What is special GL in SAP? If it is reconciliation a/c for customer then each customer has two GL A/Cs, one normal & other special GL

malini.007

 Profile Answers by malini.007 Questions by malini.007

• Jul 16th, 2009

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.

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If your Accounts receivable balance in the general ledger has a debit balance of $110 and your sub ledger has a debit balance of $100 what do you have to do

faizan_hafiz

 Profile Answers by faizan_hafiz Questions by faizan_hafiz

• Jul 21st, 2009

Enter the debit memo in the subledger or enter the adjustment in GL.

gmril

 Profile Answers by gmril Questions by gmril

• Jan 17th, 2008

We need to pass a rectification entry in subsidary ledger for $10...

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bamaboy

 Profile Answers by bamaboy Questions by bamaboy

• Dec 18th, 2009

The important tables in Finance are as belowAccount Payables:DISTRIB_LINEPAYMENT_TBLPYMNT_VCHR_XREFPYMNT_XREF_VWVCHR_ACCTG_LINEVENDORVENDOR_ADDRVOUCHERVOUCHER_LINEAsset ManagemntASSETASSET_ACQ_DETASSE...

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How to Create Profit and Loss Account andHow to Create Balance Sheet Using FSG.. Outline in simple Steps.

sudhi0381

 Profile Answers by sudhi0381 Questions by sudhi0381

• Sep 21st, 2010

Internal Acqusition of an asset means, when an asset is built inhouse by creating an AUC(Asset Under Constuction), and then once the assets is fit to use for Production, its get capitalized as Complet...

atelkar

 Profile Answers by atelkar Questions by atelkar

• Sep 15th, 2010

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.

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Karuppasamyvm

 Profile Answers by Karuppasamyvm Questions by Karuppasamyvm

• Nov 18th, 2010

GL reconciliation means Account payable , Accounts receivable ledger balance compared with General Ledger balance and it should be tallied.  If not tallied we have to do the reconcliation. 

Arun K Rajan

 Profile Answers by Arun K Rajan Questions by Arun K Rajan

• Aug 1st, 2007

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 iden...

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sreejithsr

 Profile Answers by sreejithsr Questions by sreejithsr

• Nov 28th, 2010

In Single Entry System Cash / Bank transactions mentioned in same column But double  entry transactiones mentioned in seperated by Cash & Bank column.

mrforever

 Profile Answers by mrforever Questions by mrforever

• Jan 21st, 2008

Single Entry is an incomplete record of book keeping Whereas Duble Entry is an complete record of book keeping.

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Nseek

 Profile Answers by Nseek Questions by Nseek

• Jan 31st, 2011

Yes they are Period to date, Quarter to date and Year to Date but you read them like the following when working inside Oracle E-suite (accounting software) for example.PTD means amounts entered in a s...

Arun K Rajan

 Profile Answers by Arun K Rajan Questions by Arun K Rajan

• Aug 1st, 2007

Period to date for ex - can be same as YTD if period = 1 yearquarter to date for ex - 1st qtr of calender year - Jan,Feb,Mar, All financial items (revenue+expenses) Jan-Feb is QTD Febyear to date for ex - if fiscal year Jan-Dec - all financial items (revenue + expenses) from Jan-Aug is YTD Aug

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Basit Mursaleen

 Profile Answers by Basit Mursaleen Questions by Basit Mursaleen

• May 11th, 2011

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

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Hi Friends,I have a problem with suspense account. I been working for some organization and they have been getting this suspense account error since 2003. But its a big organization and they didn't consider it as a problem so far..but now-a-days this suspense account is increasing rapidly and decreasing rapidly.. Could you pls tell me how to clear this suspense account. They are using Oracle Applications...

Hemant Balodia

• Jul 25th, 2011

I have worked for "Westpac Banking corporation" which is largest bank of Australia. I was in suspense team. In suspense accounts generally value comes when the values moves from sub ledger to ledge...

raghunath

• Jul 23rd, 2011

To clear suspends account in oracle finance.we have to assign suspends account type in at our chart of accounts as liabilities account type.in values of account segment.then go to accounting setups op...

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Hi, I’m looking for job into General ledger reconciliations, can some one send list of possible questions along with answers in word doc. Or pdf. Format, which will be very useful to face the interview board,
Regards,
Venu.

NAVEEN

• Nov 25th, 2011

Group chart of accounts used for consolidation purpose

keshav311

 Profile Answers by keshav311 Questions by keshav311

• Jul 5th, 2007

Group coa isa corporate level glsbasically used at consolidation level these coa will be viewed by the directors of the corporate comapny with diffrent gl numbers otherthan operative coa and country spcific coa these gl nos should not be over laped

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(It was asked in an Interview)

rejo

• Dec 23rd, 2011

General ledger includes all ledgers after adjusting the balance where as final accounts is arranging ledger balance to get profit and loss as well as to know the finacial position.

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what is the meaning of "the account of chart"?

Devendra

• Mar 15th, 2012

Chart of Accounts is nothing but list of G/L Accounts used by the one r more company codes....the chart of accounts contains the account no & account name.the chart of accounts is the operating chart of accounts used for the daily postings in company code.

vrkirank

• Oct 31st, 2011

Chart of accounts is the structure of Accounts {its the combination of Segments, Segment Qualifiers & Segment Values}

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Every increase in expenditure & assets will be a debit, every decrease in expenditure & assets will be a credit - Put a journal entry and show a puchase transaction.

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sivareddy.bommu  

 Profile Answers by sivareddy.bommu Questions by sivareddy.bommu

• Member Since Oct-2009 | Oct 13th, 2009

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Non Cash Transactions Should be Recorded In Journal Entry.

For Ex:

Salaries A/c  Dr xxxxx

 To Salaries Payble A/c xxxx.

Nishanth Loyal

• Sep 12th, 2012

Journal entry means entering the all financial transactions of the business in a chronological order using golden rules. Also the narration will be given to all the entries. Each transations having tw...

sivareddy.bommu

 Profile Answers by sivareddy.bommu Questions by sivareddy.bommu

• Oct 13th, 2009

Non Cash Transactions Should be Recorded In Journal Entry.For Ex:Salaries A/c  Dr xxxxx To Salaries Payble A/c xxxx.

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Why do we perform reconciliations? Are reconciliations part of financial statements?

LAVANYA

• Jan 9th, 2013

Yes reconciliation is necessary in financial statement .

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As a sole trader you require a vehicle to trade and decide to lease the vehicle rather than purchase it, how would you account for it in the company accounts and what nominal would you use?

ANIL

• Oct 23rd, 2013

Hi, Would you please give any example to explain the below question because i am not able to understand plzzzzz As a sole trader you require a vehicle to trade and decide to lease the vehicle rather ...

sivaram addagada

 Profile Answers by sivaram addagada Questions by sivaram addagada

• Sep 15th, 2010

I will open an vehicle owner account under hire vehicles a/c under current liability a/c.

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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...

ganesh mane

• Nov 27th, 2013

X A/C Dr .......
TO Y A/C Cr......

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If a manpower supplier is a proprietor & service receiver is LTD company. Due to RCM amendment service provider 25 % service tax & service receiver is paying remaining 75% Service Tax. So what will be general ledger entry in above cases in SAP. & what will be general entry at a time of cenvat credit ?

Plz lets know

GVR

• Dec 4th, 2013

For service provider portion Expense A/C Dr Service tax deposit A/C Dr ?? To Creditor A/C For Service Receiver portion First you have to create a service tax payable A/C and a vendor A/C in the name...

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