AACCOBJ | Display Active Acct Assgnmt Elements |
AARC | Archiving Asset Accounting |
AART | Reading of Archive Data |
AATENV1 | Create Data Collection |
AATENV2 | Create Test Cases |
AATENV3 | Execute Test Cases |
AAVN | Recalculate base insurable value |
AB01 | Create asset transactions |
AB02 | Change asset document |
AB03 | Display Asset Document |
AB08 | Reverse Line Items |
ABAA | Unplanned depreciation |
ABAD | Asset Retire. frm Sale w/ Customer |
ABAD_OLD | Asset Retire. frm Sale w/ Customer |
ABAKN | Last Retirement on Group Asset |
ABAO | Asset Sale Without Customer |
ABAON | Asset Sale Without Customer |
ABAV | Asset Retirement by Scrapping |
ABAVN | Asset Retirement by Scrapping |
ABAW | Balance sheet revaluation |
ABAWN | New value method |
ABB1 | Correction of Asset Accounts |
ABCO | Adjustment Posting to Areas |
ABF1 | Post Document |
ABF1L | Post Document in Ledger Group |
ABGF | Credit Memo in Year after Invoice |
ABGL | Enter Credit Memo in Year of Invoice |
ABIF | Investment support |
ABMA | Manual depreciation |
ABMR | Manual transfer of reserves |
ABMW | Reverse asset trans. using doc. no. |
ABNA | Post-capitalization |
ABNAN | Post-Capitalization |
ABNC | Enter post-capitalization |
ABNE | Subsequent Revenue |
ABNK | Subsequent Costs |
ABSO | Miscellaneous Transactions |
ABSO_OLD | Miscellaneous Transactions |
ABST | Reconciliation Analysis FI-AA |
ABST2 | Reconciliation Analysis FI-AA |
ABT1 | Intercompany Asset Transfer |
ABT1N | Intercompany Asset Transfer |
ABUB | Transfer between areas |
ABUM | Transfer From |
ABUMN | Transfer within Company Code |
ABUZSM | Maintain Line Item Schema |
ABZE | Acquisition from in-house production |
ABZK | Acquisition from purchase w. vendor |
ABZO | Asset acquis. autom. offset. posting |
ABZON | Acquis. w/Autom. Offsetting Entry |
ABZP | Acquistion from affiliated company |
ABZS | Enter write-up |
ABZU | Write-up |
ABZV | Asset Acquis. Posted w/Clearing Acct |
ACC01 | Account Maintenance FI-AA |
ACCMAP | Convert Depreciation Areas |
ACSET | Maint.Acct Types for Acct Asgmt Obj. |
AFAB | Post depreciation |
AFABN | Post Depreciation |
AFAF | Assets with errors |
AFAM_093B | View Default Values for Valuation |
AFAM_093C | Company Code Default Values |
AFAMA | View Maint. for Deprec. Key Method |
AFAMD | View Maint. Declining-Bal. Method |
AFAMH | Maintain Maximum Amount Method |
AFAMP | View Maint. Period Control Method |
AFAMR | View Maintenance Base Method |
AFAMS | View Maint. Multi-Level Method |
AFAMSK | Method: Levels in Calendar Years |
AFAR | Recalculate Depreciation |
AFBN | Include New Depreciation Area |
AFBP | Create depreciation posting log |
AIAB | AuC Assignment of Dist. Rule |
AIAO | C AM Maint. list vers. gen. line itm |
AIAZ | Display Dist. Rule Allocation |
AIBU | Transfer Asset under Const. |
AIIO | C AM Maintain List Version AuC |
AIST | Reverse Settlement of AuC |
AJAB | Year-End Closing |
AJRW | Fiscal Year Change |
AM04 | Changes to Asset Classes |
AM05 | Lock Asset Class |
ANHAL | Maintain Cutoff Value Key |
ANK0 | Ch.-of-Depr.-Dep. Asset Class Data |
ANK1 | Ch.-of-Depr.-Dep. Control Specif. |
ANK2 | Ch.-of-Depr.-Dep. Allocations |
ANK3 | Ch.-of-Depr.-Dep. Net Worth Valuat. |
ANK4 | Ch.-of-Depr.-Dep. Insurance Data |
ANKA | Directory of asset classes |
ANKL | Generate Asset Classes |
ANKL_OLD | Create Asset Classes from Accounts |
ANSICHT | Maintain Asset Views |
ANSICHT00 | Assignment Trans.Group – Asset View |
ANVEST | Maintain Investment Support Measures |
AO11 | Assign number range |
AO21 | Screen layout for deprec. areas |
AO25 | Unit-of-prod. depreciation |
AO31 | Specify Depreciation Area |
AO32 | Assign net worth tax area |
AO33 | Net worth tax field selection |
AO41 | Add to insurance specifications |
AO42 | Insurance field selection |
AO51 | Leasing field selection |
AO52 | Add to leasing entries |
AO61 | Assign user fields |
AO67 | Define Transaction Type |
AO68 | Define Transaction Type |
AO69 | Account assignmt. KTNAIB |
AO71 | Document type for posting deprec. |
AO72 | Specify posting procedure |
AO73 | Define Transaction Type |
AO73_INV | Define Transaction Type |
AO74 | Define Transaction Type |
AO75 | Define Transaction Type |
AO76 | Define Transaction Type |
AO77 | Define Transaction Type |
AO78 | Define Transaction Type |
AO79 | Define Transaction Type |
AO80 | Define Transaction Type |
AO81 | Define Transaction Type |
AO82 | Define Transaction Type |
AO83 | Define Transaction Type |
AO84 | Define Transaction Type |
AO85 | Account assignmt Acquisitions |
AO86 | Account assingmt. Retirements |
AO87 | Acct. Assignmt Revaluation on APC |
AO88 | Acct.Assignmt for Investment Support |
AO89 | Acct.assmt. not to curr ac.as.share |
AO90 | Account assignmt Acquisitions |
AO90_OLD | Account assignmt Acquisitions |
AO91 | Specify field group authorization |
AO92 | Logical field groups |
AO93 | Ord. Depreciation Acct Assignment |
AO94 | Special Depreciation Acct Assignment |
AO95 | Acct. assgnmt. Unplanned deprec. |
AO96 | Acct. assgnmt. Transfer of reserves |
AO97 | Acct. assgnmt. Reval. of deprec. |
AO98 | Acct. assignment Interest |
AO99 | Acct. assgnmt. Derived dep. areas |
AO99_OLD | Acct. assgnmt. Derived dep. areas |
AOBK | Depreciation areas/Reduction rules |
AOBV | Maint. of rules for delivery costs |
AOCO | Cost center check (across co.codes) |
AOLA | Master Data Tab |
AOLAPOST | Tabstrip Posting Transactions |
AOLK | Tab Layout for Asset Master Data |
APER_RESET | Reset Periodic Posting Run |
AR01 | Call Asset List |
AR02 | Call Up Asset History Sheet |
AR03 | Call Up Depreciation List |
AR04 | Call Up Depreciation + Interest List |
AR05 | Call Up Asset Acquisition List |
AR06 | Call Up Asset Retirement List |
AR07 | Call Up Asset Transfer List |
AR08 | Call Up Depreciation Compare List |
AR09 | Call Up Property List |
AR10 | Call Up Insurance List |
AR11 | Investment Grants |
AR11N | Investment Grants |
AR12 | Call Up Asset Directory |
AR13 | Call Up Prim. Cost Plan. Dep./Int. |
AR14 | Call Up Manual Depreciation List |
AR15 | Changes to Master Record |
AR16 | Changes to Asset Classes |
AR17 | Call Up Leasing Liability List |
AR18 | Call Up Depr.Simulation |
AR19 | Call Up List of Origins |
AR20 | Retirement comparison |
AR21 | Mid-quarter Alert Report |
AR22 | Analysis of retirment revenue |
AR23 | Italy: Asset register |
AR24 | Italy: Assets at 3rd party |
AR25 | Depreciation posted |
AR26 | Call up special reserve list |
AR27 | Call up: Group asset list |
AR28 | Call up asset history |
AR29 | Re- and New Valuation of Assets |
AR29N | Re- and New Valuation of Assets |
AR30 | Display Worklist |
AR31 | Edit Worklist |
AR32 | Call Create Worklist |
AR32N | Call Create Worklist |
ARAL | Display Application Log |
ARMO | Schedule Monitor: Asset Accounting |
ARQ0 | FIAA – Ad hoc reports |
ART0 | FIAA – Information System |
AS01 | Create Asset Master Record |
AS02 | Change Asset Master Record |
AS03 | Display Asset Master Record |
AS04 | Asset Changes |
AS05 | Block Asset Master Record |
AS06 | Delete Asset Record/Mark for Delet. |
AS08 | Number Ranges:Asset Number |
AS100 | Legacy Data Transfer using Excel |
AS11 | Create Asset Subnumber |
AS11_FMIM | Create AuC Subnumber |
AS21 | Create Group Asset |
AS22 | Change Group Asset |
AS23 | Display Group Asset |
AS24 | Create Group Asset Subnumber |
AS25 | Block group asset |
AS26 | Mark group asset for deletion |
AS81 | Create Old Group Assets Data |
AS82 | Change old group asset |
AS83 | Display old group asset |
AS84 | Create legacy group asset subnumber |
AS91 | Create Old Asset |
AS92 | Change Old Asset |
AS93 | Display Old Asset |
AS94 | Create Legacy Asset Subnumber |
ASCC | Assets on My Cost Center – GUI Vers. |
ASCC_GUI | Assets on My Cost Center |
ASEM | My assets |
ASEM_GUI | My Assets – GUI Version |
ASIM | Simulation of asset posting |
ASKB | Periodic Asset Postings |
ASKBN | Periodic APC Posting Run |
AT01 | Create Asset Master Record (old) |
AT02 | Change Asset Master Record (old) |
AT03 | Display Asset Master Record (old) |
AT11 | Create Asset Subnumber (Old) |
AT21 | Create Group Asset (old) |
AT22 | Change Group Asset (old) |
AT23 | Display Group Asset (old) |
AT24 | Create Group Asset Sub-Number (old) |
AT81 | Create Old Group Asset (old) |
AT82 | Change Old Group Asset (old) |
AT83 | Display Old Group Asset (old) |
AT84 | Display Old Group Asset Sub-No.(old) |
AT91 | Create Old Asset (old) |
AT92 | Change Old Asset (old) |
AT93 | Display Old Asset (old) |
AT94 | Create Old Asset Sub-Number (old) |
AUFW | Maintain Revaluation Measures |
AUN0 | FI-AA Asset Summary – Analysis of an asset and its environment |
AUN1 | FI-AA Asset Summary – Analysis of an asset and its environment: Postings |
AUN10 | FI-AA Asset Summary – Analysis of an asset and its environment: Fiscal Year Variant |
AUN11 | FI-AA Asset Summary – Analysis of an asset and its environment: Transfer/Line Item Schema |
AUN2 | FI-AA Asset Summary – Analysis of an asset and its environment: Value Determination |
AUN3 | FI-AA Asset Summary – Analysis of an asset and its environment: Posted Values |
AUN4 | FI-AA Asset Summary – Analysis of an asset and its environment: Legacy Data |
AUN5 | FI-AA Asset Summary – Analysis of an asset and its environment: Account Assignment |
AUN6 | FI-AA Asset Summary – Analysis of an asset and its environment: Insurance |
AUN7 | FI-AA Asset Summary – Analysis of an asset and its environment: Leasing |
AUN8 | FI-AA Asset Summary – Analysis of an asset and its environment: Investment Support |
AUN9 | FI-AA Asset Summary – Analysis of an asset and its environment: Screen Layout |
AUVA | FI-AA Incomplete Assets |
AW01 | Asset Explorer |
AW01_AFAR | Asset Explorer (old engine) |
AW01_OLD | Asset Master Rec: Display Val.Fields |
AW01N | Asset Explorer |
F-90 | Acquisition from purchase w. vendor |
F-91 | Asset Acquis. Posted w/Clearing Acct |
F-92 | Asset Retire. frm Sale w/ Customer |
FAA_GENMAP | Generate Mapping Methods |
FB05_OLD | Post with clearing |
FBA7_OLD | Post Vendor Down Payment |
FBA8_OLD | Clear Vendor Down Payment |
FIAAHELP | FI-AA Utility Programs |
FIAAHELP_DARK | FI-AA Utility Programs Dispatcher |
J1AH | Creating Way Bills |
J1AI | Asset Revaluation (Inflation) |
J1AJ | Print Way Bill Document |
OA01 | Gain/loss substitution -Fixed assets |
OA02 | Substitution: Mass Changes to Assets |
OA03 | C AM Asset Class Index |
OA05 | C AM Maintain Table T499S |
OA07 | Generate C AM BALTD Record Layout |
OA08 | FI-AA: Maintain Country Table |
OA11 | C AM Asset Master Matchcode |
OA13 | FI-AA Legacy Data Transfer |
OA14 | Direct import of data |
OA15 | C AM Maintenance Table T094P |
OA1X | Asset Data Transfer |
OA50 | Maint. of rules for delivery costs |
OA79 | C AM Maintain Ast.Hist.Sheet Defin. |
OA80 | C AM Maint. Asset.Hist.Sheet Defin. |
OA81 | Maintain Transaction Types – Expert |
OA84 | Generate Period Control |
OA85 | C FI-AA: Weighting periods |
OA90 | AM: Asset Register |
OAAQ | Take back FI-AA year-end closing |
OAAR | C AM Year-end closing by area |
OAAW | FI-AA: Memo value for asset class |
OAAX | FI-AA: Asst class for grp asset only |
OAAY | FI-AA: Hist. layout set-asset class |
OAAZ | FI-AA: Settlement profile |
OABC | Depreciation areas/value transfer |
OABD | Depreciation areas/param. transfer |
OABE | Deprec. areas/gross transfer |
OABK | Delete asset class |
OABL | C AM Reset Company Code |
OABM | Depreciation areas/Transfer of resvs |
OABN | Depreciation areas/ordinary deprec. |
OABR | Maint. of rules for delivery costs |
OABS | Depreciation areas/Special deprec. |
OABT | Set Up Parallel Currencies |
OABT_OLD | Deprec. areas/parallel currencies |
OABU | Depreciation areas/Unplanned deprec. |
OABW | Depreciation areas/Replacement vals |
OABX | Deppreciation areas/Investmt support |
OABY | C AM Maintain Table T093Y |
OABZ | Depreciation areas / Interest |
OAC1 | C AM Leasing Types |
OACB | Customer name for evaluation group 1 |
OACC | Customer name for evaluation group 1 |
OACD | Customer name for evaluation group 1 |
OACE | Customer name for evaluation group 1 |
OACF | Customer name for evaluation group 1 |
OACS | C FI-AA View maint. substitutions |
OACV | C FI-AA View maint. validations |
OADB | Define Depreciation Area |
OADB_WZ | Set Up Parallel Valuation |
OADC | Depreciation Areas: Area type |
OAGL | Reset posted depreciation |
OAI5 | C FIAA Time-dependent inv. support |
OAK1 | C AM Consist. Chart of Depreciation |
OAK2 | C AM Consist. Company Code |
OAK3 | C AM Consist. Depreciation Area |
OAK4 | C AM Consist. G/L Accounts |
OAK5 | C AM Customizng reconc. acct. contrl |
OAK6 | C AM Consist. G/L accounts |
OAK7 | Reconc. acct. as stat. cost element |
OAKA | Standart texts in asset class |
OAKB | Define asset for gain/loss |
OALX | Define Long Text Templates |
OAMK | Change Reconciliation Accounts |
OAOA | FI-AA: Define asset classes |
OAOB | FI-AA: Assign company codes |
OAP4 | FI-AA: Description of chart of dep. |
OAPL | C FI-AA: Set Chart of Depreciation |
OARC | Maint. of retention periods FI-AA |
OARK | Archive Settings |
OARP | Call up of AM report overview |
OASI | FI-AA Implementation Guide (smart) |
OASV | Enter G/L Account Postings |
OATB | Asgmt of dep.area to cross-sys.area |
OATR | Define Report Selection |
OAV5 | Index figures |
OAV7 | C AM Change Simulation Versions |
OAV8 | FI-AA C Def. Eval. Group, 8 places |
OAV9 | C AM Asset hist. group view maint. |
OAVA | C AM Eval. Group View Maintenance |
OAVB | C AM View Maintenance Prop.Indicator |
OAVC | C AM Manual Valuat. View Maintenance |
OAVD | C AM Insurance Data View Maintenance |
OAVE | C AM View Maintenance Classif.NWTax |
OAVF | C AM View Maint. Insurance Companies |
OAVG | C AM View Maint. Report Simul.(Dep) |
OAVH | C AM View Maint. Period Control |
OAVI | C AM View Maint. Sort Versions |
OAVJ | C AM View Maint. Trans.Type Group |
OAVL | C AM View Maint. Locations |
OAVM | C AM View Maint. Field Groups |
OAVN | C AM View Maint. Fld.Grp. Asset Data |
OAVO | C AM View Maint. Screen Control |
OAVP | C AM View Maint. Deprec.Trace Texts |
OAVR | C AM View Maint. Dep.Check Rules |
OAVS | C AM View Maint. Period Rule |
OAVT | C AM View Maint. Insurance Premium |
OAVX | C AM view maint no.periods shtd f.yr |
OAVZ | C AM Call up report |
OAW1 | Reason for investment |
OAW2 | Maximum base value |
OAW3 | Translation method |
OAWF | Assign Workflow Tasks |
OAWT | AW01- define value field texts |
OAXB | Deprec. areas for transaction types |
OAXC | Deprec. areas for transaction types |
OAXD | Deprec. areas for transaction types |
OAXE | Deprec. areas for transaction types |
OAXF | Define Transaction Type |
OAXG | Define Transaction Type |
OAXH | Deprec. areas for transaction types |
OAXI | Deprec. areas for transaction types |
OAXJ | Deprec. areas for transaction types |
OAY1 | Special handling of transfer posting |
OAY2 | Asset class: Low value asset check |
OAYA | Deprec. areas for transaction types |
OAYB | Limiting transaction type groups |
OAYC | Legacy data transfer: Depr. terms |
OAYD | Legacy data transfer: Man. entry FC |
OAYE | Legacy data transfer: Sequence |
OAYF | Legacy Data Transfer: Accumul. Depr. |
OAYG | Legacy data transfer: Calc.repl.val. |
OAYH | Depreciation area currency |
OAYI | Memo value of area |
OAYJ | Net book value is changeover amount |
OAYK | Low-value assets |
OAYL | Individual period weighting |
OAYM | Permit group asset for area |
OAYN | Assign bal.sheet/inc.stmt to area |
OAYO | Rounding specific. for deprec. area |
OAYP | Shortening rules for shortened FY |
OAYQ | Gross/net resrvs.for special deprec. |
OAYR | Posting rules for depreciation |
OAYS | Special treatment of retirement |
OAYT | Transact.type for proportional vals |
OAYU | Capitaliztn of dwn-paymnts (transfr) |
OAYZ | Asset class: Depreciation areas |
OAZ1 | Validation Rules for Trans.Typ.Grp. |
OAZ2 | Substitution for trans.type group |
OB03 | C FI Maintain Table T003 (Change View “Document Types”) |
OKGL | Versions for capitalization val.calc |
ORFA | Asset Accounting Customizing: Display IMG |
SPRO | Customizing: Execute Project – SAP Reference IMG |
Year: 2013
Retained Earnings GL Account in relation to the Balance Carry Forward
Overview
You may notice that for certain Balance Sheet General Ledger accounts the opening balance of a fiscal year does not equal the closing balance of the same account for the previous fiscal year. It may be the case that the account in question is a Retained Earnings account and therefore the carry forward logic is not the same as for other all other GL accounts. Profit & Loss accounts behave differently to Balance Sheet accounts as we will shortly see.
Step 1:
First determine if the account in question is a Balance Sheet account or not by checking in transaction FS00 (FS03 also). Just enter the company code and account number in the selection and click on the “Type/Description” tab:
You will be able to determine whether the account is a “Balance Sheet Account” or not. Additionally It may also be the case that you can determine if the account is related to Retained Earnings by checking the description of the account in the “Short Text” and/or “G/L Account Long Text” as in the example above.
Step 2:
Next determine the Chart of Accounts related to the company code you are working with. This can be quickly checked in transaction OBY6 and selecting the company code:
Step 3:
Next, open transaction OB53. You first enter the Chart of Accounts and then press Enter. On the next screen you will see what Retained Earnings account is defined for your Chart of Accouts and Company code:
Now you know for sure whether the account in question is indeed a Retained Earnings account or not.
Conclusion
Balances are not carried forward in a normal way for the Retained Earnings account. The opening balance for a Retained Earnings account is calculated using the closing balance for the account and the sum of the closing balances of all the Profit & Loss accounts using the following formula:
As a result of this, the opening balance of a Retained Earnings account will not equal the closing balances of the previous fiscal year. Consequently, the balance of the Retained Earnings account will not match the sum of line item items since balances are carried forward to the Retained Earnings accounts from other Profit & Loss Accounts without any line items generated.
The Retained Earnings account is classed as a Balance Sheet Account, not a Profit & Loss account.
SAP FICO Online Exam
G/L ACCOUNTING (FI-G/L)
1.What is open item management?
Open item management means that a line item needs to be cleared against another open item. At a particular point, the balance of an account is the sum of all open items of that account. Generally, you make these settings in the G/L Master for all clearing accounts, such as a Goods receipts and Invoice receipts (GR IR) account, customer account, vendor account, or bank G/L account, or all accounts except the main bank account. Open item managed accounts always have line item management.You can switch open item management on and off through transaction code FS00.
2.What are the types of currencies?
The following currencies are used in SAP solutions:
■ Local currency—T his is company code currency, which is used for generating financial statements for external reporting. Sometimes it is called operating currency.
■ Group currency —Group currency is the currency that is specifi ed in the client table and used for consolidation purposes.
■ Hard currency —Hard currency is a country-specifi c second currency that is used in countries with high infl ation.
■ Index-based currency —Index-based currency is a country-specific fictitious currency that is required in some countries with high infl ation for external reporting (for example, tax returns).
■ Global company currency —Global company currency is the currency that is used
for an internal trading partner.
3.Are any FI documents created during purchase order (PO) creation? If
yes, what is the entry?
During PO creation (using transaction code ME21N), no FI document will be created. However, in CO, there can be a commitment posting to a cost center according to confi guration. The offsetting entry is posted at the time of GR.
4.There are many banks in a house bank. If a payment is to be made from a particular bank G/L account, how is it carried out?
There can be several accounts in one house bank. A house bank is represented by a house bank ID and a bank account is represented by an account ID. While creating the account ID, you are assigning a G/L account for outgoing payment. When making payment, you will select the house bank ID and account ID, which in turn determines from which G/L account payment will be disbursed.
5.What is the difference between Account Assignment Model (AAM), recurring entries, and sample documents?
AAM: A reference for document entry that provides default values for posting business transactions. An AAM can contain any number of G/L account itemsand can be changed or supplemented at any time . Unlike sample documents, the G/L account items for AAMs may be incomplete.
Recurring entries : A periodically recurring posting will be made by the recurring entry program on the basis of recurring entry original documents. The procedure is comparable to a standing order by which banks are authorized to debit rent payments, payment contributions, or loan repayments.
Sample documents : A sample document is a special type of reference document. Data from this document is used to create default entries on the accounting document entry screen. Unlike an accounting document, a sample document does not update transaction fi gures but merely serves as a data source for an accounting document.
6.In the G/L master you have the options Only balances in local crcy and Account currency. What do these mean?
Account currency is the currency assigned to the G/L account. If you decide that you want to maintain company code currency, then you can post a transaction in any currency in that account. If you want to maintain separate currency for that G/L, note that there will be a difference because of the conversion rate. Some G/L accounts can’t be maintained on an open item basis and can’t be in a foreign currency, such as clearing accounts or discount accounts, etc. In that case,you can specify Only balances in local crcy to show the balance in local currency.
7.How many charts of account can be attached to a company code?
A maximum of three charts of account can be assigned to a company code:
- operational COA
- group COA
- country COA.
8.What are substitutions and validations? What is the precedent?
Validations are used to check the presence of certain conditions. It returns a message if the prerequisite check condition is not met. Substitutions are similar to validations. They actually replace and fi ll the field with values behind the scenes without the user’s knowledge, unlike validations that create on-screen messages for the user.
9.What are special periods used for?
The special periods in a fi scal year variant can be used for posting audit or tax adjustments to a closed fi scal year. The logic behind the use of special periods is to identify and have control over transactions after the closing of normal posting periods.
10.What is a shortened fiscal year? When is it used?
A shortened fi scal year is a fi nancial year that has fewer than 12 normal posting periods. This type of fi nancial year is used for shifting an accounting period from one fi nancial period to another fi nancial period. For example, say Company X was following accounting period Apr xxxx to Mar xxxx+1, and has now decided to follow accounting period Jan xxxx to Dec xxxx. Now the current accounting period duration is only 9 months, i.e., from Apr xxxx to Dec xxxx, which is less than12 months. This type of fi scal year is called a shortened fi scal year.
11.What are posting periods?
A posting period is a period of time in which you are posting a transaction. It may be a month or a week. In the fi scal period confi guration, you defi ne how many posting period a company may have. A posting period controls both normal and special periods for each company code. It is possible to have a different posting period variant for each company code in the organization. The posting period is independent of the fiscal year variant.
12.What are document types and what are they used for?
Document type is nothing but types of vouchers containing line items. Several business transactions can be identifi ed within a particular document type. The document type controls:
■ Document number ranges
■ Header part of document
■ Line item level of the document
■ Filing of physical document
However, if SAP standard document types are not suffi cient, you can create your own using transaction code OBA7.
13.What is an employee’s tolerance group? Where is it used?
An employee’s tolerance group controls the amount that is to be posted. Tolerance groups are assigned to user IDs, which ensures that only authorized persons can make postings. By defining the employee’s tolerance group, you are restricting employees from entering certain transactions for which they are not authorized.This basically controls who is authorized for what amount.
An employee’s tolerance group limit controls:
■ Up to what amount per line item an employee can post
■ Up to what amount per document an employee can post
■ Allowable payment difference an employee can accept
14.How many FSVs can be assigned to the company code?
There is no such restriction of assignment of FSV to company codes. You can assign as many FSVs as you want to the company code.
15.What are recurring entries and why are they used?
Recurring entries (setup in FBD1 ) can eliminate the need for the manual posting of accounting documents
which do not change from month to month. For example, a regular rental expense document can be created which can be scheduled for the last day of each month. Usually multiple recurring entries are created together and then processed as a batch at month end using transaction F.14
16.Explain how foreign currency revaluation works in SAP R/3 FI
Over time the local currency equivalent of foreign currency amounts will fluctuate according to exchange rate
movements. Usually at month end, there is a requirement to restate these amounts using the prevailing month end exchange rates.
SAP can revalue foreign currency GL account balances as well as outstanding customer and vendor open item balances.
In SAP configuration, you define the balance sheet adjustment account and which accounts the realized gain/loss should be booked.
A batch input session is created to automatically post the required adjustments.
17.During GL account clearing how can small differences be dealt with ?
During configuration a tolerance limit is set which defines the maximum differences allowed during clearing.
The differences can be automatically booked by the system to a specific account during posting (using IMG transaction OBXZ)
18.A general ledger master record contains …….TWO……….. segments
FOREIGN CURRENCIES
Foreign Currency Transactions:
There three types of Exchange rates defined by SAP,
- Bank Buying Rate Exports Purpose – G Type
- Bank Selling Rate Import/Expenditure –B Type
- Average Rate MM/SD Users only –M Type
Path: SAP⇒SAP Netweaver⇒General Settings⇒Currencies⇒Check Exchange
- Once we follow one conversion factor, follow continuously for all the Years.Don’t change in between,it gives wrong Results
- Conversion Factor are given at Client level but not at Company code level.
Exchange Rates entry End user Area: S_BSE_68000174
Path : SAP Menu ⇒ Accounting ⇒ Financial Accounting ⇒ General Ledger ⇒ Environment ⇒ Current Settings ⇒ Enter Transaction Rates
You carry out accounting for a company code in the country currency (local
currency) of the company code. Therefore, you must specify the local currency
in the system for each company code. All other currencies used are indicated as
foreign from the point of view of the company code. There are several situations
in which you need foreign currencies:
- to post and save receivables and payables in foreign currency
- to make payments in foreign currency
- to manage accounts in foreign currency (foreign currency balance sheet accounts)
- to carry out consolidation and prepare corporate group reports.
These are the following configuration steps for foreign currencies:
1. Check Currency Codes (SPRO) : SAP solutions come with standard currency codes for the ISO company codes. Sometimes circumstances arise in which you have to define new currency. You can do so through this step.
2. Set Decimal Places for Currencies (OY04) :In this step, you will define the number of decimal places for the currency.
3. Check Exchange Rate Types (SPRO) : In this step, you will define exchange rate types, which you will use later on for various transactions.
4. Define Valuation Methods (OB59) : To valuate foreign currencies, you need at least one valuation method. With the valuation methods, you will define how to handle foreign currency valuation methods and the exchange rate types you are going to use. In a high-level valuation method, you will hold various parameters for foreign currency valuations.
5. Prepare Automatic Postings for Foreign Currency Valuation
(OBA1): In this step, you will assign various G/L accounts to record foreign valuation
differences.These are the following application steps for foreign currencies:
6. Enter Exchange Rates (SPRO):
In this step, you will enter exchange rates to convert one currency to another.
7. Foreign Currency Valuation (F.05):This transaction code is used to valuate foreign currencies. Foreign currencyincome and expenses will be recorded in the respective account defined through transaction code OBA1.
Balancing Field ‘Segment’ in Line Item 001 Not Filled
CIN Accounting Entries
Accounting entry in procurement
~ For Domestic Procurement of Raw Material
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr.
For Domestic proceurement of Capital Goods
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr. (50%)
Cenvat On-hold Dr. (50%)
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr
Subsequent of Capital Goods
Cenvat Account Dr. (50%)
Cenvat On-hold Cr. (50%)
For Import Procurement of Raw Material
During Customs Duty Clearing invoice
Custom Clearing Dr.
Custom Payable Cr.
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Custom Clearing
During Invoice Verification
GR/IR Clearing Dr.
Vendor Payable Cr.
For Excise Duty Credit of Raw Material without PO
Cenvat Account Dr.
Cenvat Clearing Cr.
For Excise Duty Reversal through Excise JV
Cenvat Clearing Dr.
Cenvat Account Cr.
Accounting entry when the goods are issued through MM and Excise invoice is Credited(J1IS &J1IV)
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
Note: Cenvat Suspense Account should be cleared apprpiately using FI JV’s.
Accounting Entry in subcontracting reversal/Recredit
For Subcontracting Challan Reversal
Cenvat Reversal Dr.
Cenvat Account Cr.
For Subcontracting Challan Recredit
Cenvat Account Dr.
Accounting Entry in SD
For Factory Sale During Billing Document
Customer Account Dr.
Sales Account Cr.
Cenvat Suspense Account Cr.
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
For Stock Transfer through SD
No Accounting entries for Performa Billing Document
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
Note: Cenvat Suspense Account should be cleared appropriately using FI JV’s.
Letter of Credit -SAP
This site describes the LC configuration and how to create a financial document.
IMG Path: Sales & Distribution >> Foreign Trade / Customs >> Documentary Payments >> Basic Settings
1. Define Financial Document Type
The financial document type identifies, for example, the different types of documentary letters of credit. These include:
- Document against payment
- Document against acceptance
By default, 01 will be Letter of Credit
2. Define Bank Functions
The below functional will be available by default –
A Notifying bank
B Confirming bank
N Negotiating bank
O Opening bank
U Institute for guarantee
3. Define Texts for Financial documents
This is purely based on the requirement
4. Define Documents to be presented
A Export Billing Document
B Export packing list
C Certificate of origin
5. Define Reasons for change
1 Typing error
2 Amendment
3 Legal change
6. Define Indicators for Financial Documents
Configure as – 01 Letters of credit
7. Define Bank Indicators
1 Banks for confirmed letters of credit
2 Banks for unconfirmed letters of credit
End user Manual
Purpose:
Financial document should be generated for attaching the Letter of Credit (LC) with the sales order. This creates a document in Finance but does not do any postings in the ledger. This is purely used for the purpose of tracking and monitoring the letter of credit and does not affect the payments / collections. This is attached to the sales order to ensure that the sales order value does not go above the LC value.
Transaction Code: VX11N
Path: SAP Easy Access à Logistics à Sales & Distribution à Foreign Trade / Customs à Payment Guarantee à Documentary Payments à Financial Document à Create
- Start the transaction using the menu path or transaction code
Financial doc. cat.: R; Financial doc. type: 01; company Code: XXXX - Press ‘Enter’ to create Financial document
Enter Customer, Ship-to party, Bank Country, Bank Key, Ext. FD number, Financial doc. value(this is imp), Lett.-of-credit crcy, Allowed overdraft %
3. Date/Delilvery Tab: Enter Request date, Date of receipt, Latest shipping date, Validity end date, Opening date, Last date ocean BOL, Presentation date, Number of days, Incoterms (Get it from SD team)
4. Documents tab: List of documents configured will be displayed. Enter the number of originals & copies sent and mark the status as ‘Completed’
5. Banks & Text tab: No mandatory information is required
6. Click the Correction Instruction icon. If any correction instruction is required, it will be displayed. If any, double click on the item and check its maintenance.
7. Click Save – Status A will be set
The Letter of Credit document generated will be used in SD module for linking into a Sales order. Transaction code VX12N is for changing the Financial Document and VX13N for display.
How is the due date of a document calculated?
What journal entries are passed in the system from the time of good receipt until payment is made to the vendor?
In a simple business scenario, you will pass the following accounting entries from
the time of goods receipt until payment to vendor.
1. Transaction code MIGO
Material Account debit
GR/IR Account credit
2. Transaction code MIRO
GR/IR Account Debit
Vendor Account Credit
3. Transaction code F-28
Vendor Account debit
Bank Account credit