What is balance sheet adjustment in SAP FI - Financial Accounting?

SAP Term: balance sheet adjustment

• Component: FI

• Component Name: Financial Accounting

• Description: The preparations made before creating a balance sheet, including: Valuation and adjustment posting of receivables and payables posted in foreign currency Adjustment posting of receivables and payables with a changed reconciliation account Adjustment posting for customers with a credit balance and vendors with a debit balance Breakdown and adjustment posting of receivables and payables according to remaining terms

Smart SAP Assistant

• Key Concepts: 
  Balance sheet adjustment is a process in SAP Financial Accounting (FI) that allows users to adjust the balance sheet accounts of a company. This process is used to correct errors in the balance sheet accounts or to make changes to the accounts due to changes in business operations. 
  
  How to use it: 
  To use balance sheet adjustment, users must first identify the account that needs to be adjusted. Once the account has been identified, users can enter the adjustment amount and select the type of adjustment (debit or credit). The adjustment will then be posted to the account and will be reflected in the company’s financial statements. 
  
  Tips & Tricks: 
  When making adjustments to balance sheet accounts, it is important to ensure that all adjustments are properly documented and that all supporting documents are available for audit purposes. Additionally, it is important to ensure that all adjustments are made in accordance with applicable accounting standards. 
  
  Related Information: 
  For more information on balance sheet adjustment in SAP FI, please refer to the SAP Help Portal or contact your local SAP support team.