The chart of accounts is a variant that contains the structure and basic information of a general ledger account. False True.
A chart of accounts is defined with a four-character ID and has the following components: Chart of account key Group chart of accounts (Consolidation) Name of the chart of account Maintenance language Length of the G/L account number Controlling integration Block indicator.
The chart of accounts (for example, INT, IKR, CAUS, or any other chart of account applicable for a country) must not be assigned to every company code, which needs to maintain the accounts based on the structure of the chart of accounts concerned. True False.
The account number of a general ledger account can range from 0 to 10 1 to 5 2 to 10 1 to 10.
The integration between general ledger accounts and cost elements allows you to control the maintenance of the cost element master record. True False.
You can create cost elements either manually or automatically. With automatic creation when you save a new general ledger account, it automatically creates a corresponding cost element. A prerequisite, however, is that a default value for the cost element category should be defined in customizing. In the absence of a default value, the system assumes that no cost element is to be created. True False.
You can assign a group account number for each general ledger account. This account number is used for cross-company code reporting if the company codes use different charts of accounts. False True.
To enter a group account in the general ledger account, you have to enter a group account number in the corresponding field in the general ledger account definition (required entry field). The system then checks whether the group account number exists in the group chart of accounts. True False.
The definition of Chart of Account contains: Chart of Account Key Language Description Block Indicator All of above.
General Information of a Chart of Account contains: Maintenance Language Chart of Account Key Length of GL Account Number None of above.
Controlling component of Chart of Account contains "Manual or Automatic creation of Cost Elements" True False.
Consolidation component of Chart of Account contains "Group Chart of Account" False True.
Block Indicator: An incomplete chart of accounts can be blocked. In the blocked state, no company code can use the chart of accounts. False True.
Every company code must be assigned a chart of accounts. In accordance with the variant principle, it is not possible to assign one chart of accounts to several company codes. False True.
The Controlling component and the Financial Accounting component use the same chart of accounts. If company codes use cross-company code controlling, then the company must use the same chart of accounts. True False.
You can use report RFSKVZ00 to view the G/L account directory with the chart of account-specific data and the company code-specific data. True False.
The chart of accounts contains basic information about accounts. This information is summarized in the chart of accounts segment.
The chart of accounts segment of a G/L account contains the following information:
Account number Name of the account (as short and as long text) Control fields Consolidation fields All of above.
You can translate the chart of accounts into other languages. The translation allows you to display the account name in the appropriate logon language when displaying master data and posting it. If you do not translate the chart of accounts in the logon language, the account name appears in the chart of accounts maintenance language. False True.
Chart of Account Segment consists of several groups of fields: Type/Description : Control in Chart of Account, Description, Consolidation Data in Chart of Account Keyword/Translation : Key Words in Chart of Accounts & Translation Information : Information in Chart of Account & GL text in Chart of Account None of Above.
The information that you enter in the chart of accounts segment for a general ledger account does not apply to all company codes. You need to enter this information every time. True False.
Texts entered for the chart of accounts segment are managed by text ID and language. True False.
You can make the following changes in the tab pages: The number of tab pages The title of the tab pages The field groups required and their position on the tab pages The layouts (for central processing and processing in the chart of accounts-specific and company code-specific area) No of Fields.
The standard ERP system contains layouts for several editing functions. You can copy these layouts and adjust them to meet your requirements. Then you can assign them to your chart of accounts or account groups. False True.
You can not define and change the layout of the tab pages for the individual processing of the general ledger account master data. True False.
To use an account from the assigned chart of accounts in your company code, you must create a company code segment for the account. This company code segment combined with the chart of accounts segment form an account. True False.
Chart of account segment controls the entry of accounting documents and the management of accounting data. True False.
Following are the fields in company code segment: Control Data Account Control Account Management Document Creation Information Joint venture.
Following are the fields in company code segment: Bank/Interest Document Creation Information Bank/Financial Detail Document Control Interest Calculations.
Following are the fields in the company code segment: Information Information Interest Join Venture GL Account Text.
A general ledger account can have several company code segments. True False.
You can define the following information for a company code: Currency Taxes Reconciliation account Line item display Sort key Field status group House bank Interest calculation information.
In the chart of accounts segment, you specify whether an account is a balance sheet or a profit and loss account.
Users can define the retained earnings account in Customizing. You can then assign this account to expense accounts during the creation of the master record of the general ledger account.
True False.
Since a chart of accounts contains different types of accounts, you can arrange these accounts into different account groups.
False True.
Multiple accounts can be grouped in the following ways: Cash Accounts Material Accounts Asset Accounts Profit & Loss Statements Accounts Suspense Accounts.
By assigning a number range to an account group, you can ensure that accounts of the same type are within the same number range. The numbers of the account group intervals can not overlap. True False.
You must enter the account group in the chart of accounts segment of the general ledger account master data. The account group controls the appearance of the company code segment of a general ledger account. True False.
The field status enables you to control the display and maintenance of the master data of an account. False True.
The fields Account currency and Field status group are always the required entry fields. The status for these fields cannot be changed. Fields, when suppressed, may contain values that still take effect.
True False.
The field status is generally controlled by the field group. You usually only use transaction-specific controls, to specify what can be edited when changing master data. False True.
There may be instances when you do not want specific fields to be modified by anyone after the master record has been created. You would assign the status Display to the relevant field for the action Change in the transaction Define Screen Layout for Each Transaction in General Ledger Accounting Customizing. True False.
SAP ERP application takes the field status definitions from the account group and the transaction into consideration and uses the one with a higher priority. True False.
The following order applies in the SAP ERP system, with decreasing priority: 4 2 1 3.
Fields accessed through the transaction Display Master Data can not be either displayed or hidden because you can make an entry in a Display transaction. False True.
If you do not want to use the transaction-specific control, then you can set the field status for all fields to Optional. Since the Optional field status has the lowest priority, the account group-specific control is always used to define the field status. True False.
Reconciliation accounts are general ledger accounts that receive postings from subsidiary ledgers. All postings to the sub ledger accounts are automatically posted to the assigned reconciliation accounts. This ensures that the general ledger is always updated.
True False.
You need to enter the account type in the field Reconciliation Account for Account Type in the company code segment section of the general ledger account master data. The reconciliation account is only valid for the account type specified.
Amounts cannot be posted directly to reconciliation accounts. True False.
The following are typical reconciliation account types: Receivables Profit & Loss Account Balance Sheet Account Payables.
Transaction figures are combinations of the line item postings on the debit or credit side. The balance is defined as the difference between the debit and the credit transaction figures. Line Item Display is a control field in the Company Code segment of an account. False True.
Without line item display Description: The most important data from the posted line items is stored in a special index table. Since this data is stored in documents, it needs additional storage and system time. Only transaction figures are updated when a document is posted to this account. When users look at this account online, they can only view the balance.
With line item display Description: Only transaction figures are updated when a document is posted to this account. When users look at this account online, they can only view the balance. The most important data from the posted line items is stored in a special index table. Since this data is stored in documents, it needs additional storage and system time.
In new general ledger accounting there is an Entry view and a General ledger view for a document. False True.
In the general ledger view, the line items on all accounts are always visible. The visibility cannot be changed because a sub ledger cannot completely explain the general ledger. For example, a profit center and segment entered in the items during document splitting isn't displayed in the sub-ledger. True False.
When the Open Item Management indicator is set in the master record for a general ledger account, the items belonging to this account can be in one of the following states: Open Close Cleared Parked.
Accounts with open item management must not have line item display activated. Open item management is not a prerequisite for checking whether a given business transaction has an offsetting posting. False True.
You should use open item management for the following accounts: Bank clearing accounts Asset Accounts Clearing accounts for a goods receipt or an invoice receipt Salary clearing accounts.
You can activate or deactivate open item management only when the account has a zero balance. True False.
Posting of items in different currencies is applicable irrespective of whether line item display is activated or not. True False.
When you define a company code, you also need to define the company code currency.As a standard, when you create a general ledger account, the SAP ERP system takes the local currency as the default account currency. True False.
If the master data record has the Only Balances in Local Currency indicator selected, then the transaction figures are managed only for amounts that have been converted into the local currency. False True.
Do not set the Only Balances in Local Currency indicator in the cash discount account and the GR/IR clearing account. Set this indicator in reconciliation accounts for customers or vendors. True False.
When you set accounts with a foreign currency, the account can only be posted to in this foreign currency. True False.
You can use the following methods to create the general ledger account, chart of accounts segment, and company code segment: One-step: Create both segments simultaneously (centrally). Copy an individual general ledger account: Copy it with reference to another general ledger account Copy the company code segment: Copy the entire company code segment. Two-step: Create a chart of accounts segment followed by the company code segment. Copy the chart of accounts segment: Copy the entire chart of accounts segment.
To reduce data entry, programs such as RFBISA00 and Batch Input Interfaces for general ledger account master data, can be modified by the ABAP team to transfer new charts of accounts. True False.
To change general ledger account master data in collective processing, you can use the following options: Change chart of accounts data Change company code data Change account descriptions Change field status variant.
If any company code uses a different chart of accounts, in order to get consolidated results, the following procedure applies: Create a group chart of accounts that contains all of the group accounts. Assign the group chart of accounts to each operational chart of accounts. Once this is done, the field Group account number in the chart of account segments of the operational charts of accounts becomes a required entry field. Enter the group account number in the chart of accounts segment of the operational account. Different accounts of one operational chart of accounts can refer to the same group account. Use a financial statement version for the group chart of accounts.
One alternative to a group chart of accounts is the country chart of accounts. All company codes use the same operational chart of accounts. True False.
Company codes that require a special chart of accounts for external reporting have the following options: A country chart of accounts is assigned. The account number of the country chart of accounts (an alternative account number) is entered in every operational G/L account company code segment. This number can only be used once. A Group Chart of Account.
|
