What is adjusting journal entry in SAP (AP-ACC - FIN Accounting)?

SAP Term: adjusting journal entry

• Component: AP-ACC

• Component Name: FIN Accounting

• Description: Adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Smart SAP Assistant

• Key Concepts: 
  An adjusting journal entry is a type of journal entry used to correct errors or omissions in a company’s financial records. It is used to adjust the balance of an account in the general ledger. In SAP, adjusting journal entries are created in the component AP-ACC FIN Accounting. 
  
  How to use it: 
  To create an adjusting journal entry in SAP, first navigate to the component AP-ACC FIN Accounting. Then, select the “Create Adjusting Journal Entry” option. Enter the necessary information such as the account number, amount, and description of the adjustment. Finally, save the entry and post it to the general ledger. 
  
  Tips & Tricks: 
  When creating an adjusting journal entry in SAP, it is important to ensure that all information is accurate and complete. Additionally, it is important to document all adjustments made in order to maintain an audit trail. 
  
  Related Information: 
  For more information on adjusting journal entries in SAP, please refer to the SAP Help Portal or contact your local SAP support team.