park vendor credit memo - university of cincinnati · web viewpurpose use this procedure to park a...

Work InstructionFunctional Area: Accounts Payable Park Vendor Credit Memo

Purpose

Use this procedure to park a credit memo document in UC Flex.

Trigger

Perform this procedure when the responsible Department or the vendor identifies the need to correct an account and contacts the AP Department so that a credit memorandum (credit memo) can be created in SAP; however the credit must be suspended (parked) due to incorrect or missing information.

Prerequisites

None

Menu Path

Use the following menu path to begin this transaction:

Select Accounting Financial Accounting Accounts Payable Document entry Document Parking Park/edit credit memo to go to the Park Vendor Credit Memo: Company Code UC screen.

Transaction Code

FV65

Helpful Hints

The R/O/C column in the field description tables below defines whether the field is required (R), optional (O), or conditional (C).

On certain screens you may have to scroll to view some data entry fields.

Complete the following the first time you use the FV65 transaction for Accounts Receivable:

o Click on the FV64 transaction screen. The following are

recommended settings. Select to the left of them.

o Select “Documents only in local currency”

o Select “No special GL transactions”

o Select “Documents Not Cross-Company Code” so you don’t have to data enter the “UC” company code on each transaction

o Select “No partner business area in head. screen”

o Select “Display Periods”


o “Local Currency” is already defaulted. Leave it this way.

o In the Doc.type option field, use the option pull-down menu and select “Document type ready for input.”

o Select “Document Date Equals Posting Date” so SAP will fill in both dates, normally with today’s date. You can always adjust it if necessary.

o Click to save your user profile, then click .

Enter /nfv65 in the Command field, then click Enter to refresh the screen and bring in the editing options

Click to view documents that you put on Hold or Parked.

Click to update your document type editing options. Change to Document Type ready for Input if your data entry screen does not allow a manual change to the document type.

Click to review the open invoices or credits on the vendor’s account.

Click to review vendor master data.


Procedure

1. Start the transaction using the menu path or transaction code.

Park Vendor Credit Memo: Company Code UC

2. As required, complete/review the following fields:

Field R/O/C Description

Vendor Required Unique number that identifies a vendor

Example:500001

You cannot use One Time Vendors in this transaction.

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04_AP_FV65_Park Vend Cred Memo_0_DirInvEnt_01.udc© University of Cincinnati 3/18



Document date Required The date the document is created

Example:10/12/2004

Reference Optional Allows for further clarification of an entry by reference to other sources of information, either internal or external to SAP; Any SAP-posted document number can be used as a "reference" when entering a new document

Example:Credit01

This is typically the ID number on the document that the vendor sends notifying you of the credit.

Document type Required Key that identifies to which group of documents this document will be assigned; Documents of the same type contain common information which is relevant to posting and updating of the value fields in the database

Example:Vendor credit memo

Amount Required Indicates the value of the line item of an accounting document

Example:10.00

3.Click the tab.

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Park Vendor Credit Memo: Company Code UC (Details tab)



Header txt Required Description of the header, designed to identify the header

Example:AP00555666

Enter the bar scan number on the document imaging jacket attached to the document. For those credits that do not require imaging, ‘N/A’ should be entered.

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Bus. Area Required An organizational unit of financial accounting that represents a separate area of operations or responsibilities within an organization; Financial statements and various internal reporting can be created by business areas

Example:0001

This is derived for revenue and expense but not for balance sheet accounts; manual input is required for balance sheet accounts.

5.Click the tab.

Park Vendor Credit Memo: Company Code UC (Payment tab)

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Pmnt terms Required Defines cash discount percentages and payment periods

Example:0001

Derived by the Vendor Master but can be overridden based on circumstances.

Pmt Method Optional Code identifying the method by which the customer will pay for the order, using the automatic payment transactions

Example:C

Credits are cleared (reduce) against the next outgoing payment and therefore take the payment method of the next payment. Leave this field blank.

Pmnt block Optional Manual block key used to block an account for all outgoing payment transactions

Example:Free for payment

Defaults to Free for Payment. In order to block this particular credit from being considered in the next payment run, select another payment block reason from the drop-down menu.

Inv.ref. Optional Used to cross reference documents when one document relates to another

Example:200000000

Credits for One-Time Vendors must reference a specific invoice document number.

7. Perform one of the following:

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If Then Go To

The vendor master record is defined with a 1099 tax code Click the tab.

This tab will only be available if the vendor master record is defined with 1099 tax code information.

Step 8

The vendor master record is not defined with a 1099 tax code

-- Step 9

Park Vendor Credit Memo: Company Code UC (Withholding tax tab)


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W. Tax Code Required Withholding tax code; Code used to determine the point at which the tax is posted, method of calculating the tax base amount, and accumulation

Example:07

The data in this field is derived from the vendor master but can be overridden based on need.

9. Perform one of the following:If You Want To Then Go To

Enter notes

Click the tabs.

Information on this tab is used when it is necessary to enter any notes relevant to the transaction. For example, if the credit memo request was verbally directed to the AP Department, the caller’s name and contact information would be documented in this field.

Step 10

Enter the line item information -- Step 11

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Park Vendor Credit Memo: Company Code UC (Notes tab)

10. Enter notes in the Item long text box.

11.Click the tab.

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Park Vendor Credit Memo: Company Code UC (Basic data tab)



G/L acct Required Code identifying the account in the general ledger where this item will post; from a collection of balance sheet and profit and loss statement accounts; includes Assets (1), Liabilities (2), Fund Balance Accounts (3), Revenue Sources (4), Expense Accounts (5), GAAP Only Accounts (7), Transfer Accounts (8), and CO Secondary Postings (9)

Example:530201

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D/C Required Debit/Credit

Example:Credit

Defaults to a C (credit).

Amount in doc.curr. Required Line item amount in document currency

Example:10.00

Fund Required The fund identifies the sponsor and with the application of funds, allows for inception to date reporting and overall budgeting

Example:D187565

Cost center Conditional An area of responsibility for capturing costs

Example:5142200000

This will only be used for expense accounts or with a Grant.

Functional area Required Used to structure a public organization or enterprise according to functional criteria; The functional area is required in Funds Management in order to fulfill legal reporting requirements subdividing an organization into functions; Equivalent to function as defined by NACUBO

Example:1

This field is validated by the system based on the accounting string.

Grant Optional An award to the university as additional resources to support instruction, research, or public service; A type of financial assistance awarded to an organization for the conduct of research or other program as specified in an approved proposal

Example:1000000

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Order Optional Sales, production, process, purchase, internal, or work order number that uniquely identifies an object

Example:400000

WBS element Conditional Work Breakdown Structure Element

Example:DF04AA

This is only required for a PS related billing but conditional with a Grant billing.

Text Optional Description field providing additional information for an entry

Example:

Enter any relevant notes related to the transaction.

Assignment Conditional Assignment number; SAP displays account line items according to the content of this field

Example:1099 Tax Code-07

For those vendors that are defined with 1099 Tax code information on their vendor master records, this field (on each general ledger line item) will automatically be populated with their 1099 tax code description (see example below). If the line item expense is not 1099 relevant, remove the 1099 tax code description completely.

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Business area Conditional An organizational unit of financial accounting that represents a separate area of operations or responsibilities within an organization; Financial statements and various internal reporting can be created by business areas

Example:0001

This is derived for revenue and expense but not for balance sheet accounts; manual input is only required for balance sheet accounts.

Long txt Optional A text field providing supplemental space for text entries

Example:

Enter any relevant notes related to the transaction line item.

13. Perform one of the following:If You Want To Then Go ToReview the accounting entries prior to posting the document Click . Step 14

Delete the parked document Select Document Delete Parked Document. Step 18

Park the document in SAP

Click .

The system displays the message, “Document XXXX UC was parked.”

Documents that are parked are visible to all users without updating Accounting.

Step 19

Post the document

Click .

The system displays the message, “Document XXXX was posted in company code UC.”

Step 19

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Document Overview

14. Review the displayed information.

If the A114 invoice involves payment for asset related purchases, the asset number (created in Asset Accounting master data) must be referenced on the AP invoice. For each general ledger line item listed on the invoice, double-click on the general ledger account number.

Click to add the required asset number to the transactions.

15.Click .

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Information

16.Click .

17. Return to Step 13.

Delete Parked Document

18. Click .

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SAP

19.Click until you return to the SAP Easy Access screen.

The system displays the message, “Parked document XXXX UC XXXX deleted.”

20. You have completed this transaction.

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Result

You have created and parked a credit memo.

Comments

None

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