What is recognition in SAP FI-GL - General Ledger Accounting?

SAP Term: recognition

• Component: FI-GL

• Component Name: General Ledger Accounting

• Description: Accrual Engine Recognition of accrual amounts. If accruals are necessary for an invoice, the total amount of the invoice is posted to an accrual account as opposed to a revenue account. After this opening posting, partial amounts from the accrual account are posted in each period to a revenue account by means of periodic accrual postings.

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• Key Concepts: 
  Recognition in SAP FI-GL General Ledger Accounting is the process of recording a transaction in the accounting system. This is done by creating a journal entry that debits and credits the appropriate accounts. The journal entry is then posted to the ledger, which updates the account balances. 
  
  How to use it: 
  In order to recognize a transaction in SAP FI-GL General Ledger Accounting, you must first create a journal entry. This can be done by entering the appropriate debit and credit accounts, as well as the amount of the transaction. Once the journal entry is created, it must be posted to the ledger in order to update the account balances. 
  
  Tips & Tricks: 
  When creating a journal entry for recognition in SAP FI-GL General Ledger Accounting, it is important to ensure that all of the information is accurate and complete. This includes double-checking that all of the accounts are correct and that the amounts are entered correctly. Additionally, it is important to ensure that all of the necessary supporting documents are attached to the journal entry before it is posted. 
  
  Related Information: 
  Recognition in SAP FI-GL General Ledger Accounting is just one part of the overall accounting process. Other steps include posting, reversing, and clearing transactions. Additionally, there are various reports available in SAP FI-GL General Ledger Accounting that can be used to analyze and review transactions.