Accruals/Deferrals: Entering Rent Expense 

Use

You post the rent expense for a warehouse. The rent is due on the first of March, June, September, and December for the current and the two following months respectively.

In the example, the current date is the first of December. The rent thus has to be posted for December of the current fiscal year as well as for January and February of the following fiscal year.

Procedure

  1. Call up the transaction as follows:
    2.

    Menu Path

    Accounting ® Financial Accounting ® Accounts Payable ® Document Entry ® Invoice

    Transaction

    FB60

    Make sure that the correct company code is specified.

    If the system displays the Enter company code dialog box, enter the following data:

    Field

    Data

    Company code

    1000

    Otherwise, choose Environment ® Set company code and confirm the dialog box Exit processing with Yes.

    Choose .

  2. If the worklists are not displayed, choose Tree on.
  3. On the Basic Data tab page, enter the following data:
    4.

    Field

    Data

    Vendor

    1570

    Invoice date

    12/01 of the current fiscal year

    Posting date

    12/01 of the current fiscal year

    Amount

    4,500.00 (gross amount, including tax on sales/purchases)

    Currency/rate (defaulted)

    EUR

    Calculate tax

    Select

    Tax code

    V0

    Text

    Rent for warehouse in Frankfurt / Dec. to Feb.

    Confirm any warnings with .

  4. Choose Screen variants for items ® With cost center.
  5. In the table, enter the following data:
    6.

    Field

    Data

    G/L account

    470000

    D/C (defaulted)

    Debit

    Amount

    4,500.00

    Tax code

    V0

    Cost center

    4220

  6. Choose Simulate.

    7. The system tells you that the document date is in the future.

  7. Choose .

    8. On the Enter vendor invoice screen, the document you have just entered is displayed. The journal entry appears as follows:

    · Debit: Account 470000 (Occupancy costs) EUR 4,500.00

    · Credit: Account 1570 Lenzmann Immobilien (accounts payable)
    EUR 4,500.00

    Account 470000 requires an assignment to a CO object, since it is defined as a cost element. Therefore you require an additional account assignment, for example cost center 4220.

  8. Choose .
  9. Make a note of the document number.
  10. Choose .
  11. In the Exit Editing dialog box, choose Yes.