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Accounting Manual Payables 6a7031fd52a9f972451e8f97b966a7fb pdfPage 1 of 4312 12 19 Table of Contents 1ACCOUNTING POLICY 2 2FORMS 3 3GUIDELINES 4 3 1VENDOR MASTER RECORDS 4 3 1 1Vendor master overview 4 3 1 2Vendor master maintenance 10 3 2GOODS RECEIPT 14 3 2 1Purchase orders PO and materials master records 14 3 2 2Goods receipt GR 15 3 3DOWN PAYMENT TO VENDORS 16 3 3 1Down payment request 17 3 3 2Down payments 18 3 4INVOICE RECEIPT IR 21 3 4 1Invoice verification 21 3 4 2Invoice posting 26 3 4 3Land costs 29 3 5INVOICE BLOCKING 31 3 5 1Block setting 31 3 5 2Block releasing 33 3 6CREDIT MEMOS 33 3 7OUTGOING PAYMENT 34 3 7 1Final payment 34 3 7 2Partial payment 34 3 8CLEARING 34 3 8 1Open item management 34 3 8 2Clearing procedure 34 3 9INTRA COMPANY CLEARING 36 3 10ACCOUNT BALANCES 37 3 11OUTSTANDING INVOICE 37 3 12DOCUMENTS MANAGEMENT 38 3 12 1Contract management 38 3 12 2Vouchers and other documents 38 3 12 3Documents management supporting transactions 38 3 13CLOSING 39 3 13 1Closing overview 39 3 13 2Regrouping AP vs AR 40 3 13 3Account reconciliation 40 3 13 4Account reconciliation to third party vendors 40 3 13 5Inter company reconciliation 41 3 13 6Foreign currency valuation 41 3 13 7Carry forward vendor account balances 42 3 14INFORMATION SYSTEM 42 Accounting Services AS Accounting Manual Payables Page 2 of 43 1ACCOUNTING POLICY It is SLC s accounting policy to ensure that procurement of materials and services is processed in accordance with the Signature Mandate ensure consistency between purchase order goods received and invoice received in terms of quantity and price ensure that no non trading transactions are contained in Account Payable and no trading transactions are contained in Other Payable perform inter company account reconciliation in accordance with the monthly schedule and clarify discrepancies in time accomplish real time reconciliation with ICC participating vendors investigate long standing open items prevent duplicate excessive payment and reclassify credit balances in receivable accounts to payable accounts and credit balances in receivable accounts to payable accounts at period end Accounting Services AS Accounting Manual Payables Page 3 of 43 2FORMS Standardized forms need to be used for Accounting requests such as Master Data Maintenance Requests Expense Vouchers Down Payment Requests Forms referred to in this document can be found via the following link Accounting Services AS Accounting Manual Payables Page 4 of 43 3GUIDELINES 3 1VENDOR MASTER RECORDS 3 1 1Vendor master overview 3 1 1 1 General description Vendor master records contain data that controls how transaction data is posted and processed This includes all the information about a vendor that is needed to be able to conduct business with them The vendor number is assigned at the client level This ensures that the number for a vendor is the same for all company codes and purchasing organizations under the same client Vendor specific information such as name and address is stored at the client level Any company code defined in the client will have access to the vendor general data information Master data that is needed by a company to define how that particular company code will process transactions with the vendor is stored in company specific records Data used for the processing of financial transactions is stored in the accounting segment of the master record while data relevant to Materials Management MM functionality is stored in the purchasing portion Accounting data is specific to a company code Purchasing data is specific to a purchasing organisation 2 1 1 2 Vendor account groups Used to distinguish different categories of vendors account groups determine the number ranges the number assignment and field status groups of the account as well as whether it is used as a one time account The following vendor account groups have been set up CR1TOne time third parties CRVAffiliated Associated Related companies CRFAThird Parties CEMPEmployees CICBIntra company business CSSDSSD OrgID addresses not applicable for China CEDIZEDI SSD OrgID addresses not applicable for China Accounting Services AS Accounting Manual Payables Page 5 of 43 Within the Spiridon solution employees are created as vendors to enable companies to pay business or permanent advances and expenses to employees Therefore employees need to be registered as vendors in the system 2 1 1 3 Vendor number range The vendor number ranges for SLC are defined as CRIT88888888 99999999 CRV4521 ARE 4621 ARE 4883 XX ARE CRFA4XXXXXXX CEMP9 Personal number CICBP XXXXXXXX in practice it refers to profit center always Two one time domestic vendors have been set up under all company codes Account 99999999 is designated for one time vendors with withholding tax implications e g purchased labor with IIT to be withheld while account 88888888 is designated for one time vendors without withholding tax implications In order to separately record and disclose foreign currency transactions the one time vendor 88888888 shall be used for CNY transactions only and therefore individual vendor master data has to be maintained for overseas trading partners in foreign currency transactions In contrast to other master records no data specific to a single vendor are stored in the one time master records since these accounts are used for more than one vendors The vendor specific data for one time vendors are entered into the document at the time of posting In SAP a vendor account is set up for each vendor For this purpose each vendor is assigned with a unique identifying vendor code Specifications for ICC participating vendors are detailed in Section 2 6 2 of Accounting Manual ICC accounting 2 1 1 4 Bank keys Bank data from respective countries including ICC bank codes are stored under Bank Keys For bank keys of ICC participating vendors please refer to Section 2 4 of Accounting Manual ICC accounting 3 1 1 5 Assignment number Accounting Services AS Accounting Manual Payables Page 6 of 43 Vendor invoice number shall be introduced as the assignment number of the liability postings in invoice verification PO item number shall serve as the assignment number of the GR postings 3 1 1 6 Reference field Reference field is used to connect official invoices to SAP documents created in FI or MM This field is at the header level of MM documents and FI documents In SLC the reference field for invoice verification is the official vendor invoice number which serves as the linkage to the tax reports 2 1 1 7 Tax code Tax codes are defined in SAP to differentiate natures of tax transactions and tax rate applicable The following tax codes are most frequently used in AP accounting Input VAT J0 0 Input tax China J1 17 Input Tax China Special Invoice J2 13 Input tax China J3 7 Input Tax China J4 6 Input Tax China J5 4 Input Tax China For deferred input VAT 1J Deferred input VAT 17 2J Deferred input VAT 13 3J Deferred input VAT 7 4J Deferred input VAT 6 5J Deferred input VAT 4 For Input VAT transfer out T1 17 Transfer Out Tax T2 13 Transfer Out Tax T3 7 Transfer Out Tax T4 6 Transfer Out Tax T5 4 Transfer Out Tax TA17 Transfer Out Tax particularly for STDC 2 1 1 8 Withholding tax Accounting Services AS Accounting Manual Payables Page 7 of 43 Withholding tax code is pre defined in the Vendor Master Tax typeTax rate 01015 Withholding Business Tax 01023 Withholding Business Tax 01038 Withholding Business Tax 020418 Withholding Income Tax 020520 Withholding Income Tax 03065 Composite rate lease 03072 5 Composite rate lease 04083 Withholding IIT purchased services 040920 Withholding IIT purchased services 051012 Withholding Property Tax 060410 Withholding Income Tax after Business Tax 060520 Withholding Income Tax after Business Tax 2 1 1 9 Payment terms Payment terms control the due date and discount percentages for payables and define how payment is to be made check bill of exchange or bank transfer Payment terms may be assigned to the vendor master or per document A001 Payable immediately due net A002 Payable immediately due net baseline date on end of the month A003 Payable immediately due net baseline date on 10 of next month A004 Within 3 days due net A007 Within 7 days due net A0010 Within 10 days due net A180 Within 180 days due net AF03 Before 3 of next month due net AF15 Before 15 of next month due net AF26 Before 26 of next month due net AF28 Before 28 of next month due net AG15 Before 15 in two months due net AG28 Before 15 in two months due net AI15Before 15 in 4 months due net B001 Within 14 days 2 cash discount within 30 days due net B002 For incoming invoices until 15 of the month before 15 of the next month 2 cash discount before end of the next month due net For incoming invoices until end of the month before end of the next month 2 cash discount before 15 in 2 months due net C001Within 14 days 3 cash discount within 20 days 2 cash discount within 30 days due net Accounting Services AS Accounting Manual Payables Page 8 of 43 C002Before end of the month 4 cash discount before 15 of the next month 2 cash discount before 15 in 2 months due net C003For incoming invoices until 15 of the month within 14 days 2 cash discount Within 30 days 1 5 cash discount within 45 days due net base line date on 30 of the month For incoming invoices until end of the month within 14 days 2 cash discount Within 30 days 1 5 cash discount within 45 days due net base line date on 15 of the next month IC00ICC collection fixed 15 M IC01ICC collection fixed 15 M 1 IC02ICC collection fixed 15 M 2 IC03ICC collection fixed 15 M 3 IC04ICC collection fixed 15 M 4 IC05ICC collection fixed 15 M 5 IC06ICC collection fixed 15 M 6 Without specification the payment term for third party vendors and non ICC affiliated vendors is defaulted as A030 representing 30 days due while the system takes the payment term from billing document as the priority Payment terms for holdback retainage An invoice amount may need to be divided into partial amounts with different due dates For these terms of holdback payment the amount of the holdback in percent and the terms of payment for each holdback payment are determined When the invoice is posted with terms of holdback payment the system generates the corresponding number of line items due to specifications for the holdback The terms of payment for holdback retainage are specified under a particular terms of payment key representing installment number percentage rate and payment term of installment Example Payment term D0001 Holdback retainage 1st instalment 30 A001 2nd instalment 40 A002 3rd instalment 30 A003 2 1 1 10Payment methods The payment method specifies the procedure to be used when payments are made C Check E Bank Transfer I ICC Bank collection V SFS Credit Payments Accounting Services AS Accounting Manual Payables Page 9 of 43 W Withheld After defining Permitted Payment Methods in the parameters their priority for the payment run can be determined Example E C 2nd priority Check 1st priority Bank transfer 2 1 1 11 Alternative payee At the client and company code level an alternative payee can be entered The input into the company code segment has higher priority than at the client level Furthermore an alternative payee may be entered in the line item The field Individual spec must be marked for this purpose 2 1 1 12 Tolerance group Tolerances are a group of rules used to define an accepted deviation from specified values e g differences in payment and residual items that can occur during payment settlement Currently the tolerance for the variance between the invoiced amount and PO amount is Rmb 1 00 for all company codes under SLC 2 1 1 13 Special general ledger indicator SGI In SAP a vendor account is set up for each vendor For all line items in vendor accounts which are updated to an alternative reconciliation account in the general ledger the SGI determines which account is to be selected SAP classifies the transactions into appropriate general ledger accounts according to the Special Ledger Indicator as follows SGI GL A c No A c descriptioninancial payables accrued interest 24539002181Financial payables others 34580002161Liabilities to company dividends payable 42720301133Other receivable from employees etc housing loan to employees 52720501133Other receivable from employees etc salary advance to local contracts and DV 62761301133Other receivables against former employees 72720101133Receivable from employees etc tax allowance to DA A2310001151Advances to suppliers for inventory 3rd parties Accounting Services AS Accounting Manual Payables Page 10 of 43 B2510001151Advances made to Siemens companies C2781001151Advances for miscellaneous assets FNoted itemRequest for advances K2720401133Other receivable from employee etc business advance L2720201133Other receivable from employees etc loans to staff M0833001603Advances for construction third parties N4531002101Financial payables 1 year O 4580002181Other liabilities PNoted itemPayment request W4541002111Trade payables 3rd parties notes payable Y2720701133Other receivables advances for telephone fee Z2720601133Other receivables V allowance for expatriate staff T2761601133Other receivables non trading nature V2350001151Advance received US GAAP advance paid HB1 The system also provides availability of the following selections which are not presently used in SLC nevertheless D Discounts G Guarantee received H Security deposit I Intangible asset down payment J Employee Permanent advance S Check bill of exchange V Stocks down payment X Trip advance 3 1 2Vendor master maintenance 2 1 2 1 Vendor master data maintenance request Vendor records are created maintained centrally by AS BU triggers the process by sending a Vendor Master Data Maintenance Request Form to AS All creation change requests are subject to authorizations in conformity with Signature Mandate BU shall provide complete necessary information on this request AS shall maintain the vendor master accordingly Both English and Chinese should be used to fill in this form as required by individual fields For domestic vendors Chinese version of the Bank Details of the vendor shall be accurate to enable efficient payment run It is also important to provide the Chinese version of the general information which serves as the header of the PO AS AP group maintains the accounting view including General Data and Company Code Data in the central finance system BU maintains the Accounting Services AS Accounting Manual Payables Page 11 of 43 purchasing data in the purchasing organization data section Note Complete Vendor Master Record will be maintained by AS for STMT AP group files centrally approved and entered request forms Referring to the cost center mentioned on the request form AP group prepares the list for the internal billing charge 2 1 2 2 Vendor master transactions Creation of vendor master Request for creation of vendor master data should be indicated as Create in the Action field of the request form Fields denoted with M are mandatory For employee vendor master records Corporate Personnel CP is responsible for initiating the master record creation upon the conclusion of the employment contract with a new employee CP shall provide information such as name personal number company code department cost center and employment status of the employee with the Green Note and send it to AP group The employment status shall be specified as International Internship Local staff and Local contract DA DV JV DA and JV DV In case the BU including CP fails to initiate the vendor master creation before a transaction with this vendor takes place AS shall withhold the relevant accounting processing until the master is created After AP accountant assigns a vendor number and completes the other accounting data AP group leader checks and authorizes the data to be input into the system Email will be sent to BU to confirm the completion of maintenance of vendor master Turnaround times for maintaining vendor master records are specified in the Service Level Agreement SLA Vendor number control The AP group is responsible for preventing data redundancy and ensuring data consistency for vendor numbering Tax registration number of the vendor is used as the key for controlling the uniqueness of numbering Two alternative menu paths are available for central maintenance of the vendor master data Logistics Materials Management Purchasing Master Data Vendor Central Create Transaction Code XK01 Or Accounting Finacial Accounting Accounts Payable Master records Create Transaction Code FK01 Accounting Services AS Accounting Manual Payables Page 12 of 43 SPI CHN EUM AP FK01 doc The creation of vendor master records for employees is performed accordingly SPI CHN EUM AP FK01 employee doc Change of vendor master BUs are responsible for updating AS with any changes in the vendor master Request for change of vendor master data should be indicated as Change in the Action field Menu path Logistics Materials Management Purchasing Master Data Vendor Central Change Transaction Code XK02 Or Accounting Finacial Accounting Accounts Payable Master records Change Transaction Code FK02 When a master record is changed the system logs these changes and generates change documents For each field it stores the time of change the name of the user and the previous field contents SPI CHN EUM AP FK02 doc Display of changes to vendor master The changes made to the vendor master can be displayed via menu path Accounting Financial Accounting Accounts Payable Master Records Display Changes Transaction Code FK04 SPI CHN EUM AP FK04 doc Display of vendor master The information contained in vendor master can be displayed via menu path Logistics Materials Management Purchasing Master Data Vendor Central Display Transaction Code XK03 Or Accounting Finacial Accounting Accounts Payable Master records Display Transaction Code FK03 SPI CHN EUM AP FK03 doc Accounting Services AS Accounting Manual Payables Pa