Sap fi (first manual)

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Title of test:
Sap fi (first manual)

Description:
TFIN50

Author:
Umair Talat
(Other tests from this author)

Creation Date:
10/11/2009

Category:
Computers
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Last comments
samrat3112 ( uploaded 6 years )
;
pathetic english...almost impossible to understand what is asked for..please improve the english.

AND

What is 'CLIENT PORTION' of a 'COMPANY CODE'? Can anyone please explain?
Answer
Content:
A business area is The legal unit of consolidation to which company codes is assigned. The organization entity for which balance sheets as well as profit & loss statements can be executed across company codes covering a companys main areas of operation. The smallest organization unit for which a complete self-contained set of books can be executed. Identifies an independent organizational structure within a company, which includes all functions, required for internal cost and revenue accounting.
Which chart of accounts is always required Group chart of accounts. Country chart of accounts. Operating chart of accounts. Alternate chart of accounts.
Define G/L account group The GL account group is a classifying feature for general ledger master records. The account group only determines in which number interval the GL account number must reside. The account group determines the fields for data entry screens if you create or change a master record in a company code. The account group also determines in which number interval the GL account number must reside.
How many levels the GL account master record have and what are they? 3 Levels client, chart of account 2 Levels company code and client level. 2 Levels company code and chart of account level. 1 Level GL master record.
The reconciliation account: One or more is correct. Ensures real-time integration of sub ledger account with the general ledger. Itself is not designed for direct posting. Is defined on the client portion of the company code. Can be defined for customer, vendor and asset account types.
Vendor specific information such as reconciliation acct. and item sorting is stored at what level? Company code. Customer master record. Client. Account group.
What determines whether the vendor account is one-time? The posting keys. Document type. Field Status. Account group.
Bank master data records can also be manually: One or more is correct. When defining house bank. At one-time(account) document entry. In the account ID. On the general data section of customer & vendor masters.
What are examples of currency types? One or more is correct. User currency. Global currency. Hard currency. Index currency.
The accounting document: One or more is correct. The header section contains data relevant for the management of whole document, such as document number, posting date, company code, currency and document text. Each line item would contain an account, an amount and other relevant posting information. An accounting document must contain at leas 1 line item. The debits and credits are not required to balance to zero before posting is permitted.
Define posting keys ? One or more is correct. The posting key also specifies the specific account type for a line item. Determines whether the vendor account is one-time. Identifies which of the account types will be permitted on a particular document. Helps control the field status of a line item.
A document can only be reversed if: One or more is correct. The original document contains only customer, vendor and G/L line items. The original document contains no cleared line items, if the document does contain cleared items, then these items must be reset before reversal can take place. All specified values (such as, cost center) are not still valid. The original document was posted in FI system or originating in other modules.
The currency that was input on the header of document: Company code currency. Transaction currency. Additional currency. Local currency.
Which of the following are controlled by the posting period variant ? One or more is correct. The ranger of periods that is currently open for processing. Only one period ranger can be open at the same time The ranger of accounts within a specific account type that is currently open for processing. The specific user authorization necessary to book entries within a specific period.
The tax code is used for what? One or more is correct. Verify the amount of tax. Calculate the amount of tax. Verify the account type. Determine the G/L account.
All reconciliation accounts and all G/L accounts with open item transactions in foreign currency must be assigned to the G/L account for realized losses and gains. Which of the following options exist for this assignment: One or more is correct. A single G/L account can be used for all currencies and currency types. A single G/L account can not be used per currencies and currency types. A single G/L account can be used per currency. A single G/L account can not be used per currency type.
The user can clear open items of A/R, A/P and G/L accounts with the automatic clearing program. The program groups items together from an account which have the same: One or more is correct. Reconciliation account number. Document number. Currency. Special G/L indicator.
Payment differences that fall outside defined limits : One or more is correct. When posting a residual item, you require a payment term. You can transfer the payment term from the original invoice or default a separate payment term Grant only cash discount for the portion paid. The remaining discount can only be granted once the outstanding receivable has been paid off in full, within the due date. Limit the possible dunning levels.
What are the ways to clear open items within an account? One or more is correct. Down payment transaction Account clearing Posting with clearing Reversing documents.
Choose the correct statements regarding the document, posting, and entry dates of accounting documents. Note! More than one answer is correct. The posting period is determined by the document date. The document date must be the same as the invoice date. The posting date must be the same as the entry date. The posting period is determined by the posting date. The entry date is the same as the operating systems date.
In payment terms we specify Cash discount amount Default for baseline date Payment block Payment terms Cash Discount %.
Select the incorrect statements Invoice can be paid over several months using installment payment One payment term can comprise of several payment term Invoice can be posted with gross procedure only Only customer invoice can be posted net procedure as well as gross procedure cash discount.
Tax on Sales/Purchases Tax category must be assigned to GL master for all type of accounts * Tax category means all types of Taxes are allowed - Tax category means output tax types are allowed < use for input tax account > use for output tax account.
Cross company code Transaction For cross company code transaction no configuration needs to be maintained Cross company code document Transaction number contain company code of second company number, document number of first company code and fiscal year. All wrong.
Clearing open item Open items clearing can only be done through account clearing Open items clearing can be done through post with clearing Automatic payment is an example of clearing open items Clearing documents can have more than 2 line items Clearing document can have no line items.
cash journal is a tool for managing cash supports posting receipts and payments create a seperate cash journal for each currency post to customer and vendor accounts only post to customer, vendor and G/L accounts only each company code has one cash journal.
cash journal identification is a 4 digit alphanumeric key true false.
to set up a new cash journal which fields need to be filled company code 4 digit identification G/L accounts currency chart of accounts document types.
match business transaction types expense revenue from cash journal to bank from bank to cash journal accounts recievable accounts payable.
you cannot define new business transactions for cash journal true false.
new business transactions for cash journal can be defined in cash journal itself IMG.
cash journal is one of enjoy business transactions true false.
posting business transactions in cash journal you can save cash journal entries locally in cash journal subledger copy your entries delete your entries print your entries display deleted entries.
cash journal: document split you can enter a cash journal document with a split documents can contain several items with different tax codes when cash journal document is forwarded to financial accounting only one document is created.
copying an existing company code copies definition global parameters customising tables G/L accounts (if desired) Account determination.
you have to select a four digit alphanumeric key as company code key true false.
while defining business area enter a 4 digit alphanumeric key short description both are correct.
what copies country specific tables from country template to company code company code 0001 country installation program chart of accounts INT.
which is an independent/balancing entity client company code business area.
a year independent fiscal year variant can be defined as calendar year non-calendar year shortened fiscal year.
you define posting periods by assigning end dates to each period start dates to each period.
you can use one tool for each exchange rate type, different rules for each exchange rate type true false.
for each currency pair you can define either direct quotation or indirect quotation as standard notation for exchange rate true false.
which exchange rate tool is oldest and seldom used today inversion base currency exchange rate spreads.
Reconciliation Accounts : One or more is correct. Transactions in the sub-ledgers are also posted on the reconciliation accounts in the general ledger. The aim of reconciliation account is to have the values available in form of totals as well in the general ledger in order to be able to quickly create a financial/income statement. The balances of the reconciliation accounts can not be [can be] directly displayed instead of having to search for the values in the sub-ledger, to determine the payables/receivables. The reconciliation account to be posted to is entered in each customer/vendor master record. The reconciliation account field can be found in the company code segment of the customer/vendor master record. The account number of the reconciliation account posted to can be seen on FI document. The transaction figures are not [are] updated on the reconciliation account in concern. Without the special main ledger indicator it is not possible to pass on documents for individual items to a reconciliation account.
The posting are performed on alternative reconciliation accounts to allow the transactions to be able to be displayed separately, if general-ledger [sub-ledger] account assignments are made using a special G/L indicator. true false.
Special G/L transactions are transactions in the accounts receivable and payable, which are displayed separately in the general ledger and the sub-ledgers. true false.
How many classes special general ledger have? One or more is correct. Bill of exchange Noted Item Down payments Free Offsetting Entry Other transactions.
One or more is correct. The functions of the special G/L transactions are used for the most different of business transactions. Options for processing bills of exchange are unavailable [available] in the standard menus for the accounts receivable and payable. Most of the different business transactions are controlled by means of the other option in the document entry menu in accounts receivable and payable. The processing of down payments is integrated in the dunning and payment programs. The dunning and payment programs can not [can] access noted items for further processing.
How many ways of transferring special general ledger entries to the system? One or more is correct. Automatic offsetting entry Down payments Noted Item Other transactions Free Offsetting Entry.
Choose the correct answer : One or more is correct. Free offsetting entries are part of the financial statements. The G/L account must be entered by the user for the offsetting entry. Noted items are individual account assignments which are only used to remind the respective department of due payments or payments to be made and are [not] intended to be displayed in the general ledger. Free offsetting entries are postings with freely definable offsetting entries, like the bank posting of a received down payment. Automatic offsetting entries are transactions which are always posted on the different [same] offsetting account and usually included in the notes to financial statements. Noted items are not [are] administered as open items in the accounts payable/receivable and the special G/L account. Whenever a noted item is created only one line item is updated.
The procedure of down payments in the customer area: One or more is correct. 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.
What are correct in context of Bills of Exchange? One or more is correct. If an invoice is paid with a bill of exchange, the payment period is not [is] extended for your customers. Bills of exchange are treated like special G/L transactions in the SAP system and a type of long-term [short-term] financing. Bills of exchange transactions are automatically recorded in the sub-ledger, separately from other transactions, and posted to a special G/L account. You can post receivable and payable bills of exchange and incoming and outgoing checks and bills of exchange.
Configuration of Special G/L Transactions: One or more is correct. Special G/L transactions are posted from the customizing [application] side by means of special posting keys and using special G/L indicators. The special G/L transactions of the standard system are assigned to the posting keys 09,19, 29 and 39. The special G/L indicator indicates that the posting key is used to enter special G/L transactions. In special G/L entry the special G/L indicator should always be included.
Special G/L transactions are posted to an account stored in customizing and not to the reconciliation account stored in the master record. true false.
Special General Ledger Account Control: One or more is correct. The special G/L accounts have been defined as reconciliation accounts for the D or K account assignment object [types]. As same [opposed] to normal reconciliation accounts, in general, special G/L accounts have the line item display activated. You can use the field status group to change the screen layout for postings entered. Special G/L transactions are part of the scope of delivery of the standard system.
You can make individual adjustments if you, for example, wish to make changes in the following areas: One or more is correct. Different account numbers for reconciliation accounts or special G/L accounts. Other posting keys or G/L indicators for collective [individual] transactions. Other settings for the automatic postings, including the accounts to be posted to, posting keys and rules for account assignments without [with] automatic postings.
Special G/L indicator & Account Type? One or more is correct. A particular configuration of the special G/L transactions is defined by the special G/L indicator which determines the type of transaction and the account type (customer or vendor account). The account type is important since customer and vendor down payments, for example, are configured together [separately]. The characteristics of each special G/L indicator are defined in connection with the account type under properties.
Sp. G/L Transactions Definition of properties and accounts: One or more is correct. You can determine that a special G/L transaction are [does not] update any account balances. You can include special G/L transactions in the credit limit check for vendors [customers]. You can determine that the user is notified by a warning message about the existence of a special G/L transaction when posting to a customer or vendor account. For line items, you can set which special G/L indicators are allowed to be added as target special G/L indicator is used in the standard system for down payment requests. The special G/L transaction class determines whether the transaction is a down payment, a bill of exchange or any other type of transaction. The alternative special G/L account which is to be selected when using special G/L indicators is stored separately in the account determination according to the chart of accounts. .
Configuration of Special G/L Types: One or more is correct. Statistical postings are always made on the different [same] offsetting account. When setting up several special G/L transactions, you can take advantage of all of their technical features. To set up a special G/L transaction with automatic offsetting entry, do not only store an alternative special G/L account for the selected special G/L indicator, but also a clearing account in the table for accounts for automatic postings. An alternative G/L account should be stored for the selected special G/L indicator and the offsetting account is entered manually during the transaction.
What are the ways of saving documents (without performing proper financial account posting): One or more is correct. holding parking.
Hold / Park Document: One or more is correct With park [hold] document, data which has been entered can be saved temporarily in order to continue the entries at a later time. No account balances are updated and the data of the document is not available for evaluation in park [hold] document. No document number is assigned in case of hold document. Documents held by the system do not have to be complete. Park [Held] documents can be completed and posted or deleted at a later point of time.
Hold / Park Document? One or more is correct. Held [Parked] documents which are no longer required should be deleted to provide a better overview. Substitutions are not supported by the document parking feature. Substitutions can only by made with posting transactions after turning parked documents into accounting documents. In hold [park] document, responsibilities can be clearly defined and displayed by means of authorizations The hold [park] document functions are more effective than the park [hold] document function. .
Choose the correct statements regarding the additional park document functions: Note! One or more is correct. Displaying authorizations, approval. Principle of dual control. Responsibilities. Acceleration of work procedures.
You can enter and store incomplete documents in SAP without have to check the entries extensively by holding [parking] the documents. Account assignment templates can be used, and as [but not] reference documents, when parking documents. Cross-company-code transaction can also be hold [parked]. Only one hold [parked] document is created in the initial company code for cross company code transactions. Neither transaction figures, asset values, etc. nor control totals are updated when securing hold [parked] documents. Documents which have been parked in the system usually have to be further processed. Hold [Parked] documents should only be deleted in exceptions.
Areas of application for document parking : One or more is correct. Temporary storage of input values when parking documents. Helpful for displaying multi-level models when parking documents. Work assignment by means of work lists.
Ways of using document parking : One or more is correct. Customer account [invoices and credit memos] Vendor accounts [invoices and credit memos] G/L accounts [G/L account postings].
You can Display Park Document by the following ways: Note! One or more is correct. Individually. Via list selection. Via list selection; also possible with the line item list.
Editing Park Document: Note! One or more is correct. a.You can edit parked documents and also complete them step-by step. A number of harder and item fields can be edited, excluding [including] the amounts. The document change rules stored for documents posted in the system are [not] applied to parking documents. The currency, the document type/number and the company code can [cannot] be changed. Changes cannot [can] be made as often as required and multiple changes are also possible. Dates, amounts, accounts and account assignment objects can all be changeable. Changes can be made to individual documents but not individual items, to several documents by means of lists or with the line item list.
Posting parked documents : One or more is correct. a.You can post parked documents as standard transactions individually or via a selections list. If you post several documents individually [via a selection list], the system subsequently issues a list, indicating whether the documents have been posted successfully. Parked documents which were unable to be posted, due to missing entries such as cost account assignments, cannot [can] be post-processed in the list. A batch input session can be created in order to post parked documents.
What happens when a parked document is turned into a proper document? One or more is correct The usual inspections are performed when posting documents. Abnormal incomplete [a normal complete] Financial Accounting document is created. History not maintained [is documented]. The document number changed [remains the same]. The transaction figures are not [are] updated. The parked document is not [is] deleted after creating a normal FI document.
Document parking reporting and overview: One or more is correct. Document parking is linked to the account display and reporting functions in Financial Accounting. Many reports contain options for listing previously parked documents. Changes to parked documents possible in accordance with the document change rules while taking GoB into account. .
A document number is assigned by means of the document type with Hold Document function. true false.
You can include parked documents in the document journal as well as you can view parked documents on the line item display. true false.
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