Ans: Client
|
Operating Concern
|
Controlling area1 Controlling Area 2
|
Co. Code 1 Co. Code 2
|
Bus area 1 Bus area2 Bus Area3 Bus Area 4
2. How many Normal and Special periods will be there
in fiscal year, why do u use special periods?
Ans: 12 Normal posting period and 4 special periods are
in the fiscal year which can be used for posting tax and audit adjustments
to a closed fiscal year.
3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based
on a/c types considering GL Accounts. Tr. Code. OB52.
4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
Name of the company
City
Country
Currency
Language
Address
5.What is document type, and what does it control?
Examples.
Ans: Document type is nothing vouchers containing line
items. Several business transac! tions can be identified within a particular
document type.
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document
6. What is posting key and what does it control?
Ans: These are special classification keys. Two character
numerical key it controls the entry of line items.
Posting key determines Account type, Debit/credit posting,
Field status of transaction.
7. What is field status group, what does it control?
Ans: FSG is mandatory field in ! GL Creation. You use
this field to define which fields are displayed when you post business
transactions to a G/L account.
A field may have one of the following statuses.
- Suppressed
- Display
- Optional
- Required
8. What is chart of account and how many charts of
accounts can be assigned to a company?
Ans: Chart of account is a list of all G/L accounts used
by one or several company codes.
For each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a Company code.
You have to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code.
You have the following options when using multiple company
codes.
You can use the same chart of accounts for all company
codes
If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.
In addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.
The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the co! mpany codes which use different charts of accounts together or separately.
9. What does definition of a chart of account contains?
Ans: chart of account key
Name
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator
10. Can one COA be assigned to several companies?
Ans: yes. One COA can be assigned to several companies.
11) What is account group and what does it control?
Ans: Account group determines which fields you can configure
on the G/L master record. It is necessary to have at least two one for
B/S and another one for P&L a/c.
It controls the Number ranges of GL A/C.
The status of fields of the master record of GL belongs
to company code area.
12) What is reconciliation account; can you directly
enter documents in that a/c?
Ans: When you p! ost items to a subsidiary ledger, the
system automatically posts the same data to the general ledger. Each subsidiary
ledger has one or more reconciliation accounts in the general ledger.
We can’t use reconciliation account for direct postings.
13) How do you control field status of GL master records
and from where do you control!
Ans: Field status variant is maintained all FSGs.
14) What are the segments of GL master record?
Ans:
- COA Segment
A/C group
Nature of account
Short text
GL a/c long text
Trading partner
Group Account Number
- Company code segment
Account currency
Tax
Reconciliation a/c for a/c type
OIM,LID,FSG.
15) What does Field status group assigned to a GL master
record controls?
Ans: It controls the account assignments that are made
to the account. Specifically the field status group controls whether postings
to cost centers, internal orders, profitability segments and so on are
required, not allowed (suppressed), or optional.
16) What is Country and operational chart of account?
Why do you use group chart of account?
Ans: Operational chart of account – Day to day activities
It is mandatory.
Country COA – It’s used for legal specific requirement
of each country. It’s additional and optional.
Group COA used for consolidation of Company codes. This
is for group consolidation purpose.
17) What are all the segments in a Customer/Vendor
master record?
Ans: Segments in Customer
Segments in Vendor
- General Data segment
General data segment
- Company code segment
Company code segment
- Sales area segment
Purchasing organization Segment
18) What is open line item management? What do you
mean by clearing open line items?
Ans: Open item management is further reconciliation function.
OIM allows you to display the open and cleared items and amounts in an
account. OIM should be used if an offsetting entry is made for every line
item posted in the account. The a/c is reconciled and cleared against another
account. Ex. Salary clearing account and GR/IR Clearing account.
19) What is residual payment and part payment?
Ans: Residual payment it clears original invoice with
incoming amount and create new line item for remaining outstanding amount.
Partial payment it leaves the original invoice amount
and creates new
line item for incoming amount.
20) What is internal and external number ranges?
Ans: Internal Number Ranges: Doc. No will be provided
by the system automatically in serial order allotting the next available
progressive number. The number must be in numerical.
External Number ranges: Doc. No will be given manually
by the end user. System will not lock no automatically in this case. User
can pick the number randomly. Number may be an alpha numeric.
*-- Shaannthi S.
