SAP FICO Certification: Currency Transactions, Parallel Currencies & Document Entry Templates

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What properties do account groups control?

Field status of master fields, number range, and whether accounts are P&L or B/S (correct)

Field status of master fields

Field status of transaction fields

Field status of master fields and number range

Under what circumstances can you post transactions to an account in any currency?

Under all circumstances

Account currency is not maintained

Account currency is different from company code currency (correct)

Account currency is same as local currency of the company code

To which accounts can you carry forward P&L account balances?

Single retained earnings account, automatically

Single retained earnings accounts, through period end processing (correct)

Multiple retained earnings accounts, through period end processing

Multiple retained earnings accounts, automatically

What determines the default exchange rate picked up during FI document?

Exchange rate maintained for type ‘B’ (D) Signup and view all the answers

When can you clear open items?

Business area, amount, opposite dr/cr indicator, and same entry in fields that are configured for automatic clearing (A) Signup and view all the answers

In what situations can you post transactions to an account in any currency?

Account currency is different from company code currency (C) Signup and view all the answers

When running foreign currency valuations on G/L accounts, which accounts are included?

Accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency (C) Signup and view all the answers

How can you display account balances of several related accounts?

Worklists (D) Signup and view all the answers

What are Fast entry screens in FI used to enter?

G/L, customer and vendor line items (A) Signup and view all the answers

What are easily entered document entry templates called?

Sample document (A) Signup and view all the answers

What decisions are made using posting keys?

Dr/Cr indicator, field status of transaction screen, account types, special G/L applicability (C) Signup and view all the answers

How many parallel currencies are possible and at what level are they assigned?

3 local currencies, company code (B) Signup and view all the answers

What type of document number must be assigned when reversing a posted document?

Internal or external (A) Signup and view all the answers

In which currency can financial statements be generated?

Local currency (A) Signup and view all the answers

What views are maintained for vendor master data?

General data, company code data, purchasing data (D) Signup and view all the answers

What type of line items are entered using Fast entry screens in FI?

G/L, customer and vendor line items (B) Signup and view all the answers

How many parallel currencies are possible and at what level are they assigned?

3 local currencies, company code (D) Signup and view all the answers

When reversing a posted document, what must the document number be?

Internal or external (A) Signup and view all the answers

What accounts are included when running foreign currency valuations on G/L accounts?

Accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency (B) Signup and view all the answers

How can you display account balances of several related accounts?

Account groups (B) Signup and view all the answers

What are easily entered document entry templates called?

Sample document (C) Signup and view all the answers

What are posting keys used to decide?

Dr/Cr indicator, field status of transaction screen, account types, special G/L applicability (D) Signup and view all the answers

What properties do account groups control?

Field status of master fields, number range and whether accounts are P&L or B/S (C) Signup and view all the answers

Under what circumstances can you post transactions to an account in any currency?

Account currency is different from company code currency (B) Signup and view all the answers

When can you carry forward P&L account balances?

Single retained earnings accounts, through period end processing (A) Signup and view all the answers

What determines the default exchange rate picked up during FI document?

Exchange rate maintained for type ‘B’ (D) Signup and view all the answers

Under what conditions can you clear open items?

Business area, amount, opposite dr/cr indicator and same entry in fields that are configured for automatic clearing (A) Signup and view all the answers

In which scenario can you post transactions to an account in any currency?

Account currency is different from company code currency (C) Signup and view all the answers

Study Notes

Account Groups and Properties

Account groups control various properties.

Posting Transactions

Transactions can be posted to an account in any currency when the account is set up as an open item managed account or when the transaction is marked as a non-valuated transaction.

Carrying Forward P&L Account Balances

P&L account balances can be carried forward to retained earnings accounts.

Default Exchange Rate

The default exchange rate is determined by the exchange rate type assigned to the company code.

Clearing Open Items

Open items can be cleared when they are fully paid or when the payment amount is equal to the invoice amount.

Foreign Currency Valuations

When running foreign currency valuations on G/L accounts, only accounts that are relevant for translation are included.

Displaying Account Balances

Account balances of several related accounts can be displayed using account groups.

Fast Entry Screens

Fast entry screens in FI are used to enter line items quickly and efficiently.

Document Entry Templates

Easily entered document entry templates are called document templates.

Posting Keys

Posting keys are used to decide the posting status, posting date, and document type of a transaction.

Parallel Currencies

Up to three parallel currencies can be assigned, and they are assigned at the company code level.

Reversing Posted Documents

When reversing a posted document, the document number must be a reversal document number.

Financial Statements

Financial statements can be generated in the local currency, as well as up to two parallel currencies.

Vendor Master Data

Vendor master data is maintained in multiple views, including the general data, company code data, and purchasing data views.

Document Entry

Line items, such as invoices, credit memos, and payments, are entered using Fast entry screens in FI.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge on SAP FICO with these certification questions and answers. This quiz covers topics such as account groups and their control properties, as well as posting transactions to accounts in different currencies.

SAP FICO Certification: Account Groups and Currency Transactions

Choose a study mode

Podcast

Questions and Answers

What properties do account groups control?

Under what circumstances can you post transactions to an account in any currency?

To which accounts can you carry forward P&L account balances?

What determines the default exchange rate picked up during FI document?

When can you clear open items?

In what situations can you post transactions to an account in any currency?

When running foreign currency valuations on G/L accounts, which accounts are included?

How can you display account balances of several related accounts?

What are Fast entry screens in FI used to enter?

What are easily entered document entry templates called?

What decisions are made using posting keys?

How many parallel currencies are possible and at what level are they assigned?

What type of document number must be assigned when reversing a posted document?

In which currency can financial statements be generated?

What views are maintained for vendor master data?

What type of line items are entered using Fast entry screens in FI?

How many parallel currencies are possible and at what level are they assigned?

When reversing a posted document, what must the document number be?

What accounts are included when running foreign currency valuations on G/L accounts?

How can you display account balances of several related accounts?

What are easily entered document entry templates called?

What are posting keys used to decide?

What properties do account groups control?

Under what circumstances can you post transactions to an account in any currency?

When can you carry forward P&L account balances?

What determines the default exchange rate picked up during FI document?

Under what conditions can you clear open items?

In which scenario can you post transactions to an account in any currency?

Study Notes

Account Groups and Properties

Posting Transactions

Carrying Forward P&L Account Balances

Default Exchange Rate

Clearing Open Items

Foreign Currency Valuations

Displaying Account Balances

Fast Entry Screens

Document Entry Templates

Posting Keys

Parallel Currencies

Reversing Posted Documents

Financial Statements

Vendor Master Data

Document Entry

Studying That Suits You

Description

More Like This

SAP FI/CO Basics Quiz

SAP FICO MCQ Questions and Quiz with Answers

SAP Cert Chapter 10 Flashcards