Sap fi tfin50_2 unit-12(receivables and payables)

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Title of test:
Sap fi tfin50_2 unit-12(receivables and payables)

Description:
Balance confirmations,value adjustments,regrouping

Author:
Prashanthi
(Other tests from this author)

Creation Date:
22/06/2010

Category:
Others
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Content:
Overview of customer account closing activities contain...... send Balance confirmations and evaulate response Valuate foreign currencies Value Adjustments regrouping of receivables and payables.
The program for creating ---------------------------- automatically creates balance confirmations (including reply slips) for a freely definable number of customers and vendors, as well as a reconciliation list and a results table.
Which of the following are are true according to the balance confirmations. The program for creating balance confirmation automatically creates balance confirmations (including reply slips) for a freely definable number of customers and vendors, as well as a reconciliation list and a results table. The balance confirmations and reply slips are sent to the customers or vendors and the lists forwarded to a control center The customers or vendors check the balance information they receive and send their reply to the control center the replies are compared with the reconciliation list and the results entered in the results table.
Reports ----------- and ------------create correspondence to and from your customers and vendors to enable you to check the balance of receivables and payables.
For each company code, the reports output a checklist and an error list. True False.
can also create a results list to evaluate the replies. For eg we can include the number of replies received and the total amount contained in the replies received. True False.
you can use the reports to print reminders for overdue balance confirmations and inquiries. To do so, enter the customers concerned in addition to the ?old? issue date and ?old? reply date on the selection screen. True False.
Foreign currency open items and balance sheet accounts must be valuated on the basis of various business-related and legal criteria True False.
The valuation includes the following accounts and items: Foreign currency balance sheet accounts, that is, G/L accounts that you manage in a foreign currency Open items (customers, vendors, G/L accounts) posted in foreign currency (the line items are valuated).
Report -------------- valuates open items in foreign currency as well as foreign currency balance sheet accounts.
In order to carry out a foreign currency valuation, you have to make certain settings in Customizing: Check your currency Customizing Define your valuation methods(for eg lowest value principle) Define expense and revenue accounts for exchange rate differences from the valuation. must also specify balance sheet adjustment accounts for receivables and payables accounts.
A ------------------------------- is necessary if vendor accounts contain open items in a foreign currency.
The ?Balance sheet preparation valuation? indicator of the SAPF100 program determines whether or not open items will be updated True False.
Exchange rate differences that are not realized as valuation differences during payment clearing are posted as an exchange rate translation True False.
For each valuation method,we have to define the following Parameters for the valuation procedure Parameters for exchange rate determination.
In SAP, the strict lowest value principle means that write-ups are not allowed. True False.
Pushbutton ?Balance Valuation?:Only relevant when using strictest or lowest valuation principle and If you want to valuate debit items, you must set this indicator. True False.
To carry out foreign currency valuations in accounts managed on an open item basis, you define account entries for: Valuated exchange rate gains and losses for each reconciliation account in subledger accounts. True False.
The system posts the account entries for realized exchange rate differences in foreign currency during the open item clearing True False.
If new transactions have been posted to the account since the last valuation run, these are valuated during the current run. True False.
Depending on the valuation method used and the balance of the foreign currency balance sheet account, you may end up devaluing or revaluing your accounts. True False.
Exchange rate differences in foreign currency balance sheet accounts are posted to various gains and losses accounts based on the ?------------------------------? that you enter in the G/L account master record. exchange rate difference key excahnge difference account.
what are options that are available for creating value adjustments for receivables: individual value adjustments (IVA) as a special G/L transaction E. the program SAPF107 ?Additional valuations? to carry out a flat-rate individual value adjustment. Expense from flat-rate value adjustment to value adjustment. .
what are the statements that true according to the Individual Value Adjustment for Doubtful Receivables Doubtful receivables are written off as an individual value adjustment (IVA) during year-end closing. The special general ledger method is suitable for this procedure since the transaction is entered in the customer account and is also ?posted? to a special G/L account, Individual Value Adjustments for Receivables. Use the tax code that represents a tax rate of zero percent for the posting. After you have ascertained that the debt is irrecoverable or that the receivable has been paid, the individual value adjustment is reversed. If the debt is irrecoverable,the receivable is cleared from the customer account and the amount is posted to the account for depreciation of receivables.
Which of the following statements are true according to the Flat-Rate Individual Value Adjustment of Overdue Receivables In Accounts Receivable configuration, you define the debit rate percentage (bad debt expense percentage) for a valuation adjustment key and an overdue time period in days. You must also set up the appropriate adjustment and bad debt expense accounts for doubtful receivables in the account determination table You assign the valuation adjustment key to the master record of any customer account that you want to include in the flat-rate individual value adjustment posting. Periodically, you carry out a valuation run to calculate the bad debt expense posting for overdue items. The valuation run produces a valuation proposal that you can manually change, if desired.
To provide outsiders with a better overview of the company's liquidity situation, the receivables and payables must be grouped in the balance sheet according to remaining life. True False.
Regroupings are carried out using a special program. At the same time, these regroupings are removed for the first day of the next period, since regrouping are not necessary for daily processing. True False.
The report SAPF101 has the following functions.... It sorts receivables and payables according to remaining life and makes the transfer postings required. It makes the required adjustment postings (for example, for changed reconciliation accounts) To determine where transfer postings are required.
The balance of an account determines whether the system displays it as a receivable or payable. True False.
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