To determine the payables/Receivables, the balances of the reconcilliation accounts can be directly displayed instead of having to search for the values in the sub ledger. True False.
The reconcilliation account to be posted to is entered in each customer/vendor master record. True Fase.
The Reconciliation Account fied can be fount in the company code segemtn of the customer /Vendor maste record. True False.
Spl. GL transactions are transactions in the accouts Receivable / payable, which are displayed seperately in the general ledger and sub-ledgers. True False.
Down payments are figured in the balance sheet together with receivables and payables for goods and services. True False.
Transactions in the sub-ledgers are linked to the general ledger by the reconciliation account defined in the sub-ledger master record. True False.
If sub-ledger account assignment are made using a special GL indicator, the postings are performed on alternative reconciliation accounts to allow these transactions to be able to be displayed separately. True False.
Special Gl transactions can be divided into- Down payments Bill of exchange Other Transactions None of option is correct.
Types of Special general ledger Types. Automatic offsetting enteries (Statistical) Noted Items Free Offsetting entries Free offsetting statistical entries.
Automatic offsetting entries are always made on the same offsetting account. True False.
Automatic Offsetting posting entries are usually included in the notes ot financial statements. True False.
Example of Automatic offsettting entry is Posting of a gaurentee of payment. True False.
Noted items are not intended to be displayed in the general ledger. True False.
Noted items are individual account assignments which are only used to remind the respective department of due payments or payments to be made. True False.
Free offsetting entries are part of the financial statements. They are postings with freely dfinable offsetting entries. True False.
Example of noted item is a Down payment request. True False.
Example of free offsetting entry is the bank posting of received down payment. True False.
If we clear open items in the respective account, the system also automatically clears the respective items in the offsetting account. True False.
The system automatically makes offsetting entries. True False.
The automatic offsetting entries are called statistical postings, since they are generally either not displayed in teh financial statements or only in the notes to the financial statements. True False.
Gaurentees o fpayment made are displayed in the appendix, but not the gaurentee recieved. True False.
You agree with a customer to guarentee for an amount of 10,000 and conseqently accept that you can be made liable for this amount. Your liability is displayed on the customer account and on the special GL account "Gaurentees of payment made".
The automatic offsetting entries are made on the clearing account for the gaurentees of payment made. True False.
The guarentee of payment is cancelled once we are no longer liable. True False.
Only one line item is update if a noted item is created. No offsetting entry is made. That is why no Zero balance check is made. True False.
The APP and dunning programs can access noted items for further processing. True False.
Noted items are administered as open items in accounts payable / accounts receivable. so we need to always activate line item display for these accounts. True False.
Example of Noted items are Down payment request and Bill of exchange requests. True False.
For noted items the special GL account posted to always displays a balance of zero. True False.
The special GL transactions defined as free offsettng entries create a proper posting in the general ledger. the alternative reconciliation account is debited or credited automatically, depending on the type of posting. True false.
The SAP system registers the incoming payment both in the subledger account of customers as well as in the alternative reconciliation account of the general ledger. True False.
Disputed or doubtful receivables are entered as individual value adjustments when preparing the balance statemnts for year-end closing. The special general ledger procedure is suitable here, since the transaction is entered in the customer account as well as posted to the special GL account, "Individual Adjustments for Receivables". True False.
The special GL transactions are psted from the application side by means of special posting keys and using special Gl indicator. True False.
The posting keys used for special Gl transactions. 09 19 29 39 None.
Special GL accounts are managed with line item display. True False.
Choose the correct answe related to Noted items Special GL type. Your cannot create your own special Gl indicators of this type. The account for the offsetting posting is allocated automatically. No posting is made to an Offsetting account. A posting is made to an alternative reconciliation account. The noted item dies not replace a "real" FI document.