to publication)1. Enter the Title of the operation / page2. Add the following Labels :
3. Fill in all fields as described above4. Name the title of each section using OPD methodology naming convention - Infinitive verb without the “to”, mainly action verb...something) - " I do something..."5. Once the description of the operation is completed, ensure it is approved and published by launching the SBS-Finance approval workflow |
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| Domain: Financial Accounting |
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Responsibility area: Ensure consistency of F101 for TR and TP |
Table of contents
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ScopeERPFrequencyReferencesF101 FormsAttachments
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1. Objective and Scope
1.1. Objective of this Operation
There was an initiative to align between PF1 and WP1 concerning the denetted positions calculation for trade payables and trade receivables.
In PF1 and WP1, we already have this automated posting which impacts receivables/payables reporting, meaning that there isn't truly a reclassification between balance sheet headings, only a transfer to a dedicated GL account in order to segregate the counternature balances.
1.2. Scope
The scope of this operations is all Solvay companies operating in PF1 and WP1 systems (being assessed in PI1).
2. Definitions
See Finance Glossary:
- ...
3. Tasks description
There was an initiative to align between PF1 and WP1 concerning the denetted positions calculation for trade payables and trade receivables.
In PF1 and WP1, we already have this automated posting which impacts receivables/payables reporting, meaning that there isn't truly a reclassification between balance sheet headings. Only a segregation of the counternature balances in the same heading.
On going is the analysis regarding the trading partners for open items that have been assigned to Factoring (CAMs companies).
PI1 is being customized, following the same structure as PF1 (profit Center D8590 and Business Area 8590). On going is the analysis regarding the trading partners for open items that have been assigned to Factoring (CAMs companies).
3.1. I assess the Trade Payable and Trade Receivables Adjustment accounts
Accounts created exclusively for the process and should not be used for other purposes:
Eg.:
2200000098 Trade receivables-transfer (adjustment account)
2350000000 Trade rec,credit balances (target account)
2300000098 Trade payables-transfer (adjustment account)
2250000000 Creditors w/debit balances (target account)
Customer credit balances
Customer Credit Balances | Supplier Debit Balances | |||
Accounts in PF1 | Accounts in WP1 | Accounts in PF1 | Accounts in WP1 | |
Adjustment account | 2200000098 (A41100) | 41100185 (A41100) | 2300000098 (L40100) | 40100185 (L40100) |
Target account | 2350000000 (A41100) | 40100180 (A41100) | 2250000000 (L40100) | 41100180 (L40100) |
To assess if the needed GL accounts are created for the company being handled, you should go to FSS0.
Other trade receivables and trade payables accounts are already mapped.
Customer Credit Balances | Supplier Debit Balances | |||
Accounts in PF1 | Accounts in WP1 | Accounts in PF1 | Accounts in WP1 | |
Adjustment account | 2200000198 (A41100) | - | 2300000198 (L40100) 2303000098 (L40100) | - |
Target account | 2350000010 (A41100) | - | 2250000000 (L40100) | - |
PF1 mapping (to review - target account will change sides A* to L* and vice versa).
WP1 mapping
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End of document.
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