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ERASED TEST, YOU MAY BE INTERESTED ONTS4F01- S4 HANA Finance Part1-UNIT6

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Title of test:
TS4F01- S4 HANA Finance Part1-UNIT6

Description:
Financial Document Clearing

Author:
AVATAR
Rankanidhi Panigrahy
(Other tests from this author)


Creation Date:
25/02/2019

Category:
Others

Number of questions: 34
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Content:
You can archive documents with open items True False.
A post with clearing transaction can be performed either manually or automatically using the automatic payment program and the automatic clearing program. True False.
Each cleared item contains the following information: Clearing document number Clearing date Clearing Company Code.
SAP S/4HANA provides -types of transactions for clearing open items account clearing post with clearing.
Steps in Clearing Program Group Item for each accounts If account is ZERO item is marked for clearing User Criteria must be defined in Customizing Accounts to be clear must be defined for automatic clearing.
The automatic clearing program groups items within an account that have the same entries in the following fields Company code Account type Account number Reconciliation account number Currency Special general ledger indicator.
The automatic clearing program does not clear the following items: Noted items Statistical postings and certain special general ledger transactions relating to bills of exchange Normal Item Down payments Items with withholding tax entries.
SAP S4/HANA fills the Assignment field automatically for a line item when you post items according to the ------ field entry in the master record. Predefined fields Sort Reference.
What can be assigned to assignment filed with sort key Document Date PO Number Cost Centre Vendor Invoice Number Sales Order Delivery Billing Document.
You can reset clearing for individual documents. When you reset clearing, SAP S/4HANA does not removes the clearing data from the line items because it required for future reference, True False.
In accounting, tolerances are divided into the following groups Employee tolerance groups G/L account tolerance groups Customer or vendor tolerance groups Asset account tolerance groups.
The employee tolerance group controls the following factors: Upper limits for posting transactions Permitted payment differences.
The customer or vendor tolerance groups provide specifications for the following procedures: Clearing transactions Handling permitted payment differences Posting residual items from payment differences Identifying tolerances for payment advice notes.
The entries in the tolerance groups are always in the Document currency False True.
If you want to define different tolerances for employees, specify the amount limits for each employee group. If you have defined differing tolerance groups, you have to assign employees to a specific tolerance group by selecting the activity “assign users to tolerance group”. This is where you enter the employees in the relevant group by giving special tolerances to a group so that the employees in this group are authorized to adjust the cash discount up to the limit prescribed in the tolerance group. True False.
Post the payment difference as a residual item The original document and the payment are cleared. SAP S/4HANA creates a new document number with reference to the original documents. All the documents remain in the account as open items.
You can use reason codes to describe the reason for the payment difference. To assign more than one reason code to a payment difference, choose Distribute Difference . Reason codes can be assigned to the following items: Difference postings Partial payments Residual items.
When open items are cleared in a foreign currency, exchange rate differences may occur. This happens due to fluctuations in exchange rates False True.
Exchange rate differences are also posted when open items are evaluated for financial statements.The exchange rate profit or loss is posted to a separate expense or revenue account for exchange rate differences as an offsetting posting. True False.
When clearing an open item that has already been evaluated, SAP S/4HANA (FI) reverses the balance sheet correction account and then posts the remaining exchange rate difference to the account for realized exchange rate differences True False.
You can assign one gain or loss account to the following currencies and currency types: All currencies and currency types Per currency and currency type Per currency Per currency type.
An example of an open item is an incomplete business transaction, such as an invoice that has not been paid. True False.
A clearing transaction always creates a clearing document. True False.
The Clear Account transaction can be performed manually or automatically using the clearing program True false.
It is possible to archive documents that have open items False True.
Cleared items contain which of the following pieces of information? Clearing document number Clearing date Due date Archival information.
With the automatic clearing program, a user can clear open items for which of the following items? General ledger Currency Special general ledger indicator Subledger accounts.
When you perform a manual payment process, you can overwrite the cash discount amount True False.
The assignment field can be a combination of up to six fields with a maximum of 10 characters. False True.
When you reset clearing, SAP S/4HANA removes the clearing data from the line items. True False.
If the payment difference is too high to be immaterial, you must manually process it True False.
You must assign a revenue or expense account to all reconciliation accounts and all general ledger accounts with open item transactions in foreign currency. True False.
S/4HANA references the following information when calculating post charges for ---Incoming Payments The application adds the bank charges to the payment amount to form the clearing amount. The application subtracts the bank charges from the payment amount to determine the clearing amount.
Processing Payment Difference- With in defined tolerance Outside of tolerance.
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