Sr No: Questions

1 What is fi-g/l (financial- general ledger) accounting does?

2 What is the default exchange rate type that is picked for all
transactions in sap?
3 What is a country chart of accounts?

4 What are the new changes in sap s/4 hana in gl accounting?

5 Explain tolerance in transaction posting?

6 How do you create gl account master data?

7 Is it possible to change an existing b/s gl to p&l?

8 Why doesn’t the system allow you to change the tax

category in g/l master?
9 In your company you have large number of g/l accounts,
how can you manage them effectively?
10 What is special gl ledger?

11 How many retained earnings a/c can be defined?

12 What is collective processing of gl accounts?

13 What is individual processing of gl accounts?

14 Explain the most common g/l reports in fi?

15 When g/l document is not complete and you want to save
the document at later stage, how can you manage this in fi?

16 If you want to carry forward the balance from one fiscal year
to next fiscal year. Which account type you should use?

17 Tcode to assign retained earning g/l

18 What are the component of gl documents?
19 What are the different steps involved in g/l posting?

20 What is a chart of account and how many charts of accounts

can be assigned to a company?

21 What does the definition of a chart of account contain?

22 Can one coa be assigned to several companies?

23 What is account group and what does it control?

24 What is reconciliation account; can you directly enter

documents in that a/c?

25 How do you control field status of g/l master records and

from where do you control?

26 What are the segments of g/l master record?

27 What does field status group assign to a g/l master record

controls?

28 What is country and operational chart of account? Why do

you use group chart of account?

29 Name few of the tables in g/l accounting and customizing in

fi?
30 Posting to a blocked g/l master record gives a warning and
then lets the user post to the master record. True/false

31 Give some examples of g/l accounts that should be posted

automatically through the system and how is this defined in
the system?

32 Where are an account group and where all is it used?

33 To manage foreign currency bank accounts, the g/l master

record must have the same currency as the foreign currency
bank account. True/false
34 What is partner g/l

35 What is g/l account type

36 What is trading partner no

37 When do we click on balance in local currency only?

38 What is tax category

39 What is open item management

40 What is post automatically only

41 When do we tick on relevant to cash flow?

42 What is cost element category

43 Tell me the two uses of ‘blocking’ an account?

44 Tcode for creating chart of accounts

45 Give an example of g/l accounts that the system posts
automatically through the system. How do you define it in
the system?
46 Do we need to configure additional ledgers for parallel
currencies?
47 If there are two company codes with different chart of
accounts how can you consolidate their activities

48 What does the chart of account definition consist of?

49 Why the financial statements are important for any

business?

50 What is the document split and what its important?

51 What are the customising prerequites for documemt spiltting

52 What is universal ledger

53 What is extension ledger

54 What is underlying ledger
55 What is leading ledger

56 What is the use of profit centre field in document splitting?

57 How to activate document splitting?

58 Tcode to activate document splitting

59 What is acdoca?

60 What is sort key?

61 What is cost element category in fs00

62 What is the difference between gl and cost element?

63 What is active splitting

64 What is passive splitting

65 What is zero balancing accounting

66 Use of fb50

67 What is gl planning?

68 What is line item display?

69 What is the tcode to view gl balances?

70 What are the customizing prerequisites for document
clearing?

71 What are the types of gl accounts in sap?

72 How many ledgers are there in sap?

73 Tcode for ledger?
74 What are the 4 sections in general ledger?

75 What is the length of general ledger in sap?

76 How is account type connected to document type?

77 Differentiate between the parking and the holding of

documents?

78 What is an automatic posting?

79 What is clearing?

80 Explain reversal of documents in sap?

81 In the assignment field in the document, you get the

reference, where does it come from?

82 What are the organizational assignments in asset

accounting?

83 Posting in a g/l account is controlled by which object?

84 The g/l account for a bank is linked to which gl?

85 What are the prerequisites of setting up cross company code

transactions?

86 Your customer runs a sap erp system with new general

ledger accounting activated. What do you need to do for
profit centre updates to be part of the general ledger?

87 You need to assign more than one company code to one

controlling area. Under what kind of a business scenario
would you need to consider such a decision?
88 You want to define a validation for the combination of
general ledger account and cost center. For which call-up
point do you define this validation?
89 When can you set the open item management indicator in a
general ledger account?

90 You assign currency type 10 to your company code in ledger

gl. Which source currency types can you select?
91 Which statements best describe extension ledgers in sap
s/4hana? You are responsible for configuring document
splitting. What are some of the key settings?
92 What does the document splitting functionality do?

93 How does the system perform normal journal entry

reversals?
94 You forgot to add a new general ledger account to the
financial statement version. What impact does this have on
the net profit and net loss?
95 When can you set the open item management indicator in a
general ledger account?

96 Which prerequisites must be fulfilled to allow for negative

postings of journal entries?

97 Your customer wants to use data aging for the universal

journal. Which criteria can you use to decide which data is
moved to the historical partition?
98 Fields that cannot be changed while changing parked
documents.

99 You forgot to add a new general ledger account into the

financial statement version. What impact does this have on
the net profit and net loss?
100 Which currency valuation program is replaced by FAGL_FCV
Answers
General Ledger (G/L) accounts are used to provide a picture of
external accounting and accounts and to record all the business
transactions in a SAP system.
M

The country chart of accounts in sap helps to meet the country-

specific legal requirements
FAGLFLEXT –Total Table
Parallel Accounting
Document Splitting
Tolerances referred as payment differences. In SAP, tolerance group
normally defines to make sure that employee do not exceed their
authority while posting financial transactions.
FS00
If there is a balance on the old account, write it off to the P & L by all
means but DO NOT change a B/S account into a P&L account. It goes
against all instincts of any accountant and it will cause more problems
than it solves. > It is not at all suggestable to change the GL from BL to
P&L. But u can change it.

IT mean that the balance has to be transferred out to some other

account and made nil, before changing the tax code
you can use Chart of Accounts group to effectively manage and control
large number of G/L accounts
Special G/L transactions are special transactions in accounts receivable
and accounts payable that are recorded in the General Ledger in
alternative reconciliation accounts instead of the normal
Vendor/Customer reconciliation accounts

technically unlimited.but recommeded 1 or 2 maximium

Collective processing (also known as mass processing) contains various
functions with which you can change G/L account master records.

You can access INDIVIDUALLY processing of G/L account master

records from the G/L accounting menu as well as from General Ledger
Accounting Customizing. Select
S_ALR_87012326
PARK OR HOLD THE DOCUMENT

RETAINED EARNING ACCOUNT

OB53
Reconciliation Keys.
Negative Postings.
Updating General Ledger Account Transaction
Contract Accounts Receivable and Payable
Document Splitting in the General Ledger.
Profit Centers in Contract Accounts Receivable and Payable.
Transferring Postings to the General Ledger.
Document Entry.
G/L Account Posting - Enjoy Transaction.
Change Document.
Document Display.
Document Reversal.
Clearing and Posting Specific to Ledger Groups.

A chart of accounts (COA) is a financial, organizational tool that

provides an index of every account in an accounting system. One

A chart of accounts (COA) is a financial, organizational tool that

provides an index of every account in an accounting system.

YES
An Account group controls the data that needs to be entered at the
time of the creation of a master record. Account groups exist for the
definition of a GL account, Vendor and Customer master. It basically
controls the fields which pop up during master data creation in SAP

Reconciliation account is the link between General Ledger and sub

ledgers. we can't use reconciliation A/c to post a document directly.

Go to the account group creation screen by using transaction code

OBD4 and double click on any of the account group that you have
created to take you to the field status group maintenance screen.
From here you can manage the entire display of your company code
segment of your general ledger account.

General Ledger masters are created to record financial transactions

related to a company code (CC). It has two segments known as
company code segment and chart of account segment

Field status group is assigned to GL account. Through field status

group, one can define a field as optional, suppressed, or mandatory.
According to the field status groups, respective fields will be displayed
are mandatory or suppressed when the postings are made to that GL
account.

Normally all company codes use the same operational chart of

account irrespective of country. But some countries have legal
requirement to prepare financial reports using specific accounts. This
can be achieved using country chart of account in sap.

BSEG

TRUE

Basically Posting Automatically will be selected for GL accounts where

manual postings will not happen. Means take a example of Cash
Discount, Foreign Exchange Difference accounts these accounts will be
posted automatically.

An account group is a segregating or grouping the similar accounts in

to single group. Each account group in SAP is assigned to a chart of
accounts, so you can only use account group if the controlling areas
use the same chart of accounts.

TRUE
Trading partner in FS00 is used when we are dealing with
intercompany postings.
A general ledger (GL) is a set of numbered accounts a business uses to
keep track of its financial transactions and to prepare financial reports.

Trading partner in FS00 is used when we are dealing with

intercompany postings.
When creating a G/L account in a company code, you can decide
whether the transaction figures are only kept in the local currency for
this account.
The tax category allows entry of the tax classification indicator in the
customer master data and material master data
Open item management enables you to check which receivables and
payables are outstanding.
Accounts for which you do not do Manual Postings, you will select
post automatically only. For example Interest accounts
Relevant Cash Flows field determines that the GL account is a cash
flow account.
This cost element category is used for costs from sales orders with
incoming orders in the current period of the project-related incoming
order.
A blocked account generally refers to a financial account that has
some limitations or restrictions placed upon it, temporarily or
permanently.
FS00
When this indicator is selected, only the system can post to this
account based on configuration in the account assignment

The main purpose of using parallel currencies is to maintain the G/L

accounts in different currencies.
Group chart of account is assigned to the company code's chart of
account. Then the group account number can be given in the gl
account in FS00.
the chart of accounts organizes your finances into five major account
types, called accounts: assets, liabilities, equity, revenue, and
expenses.

Financial statements provide a snapshot of a corporation's financial

health, giving insight into its performance, operations, and cash flow.

Document Splitting Rule: Document splitting rule determines which

item categories will be split and from which item categories it will
derive ...
Classify GL Accounts for Document Splitting
Classify Document Types for Document Splitting
Define Zero Balance Clearing Account
Define Document Splitting Characteristics for General Ledger
Accounting

Universal Journal brings together a collection of heterogenous ledgers

relevant to business data and transactions, unifying master data and
applications components into one single source of truth across
Financial Accounting

Postings can be specifically made in extension ledger

The underlying ledger is a standard ledger. Postings made to standard
ledgers will only be reflected in standard ledger.
The leading ledger is assigned to all the company codes. A Leading
ledger contains the same setting like currencies, fiscal year variant,
and posting period variant that apply to the company code.

The document splitter plays a crucial part in the derivation of profit

center and consequently in the preparation of management financial
statements.
Select check box “Document Splitting” and apply appropriate method.

ACDOCA is a standard General Ledger Accounting Transparent Table in

SAP FI application, which stores Universal Journal Entry Line Items
data.
A sort key is a field in your table that determines the order in which
the data is physically stored in the database
A cost element category is a critical function in the management
accounting module that determines whether a posting can be done
directly or indirectly.
We can not call it as a difference but G/L account is a FI module entity
while cost element is a CO entity w.r.t SAP. In the CO (Controlling)
module of SAP, the term Cost Element is used. In the FI(Financial)
module, the term G/L Account is used.

Active document splitting means document splitting basing on the

Business Transaction/Transaction Variant assigned to the document
type and the Item Category assigned to the GL account

Passive document splitting creates a reference to existing account

assignments. For example, when you want to enter a document to
clear two receivables. In this case, the system transfers the account
assignments for the line items (the receivables) to the line item to be
created.

For account assignment objects for which you want to have a zero
balance setting, the system checks whether the balance of account
assignment object is zero after document splitting.
Transaction FB50 allows for the creation of journal vouchers (an
accounting document made up of only line items) within the G/L
module.
Planning function in General Ledger Accounting is use to have forecast
values for Profit & Loss GL Account & Balance Sheet Accounts

You use line item display to display the document line items from the
account.
FBL3N
The customizing pre-requisite for document clearing is to check the
items cleared and uncleared, and this is done by open item
management
X – Balance Sheet Account à Balance Sheet Accounts.
N- Non-operating Expenses or Income à Profit & Loss account used
only in FI (Without CO).
P- Primary Costs or Revenue à Profit & Loss account used both in FI &
CO.
S- Secondary Costs à Profit & Loss account used for allocations in CO.

3
FINSC_LEDGER
In accounting, a general ledger is used to record all of a company's
transactions. Within a general ledger, transactional data is organized
into assets, liabilities, revenues, expenses, and owner's equity.

10
The document type determines how document numbers are assigned

Hold document is to hold the document before posting if you require

any clarifications. Park document is mainly requires Approval levels.

When posting documents, the system adds automatically created line

items to manually entered items when necessary. For example, the tax
amount,
Clearing takes place at line item level i.e individual lines in an FI
document are cleared via various standard transactions depending on
the type of account in the line item (Vendor, Customer or G/L account)

Reversal documents are created containing all document line items for
the original documents with reversed plus/minus (+/-) signs

The Assignment number field of a customer or vendor or general

ledger document, if not manually populated, will be automatically
populated with the data from the header or line item of the document
as per the sort key assigned to the customer or vendor of general
ledger master record.

In Asset Accounting, chart of depreciation is rated as the highest node,

and this is assigned to the company node. All the depreciation
calculations are stored under the chart of depreciation.

G/L account master records contain the data that is always needed by
the General Ledger to determine the account's function.

A GL account records all transactions for that account. The

transactions are related to various accounting elements, including
assets, liabilities, equity, revenues, expenses, gains, and losses.

The receivables or payables are posted in a different company code to

the one in which the revenue or expense (or costs) is posted.
The business transaction must be reported for tax purposes.

Assign the Profit Center Update scenario to the ledger.

OKKP

Document Line item

General ledger accounts are kept with open item management if you
need to check whether there is an offsetting posting for a given
business transaction.
Local currency
Extension ledgers can have different currencies than underlaying
ledger; Multiple extension ledgers can point to the same underlaying
ledger
You can use document splitting to automatically split line items for
selected dimensions
Normal reversal posting, system post the incorrect debit as credit and
incorrect credit as a debit.
The balance of the new account is added to the non-assigned section
and is included in the calculation

General ledger accounts are kept with open item management if you
need to check whether there is an offsetting posting for a given
business transaction
The reversal reason must be configured to allow negative postings.
The company code must allow negative posting

Ledger
Company Code

Document type or document number

Company code
Currency
The balance of the new account is added to the non-assigned section
and is excluded from the calculation.

FAGL_FC_VALUATION