1) What is Client?
A) In Commercial, Organization and Technical terms, a self-contained unit in an r/3 system with separate master records and its own set of tables.
2) What is Company?
A) Smallest Organization unit of which individual financial statements are created according to legal requirements.
3) What is Company Code?
A) Smallest Organization unit of external accounting for which set Of accounts can be created.
4) What is Business Area?
A) It is an Organization unit that corresponds to a specific business segment or area of responsibility in a company.
5) Profit center?
A) A Profit center accounting is main purpose is to provide the client with an opportunity to analyze and report internal profitability for its organization.
6) What is Fiscal year Variant and what is its uses?
A) Variant defining the relationship between the calendar and fiscal year. The fiscal year variant specifies the no. of periods and special periods in a fiscal year and how the system is to determine the assigned posting periods.
7) What is the use of Posting Key?
A) Posting key Controls whether
the line is debit or credit and it will be used to post line items in a
particular document.
For Example
Accounts
Dr Cr
GL posting
40 50
Vendor invoice
40 31
Customers
01 50
Assets
70 75
8) What is Document type?
A) Document Types controls the nature of Business Transactions whether it is vendor invoice, payments, expenses, revenues etc.
9) What is posting periods?
A) Order to manage identical posting periods in several posting periods in several company codes, maintain one posting variant.
10) What is posting period variant?
A) Posting period variant which controls posting periods, both normal and special periods are open for each company code. The posting period is independent of fiscal year variant.
11) What is Field Status Group Variant?
A) FSGV controls the additional
account assignments and other fields that can be posted at the line item
level for GL a/c. FSGV can be control at three level i.e.,
1) In OBC4 (ch of a/c’s)- which
controls the screen for a particular GL a/c group,
2) Posting Keys- which controls
the screen for a particular posting key transaction is taken, &
3) Accounting Groups- which controls
the screen for a particular account group i.e., customer group or vendor
group.
12) What is Chart of A/c’s and types of chart of a/c’s?
A) All general ledger accounts grouped together is called ch of a/c’s.
There are 3 types of chart of accounts i.e., 1) Operational ch of a/c’s- used for daily transaction purposes 2) Group Ch of A/c’s – It is used for company consolidation purpose & 3) Country Specific Ch of A/c’s – Used for particular country legal entity purpose.
13) What is Reconciliation account?
A) When you post items to a subsidiary ledger, the system automatically posts the same data to the general ledger. Each subsidiary ledger has one or more reconciliation a/c’s in general ledger, we cannot post directly.
14) What is special GL a/c?
A) The transaction other than AR & AP is called a special GL a/c . Example Bills of exchange, Interest payables, bank bills, guarantees, & reserves for bad debts etc.
