The definition of chart of accounts contains:
a. Key
b. Name
c. Length of GL Account
No. (Max 10)
d. Block Indicator
Hints: 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.
Q. One chart of accounts can be assigned to several company codes.
A complete G/L account consist of 2 segments
a. A chart of accounts
segment
b. At least one
company code segment
Q. Chart of account segment of GL Account comprises of following
a. Account Number
b. Name of Account (short/long
text)
c. Control fields (GL
Account Group, Balance sheet account / P&L)
d. Consolidation fields
Q. The company code segment contains information that refers exclusively to the concerned company code.
a. Currency
b. Tax
c. Reconciliation account
e. Line Item Display
f. Name of Account (short/long
text)
g. Sort Key
h. Field Status Group
Q. If the company is using one retained earning, the field of Proft & Loss statement account type is hidden.
The concept of GL account Group is to control.
a. Group of accounts of same type
b. Number Ranges
c. Field status
There are to options to control field status
a. Account group specific
(at the time of creation)
b. Transaction specific
(display-change-create)
Q. We define alternative reconciliation account for downpayment, then when our reconciliation account is updated?
Let us see what is reconcillation account. In accounting there are main three types of subledger account is there, like vendor, customer and Assest. For vendor, customer and asset seperater vendor master account, customer account and asset account will be there. These account not going to reflect in Balance sheet as vendor account. So these subledger accounts are mapped into Reconcillation account for the group of vendors or customers according to their type. So in balance sheet this will be comes under sundry creditors, sundry debtors.
So whenever payment made in advance ,what we call in SAP as down payment i.e., without booking any liability we have to pay money. so there is seperate type of mapping exist for the down payment. So when payment down payment made the entry for say vendor will be
Vendor alternative recon account - Dr - 111111
Bank account - Cr - 222222
After the bill received :
Expenses account - Dr - 333333
Vendor Reconcillation account - Cr - 444444
Clearing of down payment.
Vendor Reconcillation account - Dr - 444444
Vendor Alternative recon account - Cr - 111111
So after bills produced the alternative reconcillation account cleared against vendor reconcillation account.
Q. What is controlled by Account type?
There are Five type of Account type:
1.Vendor
2.Customer
3.Material
4.Assets
5.GL accounts
These are used to define the Vendor account and also used for open and close for the period.
Q. In automatic payment program, what is the need for proposal?
In automatic Payment Program, you can create the payment advice and cheque automatically without doing in manual way.
Proposal used for intermediate checkin against the date you upload into. you can check the proposal , you can also block the payment for particular vendor by way of editing the proposal.
