The APP has been developed for both National and International Payment transactions with Vendors and customers and handles both outgoing and incoming payments. True False.
APP is flexible enough to allow users to define those payment features that vary from country to country such as payment methods, payment forms or data carrier sprecifications. True False.
The Steps involved in Payment process. Setting parameters Generating a Proposal Scheduling the Payment run Printing the Payment media Creation of House banks Creation of Customer /Vendor/GL masters.
In APP, Parameter setting consists of Which is to be paid? Which payment methods will be used? When will the payment be made? Which company codes will be considered? How they are going to be paid?.
The system starts the proposal run after the parameters are entered. True False.
Proposal run genrates a list of Bussiness partners and the open invoices that are due for the payment. True False.
Invoices can be blocked and unblocked for payment in the payment proposal. True False.
Once the payment program is run, a payment document is created and general ledger and subledgers are updated. True False.
Steps involved in the payment program configuration. All Company codes Several company codes Paying comapany codes Payment method/Country Payment method for company codes. Bank selection House Banks.
Select the correct statemets relating "All Company codes" in payment program configuration. Inter Comapny Relationships. The company codes that process the payment. Cash discounts The customer and vendor transactions to be processed Separate payments for each Bussiness area. Usage of payment methods supplements.
The Sending company code in "All company code" Setting used for cross -Company code payments. True False.
If a Company code "A" is making poayments on behalf of another Company Code "B", then select the correct statement from the list given below. Company Code "A" is a paying company code that is resposible for processing outgoing payments. Company Code "B" is a sending company code. Comapany code " A" records the bank postings to bank main accounts or sub-accounts Company code "B" records the subledger postings. Both the companies balance by automatically generating cross-company postings.
The sending company code is the company code that is known to the busisnes partner. True False.
We have to specify both sending company code and paying company code for each comapny code in "All company codes" settings for cross - company code payments. True False.
If the sending company code is different from the paying company code the system notes the sending company code in the payment transfer medium or payment advice for the information of Bussiness partner. True False.
Sending company code helps the payment program to group the items from different company codes into one payment. True False.
IItem are grouped for one payment for the company codes with the same paying and sending company codes. True False.
If the sending company is not specified the system regards the paying company code as the sending company code. True False.
We can group the line items that are due for one payment if a "Seperate payments for each Business Area" indicator is set in "All Company codes" Settings. True False.
Payment method suppliment represents an internal mail channel. True False.
payment method suppliments are reffered to as "Mail Stop codes" in U.S.A and Canada. True False.
Using "Payment method supplements" payments are sepreated in the document according to a preset charecteristic. True False.
If we activate "payment method supplement" in the All company codes setting, the same can be pre-defined in the customers and vendors comapny code master data. True False.
Payment method suppliments are used to group the payments. True False.
Payments can be seperated by payment method suppliments and can be printed separately. True False.
When determining the due date, the system adds the number of days specified in the "Tolerance Days for Payables" to the actual due date. True False.
If "Tolerance days for payables" option is used, payment is then made sometimes after the exact date in the terms of payments. True False.
Tolerance days for payables specifies the number of days by which the cash discount periods and preiod for the due date for the net payment may exeed. True False.
"Tolerance days for payable" will grant a certian number of grace days and postpone the payment of some due items until the next payment run, while still receiving the appropriate discounts. True False.
"Vendor / Customer Spl. GL transactions to be paid" in all company code settings specifies which special general ledger transactions can be "processed or thowed" into exception list with the payment program. True False.
For "minimum percentage rate for payments with cash discount", only items that have a cash discount percentage rate grearter than or equal to the one specified are paid with the cash discount deducted. If the percentage rate is less than the specified percentage, payment is made at the due date for the net amount. True False.
Vendor payment always with maximunm cas discount indicator, allows the payment program to deduct maximum discount. True False.
The contol data in the Paying company code settings consists of Minimu amounts for Incoming and Outgoing payments Maximum amounts or incoming and outgoing payments Do not post any exchange rate differences Seperate payment for each payment reference. Bill of exchange payment. Create Bill of exchage options EDI and payment advice form setting.
Available tabs under Paying company code details. Control data Bill of Exchange data EDI and Payment advice forms tab Paymetn method suppliment Seperate payment for Bussiness area.
Seperate payment method for each payment reference indicator in paying company code detials is used to settle with one payment, the invoices and credit memos which have the same payment references of the payment methods. True False.
In the paying company code details, "One Bill of exchage per due date interval" indicator is set to clear the due items with a bill of exchange which is created prior to the payment run. True False.
APP can create a new Bill of exchange, for One Bill of exchange per invoice. One Bill of exchange per due date Bill of exchage for incoming payments Bill of exchage for outgoing payments Bill of Exchage life span can be defined.
Select the correct option related to Payment methods per country. Payment method determines how the payments are to be made, e.g by check, bank transfer or Bill of exchage. Payment methods are entered in the master records of customers and vendors. If an open item is to be paid using a specific payment method, we need to enter it in the open item. payment methods are first needs to be defined for a specific country and then define the terms for the method per each company code. We can create a payment method for post office bank We can create a Bill of exchange Before due date.
In APP Payment methods have 2 components:Country specific settings and Compony code specific settings. True False.
Paticular payment method requires a cretian master record data like address. Invoices will not be paid with this payment method unless the requiurement is met. True False.
Docoument types used for posting and clearing are defined in the payment method for country specifications. True False.
We can set print program and print data for a payment method in country specification details. True False.
We cannot restrict the payment method for specific curriencies. False True.
We can use the payment method valid for all curriencies. True False.
Select the correct statement related to payment method for country specific data. Define the payment methods Master data requirement, eg - address requuired. Document types for postings Print program permitted currencies.
What all can be defined for payment methods in company code. Minimum and maximum payment amounts Whether the payments are abroad and forign currencies are allowed Grouping option Bank optimization Forms for payment media Postal code optimaization.
The bank selection screen contians folders for each of the following sections. Ranking order Available accounts Bank accounts Expense/charges Value date.
Ranking order option is used for processing payment using the house banks in the order they have been entered for each payment method. True False.
In the folder "Accounts and Amounts" under Bank selection we can define the following for each combination of house bank and payment method. Offset account to the subledge posting Clearing account for Bill of Exchange Available funds in each Bank None of the options.
Value date folder under the bank selection details is used in conjection with the cash management to track the outflow of funds. True False.
Value date = payment run posting date + days until value date. True False.
bank charges are levied for the incoming and outgoing payments. True false.
Relevant to cash flow indicator must be set in the master record of accounts that record bank charges. True False.
Every payment program is identified with Run date & Identification. True Fasle.
The Identification field in the APP run is used to differenciate between program runs with same run date. True False.
The Run date is recommended as the actual date when the program is executed. Its main purpose is to identify the program run. True False.
In the payment run the field " Docs entered up to" date includes all the documets till that date. True False.
In APP posting date is the date when the general ledger is updated with the postings, this date is defaulted from the run date. True False.
We can process the APP for multiple company codes seperated by coma. True False.
A range of company codes can be entered for the APP processing. The range is maintained in between the parentheses for lower and upper limits. True False.
The payment method defined in the parameters of the APP Run are derived form Country specifications and not Company code specifications. True False.
If the we specify more than one payment method in the parameter, the APP program picks them in the order they have been entered. True False.
The proposal run selects documetns and accounts with items and groups that are pending for payment and groups them for payment. True False.
If the system cannot find a valid payment method or bank data or if an item is blocked for payment, it adds these items to the exception list. True false.
Once the proposal run has been completed, the system generates two reports: Payment proposal list and the exception list. We can edit both the report and print them out. True False.
Different ways to configure a payment block. Block and unblock during the invoice verification process. In the master records. We can blok the invoice.
We can unblock the items at the time of payment run True False.
The documets included in the payment run are locked against any other postings, that is, the invoice eligable to be paid in the current payment run is blocked fro manual payment or payment or in a different payment run. True False.
The payment program automatically posts payments and related postings, such as those for tax, tax adjustments, exchange rate differences or cash discounts. True False.
Some countries require that the payment documents are not posted before the actual settlement, that is, not before the payment appears on the bank statement. For such type of payments we need to set the "Generate payment order only" Indicator.In this case system generates payment order instead of payment document. True False.
We can use the Payment medium workbench as an alternative to the standard payment media print programs. True False.
APP can not clear the debit balance items in a credit account as the debit items doesnot contain payment method for incoming payments. These accounts are blocked and place in the exception list. True False.
We can use the schedule manager and scheduling function for the payment process. True False.
Name the documents used in the payment process. Vendor Invoice Payment doucment Checks Purchase order Delivary Shipment.
What methods can we use to create checks? Manual Checks Automatic payment program:RFFOUS_C or RFFOD_S None of option is correct.
We can void a check without reversing the payment document. True False.
We can void the check and reverse the payment document at the same time. True False.
We can void a check, reverse the payment doucment and the vendor invoice all at same time. True False.
A reason must be given for every voided check. True False.
Checks can be voided before the print run, if they are: Accidentally damaged Stolen Destroyed None.
Checks can be voided after the print run if they are: Not requiured because a cash payment is made. Torn during printing Used for a test print. None of the options are correct.
When we void a check, the payment doucment, original invoice and the check register are updated. True False.
When we reverse a document, a new reversal document is created. True False.
The check register program RFCHKN00 is an ABAP program whcih displays information related to All checks Outstanding checks Checks Paid Voided checks.
The check clearing account is configured in the house bank. True Fales.
Cash account is configured in the payment program. False True.
Check clearing account need not use open item management. True False.
The alternative bank acount number is used for distinguishing house bank accounts with identical account numbers. This can occur if a house bank manages accounts in different currencies using the same account number. True False.
Alternative bank account number is maintained along with the Bank Key in the system. True False.
Bank Key specifies bank data for a specific country. True False.
Select the correct statement for the SWIFT Code. Swift code is used for International Payments. Consits of 34 digit Apha Numebric number. Used for Automatic payment transactions Society for Worldwide Inter-Bank Financial Telecommunication.
Bank Group Servers to classify banks in such a way that payment transactions within a group are porcessed as quickly as possible. True Fase.
Which statement regarding bank master data are correct? A GL account names for the house banks have to be the same as the names in the bank directory. The GL account names for house banks are freely definable. The Gl account names for the house banks can contain the name of the bank and the account number. The GL account names for the house banks are defined in the chart of accounts. The GL account names for House banks can be defined at company code level in a different way to the chart of accounts.