Every company code that needs to use an account from assigned chart of account has to create its own company code segment true false.
Settings for payment program are defined in at time of posting invoice - line item level vendor master record customizing for payment program.
(FI-AM] The chart of depreciation is defined at what level Asset class. Plant. Company code. Client.
[FI-SLJ We do know there are differences between Cost-of-sales-accounting and Period accounting. What is the correct answer Cost of sales accounting has the emphasis on summarizing the activity and situational change over a period of time, for a given organizational unit. Period accounting is divided into Costing based and into Account based. Companies must choose to use one of these methods (Cost of sales or Period accounting) for generating their legal financial statements. Period accounting has the emphasis into matching the revenues for goods/or services provided against the related expanses for those items.
(FI-AM| Different company codes can be linked to one chart of depreciation false true.
Which are the segments of SD view of customer account master data controlling area company code client sales area purchase organization.
Several company codes can use the same chart of accounts, although they have different charts of depreciation True False.
All reconciliation accounts and all G/L accounts with open item transactions in foreign currency must be assigned to the G/L account for realized losses and gains. Which of the following options exist for this assignment One or more is correct A single G/L account can not be used per currencies and currency types. A single G/L account can be used per currency A single G/L account can not be used per currency type A single G/L account can be used for all currencies and currency types.
Usage of financial statement version is optional for group chart of account false true.
What is the highest organizational unit which usually perform dunning Chart of account Client Business Area. Company Code.
Tax calculation by system are usually posted via separate line item to a special tax account in standard scenario true false.
Which payment terms are defaulted when posting an invoice depends on where the Invoice is created: One or more is correct If the invoice is created in Fl the payment terms from the company code segment are defaulted when posting the MM-invoice payment terms are copied to the Fl-lnvoice If a vendor invoice is created in MM payment terms from the purchasing segment are not defaulted. When posting the SD-invoice payment terms are not copied to the Fl-invoice.
If a closed year is subsequently released for posting, it can only be closed again once the yearend closing program has been re-run false true.
How many levels the GL account master record have and what are they 1 Levels GL master record. 3 Levels client, chart of account 2 Levels company code and chart of account level. 2 Levels company code and client level.
What is it validation? One or more is correct Allows you to define your own account number. Allows you to define your own account document. Allows you to define your own conditions for substituting specific fields. Allows you to define your own individual checks for specific fields when a business transaction is being processed.
System determines tax from tax code base amount.
The accounting document: One or more is correct An accounting document must contain at least 1 line item. The debits and credits are not required to balance to zero before posting is permitted. The header section contains data relevant for the management of whole document, such as document number, posting date, company code, currency and document text. Each line item would contain an account, an amount and other relevant posting information.
The reconciliation account: One or more is correct Can be defined for customer, vendor and asset account types. itself is not designed for direct posting Is defined on the client portion of the company code. Ensures real-time integration of sub ledger account with the general ledger.
What characteristics are configured standard for every customer/vendor account open item management purchase organisation currency line item display company code.
The local currency it is defined at the time the: One or more is correct Company code is created. Chart or account is created. document header. Document is posting.
A document can only be reversed if: One or more is correct The original document contains no cleared line items, if the document does contain cleared items, then these items must be reset before reversal can take place. The original document contains only customer, vendor and G/L line items. The original document was posted in Fl system or originating in other modules All specified values (such as, cost center) are not still valid.
What defines the date on which terms of payment are to begin Entry date. Posting date. Document type. Baseline date.
Items which have to be paid are bundled together to create payments as long as they have: One or more is correct The different payee/payer. The same currency. The different bank connection in the item. The same paying and sending company code.
Payment differences that fall outside defined limits: One or more is correct Limit the possible dunning levels. Grant only cash discount for the portion paid. The remaining discount can only be granted once the outstanding receivable has been paid off in full, within the due date When posting a residual item, you require a payment term. You can transfer the payment term from the original invoice or default a separate payment item.
Which the following statements about creating customer master records are correct Information on each screen may De defined in configuration mandatory, suppressed or optional, depending upon the company code. An account group always gets assigned to a customer. The company code is always a required entry. The account number may be assigned by the user externally. Information on each screen may be defined in configuration as mandatory, suppressed or optional, depending upon the account group.
(Fl-Postings] Allocation Field: One or more is correct. Is an additional reference field for line items. Can get more information on entry by displaying the document Is either filled automatically (sort key in the master Record) or manually (entry in a line item). Line items can be sorted in the account group directory by the content of the Allocation field.
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