Reset Clearing
Application component: Contract Accounts Receivable and Payable
App type: SAP GUI
Description:  The clearing of open items, and all postings that were created automatically may sometimes, depending on the circumstance, have to be reversed. You define the clearing with various functions (see table) depending on the situation. Note that there are other functions besides Reset Clearing (transaction FP07), with which you can reverse clearings. Situation Action Choose the following function: The business transaction that led to the posting of clearing (for example, incoming payment) has been entered, but the wrong items were cleared. The clearing has to be canceled, completely or partially. Reset Clearing For more information, see the following text. The business transaction that gave rise to posting of the clearing has not at all taken place in this form or incorrect postings were entered for this business transaction. It is not only the clearing and the related postings that are reset, but also all other postings related to this business transaction. Reversal (see also Entering Documents ) An incoming payment that was already processed has to be reversed since a return has occurred for the payment. In this case, the reversal is a special variant. The return was first posted by the bank statement on the bank account and the settlement account for returns clearing account. After the admission of the return in a returns lot, an additional document is posted because of this that distinguishes itself from a reversal posting in one item in the following manner: Instead of posting to the clearing account for incoming cash, the return clearing account is posted to. Posting Returns Lots (see Returns)  
Key features:  Scope of Reset You can completely or partially reset a clearing. If items were cleared from different business partners, contract accounts, or contracts and one of the following reasons exists for resetting clearing, it is recommended that only a part of the clearing is reset and not the entire clearing.  Only some of the business partners, contract accounts, or contracts were selected incorrectly. The document for one of the cleared items must be reversed (for example, invoice issued with the wrong amount)   To do this, in the initial screen of transaction Reset Clearing (in the SAP Easy Access screen, under: Document  Reset Clearing), press the Undo Parts of Clearing radio button as part of Settings. You define the posting of the clearing amount under Setting for Posting the Clearing Amount by using the relevant radio buttons (Retain Distribution to Accounts, Create a New Open Item, Clearing Amount to Clarification Account). For more information, see app documentation for the radio buttons. When resetting clearing, you cannot decide for each cleared item whether the clearing is to be reset, this can only be done for a group of items. The system groups the cleared items according to the following criteria:  Business partners  Contract account  Contract  Company code  Business place / Korea  Business area  Collective invoice number  Division  Document number  Reference document number   Posting the clearing amount You can reset clearing, depending on the initial situation as follows:  You can create a new open item in the amount of the clearing amount. This item is on one of the contract accounts involved in clearing.  You can retain the distribution to contract accounts and contracts.  You can post the clearing amount to the clarification account.   System activities The system performs the following actions for the clearing document number you specified:  A reset document is generated.  The clearing information is reset for all items that were cleared by the document specified.  New items are added to the clearing document as replacement for the clearing items that no longer exist. They represent the amount in the clearing document that was available for the clearing of open items. For example, this can be part of an incoming payment that was used for clearing open items but not for payments on account. The new open items created can be used for clearing other items.  In the clearing document, all down payments and budget billing payments that were created by clearing down payment requests or budget billing requests are cleared. The document number of the reset document is entered as the clearing number.  In the reset document, offsetting postings are inserted for all G/L items (cash discount, exchange rate differences, taxes, charges) that are created in the clearing document due to the clearing of open items.  During clearing, differences within predefined tolerances are accepted and automatically posted to an expense account.  For a complete or partial reset of clearing for an incoming payment document that was posted by means of a payment or check lot, a new clarification case is automatically created for incoming payments, or the amount requiring clarification is adjusted in an existing clarification case. If the clarification case is created for a payment lot that has already been closed, the status changes again to Postprocessing Necessary.   Resetting Clearing in the Environment of Other Transactions You cannot post reversals and returns if the document to be reversed or the payment document contain items that have already been cleared. Typical examples are payments on account, budget billing requests, and other down payments that have already been cleared. You can reset obstructive clearings both for returns and for reversals. To do so, you can set the indicator Enhanced Returns Processing in the returns lot. In an online reversal, the obstructive clearings are listed and can be reset in the background or in dialog mode. When you reset obstructive clearing, you can only use a partial reset of clearing, with which only the clearing information in the document / payment document is to be reversed. 
Business roles: Accounts Payable and Receivable Accountant (FI-CA)
Accounts Payable and Receivable Accountant (FI-CA) : 
Deals with payment and credit clarification of B2B and B2C customers and works off complex customer requests according account clarification.