unit 3

UNIT 3 Financial Accounting Basics

Lesson 1Describing the Tasks in Financial Accounting at SAP 76

Lesson 2Defining Organizational Structures in Accounting 82

Exercise 3: Organizational Levels 85

Lesson 3Defining General Ledger Master Data 88

Exercise 4: Display a Chart of Accounts 91Exercise 5: Create a General Ledger Account Master Record 93

Lesson 4Using the General Ledger 99

Exercise 6: Post a G/L Account Document 101Exercise 7: Query an Account 105

UNIT OBJECTIVES Describe the tasks in Financial Accounting (FI) at SAP Explain the organizational levels used in Financial Accounting (FI) at SAP Display a chart of accounts and create a general ledger (G/L) master record Describe the special role of reconciliation accounts Perform general ledger (G/L) postings Process an account balance query

Copyright . All rights reserved. 75

Unit 3Lesson 1

Describing the Tasks in Financial Accounting at SAP

LESSON OVERVIEWThis lesson provides an overview of the individual applications within Financial Accounting (FI).Business ExampleYou are a project team member, who wants to gain a broad fundamental understanding of the core processes within FI. For this reason, you require the following knowledge: An understanding of the tasks in FI

LESSON OBJECTIVESAfter completing this lesson, you will be able to: Describe the tasks in Financial Accounting (FI) at SAP

Financial Accounting Overview

Figure 50: Financial Accounting

76 Copyright . All rights reserved.

The important tasks of FI are the recording of monetary and value flows, and inventory evaluation.The G/L contains the records of all accounting-relevant business transactions on to G/L accounts from a business point of view. Every G/L is structured according to a chart of accounts.The chart of accounts contains the definitions of all G/L accounts. These definitions include the account number, the G/L account designation, and the categorization of the G/L account as an income statement or a balance sheet account.The G/L often contains only collective postings, a collection of all AR/AP. In such cases, the posting data represented in subledgers pass on their data in compressed form to the G/L.Reconciliation accounts connect the subledgers to the G/L in real time. This means that as soon as a posting is made to a subledger, the posting to the respective reconciliation account in the G/L takes place.Accounts payable (AP) accounting records all business transactions that have to do with the relationships to suppliers. It takes much of its data from the procure-to-pay business process.Accounts receivable (AR) records and manages accounting data of all customers. It takes much of its data from the order-to-cash business process.Asset Accounting (AA) deals with both current assets and non-current assets (fixed assets).Bank Ledger (FI-BL) supports the booking of cash flows.

General Ledger and Subledger

Figure 51: General Ledger and Subledger

The G/L is managed at the company code level and used to compile the balance sheet and the profit and loss (P&L) statement. The material goods of a company are listed in the balance sheet, and are divided into assets and liabilities.

Lesson: Describing the Tasks in Financial Accounting at SAP


The business transactions that are entered in the subledgers, materials management and the Treasury flow into the balance sheet in real time. The component ,Treasury (TR), focuses on functions such as payment means, treasury management (including financial means, foreign exchange, derivatives, and bonds), loans, and, market risk management.Balance Sheet and P&L Statement

Figure 52: Balance Sheet and P&L Statement

The aim of recording business transactions is to create a balance sheet and P&L statement report. This report must meet specific national requirements.You can set up different balance sheet and P&L structures to meet your countrys reporting requirements. These structures define which accounts should appear in which balance sheet items.Parallel Financial Reporting

Figure 53: Parallel Financial Reporting

New General Ledger Accounting (new G/L) has one leading ledger in each client. However, other ledgers can also exist within the G/L.

Unit 3: Financial Accounting Basics


In new G/L Accounting, one ledger has the role of a leading ledger. However, as in older releases, you can still manage accounts in parallel using additional accounts.SAP Financial Supply Chain Management

Figure 54: SAP Financial Supply Chain Management

SAP Financial Supply Chain Management (SAP FSCM) helps to optimize a company's income and expenditures.Over the last several decades there has been little improvement in the areas of billing, accounts receivable, collections, dispute resolution, credit scoring, and cash management. Today, many businesses see these functions as a prime area for process improvement and a source of greater cost savings.SAP FSCM represents a major area of process innovation and improvement for companies in a broad range of industries.Potential for financial improvement is often found in the areas of invoicing and reconciliation. Companies can save time by preventing arrears and process-related delays in payment, such as, the printing and sending of invoices.Functions of SAP Financial Supply Chain ManagementThe functions of SAP FSCM are as follows: Electronic Bill Presentment and Payment (EBPP) allows the automatic transmission of

invoices to customers making invoicing more efficient. In addition, customers may access account information through the Internet.SAP Biller Direct not only reduces the increasing difficulty in reaching vendors., but also allows vendors to interact with their customers, SAP Biller Direct reduces costs and boosts customer retention, giving companies a competitive edge by providing up-selling and cross-selling options.

SAP Collections and Dispute Management offers system support for processing the payment deductions used to recover payments and collect debts from customers SAP



Collections and Dispute Management enables cross-departmental resolution of dispute cases, including workflow support and escalation procedures. Collaboration with customers is supported by correspondence with customers and self-service through the Internet using SAP Biller Direct. This improves receivables management and speeds up invoice settlement.SAP Collections and Dispute Management allows companies to structure, classify, and minimize outstanding receivables. A company can make receivables management more efficient and process an ever-increasing receivables balance in a short period of time.

SAP Credit Management provides companies having a large customer base with the opportunity to reduce customers total liability using appropriate credit lines. One advantage of SAP Credit Management is the ability to centralize, and provide company-wide management of credit lines. This means that different distribution channels use the same data to check credit worthiness and utilization. This eliminates the risk of customers without the credit department recognizing that the customers have exceeded their credit limit granted to them by using different distribution channels.

SAP Cash and Liquidity Management supports the cash manager in efficiently managing liquidity and currency risk. Redundant data entry is entirely eliminated. All corporate sectors operate on a unique and consistent database, which is used for various purposes. For example, the AR accounts manager might use the database to control incoming payments. The AP accounts manager might use the database to control cashed checks or cash reports across countries, currencies, or subsidiaries, or even across the whole group.

The SAP In-House Cash application allows diversified companies to optimize their intragroup payment transactions by opening an in-house bank. An In-House Cash Center is a virtual bank within the corporate group. Each associated company has one or more accounts. The In-House Cash Center is used to process all payments between company units. This keeps cash resources within the group and optimizing how they are applied.

SAP Treasury and Risk Management offers a comprehensive set of functions for managing financial transactions and risk. It also helps to enable straightforward processing for all conventional types of instruments within investment, debt, and foreign exchange management.



Financial Accounting Versus Management Accounting

Figure 55: Financial Accounting Versus Management Accounting

FI is intended for legal reporting. It can be used to draw up a balance sheet and income statement at the level of legal units.The purpose of Management Accounting is for the internal management of information regarding cost and revenues.The level at which FI is needed is determined by law. Legal reporting will be different for each country.Management Accounting analyzes costs and revenues at high levels across country boundaries. For example, it can analyze costs for all production departments worldwide.Costs and revenues from FI are used in Management Accounting. In Management Accounting, financial data can be allocated across several (FI) boundaries. The results in Management Accounting can be compared with the result in FI (reconciliation).Management Accounting provides Controlling (CO) objects allowing an organization to track both costs and revenues internally.

LESSON SUMMARYYou should now be able to: Describe the tasks in Financial Accounting (FI) at SAP



Unit 3Lesson 2

Defining Organizational Structures in Accounting

LESSON OVERVIEWThis lesson provides an overview of Financial Accounting (FI) organizational levels.Business ExampleYour organization is implementing FI. You need to explain the FI organizational levels and their functions. For this reason, you require the following knowledge: An understanding of the organizational levels used in FI

LESSON OBJECTIVESAfter completing this lesson, you will be able to: Explain the organizational levels used in Financial Accounting (FI) at SAP

FI Organizational Levels

Figure 56: Company Code

The characteristics of a company code are as follows: A company code does not usually extend national boundaries. You can create a company

code according to tax law, commercial law, and other FI criteria. Company codes are usually created based on geographic considerations.

A company code is the smallest SAP entity that supports a full legal set of books. There must be at least one company code in the production environment for a business to

be live. A company code key is a four-character alphanumeric field.


Segment

Figure 57: Segment

A segment is an organizational unit. In new General Ledger Accounting, segments are used as a dimension for reporting purposes.The aims of segment reporting: Provide an insight into different business activities of a diversified company. Provide information about the general environment.The purposes of segment reporting: Provide a clear review of a companys economic performance. Improve forecasting of the potential sales and financial reserves of a company. Anticipate risks and opportunities of a company.International Accounting Standards (IAS) distinguishes between business and geographical segments as follows: A business segment represents a subactivity of a company that involves the manufacture

of a product or provision of a service, with risks and revenues that differ from those of other business segments.

A geographical segment provides information about risks and revenues that differ from other geographical segments in terms of economic or political factors.

According to the United States Generally Accepted Accounting Principles (US GAAP), a segment is a part of the company that incurs costs, generates revenue, and has its own financial data with respect to profit and resource consumption.

Lesson: Defining Organizational Structures in Accounting


Controlling Area

Figure 58: Controlling Area

A controlling area represents a separate unit of Cost Accounting. The controlling area identifies a self-contained organizational structure for which costs and revenues can be managed and allocated.You can assign one or more company codes to a controlling area. This enables you to carry out cross-company-code Cost Accounting between the assigned company codes; however, this is only possible if the assigned company codes and the controlling area use the same operating chart of accounts and fiscal calendar year.



Unit 3Exercise 3

Organizational Levels

Business ExampleYou need to assign company codes to a controlling area to use Management Accounting. For this reason, you must know how to assign company codes to a controlling area.Determine which controlling area company code 1000 is assigned to.1. Determine the controlling area to which company code 1000 is assigned by checking the

Information tab page in the G/L account master record of account number 113100.


Unit 3Solution 3

Organizational Levels

Business ExampleYou need to assign company codes to a controlling area to use Management Accounting. For this reason, you must know how to assign company codes to a controlling area.Determine which controlling area company code 1000 is assigned to.1. Determine the controlling area to which company code 1000 is assigned by checking the

Information tab page in the G/L account master record of account number 113100.a) On the SAP Easy Access screen, choose Accounting Financial Accounting General

Ledger Master Records G/L Accounts Individual Processing In Company Code (FSS0).

b) On the Edit G/L Account Company code data screen, enter the following data:Field ValueG/L Account 113100Company Code 1000

c) Choose the (Display) pushbutton.d) On the Display G/L Account Company code data screen, choose the Information tab

page.

Note:Company code 1000 is assigned to controlling area 1000, CO Europe.

e) Exit the transaction and return to the SAP Easy Access screen.


LESSON SUMMARYYou should now be able to: Explain the organizational levels used in Financial Accounting (FI) at SAP

Lesson: Defining Organizational Structures in Accounting


Unit 3Lesson 3

Defining General Ledger Master Data

LESSON OVERVIEWThis lesson introduces general ledger (G/L) accounting. The lesson covers creating and displaying Financial Accounting (FI) master data at SAP.Business ExampleThe G/L represents a companys set of books. You need to understand the master data that supports the G/L. For this reason, you require the following knowledge: How to display the chart of accounts How to create a G/L master record

LESSON OBJECTIVESAfter completing this lesson, you will be able to: Display a chart of accounts and create a general ledger (G/L) master record Describe the special role of reconciliation accounts

Chart of Accounts

Figure 59: Charts of Accounts

Each G/L is set up according to a chart of accounts. The chart of accounts contains the definitions of all G/L accounts in ordered form. The definitions consist of the account number,


the account name, and the type of G/L account (profit and loss (P&L) account or a balance sheet account).You can define an unlimited number of the charts of accounts in the system. Many country-specific charts of accounts are included in the standard system.Chart of Accounts Assignment

Figure 60: Chart of Accounts Assignment

For each company code, specify one chart of accounts for the G/L. This chart of accounts is assigned to the company code.A chart of accounts can be used by multiple company codes so that the general ledgers of these company codes have an identical structure.General Ledger Account Master Records

Figure 61: G/L Account Master Record

Lesson: Defining General Ledger Master Data


The two segments of the G/L master record are as follows: Chart of accounts segment

The chart of accounts segment contains a description of the account, an indication as to whether the account is a balance sheet account or a P&L account, the account group that controls the company code segment fields, and the consolidation account number.

Company code segmentThe company code segment details how the company code that uses that specific account manages the account.

The following controls are found in the company code segment: Account control Account management Bank or financial details Joint ventures Interest calculation Document control

Account Groups for G/L Accounts

Figure 62: Account Groups for G/L Accounts

Account groups classify G/L accounts into user-defined segments and also determine the number range of the accounts that will fall into these user-defined segments.You determine the field status of the company code segment of the master record when you create, change, or display the company code segment. The field status options are Suppress, Required, Display, and Optional.



Unit 3Exercise 4

Display a Chart of Accounts

Business ExampleAs a result of your companys increased research and development activities, you need to track the expenses of these activities in a separate G/L account. Before you create a new G/L account, you need to verify whether or not there is an existing account. For this reason, you must know how to display a chart of accounts and search for an existing account.Display a chart of accounts.1. Before you create a new G/L account for research and development expenses, you need

to verify whether or not such an account exists. Display chart of accounts INT and search for an R&D expense account.

Does a research expense account exist for your group number ##?


Unit 3Solution 4

Display a Chart of Accounts

Business ExampleAs a result of your companys increased research and development activities, you need to track the expenses of these activities in a separate G/L account. Before you create a new G/L account, you need to verify whether or not there is an existing account. For this reason, you must know how to display a chart of accounts and search for an existing account.Display a chart of accounts.1. Before you create a new G/L account for research and development expenses, you need

to verify whether or not such an account exists. Display chart of accounts INT and search for an R&D expense account.

Does a research expense account exist for your group number ##?

a) On the SAP Easy Access screen, choose Accounting Financial Accounting General Ledger Information System General Ledger Reports (New) Master Data Chart of Accounts (S_ALR_87012326).

b) Enter INT in the Chart of Accounts field.c) Choose (Execute).d) Choose Edit Find. e) Enter R&D in the Find dialog box.f) Choose the Find pushbutton.

Does a research expense account exist with your user##? No. (However, a research expense account can exist if other class participants have already completed the task).

g) Exit the function and return to the SAP Easy Access screen.


Unit 3Exercise 5

Create a General Ledger Account Master Record

Business ExampleAs a result of your companys increased research and development (R&D) activities, you need to track these expenses in a separate G/L account. After verifying that the account exists, you need to create a new G/L account for research and development expenses. For this reason, you must know how to create a G/L account.1. Create a new G/L account for R&D expenses in chart of accounts INT. Use 4043## as the

new account number (## = your group number), and enter R & D - Group ## as short text and G/L account long text. The new account is a P&L statement account that uses the retained earnings account 900000 (for income statement account ([ISA] type = X).For organizational purposes, assign this account to the account group General G/L accounts. It will be mapped to the CONS chart of accounts group using the group account number 312600 (Other General Expenses), and will also be mapped to functional area 0400.

2. Make the new research and development G/L account available for use in company code 1000. The account currency is euro (EUR) and a line item display for the new account is required. The sort criteria when displaying the line items should be by document number and fiscal year sort key 002.The tax category is "-" (only input tax allowed) and postings without tax should be possible. Assign the account to field status group G033.For cash management purposes, assign the account to commitment item 1423.

3. What steps do you perform in order to use the new account in company code 3000? Company code 3000 uses chart of accounts CAUS.


Unit 3Solution 5

Create a General Ledger Account Master Record

Business ExampleAs a result of your companys increased research and development (R&D) activities, you need to track these expenses in a separate G/L account. After verifying that the account exists, you need to create a new G/L account for research and development expenses. For this reason, you must know how to create a G/L account.1. Create a new G/L account for R&D expenses in chart of accounts INT. Use 4043## as the

new account number (## = your group number), and enter R & D - Group ## as short text and G/L account long text. The new account is a P&L statement account that uses the retained earnings account 900000 (for income statement account ([ISA] type = X).For organizational purposes, assign this account to the account group General G/L accounts. It will be mapped to the CONS chart of accounts group using the group account number 312600 (Other General Expenses), and will also be mapped to functional area 0400.a) On the SAP Easy Access screen, choose Accounting Financial Accounting General

Ledger Master Records G/L Accounts Individual Processing In Chart of Accounts (FSP0).

b) On the Edit G/L Account Chart of accts data screen, enter the following data:Field ValueG/L Account 4043## Chart of Accts INT

c) Choose (Create).d) On the Type/Description tab page, enter the following data:

Field ValueAccount Group Select the first entry of

General G/L accounts from the dropdown list

P&L statement acct SelectedP&L Statement Acct type X (INT 900000 Unap.ret.earnings

py)Functional Area 0400Short Text R & D - Group ##


Field ValueG/L Acct Long Text R & D - Group ##Group account number 312600

e) Save your entries.f) Exit the function and return to the SAP Easy Access screen.

2. Make the new research and development G/L account available for use in company code 1000. The account currency is euro (EUR) and a line item display for the new account is required. The sort criteria when displaying the line items should be by document number and fiscal year sort key 002.The tax category is "-" (only input tax allowed) and postings without tax should be possible. Assign the account to field status group G033.For cash management purposes, assign the account to commitment item 1423.a) On the SAP Easy Access screen, choose Accounting Financial Accounting General

Ledger Master Records G/L Accounts Individual Processing In Company Code (FSS0).

b) On the Edit G/L Account Company code data screen, enter the following data:Field ValueG/L Account 4043##Company Code 1000

c) Choose (Create).d) On the Control Data tab page, enter the following data:

Field ValueTax category - (Only input tax allowed)Posting without tax allowed SelectedLine item display SelectedSort key 002 (Doc.no., fiscal year)

e) On the Create/bank/interest tab page, enter the following data:Field ValueField status group G033 (Cost accounts for

external Services)Commitment item 1423

f) Save your entries.g) Exit the function and return to the SAP Easy Access screen.



3. What steps do you perform in order to use the new account in company code 3000? Company code 3000 uses chart of accounts CAUS.a) Because company code 3000 uses chart of accounts CAUS, you need to create the

account in chart of accounts CAUS as well as in company code 3000.



Reconciliation Accounts

Figure 63: Reconciliation Accounts and Subledgers

A reconciliation account ensures real-time integration of a subledger account with the G/L. The reconciliation between subledger and G/L is always guaranteed because the G/L reconciliation account is not enabled for direct posting.In the G/L, postings are limited to reconciliation account types only.

To Determine if a G/L Account is a Reconciliation Account1. Access transaction code FS00: Display the G/L account master record of reconciliation

account 140000 (Trade Receivables) for company code 1000.2. Display the Control Data tab page.

To Display the Reconciliation Account of a Customer Master Record1. Call transaction code FD03: Display customer master record 1000 in company code 1000.2. Display the Account Management tab page within the Company Code data section to show

the assignment of the reconciliation account.



LESSON SUMMARYYou should now be able to: Display a chart of accounts and create a general ledger (G/L) master record Describe the special role of reconciliation accounts



Unit 3Lesson 4

Using the General Ledger

LESSON OVERVIEWThis lesson describes the general ledger (G/L) account posting, account information, and the posting key.Business ExampleYou need to manually create G/L account postings. For this reason, you require the following knowledge: An understanding of how to perform G/L account postings An understanding of the posting key An understanding of how to process an account balance query

LESSON OBJECTIVESAfter completing this lesson, you will be able to: Perform general ledger (G/L) postings Process an account balance query

G/L Account Posting

Figure 64: G/L Account Posting

The posting screen is divided into the following areas:


Work templatesWork templates allow you to select screen variants, account assignment templates, or held documents as references. A held document is a document that a user saves without posting, with the intention to complete and post it later. To return to the original line layout of the G/L document entry table, right-click the screen and choose Reset screen variant.

Header dataHeader data applies to the entire document, and includes the posting date and document type. Some of the header data may be for display only, or hidden from the user using editing options.

Line item informationUsers enter line items for the document in this area.

Information areaThis area displays the debit and credit totals of the document.

The Posting Key

Figure 65: The Posting Key

Each document line item contains one posting key.The posting key has a controlling function for the document items and is also used during complex postings to specify the following information in the system: Account type to be posted Type of posting (debit or credit) Fields of the line item may have or require an entry



Unit 3Exercise 6

Post a G/L Account Document

Business ExampleIn your company, research and development (R&D) expenses have already been incurred but not yet posted to the G/L. You therefore need to post a manual journal entry for these expenses. For this reason, you must know how to create a G/L posting to record the expenses.Post a G/L account document.1. R&D expenses of EUR 5,000 have already been incurred in company code 1000 and now

need to be recorded in the G/L. You must create a G/L posting to record these expenses. Use account 113100 for the offsetting line item. Use the following data:Field ValueDocument Date Todays dateCurrency EURG/L acct (first row) 4043##D/C DebitAmount in doc.curr. 5,000 Tax code V0 (0% domestic input tax)G/L acct (second row) 113100D/C CreditAmount in doc.curr. 5,000

Finally, save your data and note down the FI document number: ______________.


Unit 3Solution 6

Post a G/L Account Document

Business ExampleIn your company, research and development (R&D) expenses have already been incurred but not yet posted to the G/L. You therefore need to post a manual journal entry for these expenses. For this reason, you must know how to create a G/L posting to record the expenses.Post a G/L account document.1. R&D expenses of EUR 5,000 have already been incurred in company code 1000 and now

need to be recorded in the G/L. You must create a G/L posting to record these expenses. Use account 113100 for the offsetting line item. Use the following data:Field ValueDocument Date Todays dateCurrency EURG/L acct (first row) 4043##D/C DebitAmount in doc.curr. 5,000 Tax code V0 (0% domestic input tax)G/L acct (second row) 113100D/C CreditAmount in doc.curr. 5,000

Finally, save your data and note down the FI document number: ______________.a) On the SAP Easy Access screen, choose Accounting Financial

Accounting General Ledger Document Entry Enter G/L Account Document (FB50).

b) If prompted, enter company code 1000.c) On the Enter G/L Account Document screen, enter the following data:

Field ValueDocument Date Todays dateCurrency EURG/L acct (first row) 4043##D/C Debit


Field ValueAmount in doc.curr. 5,000 Tax code V0 (0% domestic input tax)G/L acct (second row) 113100D/C CreditAmount in doc.curr. 5,000

d) Save your entries and record the FI document number: _______________.e) Exit the transaction. If prompted, choose the Yes pushbutton.

Lesson: Using the General Ledger


Account Information

Figure 66: Account Information

The balance display is an overview of the saved transaction figures of an account. You can drill down from the balance to a list of line items that make up the balance.The purpose of the balance display and the line item display is to display account data.The line item display is only possible for G/L accounts for which the line item display has been activated in the master record.From this line item list, you can drill down from the line item to the document containing this line item. To see the complete FI document, choose Document Overview.If there is a real document for this SAP ERP document and even if it was archived, you can still display the same.



Unit 3Exercise 7

Query an Account

Business ExampleAs part of weekly analysis of expenses, you routinely check the balances and the related line items of certain G/L accounts. Query an account.1. To confirm that the G/L account posting was successful, check the balance of account 4043## in company code 1000.Does the document number match the one from the previous exercise?


Unit 3Solution 7

Query an Account

Business ExampleAs part of weekly analysis of expenses, you routinely check the balances and the related line items of certain G/L accounts. Query an account.1. To confirm that the G/L account posting was successful, check the balance of account 4043## in company code 1000.Does the document number match the one from the previous exercise?a) On the SAP Easy Access screen, choose Accounting Financial Accounting

General Ledger Account Display Balances (FS10N).b) On the G/L Account Balance Display screen, enter the following data:

Field ValueG/L account 4043## Company code 1000Fiscal year Current yearBusiness area Leave blank

c) Choose (Execute). Note that the account has a balance of EUR 5,000 for the current period.

d) Double-click the debit balance for the current period to display the line item(s) of account 4043##. The FI document number is already displayed. Does it match?

e) To display the line item, double-click the displayed line.f) To display the FI document, choose Goto Document Overview.

g) Exit the transaction and return to the SAP Easy Access screen.


LESSON SUMMARYYou should now be able to: Perform general ledger (G/L) postings Process an account balance query

Lesson: Using the General Ledger


Unit 3

Learning Assessment

1. Which of the following identifies a self-contained organizational structure for which costs and revenues can be managed and allocated?Choose the correct answer.

X A A company code

X B A controlling area

X C A segment

2. Which of the following statements hold true for a chart of accounts?Choose the correct answers.

X A A chart of accounts is assigned to the company code.

X B Each general ledger is set up according to a chart of accounts.

X C A chart of accounts cannot be used by multiple company codes.

3. Reconciliation accounts are designed for direct posting.Determine whether this statement is true or false.

X True

X False

4. Which of the following statements are true for a posting key?Choose the correct answers.

X A It applies to the whole Financial Accounting (FI) document.

X B It defines the account type to be posted.

X C It defines the type of posting (debit or credit).

X D It specifies the debit and credit totals of the document.


Unit 3

Learning Assessment - Answers

1. Which of the following identifies a self-contained organizational structure for which costs and revenues can be managed and allocated?Choose the correct answer.

X A A company code

X B A controlling area

X C A segment

2. Which of the following statements hold true for a chart of accounts?Choose the correct answers.

X A A chart of accounts is assigned to the company code.

X B Each general ledger is set up according to a chart of accounts.

X C A chart of accounts cannot be used by multiple company codes.

3. Reconciliation accounts are designed for direct posting.Determine whether this statement is true or false.

X True

X False

4. Which of the following statements are true for a posting key?Choose the correct answers.

X A It applies to the whole Financial Accounting (FI) document.

X B It defines the account type to be posted.

X C It defines the type of posting (debit or credit).

X D It specifies the debit and credit totals of the document.


unit 3

Documents

gl accounts

financial accounting

accounting data

gl account designation

gl account document

general ledger gl postings

subledgerthe gl

chart of accounts