Hard currency - Hard Currencies are used in countries with 
high inflation to improve the value of transaction. When a 
hard currency is selected, the document is automatically 
updated in the local currency and the hard currency. The 
config for hard currency is done at the country level 

Group Currency - Group currencies are defined at the client 
level in table T000. Group currencies are used to enable  
cross-company postings in controlling for company codes 
that use different company code currencies.

We can post at tax at the time of downpayment and also at 
the time of Invoice. Kindly have a look in to SPRO screen, 
there are optins.

Hi Kishore could u be specific in ur answer as in spro i
went through options and did settings for input tax clearing
a/c still when i simulate the doc its not being posted
seperately
any one clarify

in vendor master record general data you can assign the 
customer number and vice versa if you want to clear the bal 
between these vendor and customer you tick the check box of 
clear with customer/clear with vendor.

through with group gl account you can consolidate

1. Define Dunning area 
2. Define Dunning Procedure
3. Assign Dunning procedure in Vendor Moster
4. Purchase Meterial from Vender
Dunning with T.code  f-150

if vendor has supplied material not according to our 
requirement,then the goods are returned back, and he can be 
done for suppying the correct requirement

if the vendor has been given some advance for the supply of 
materials and there is a delay in delivery, so, he can be 
dunned

"1. Define Terms Of Payments: T.Code: Obb8 Path: Img ->Fin.
Accting -> Ap Ar :-> Business Transactions :->Outgoing
Invoice And Credit Memo :-> 
Maintain Terms Of Payment
"
"2. Define Interest Cal Indicators / Type: T.Code: Ob46
Path: Img ->Fin. Accting -> Ap Ar :-> Business Transactions
:-> Interest Calculation Global Settings :-> Define Interest
Cal Types Here In Int Cal Type Select 'P' For Int Cal On
Line Items
"
"3. Make Interest Indicator Available To Interest Run
Program: T.Code: Ob82
Path: Img ->Fin. Accting -> Ap Ar :-> Business  Transactions
:-> Interest Calculation Global Settings :-> Prepare Int. On
Arreas
"
"4. Create Reference Interest Rate: T.Code: Obac Path: Img
->Fin. Accting -> Ap Ar :-> Business  Transactions :->
Interest Calculation :-> Interest 
Calculation -> Define Reference Interest Rate
"
"5. Assign Interest Indicators To Ref. Int Rate Or Define
Time Dependant Terms: T.Code: Ob81 Path: Img ->Fin. Accting
-> Ap Ar :-> Business 
Transactions :-> Interest Calculation :-> Interest
Calculation -> Define Time Dependant TermsHere In Sequnece #
Always Use 1 For Line Item Interest
"
"6. Interest Calculation Account Assignment: Here We Will
Mention How And Which Accounts The Interest  Program Should
Post. T.Code: Obv1
Path: Img ->Fin. Accting -> Ap Ar :-> Business  Transactions
:-> Interest Calculation :-> Interest Posting -> Prepare
Interest On Arreas Calculation (Customers)
"

dependent fiscal year represents april to march or from 
september to august.generally two years are involved in 
dependent fiscal year.

for eg:april 2008 to march 2009

       september 2008 to august 2009.

default is dependent fiscal year in sap.

INDEPENDENT fiscal year is usually from JAN - DEC.generally 
one year is involved in this type.ITS ALSO CALLED CALENDAR 
FISCAL YEAR.

there is one more fiscal year which is shortend fiscal year.
its usually for less then 12months.this fiscal is used for 
a newly formed company..

Hi,
In IMG go to financial accounting global setting then go to
fiscal year variant and set the fiscal year variant on year
dependent year and follow the following procedure:

1.  enter name of month started from may and end on april
2.  enter the number of days in a month you want to close
for example in may number of days is 28 instead of 31 
3.  enter period from 01 to 12 started from may to april
4.  enter -1 against the month from jan to april

For Example :

  Month       Number of Days       Period        Year Shift
  May08          28                01                 0
  June           35                02                 0
  July           28                03                 0
  Aug            28                04                 0
  Sep            35                05                 0
  Oct            28                06                 0
  Nov            28                07                 0
  Dec            35                08                 0
  Jan09          28                09                -1
  Feb            28                10                -1
  Mar            35                11                -1
  Apr            31                12                -1 

Year Independent: the financial year is different from
calendar year Starting from 1st April to 31st March (where
the posting period months are not equal to calendar year months)

For Example :

  Month       Number of Days       Period        Year Shift
  Jan09          31                10               -1
  Feb            29                11               -1
  Mar            31                12               -1
  April08        30                01                0
  May            31                02                0
  Jun            30                03                0
  July           31                04                0
  Aug            30                05                0
  Sep            31                06                0
  Oct            30                07                0
  Nov            31                08                0
  Dec            30                09                0

Hope this would definitely help you out.
Thank you.

Fi intigrate with mm through the t code;obyc in this step with movement type (means Signifies the Material transation)  and transactions keys (like BSV, BSX, EIN,EKG,PRD,GBB) are assigned to the fi whenever p.o order is place it is automatically enter into the fi.

At the time of Maintain controling area we give company 
code currencey 10

Inthe currency field we give 10 all basic setting comes 
automatically

Both are the same

In the maintain controlling area we shoulg be give the 
company code currency

controlling curreny and company code current are same.

Placing purchase order through me21n then
Migo  then Miro

PURCHASE REQUEST (ME51N) purchase cycle
PURCHASE ORDER (ME21N)
G/R OR I/R NOTE (MIGO)
EXCISE INVOICE (J1IEX)
INVOICE VERIFICATION (MIRO)
PAYAMENT (F-58)

purchase depatment rise the po order---
 enquire,quatation,prize compar
after that the purchase depatment rise the po order
after goods recipt 
inventory a/c dr
     to ir/gr clearing
at invoice varification
    ir/gr a/c dr
       to vendor
at payment to vendor
   vendor a/c dr
      to bank