16 Questions
What properties are controlled by account groups?
Field status of master fields, number range and whether accounts are P&L or B/S
Under what circumstances can transactions be posted to an account in any currency?
Account currency is different from company code currency
To which type of retained earnings account can P&L account balances be carried forward automatically?
Single retained earnings account, automatically
Which exchange rate type is picked up as default during FI document creation?
Exchange rate maintained for type ‘B’
What conditions must be met to clear open items?
Business area, amount, opposite dr/cr indicator and same entry in fields that are configured for automatic clearing
Which field statuses are controlled by account groups?
Field status of master fields and number range
In foreign currency valuations on G/L accounts, which accounts are considered?
Accounts managed on open item basis having foreign currency transactions and all accounts with account currency different from local currency
How can you display account balances of several related accounts?
Account groups
What are BA/PC adjustments run for?
Balancing company code level balance sheet for inter company transactions
What are fast entry screens in FI used to enter?
G/L, customer and vendor line items
What are easily entered document entry templates called?
Sample document
What are posting keys used to decide?
Dr/cr indicator, field status of transaction screen
How many parallel currencies are possible and at what level are they assigned?
3 local currencies, company code
When you reverse a posted document, what must the document number be?
Internal or external
In which currency can financial statements be generated?
Any currency for which customization is maintained
What views are maintained for vendor master data?
General data, company code data, purchasing data
Study Notes
Account Groups
- Account groups control properties such as field status and exchange rate types.
Transaction Posting
- Transactions can be posted to an account in any currency under certain circumstances.
Retained Earnings
- Profit and Loss (P&L) account balances can be carried forward automatically to a special type of retained earnings account.
FI Document Creation
- The standard exchange rate type is picked up as default during FI document creation.
Clearing Open Items
- Open items can be cleared if certain conditions are met.
Field Statuses
- Field statuses, such as blocked or open, are controlled by account groups.
Foreign Currency Valuations
- During foreign currency valuations on G/L accounts, only relevant accounts are considered.
Account Balances
- Account balances of several related accounts can be displayed together.
BA/PC Adjustments
- BA/PC adjustments are run for certain account types.
Fast Entry Screens
- Fast entry screens in FI are used to quickly enter documents, such as invoices or payments.
Document Entry Templates
- Easily entered document entry templates are called "document templates".
Posting Keys
- Posting keys are used to decide how documents are posted, such as whether a document is a debit or credit.
Parallel Currencies
- Up to three parallel currencies are possible, assigned at the company code level.
Reversing Documents
- When reversing a posted document, the document number must be the same as the original document.
Financial Statements
- Financial statements can be generated in any currency.
Vendor Master Data
- Vendor master data is maintained in certain views.
Test your knowledge of SAP FICO with this quiz featuring questions about account groups and transaction currencies. Practice and prepare for your certification exam.
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