TFIN50 PART 1 UNIT 5

INFO
STADISTICS
RECORDS
Title of test:
TFIN50 PART 1 UNIT 5

Description:
CLEARING

Author:
MPR
(Other tests from this author)

Creation Date:
07/04/2014

Category:
Others
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Content:
pick the correct one(s) Open items are incomplete transactions A transaction is cleared as soon as posting is carried out documents with open items can be archived and cleared later.
way in which open items are cleared posting with clearing account clearing statistical posting transfer posting.
when payment is assigned to an invoice it is posting with clearing account clearing.
when payment is cleared with a related credit memo or payment on account it is account clearing payment with clearing.
clearing transaction always creates a ____________document.
account clearing is also called________clearing.
posting with clearing can be carried out simultaneously for several accounts several account types several company codes several currency.
post with clearing is carried out using automatic payment program only T F.
if total amount of open item selected is not equal to clearing amount clearing does not take place difference posted.
in account clearing, posting is not required T F.
in posting clearing, we select the open item manually and clear the items T F.
in account clearing,we select those open item from an account that balances to zero and clear it T F.
manual clearing can take place in bank sub accounts debit memo procedures vendor making a repayment vendor clearing an open invoice.
clear account function is used in post with clearing procedure T F.
Manual clearing can be performed manually or automatically T F.
we can clear open items for general and sub ledger accounts with automatic clearing program T F.
Grouping of items for automatic clearing program is based on following fields reconcilation account number currency spl g/l indicator assignment field company code reference number noted items.
automatic clearing program can be carried out for all the accounts with open items T F.
automatic clearing program does not clear noted items statistical posting down payments withholding tax entries.
system automatically fills the assignment field for a line item according to company code sort field currency reconcilation account.
assignment field can be combination of up to 4 to 18 characters 2 to 12 characters 6 to 24 characters 6 to 10 characters.
two fields make up the assignment field definition document date and document number company code and posting date posting date and document number company code and document date.
documents with open items cannot be archived because open items represent incomplete transactions T F.
Automatic clearing program cannot carryout automatic postings t f.
posting a payment for an open invoice is account clearing T F.
payment header of clearing payment screen consists of following fields document date posting date document type company code value date reference text currency.
bank data section of the clearing payment screen consists of following fields bank account amount bank charges posting date value date text assignment number customer/vendor account.
open item selection data section of the clearing payment screen contains customer/vendor account and type normal open items selection spl g/l selection other accounts selection additional selection.
we can post the document if the amount entered is the same as amount assigned T F.
Cash discount assignment while clearing payments cash discount granted it used to determine terms of payment of line item cash discount is taken for calculating amount assigned we cannot change cash discount already assigned to the line item cash discount can exceed the limit set in tolerances.
cleared items cannot be recalled F T.
if we reset a clearing document it becomes reversed item cleared item open item partial item.
if we reset and reverse a clearing document it becomes open item cleared item residual item partial item reversed item.
three types of tolerance group are employees,g/l accounts,customer and vendor accounts T F.
Tolerance group mainly define premitted payment differences T F.
tolerance group is assigned to user master data g/l account master data company code data customer/vendor master data.
tolerance group is defined by a group key company code currency code document number fiscal year.
permitted payment difference can be dealt with cash discount adjustment unauthorised customer deductions tax account adjustment authorised customer deductions.
payment difference can be posted if the difference is too large for clearing T F.
cash discount adjustment or unauthorised deduction can be carried if the tolerance is outside the limit T F.
Manual processing of payment difference is carried out if tolerance is within the limit T F.
ways to post a payment difference outside the tolerance limit Partial Payment Residual payment posted with reason code payment on account posted without reason code and written off cash discount adjustment authorised deductions.
partial payment is leads to original document remain open original document is cleared new document is created.
post payment difference as residual item all document cleared all document remain open residual item remain open original document cleared.
upon residual payment following needs to be defined terms of payment for balance payment cash discount basis for balance payment dunning key,level for balance payment.
______________are used to describe the reason for the payment difference.
reason code can be assigned to difference postings partial payment residual items.
reason code functions are control payment notice control residual item posting to normal and spl g/l accounts control credit limit checks.
system generates exchange rate differences automatically T F.
G/L accounts must be defined for exchange rate losses or gains T F.
True or false One exchange rate loss/ gain account can be assigned to all or per currency and type Each currency or type can be assigned seperate exchange rate account.
When an open item is already valuated before clearing, there is no need to valuate it again during clearing. T F.
following accounts are assigned exchange rate gain/loss account G/L Account in foreign currency reconcilation account in foreign currency G/L account in local currency with open items in foreign currency reconcilation account in local currency with open items in foreing currency.
if payment difference is outside the cash discount adjustment limit system checks for unauthorised deduction limits post the payment as residual item post the payment as partial payment.
steps in payment difference 1 2 3 4 5.
manual or automatic processing Automatic manual.
Payment difference Within tolerance and outside tolerance Within tolerance Outside tolerance.
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