Ledger

Problem statement- There are 2 Regions in a country REGION X & REGION- Y REGION X is closed and GL Trial Balance (TB) is transferred to REGION Y books ( X-TB is uploaded in Y books like a journal we do normally)- No Sub Ledger (SL) level transfer was done There was 1 invoices lying AP SL in X books ( xx722002 )- for 1000 GBP When TB was uploaded in Y books xx722002 was automatically credited by 1000 GBP in Y books Questiion 1- in this scenario are we going to have a mismatch in AP-SL of Y books if yes then how to correct the same. Question-2- can we transfer the SL of X to Y without impacting the P&L & B/S ( creditors account)??

Single entry system use only Debit or Credit only. If the payment made there is only one one debit only but Double entry system means for every Debit there is opposite Credit also there.

Example : cash payment made some one

debit for party at the same time credit to Cash.

period to date for ex - can be same as YTD if period = 1 year

quarter to date for ex - 1st qtr of calender year - Jan,Feb,Mar, All financial items (revenue+expenses) Jan-Feb is QTD Feb

year to date for ex - if fiscal year Jan-Dec - all financial items (revenue + expenses) from Jan-Aug is YTD Aug

GL Reconciliations are list of items that make up a GL account. For example, list of current unreversed accruals in a Sundry Creditors Balance sheet account. The items in Reconciliation should be identified and regularly monitored on a monthly basis to ensure items reverse out in late periods or are charged out to P&L.

In this case you have to have a additional field in the COA called "Alternate Account". Your month end consolidated reports must be based on the alternate account.

Example: Retail sales company has 52000.000 as the Purchase account

Property Management Co. has 54240.912 as the Purchase account

Both these account will have a common "alternate" account example CO52000.000

Please note - If you are using alternate accounting; ensure "Account Creation" is in the hands of "Central" finance so that they can allocate a "alternate number"

We can exceed the funding budget through using alternative depreciation methods and through borrowing short term loans.

Asset becomes capitalised when it is bought for profit motive, as an investment, and most important : when it is used.

Asset available within an organisation - Internal Asset.

Asset where they are present physically out of organisation - External Asset.

After transferring the subsidiary data to the parent set of books, combine the subsidiary and parent data.

Once parent and subsidiary data has been combined, enter eliminating journal entries.

* Choose the State Controller's Eliminate button to create journal entries in the parent set of books for consolidation eliminations.

* Create elimination sets with which you can define eliminating entries that repeat every accounting period.

Special GL is an GL other than the normal GL for AR and AP. Like Down payments (made or received), Bills of exchange etc.

Yes, there would be two accounts for a particular client one normal and one special.

consolidation is a gathering the information in sap for specific purpose and useful information for management

If the company is being reimbursed by another organization for the expense incurred earlier then it will be a credit to the expense account. If the expense was over accrued and the actual is lower than the accrual then it will be reversing entry reducing the expense.

Direct Expenses are those expenses which are incurred in relation to manufacture of products directly Eg: Machinery repairs, Labour, Factory etc.

Indirect Expenses are those expenses which are incurred after manufacturing of goods. Eg: Administrative Exp, Advertisement, Selling & Distribution etc.

Cash Flow statement is a generate income, not the invoices. there are two types of cashflow 1.

Inflow 2. Outflow

1 Inflow: eg. if you received cash from your credit customers,

you will decrease your debtors and it's become inflow to your cashflow statement. Therefore, it's mean that whenever u received in cash that is called inflow.

2.

Outflow: eg. if you made a payment to your suppliers, you will decrease your

creditors and it's outflow, therefore decrease in creditor is outflow.

A template used for document creation in which default values are provided for the posting of a business transaction.

An account assignment model may contain any number of G/L line items, and can be changed or enhanced as needed. Unlike sample documents, account assignment models may contain incomplete G/L line items.

Transaction Code used - Fast Entry (F-02).

t/code ob53, give COA and then type X or Y in pl account head and then give the account number in the acoount head.... this u can create prior to the creation of the account group reserve and surplus as well as after creating the account group .....

Fiscal Year means the financial year .In india it is April to march. In singapore it is July to june. In hongkong it is Jan to dec.

Normal year is nothing but english calendar year jan to dec. If the company operating more than countries and it faces such a situation changes in finacial year , they will go for comparison analyis. in such that case the company may suggests all the country to follow the uniform year for make a conclusion.

Captial A/c , Drawings a/c , Fixed assets purchasing and so on. According to the double entry system each transaction have two side debit and credit. there are some transaction satisfied with balance sheet items. For ex, advance given to manager for travelling. Mangaer is to be treated like debtors. other side cash is going outside will cash balance both items appear in assets side of the balance sheet.

every project has 5 phases.

In the first phase u define the business process. in this the client entire business structure represents.

in the second phase u define the blue print according to the requirement of client as specified in business process document(1 phase).

in the third phase u map the blueprint into SAP while defining and integration some problems will appear.ex posting periods,

the problems appearing in the realization phase basing on blueprint are called GAP. function consultants are together solve these GAPS.

General ledger contains all the ledger accounts including vendors,customers, revenue, asset & liability account type which are ultiamtely part of Chart of Accounts applicable for a particular company code.