Each currency key can have a validity date. True False.
Company Code Definition A company code represent an independent balancing/legal accounting entity. A company code represent a separate area of operation within an organization and can be used across company codes.
Business area definition A Business area represent separate areas of operation within an organization and can be used across company codes A Business area is a balancing entities that can create their own set of financial statements for internal purposes. A Business area represents an independent balancing/legal accounting entity.
In the mySAP ERP standard system, company code 0001 is a template for a general company code with chart of accounts INT and no special country specifications. True False.
The country installation program not only creates a country-specific company code template but also a country-specific template for controlling areas, plants, purchasing organizations, sales organizations, credit control areas, financial management areas True False.
You can assign a business area to a company code directly. False True.
Look for all the settings that are relevant for the business area balance sheet. Enabling Business Area Financial Statements Check Activation of Business Area Balance Sheets Activate Business Area Balance Sheets.
The Fiscal Year define as Year independent Year specific (dependent) Year automatic.
You define the fiscal year as a variant that is assigned to_________________ The company code The business area The functional area.
The fiscal year variant contains the definition of posting periods and special periods True False.
Special periods are used for postings that are not assigned to time periods, but to the business process of year-end closing True False.
The system derives the posting period from ___________ The posting date The baseline date Document date Due date.
If the posting date falls within the last normal posting period, you can post the transaction in one of the special periods. True False.
A year-independent fiscal year variant can be defined as a ______________________ Calendar year Non-calendar year Fiscal year.
A fiscal year that is a calendar year must have _________ 12 posting periods. 16 posting periods. Less than 12 posting periods. None of above.
If the fiscal year is defined as the calendar year, the posting periods are equal to the months of the year. True False.
If the fiscal year is defined as a non-calendar year, you have to define the posting periods by assigning end dates to each period. True False.
Which of the predefined fiscal year variants are Calendar year 01 K1 K0 K2 K3 K4 UL AA.
Which of the predefined fiscal year variants are year Specific AA AM UL R1 K2 WK.
For what purposes are year-specific fiscal year variants usually used? If the start and end date of the posting periods differ from year to year If one fiscal year has fewer posting periods than the others (shortened fiscal year).
For every combination of two currencies, you cannot maintain different exchange rates which are distinguished by an exchange rate type. True False.
Each currency is identified by __________ A currency key A currency type A transaction type Local Currency.
The relationship between currencies must be maintained per exchange rate type and currency pair using _______________ Translation ratios Currency key Transaction currency.
Translation ratios can be maintained on a time period basis. True False.
Tools used for maintain exchange rates are _________ Inversion Base currency Exchange rate spreads Currency key.
A base currency cannot be assigned to an exchange rate type. False True.
Base Currency : Check the Correct answer A base currency can be assigned to an exchange rate type. A translation between two foreign currencies is calculated via the base currency, that is, by combining two exchange rates.
For each currency pair you can define either the direct quotation or the indirect quotation as the standard notation for the exchange rate. True False.
If the exchange rate you enter does not have the same quotation as the standard quotation set up here, the exchange rate is highlighted to show this. True False.
In lots of companies, the maintenance of the exchange rate table TCURR is shared by several employees. The following problems can occur: Employees maintain incorrect exchange rates (unknowingly or unintentionally) Employees maintain the exchange rates with the incorrect quotation (indirect instead of direct, or vice versa) The table is very large, and maintaining it is very time-consuming (scrolling is necessary) The table TCURR cannot be maintained by more than one user simultaneously.
As of release R/3 Enterprise you can define worklists and then maintain the exchange rates using the transaction TCURMNT. This has the following advantages: Only the relevant exchange rates can be maintained Only the relevant quotation can be maintained. The worklist is smaller and therefore clearer. Parallel processing of different worklists is possible.
Exchange rates can be entered as __________ A direct quotation. A indirect quotation. Average quotation.
Name the tools for maintaining the exchange rates: Exchange rate spreads Base currency Inversion Global currency.
In mySAP ERP currencies are defined using Currency keys Document currency transaction currency.
Exchange rate types _________ S: Bank selling rate M: Average rate for posting and clearing G: Buying rate B: Bank selling rate.
Steps to create and use a chart of accounts Define the chart of accounts Define the properties of the chart of accounts Assign the chart of accounts to a company.
The chart of accounts : check the correct answer The chart of accounts is a variant which contains the structure and the basic information about general ledger accounts You define the chart of accounts with a four character ID The chart of accounts contain the length of the G/L account number The chart of accounts must be assigned to only one company code One chart of accounts can be assigned to several company codes The length of the G/L account numbers can be from 1 to 10 digits. You cannot assign a group account number for each G/L account. A chart of accounts that is not yet completed can be blocked so that no company code can use it until it is ready. Every company code must have a chart of accounts assigned to it.
The chart of accounts contains basic information about the accounts. The information for an account is summarized in a chart of accounts segment. It contains______________ Account number Name of the account (as short and as long text) Control fields Consolidation fields document type.
You can translate the chart of accounts into other languages in order to be able
to display the account name in the appropriate logon language when displaying master data and when posting. True False.
If the chart of accounts has not been translated into the appropriate logon language, the account name appears in the maintenance language. True False.
You can define and change the layout of the tab pages for the individual processing of the G/L account master data. You can define: The number of tab pages The title of the tab pages The field groups that you require and their position on the tab pages You can select the layouts for central processing, and processing in the chart of accounts- and company code-specific area.
To use one of the accounts from the assigned chart of accounts in your company code, you must create a company code segment for the account. True False.
The company code segment contains information that refers exclusively to the company code concerned. True False.
The company code segment consists of following groups of fields Control data Bank/interest Information.
The chart of accounts segment consists of following groups of fields Information Translation Description.
The company code segment for the same G/L account can be different depending on the requirements of the company code. True False.
Every company code that wants to use an account from the assigned chart of accounts has to create its own company code segment. True False.
In the chart of accounts segment You have to specify whether the account is a balance sheet or a profit and loss statement account. The lengh of the G/L account.
You cannot select the retained earnings account for each profit and loss statement account. True False.
In the chart of accounts segment you have to specify whether the account is a balance sheet or a profit and loss statement account. True False.
Account Groups for G/L Accounts: check the correct answer Since a chart of accounts contains many different types of accounts, they can
be grouped into different account groups. Usually, one account group groups accounts with the same tasks within the general ledger By assigning a number range to an account group, you can ensure that accounts of the same type are within the same number range. Chart of accounts cannot be grouped into different account groups. You must enter the account group in the chart of accounts segment; it controls the appearance of the company code segment of a G/L account. mySAP ERP delivers predefined account groups.
Each field has one of the following properties Hidden Display Required entry Optional Entry Suppressed.
Fields that are hidden may still contain values that are taken into consideration. True False.
For each field, the field status definitions from the account group and the transaction are taken into consideration and the one with higher priority is used. The priorities are (starting with the highest): Hide - Required entry - Display - Optional entry Hide - Display - Required entry - Optional entry Display - Hide - Required entry - Optional entry Required entry - Optional entry - Display - Hide.
Reconciliation Accounts : check the correct anwser Reconciliation accounts are general ledger accounts assigned to the business partner master records to record all transactions in the sub-ledger. All postings to the subledger accounts are automatically posted to the assigned reconciliation accounts. You define a G/L-account as a reconciliation account by entering one of the following account types in the field Reconciliation Account for Account Type (Accounts Receivable/Accounts Payable) The reconciliation account is only valid for the account type specified. The reconciliation account is valid for the account type specified and non specified account type You cannot post amounts directly to reconciliation accounts. Typical reconciliation accounts are "accounts payable" or "accounts receivable".
The totals of line item postings on the debit or credit side are __________ Transaction figures Transaction key Posting key.
The balance is the difference between the debit and the credit transaction figure. True False.
You should not activate the line item display for: Reconciliation accounts Revenue accounts Material stock accounts Tax accounts G/L accounts.
Accounts with open item management must have line item display activated. True False.
You should use open item management for the following accounts: Bank clearing accounts Clearing accounts for goods receipt/invoice receipt Salary clearing accounts. Reconciliation account.
You can only activate or deactivate open item management if the account has a zero balance. True False.
You can select one of the following currencies as account currency: Local currency Foreign currency Transaction currency.
As standard, the local currency is proposed as the account currency when you create a G/L account True False.
As standard, the __________ is proposed as the account currency when you create a G/L account local currency Foreign currency standard currency document currency.
If the account currency is the local currency, the account can be posted to in any currency. True False.
If the "Only Balances in Local Currency" checkbox is set in the master data record, transaction figures are only managed for amounts converted to the local currency. True False.
Accounts with a foreign currency as the account currency can only be posted to in this foreign currency. True False.
A G/L account consist of which segments? Chart of accounts segment Company code segment Functional area.
The ___________ controls the field display for the company code data in the G/L account master record. Account group Business area Field status.
______________ contain the total of the transaction figures for the
corresponding subledger accounts. Reconciliation accounts G/L accounts Asset account.
Reconciliation accounts are updated on a daily basis False True.
You can always display the line items of a G/L account. False True.
G/L accounts with open item management must have line item display. True False.
G/L accounts that are managed in local currency can only be posted to in this currency. False True.
G/L accounts that are managed in a foreign currency can only be posted to in this foreign currency. True False.
Because the company codes use different operational charts of accounts, you cannot carry out cross-company code controlling. True False.
A complete customer account consists of the following segments: General data at the client level Company code segment Sales area segment Purchasing organization segment.
A complete vendor account consists of the following segments: General data at the client level Company code segment Sales area segment Purchasing organization segment.
The account number is assigned to the customer at the client level. This ensures that the account number for a customer is the same for all company codes and sales areas. True False.
The account number is assigned to the vendor at the client level. This ensures that the account number for a vendor is the same for all company codes and purchasing organizations. True False.
You can prevent the creation of duplicate accounts as follows: Use the matchcode before you create a new account Activate the automatic duplication check.
Line item display and open item management are configured as standard for every
customer/vendor account. True False.
IBAN: check the correct answer International Bank Account Number IBAN were designed by the ISO (International Organization for Standardization) and ECBS (European Committee for Banking Standards) The IBAN contains a maximum of 34 alphanumeric characters and is structured differently in every country International Bank Assign number) You can enter an IBAN as part of the bank details for customer/vendor master data, and in the Customizing settings for your house bank. The IBAN can only be entered in a vendor or customer master record if the business partner provides his or her IBAN and requests the entry. When you enter an IBAN for new bank details, the system can generate the country-specific bank details for certain countries.
In Financial Accounting, once the customer/vendor account has been created, you can no longer change the account group. True False.
Account Groups for Customers/Vendors: check the correct answer When you create customer/vendor master records, enter the account group on the initial screen company code is mandatory when creating Customers/Vendors In Financial Accounting, once the customer/vendor account has been created, you can no longer change the account group. There are separate number ranges for customer and vendor accounts.
Number range: check the correct answer For each number range you can define whether the number assignment is internal or external. Internal numbers are assigned by the system, whereas external numbers are entered by the user who creates the record. External numbers may be alphanumeric. Each number range can be assigned to one or more account groups. Each number range can only be assigned to one account groups. With external number assignment, the user chooses the account number. With external number assignment, the system chooses the account number.
The account group is used to control the fields displayed in the master record. True False.
If a customer is also a vendor, or vice versa You have to enter the vendor account number in the customer account, or vice versa. If clearing is to be used, you have to select the field "Clearing with Vendor" in the customer account or the corresponding field in the vendor account.
Alternative Payer/Payee: check the correct answer At the client and company code level, you can enter an alternative payer/payee. The entry in the company code segment has higher priority than the entry at client level. If you enter an alternative payer, the amount to clear the due open items in the account is paid by the alternative payer. If the alternative payer/payee is an existing customer or vendor, you can enter the customer/vendor account number as permitted payee/payer in the master record.
The customer/vendor accounts must always be maintained centrally. False True.
___________assignment means that the mySAP ERP system assigns the number automatically. Internal number External number.
You maintain a customer/vendor master record ______________if you create the Financial segments at the same time as the Sales order Management/Purchasing Management segments. Centrally De-centrally.
Bank Master Data: check the correct answer Bank master records are stored centrally in the bank directory Every record is identified by the bank country and the bank key. Bank master records include address data and control data, such as the SWIFT Code, postal giro data, and bank group You can display changes to the bank master data for all banks using report RFBKABL0.
Banks that your company uses are defined as ____________ House banks Bank key Bank country.
House banks contains ________ Bank master data Information for electronic payment transactions Bank accounts per house bank G/L accounts per bank account. Clients List.
What use the payment program to determine the bank to be used house bank ID and the bank types Bank key and account ID House bank and Account ID.
Bank master data can be created _______________ When entering bank information in the customer or vendor master record, or in the Customizing for house banks Using the Create Bank transaction in the Accounts Receivable/Payable master data menu The bank directory can be imported from disk Using the lockbox function When creating Company code.
Each bank account is reflected in the SAP ERP system by a combination of house bank ID and account ID house bank ID and bank key Bank key and account ID.
The bank account data contains __________ The number of the account at your bank The account currency The relevant G/L account The account key.
For every bank account, a __________ must be created G/L account Vendor account asset account reconciliation account.
Bank accounts and G/L account have to have the same account currency. True False.
The SAP System works according to the document principle: A document is saved for every posting. A document is parked for every posting. A document is reversed for every posting.
The document remains as a complete unit in the system until it is archived. True False.
Every document is uniquely identified by the following fields: Document number Company code Fiscal year Document type posting key.
Documents in mySAP ERP Financials include the following: A document header Between 2 and 999 line items Between 1 and 999 line items Unlimited line items.
Documents in mySAP ERP have Two important control keys: Document type Posting key currency key.
Document : Check the correct answer The SAP system records at least one document for every business transaction. Each document receives a unique document number. The system or the user can assign the document numbers Only the system can assign the document numbers Only the user can assign the number during document entry A business transaction can create one or more documents.
A business transaction can create one or more documents. True False.
Many business transactions occur in the system for which documents are created, but no accounting document is created because there is no effect for accounting. Purchase order in Materials Vendor/customer invoice Customer payment.
__________ controls the document header and is used to differentiate the business transactions to be posted The document type The posting key The currency The company code.
The standard system is delivered with document types that can be changed or copied. True False.
Document types define the following: Number ranges for document numbers Account types permitted for postings Whether invoices are posted with the net procedure The field status of the document header fields.
Document type ________ allows postings to all account types. AB SA KR DG.
You can copy the intervals of document number ranges from one company code to another, or copy intervals from one fiscal year to another. True False.
Like document types, posting keys are defined at client level. True False.
The posting key specifies the following: Whether the line item is connected to a payment transaction or not. Whether the posting is sales-relevant and the sales figure of the account is to be updated by the transaction If the item is posted as a debit or credit the field status of additional detail Number ranges for document numbers Account types permitted for postings.
In Customizing, mySAP ERP delivers the following default values: For G/L account posting: Debit is posting key 40, credit is posting key 50. For customer invoices: Debit is posting key 01, credit is posting key 50. For vendor invoices: Credit is posting key 31, debit is posting key 40. For G/L account posting: Debit is posting key 50, credit is posting key 40.
The field status Hide cannot be combined with the field status Required entry. This combination causes ________ An error A warning An exit.
What are the most important control functions of the document type? Number ranges for document numbers Account types permitted for postings Posting key.
If the user assigns the document number manually, this is ________ number assignment. External Internal.
_________ numbers may be alphanumeric. External Internal.
Every company code may define its own document types. False True.
Every company code may define its own document number ranges. True False.
At the beginning of a new fiscal year, the system always starts the document number assignment again at the start of the number range. False True.
Document number ranges must not overlap. True False.
You can use one number range for several document types. True False.
How many number ranges can be assigned to a document type simultaneously? 1 2 many.
What are the most important control functions of a posting key? Definition of the account types that can be posted to Account side (debit or credit) Field status of the additional account assignment.
Name 2 elements that influence the field status of document fields Field status group Posting key document type Fiscal year.
What are the standard posting keys for G/L accounts and on which side of the account do they post to? Debit, posting key 40 Credit, posting key 50 Debit, posting key 50 Credit, posting key 40.
____________ group controls the field display during document entry. The field status The document type.
Each general ledger account has a field status group. True False.
The posting period variant is assigned to the ____________ Company code. Fiscal Year Business area.
A posting period variant must contain at least one line with the entry _____________ + A D K M S.
The account range in the posting period variant consists of __________ G/L accounts Customer accounts Vendor accounts.
Posting periods are opened and closed automatically. False True.
No more than two periods can be open at the same time False True.
The authorization group in the posting period variant applies only to authorization for posting in special periods False True.
In tolerance groups you can enter upper limits for the following: Total amount per document Amount per customer/vendor item Cash discount a user with this tolerance group is able to grant Total amount per company code.
In the tolerance groups the currency is the local currency of the company code. True False.
Tolerance groups: Check the correct answer You can create as many tolerance groups as you like. You cannot create as many tolerance groups as you like. Every user can be explicitly assigned to a tolerance group Usually the tolerance group '____' contains values which are meant to apply to most employees. '______' is the default tolerance group If users are not assigned to any special tolerance group, then entries in the tolerance group '_______' are valid for them. For any employees who have especially high or low limits, a special tolerance group should be created and assigned to their user logon IDís.
If you do not define a document type, the system proposes standard document types True False.
List some sources of values that are defaulted by the system for document entry User master records Parameter memory System data Account master record Accounting functions.
User can change documents that have already been posted. True False.
As users make changes to documents, the following information is logged: The field that was changed The new and old values The user who made the change The time and date of the change.
You can differentiate between document change rules according to the following criteria: Company code Account type Transaction class chart of accounts.
The conditions for changing a field are predefined. You can change them as follows: The document is not a credit memo from a down payment The document is not a credit memo for an invoice The line item is either a debit in a customer account or a credit in a vendor account The line item is not yet cleared The posting period is still open The posting period is close.
Name the two possible ways to reverse a document in mySAP ERP Financials. Normal reversal posting Negative posting Posting with clearing.
When you reverse a document, you have to enter a reversal reason True False.
Documents with cleared items cannot be reversed True False.
To reverse documents with cleared items they first have to be ________ Reset save copy.
The reversal reason also controls whether the reversal date is allowed to be different to the original posting date. True False.
What are the prerequisites that must be fulfilled in order to process negative postings? The company code permits negative postings The reversal reason must be defined for negative reversal.
Negative postings can also be used to perform transfer postings of incorrect line items. True False.
Terms of payment are ___________ Assigned to a customer/vendor master record Defaulted by the system or entered by the user Conditions agreed between business partners for the payment of invoices Enable the system to calculate a cash discount and invoice due date.
The day limit is the calendar day to which the terms of payment are valid. True False.
The day limit is ________________ The calendar day to which the terms of payment are valid. Use to store single or multi-part terms of payment The baseline date up to which the payment term version applies.
The account type defines the subledger in which terms of payment can be used True False.
The baseline date is the starting date the system uses to calculate the invoice due date. True False.
You can define several versions of terms of payment, with each version having a different day limit. True False.
To calculate the cash discount You enter a percentage rate in the terms of payment You enter the number of days that the percentage is valid for in the same line You can add fixed days and months You can enter company code.
The following terms of payment require the specification of a day limit: Documents with invoice date up to the 15th of the month are payable on the last day of the following month Documents with a later invoice date are payable on the 15th of the month after.
The system creates a line item for each installment specified. True False.
The cash discount amount : check the correct answer is entered either manually or automatically by the system using the rates in the terms of payment You can still change the cash discount after you post the invoice. You cannot change the cash discount after you post the invoice. When an open item on a customer/vendor account is cleared, the possible cash discount is posted automatically to an account for cash discount expense or cash discount received You define the accounts for cash discount expense or cash discount revenue in the configuration. The cash discount clearing account must be managed on an open item basis. If the invoice is paid after the cash discount deadline, the cash discount loss is posted to a separate account. When you use the net procedure, the cash discount amount is automatically posted when the invoice is posted When the invoice is paid, the system carries out a clearing posting to the cash discount clearing account.
The posting date is the baseline date. True False.
Credit memos can be linked to invoices to ensure that invoice and credit memos are due on the same date. True False.
The day limits are used to store several versions of terms of payment under the same terms of payment key. True False.
The day limits define the dates of the cash discount periods. False True.
Every installment of an installment plan must have its own terms of payment. True False.
The ____________ is the date that the system uses to determine the due date of the invoice. Baseline date Due date document date.
Which cash discount accounts are used in the net procedure? Cash discount clearing account Cash discount loss account Cash discount revenue account Cash discount expense account.
Which cash discount accounts are used in the gross procedure? Cash discount revenue account Cash discount expense account Cash discount clearing account Cash discount loss account.
Name the types of taxation that can be represented in the mySAP ERP system. Taxation at national level Taxation at regional/jurisdictional level Taxes at a city level.
The tax code is used for the calculation procedure required to perform taxation functions on the SAP system True False.
The tax code is used to: Show tax correctly on tax forms Determine the G/L account Verify the tax type Calculate the amount of tax Verify the amount of tax Calculate additional tax portion.
Tax Postings : check the correct answer The taxes calculated by the system are usually posted via a separate line item to a special tax account Taxes with certain transaction/account keys are distributed to the relevant expense/revenue item.
What data is required for the automatic account determination for tax amounts? Posting keys Rules Tax accounts Document type.
All other G/L accounts may have one of the following entries in the ìTax Categoryî field: " " For non tax-relevant postings "-" For postings that require an input tax code "+" For postings that require an output tax code "*" For postings that require any tax code "xx" For postings with the predefined tax code xx.
The properties of the tax code define whether or not the tax posted is an input or an output tax. True False.
A cross-company code transaction involves two or more company codes in one business transaction True False.
_____________must be defined in every company code before a cross-company code transaction may be carried out. Clearing accounts reconciliation account Asset account.
The clearing accounts may be ________________ G/L accounts Customer accounts Vendor accounts Asset account.
____________ must be assigned to the clearing accounts to identify their account types. Posting keys Document type Rules Account type.
When the cross-company code document is posted, the system generates a cross-company code ______________ to link all of the new documents together. Document number Posting date Posting Period.
The document number in the Cross-Company code transaction is a combination ___________ The first company code document number The first company code number The fiscal year The second company code number The second company code document number.
Cross-company code documents cannot be reversed False True.
Examples for cross-company code transactions: Central purchasing Central payment Central management.
A cross-company code transaction consists of at least __________documents. Two four Ten.
Tax amounts of a cross-company code transaction are automatically distributed to the company codes in which the expenses/revenues occurred. False True.
Cross-company code clearing accounts must be G/L accounts False True.
The company codes of a cross-company code transaction may have different local currencies. True False.
Open items need to be __________ for a transaction to be completed Cleared Posted Parked.
_________ are incomplete transactions, such as invoices that have not been paid. Open items Cleared items Line items.
Documents with open items cannot be archived and stay in the system until all open items are ____________ cleared Posted Parked Reversed.
The program groups items from an account together where they have the same entries in the following fields: Document number Reconciliation account number Special G/L indicator Currency.
The automatic clearing program does not clear: Noted items items with withholding tax entries Statistical postings and certain special G/L transactions relating to bills of exchange All items can be cleared.
______ of a line item is automatically filled in accordance with the Sort Field entry in the master record when you post. The assignment field Special G/L indicator Transaction Type.
The assignment field can be a combination of up to 4 fields with a maximum of 18 characters. True False.
Name the basic transactions that you can use to clear open items. Account clearing Post with clearing Down payment Credit memo.
The automatic clearing program (SAPF124) cannot carry out automatic postings False True.
Clearing a credit memo with an open invoice is an example of _____________ Account clearing Posting with clearing.
Posting a payment for an open invoice with a resulting zero balance is an example of _____ Posting with clearing Account clearing.
Several types of tolerances groups exists in FI accounting Client tolerance groups Employee tolerance groups G/L account tolerance groups Customer/vendor tolerance groups.
If the payment difference is too high to be immaterial, it must be processed manually. The payment can be posted as follows Partial payment The payment difference may be posted as a residual item Payment on account The payment difference can be posted to an account assigned to a reason code or written off by manually entering a new posting item.
Reason codes can be assigned to: Difference postings Partial payments Residual items Reconciliation posting.
_________ clears the invoice and the payment to create a new open item. A residual Payment A partial payment.
__________ payment results in the open invoice and the incoming payment remaining in the customer account as open items A partial payment A residual payment.
The system posts the differences automatically to the revenue/expense account for exchange rate differences that you defined during configuration True False.
A single G/L account can be used ______ For all currencies and currency types Per currency Per currency type.
The mySAP ERP system generates the exchange rate differences automatically. True False.
____________must be defined for exchange rate losses or gains G/L accounts Vendor account Customer account.
Setting Up the Cash Journal : check the correct answer The company code in which you want to use the cash journal The four digit cash journal identification and name The G/L accounts to which you want to post the cash journal business transactions The currency in which you want to run the cash journal The document types The account group.
__________ is one of the Enjoy business transactions that you can process on a single screen The cash journal G/L posting Vendor posting.
You can copy and delete cash journal entries saved and display the deleted cash journal entries True False.
When the cash journal document is forwarded to Financial Accounting, only one accounting document is therefore created. True False.
______field can be found in the company code segment of the customer/vendor master record. The Reconciliation account The G/L account The asset account.
_______ transactions are transactions in the accounts receivable and payable, which are displayed separately in the general ledger and the subledgers Transaction type Business transaction Special G/L.
Transactions in the subledgers are linked to the general ledger by the ___________defined in the subledger master record Reconciliation account G/L account Vendor/Customer account.
Special G/L transactions can be divided roughly into three classes: Down payments Bill of exchange Other transactions.
Special General Ledger Types Automatic offsetting entries Free offsetting entries Noted items Transaction type.
_______ are transactions which are always posted on the same offsetting account Automatic offsetting entries Noted items Free offsetting entries.
_________ are part of the financial statements. Automatic offsetting entries Noted items Free offsetting entries.
The special G/L transactions should be defined in the system using special G/L indicators True False.
You cannot use the field status group to change the screen layout for postings entered. False True.
Held documents can be completed and posted or deleted at a later point of time. True False.
Parked documents can be completed, changed, posted or deleted at a later point of time. True False.
Substitutions are not supported by the document parking feature. True False.
The Park Document functions are more effective than the Hold Document functions. True False.
Ways of using document parking Customer accounts (invoices and credit memos) Vendor accounts (invoices and credit memos) G/L accounts (G/L account postings).
You can park documents for Customer accounts Vendor accounts G/L accounts.
What happens when a parked document is posted? The usual inspections are performed when posting documents A normal complete Financial Accounting document is created The document number remains the same. The transaction figures are updated. The parked document is deleted after creating a normal FI document.
The SAP Business Workflow Supports the user actively Coordinates all integrated tasks Works in the same way in all applications Is not tied to a particular application and can be adapted to customer requirements Is a tool for the automation of business processes in SAP systems and between systems.
Benefits of the SAP Business Workflow The SAP Business Workflow supports processes of your company within an SAP system. It also supports the communication between business processes operated on different systems The SAP Business Workflow provides the end user with all information required to perform the next step. SAP provides standard workflow templates in order to depict business processes. You can customize these SAP workflow templates or create your own.
workflow : check the correct answer A company code can be assigned several wokflow variants A task can be assigned one possible processor only. It is possible to design multilevel workflow sequences. The same workflow variant can be assigned to several company codes.
Flow Is a simplified workflow with programs, fork, user decisions and other workflows included as possible tasks True False.
The business process repository contain which of the followings? Configuration guide End user training documentation Scenario documentation Transaction assignments IMG assignment.
Following entries must always be assigned to the account when creating G/L account Account group Short text Balance sheet account or P&L account Company code Chart of accounts.
Each rule is uniquely identified by a combination of Account type Company code Transaction type Rule number Fiscal year.
You can store ____________ dunning level in the customer/vendor master record 1 9 12.
It's possible to dun special G/L transactions True False.
To reduce the number of clearing accounts, you can use only one company code as a clearing company code True False.
When a user makes changes to a document, followings informations are displayed The new and old values The user who made the changes the time and the date of the changes the field that was changed.
The application area is where validation, substitution and rule are used True False.
Customer/vendor master record for all accounts can be display using report RFDABL00 RFKABL00 RFDKBL00.
According to which criteria does the payment program determine and select open items. Baseline date and payment terms Posting date and payment terms baseline date and cash discount Posting date and document date.
Which date is used to determine the exchange rate if the transalation date is not entered? Posting date Baseline date Document date.
If both a validation and substitution have been defined, which has priority? Substitution Validation.
The user cannot change document that have already been posted False True.
Client : Check the correct answer The client is the highest level in the mySAP ERP system hierarchy. Specifications or data that is valid for all organizational units in mySAP ERP applications are entered at the client level. Specifications or data that is valid for all organizational units in mySAP ERP applications are entered at the company code level. Each client is an independent unit with separate master records and a complete set of tables and data. Users must enter a client key and have a user master record in the client in order to log on to the system.
Important organizational units in Financials: Company code Business Area Functional area.
When you define a business area, you only have to enter a four digit alphanumeric key and a short description. True False.
You should only run the country installation program in a new installation of mySAP ERP and not in an upgrade installation. True False.
Specification of the fiscal year variant: check the correct answer The fiscal year variant defines the number of periods and their start and finish dates The fiscal year variant does not specify whether a period is open or closed. The fiscal year variant specify whether a period is open or closed.
A currency key must be assigned to every currency used. True False.
Because inflation can heavily influence the relationship between currencies, translation ratios can be maintained ________________ In real time On a time period basis. every year.
Direct/Indirect Quotation of Exchange Rates In direct quotation, one unit of foreign currency is quoted for the local currency, In indirect quotation, one unit of local currency is quoted for the foreign currency. In indirect quotation, one unit of foreign currency is quoted for the foreign currency.
________________is a variant which contains the structure and the basic information about general ledger accounts. The chart of accounts The company code.
Bank master records are stored centrally in the bank directory True False.
The system provides a function to reverse G/L, customer, and vendor documents both individually or in a mass reversal. True False.
You can enter terms of payment in ____________________________ of a customer/vendor master record. The company code segment The sales area segment The purchasing organization segment.
The terms of payment defaulted when posting an invoice depends on where the invoice is created: If the invoice is created in Financials, the terms of payment from the company code segment are defaulted. If a customer invoice is created in Sales order Management, the terms of payment from the sales area segment are defaulted. When you post the Sales order Management invoice, the terms of payment are copied to the FI invoice If a vendor invoice is created in Purchasing Management, terms of payment from the purchasing organization segment are defaulted. When you post this invoice, the terms of payment are automatically copied to the accounting document.
A block key and payment method defined in terms of payment are defaulted in the line item when the terms of payment are used. True False.
The following terms of payment require the specification of a day limit: Documents with a later invoice date are payable on the 15th of the month after Documents with invoice date up to the 15th of the month are payable on the last day of the following month.
Terms of Payment is a field in the company code and sales area segment of the customer master record. False True.
You can define terms of payment in the company code segment and in the sales area segment of a customer master record. True False.
The system provides support for: Calculate tax amounts Posting to defined tax amounts Performing tax adjustments Tax reporting.
The system supports the treatment of taxes as follows: Checks the tax amount entered or automatically calculates the tax Posts the tax amount to tax accounts. Performs tax adjustments for cash discounts or other forms of deductions.
A manual payment is processed in three steps: Data is entered in the document header. Open items are selected to be cleared. The transaction is saved. The down payment is posted.
In accounting there are three types of tolerances: Employee tolerance groups G/L account tolerance groups Customer/vendor tolerance groups. Visitor tolerance groups.
The employee tolerance group is used to control: Upper limits for posting transactions Permitted payment differences.
The G/L account tolerance group is used to control: Permitted payment differences Upper limits for posting transactions.
The customer/vendor tolerance groups provide specifications for: Clearing transactions Permitted payment differences Posting residual items from payment differences Tolerances for payment advice notes Company code.
Reason codes can be assigned to: Difference postings Partial payments Residual items Down payments.
The numerous purposes of special G/L transactions can be divided into three classes: Down payment request Down payment Bill of exchange payment request Bill of exchange Check/Bill of exchange Individual value adjustments Guarantee of payment Interest User-defined.
Automatic offsetting entries are transactions which are always posted on the same offsetting account True False.
Free offsetting entries are part of the financial statements. They are postings with freely definable offsetting entries. True False.
Down Payment in the Customer Area
The procedure is as follows: The down payment request is posted. The down payment made is entered. The vendor invoice is created. The down payment is cleared. The payment is cleared during the payment of the balance.
The special G/L transactions of the standard system are assigned to the posting 01 09 19 29 39.
In the SAP business workflow, the four process dimensions Organizational structure (Who?) Process structure (When? In what order? Under what circumstances?) Function (What?) Information (With which data?) Company code (Who?).
The SAP business workflow ___________________________________ Is a tool for the automation of business processes in SAP systems and between systems Is not tied to a particular application and can be adapted to customer requirements Works the same way in all applications Coordinates all integrated tasks Supports the user actively.
Inversion is not permitted for exchange rate type M (average rate) True False.
Inversion is not permitted for exchange rate type ____ M G B.
In the new GL accounting, the approaches using parallel ledgers or parallel accounts . Whereas in the classic GL the approaches using parallel accounts. True False.
Parallel ledgers: check the correct answer. No ledger is specified during document entry: posting made to all defined GL ledgers. In the new GL accounting, the approaches using parallel ledgers or parallel accounts . Whereas in the classic GL the approaches using parallel accounts. Many ledgers are specified during document entry.
In the classic GL the approaches using ___________________________ Parallel accounts. Parallel ledgers.
To enter a special G/L transaction, you must enter a special G/L indicator in the line item. The system then posts the line item to a reconciliation account different to the one in the customer master record. True False.
In Financial Accounting, the following functions or valuation reports are affected by parallel accounting: Accruals Currency Translation Value Adjustments Foreign Currency Valuation Reclassification and Sorting of Receivables and Payables Provisions.
To support the closing process, the Closing Cockpit offers the following options Hierarchies A task list template A Task lists A list display A Detailed information A monitor Dependencies.
The organizational hierarchy allows you to organize the closing process according to organizational structures. True False.
Users in the Closing Cockpit (CLOCO) application can access the required transaction or background processing for programs and flow definitions directly from the central interface.
Fours types of task are available: Programs Online transactions Note Flow definition Company code.
The monitor shows you the processing status of the tasks: Blue Yellow White Red Gray Green.
You can navigate directly to the detail list for a task at any time, where you can immediately check or process: The spool request The batch input session The job log.
Closing Cockpit: Procedure 1 2 3 4 5 6.