ALL FINANCIAL ACCOUNTING/CONTROLLING: 2008

Tuesday, November 4, 2008

SAP FI/CO Sample Questions and Answers

1. About evolution in the world of business, we can affirmate that (Please choose the correct sentence):

a) [ ] The internet revolution could turn available to companies the use of ERP functionality.
b) [ ] The next generation of Â“new dimensionÂ” products appeared taking functionality out of the company, to bring value through extending the Internet Revolution.
c) [ ] The internet has driven to a collaborative environment where value is created through collaboration within business comunities.
d) [ ] In the first the companies were looking at Cost reduction and efficiency through integration of business comunities.

2. About the definition of ERP and e-business functionalities, we can say that (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):

a) [ ] ERP offers enterprise centric functionality (general ledger, payroll, order entry) to integrate core, internal processes.
b) [ ] ERP is mySAP Financials and mySAP HR.
c) [ ] ERP is SAP R/3, while e-business is mySAP.com.
d) [ ] About Business Model, ERP can be considered as enterprise centric and e-business, as extended and collaborative.
e) [ ] About Architecture, ERP can be considered as an integrated system and e-business, as an integrated system and an open integration platform.
f) [ ] About Processes, ERP can have them integrated, core within enterprises and collaborative, beyond company boundaries.

3. What is a SAP Business Object (Please choose the correct sentence)?

a) [ ] It is all the transaction data generated via transactions.
b) [ ] It is the instancied class of the Class Builder.
c) [ ] It is composed of tables that are related in a business context, including the related appplication programs and it is maintained in the Class Repository.
d) [ ] It is the representation of a central business object in the real world, such as an employee, sales order, purchase requisition, invoice and so on.
e) [ ] It is a sequence of dialog steps that are consistent in a business context and that belong together logically.

4. About BAPI (Business Application Programming Interface), what is true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] It is a well-defined interface providing access to processes and data of business application systems.
b) [ ] BAPIs offer a stable, standardized interface for integrating third-party applications and components in the Business Framework.
c) [ ] A BAPI is assigned to one and only one business object.
d) [ ] In the R/3 Enterprise version (4.7) we can use BAPI to create an internal order inside a customized ABAP program.
e) [ ] A business object in the Business Object Repository (BOR) can have many methods from which one or several are implemented as BAPIs.

5. What can we say about ALE (Application Link Enabling, Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Business processes cannot be distributed using ALE.
b) [ ] The ALE concept is related to an enterprise structure with areas that have central tasks and areas with tasks that are decentralized.
c) [ ] The applications are integrated via a central database.
d) [ ] The applications are integrated via the message exchange.
e) [ ] The ALE concept supports the implementation and operation of distributed SAP applications.

6. A company code is:

a) [ ] an independent accounting entity (the smallest organization element for which a complete self-contained set of accounts can be drawn up).
b) [ ] an organizational unit in an enterprise that represents a closed system used for cost accounting purposes.
c) [ ] an organizational unit that provides an additional evaluation level for the purpose of segment reporting, for example.
d) [ ] a dependent accounting entity, according to Fiscal Year.
e) [ ] the highest level in the R/3 system hierarchy.

7. Consider the following sentences:

7.1. The variant principle is a three-step method used in R/3 to assign special properties to one or more R/3 objects.
7.2. One of the disadvantages to use variants is that it can't deal with the maintenance of properties, which are common among several business objects.
7.3. For using the variant principle, you must define the variant, populate it with values and assign it to the R/3 objects.
7.4. This principle is used for Fiscal Years, Posting Periods and so on.

Which of them is false?

a) [ ] 7.1 and 7.2.
b) [ ] 7.1 and 7.3.
c) [ ] 7.1.
d) [ ] 7.2.
e) [ ] 7.3.

8. Consider the following sentences:

8.1. A fiscal year has to be defined by means of separating business transactions into different periods.
8.2. Special periods are used for postings, which are related to the process of the year-end closing. In total, 16 special periods can be used.
8.3. The Fiscal Year variant only defines the amount of periods and their start and finish dates.
8.4. The Fiscal Year is defined as a variant, which is assigned to the chart of accounts.

Which of them are true?

a) [ ] 8.1 and 8.2.
b) [ ] 8.1 and 8.3.
c) [ ] 8.2 and 8.3.
d) [ ] 8.2 and 8.4.
e) [ ] 8.3 and 8.4.

9. What is an independent fiscal year variant (Please choose the correct sentence)?

a) [ ] It is a variant which the postings periods are only equal to the months of the year.
b) [ ] It is a variant which you can define different number of periods, according to the year.
c) [ ] It is a variant which each own fiscal year uses the same number of periods, and the postings periods always start and end at the same day of the year.
d) [ ] It is a variant which allows the use of different number of posting periods.
e) [ ] It is a variant not normally used because of its particularity.

10. Consider the following statements about currencies concepts:

10.1. The currency code identifies each currrency that will be used into R/3 system.
10.2. You have to define all the worldÂ’s currency into R/3 system
10.3. Exchange rate types distinguishes the exchange rates to be considered for various purposes, such as valuation, translation, conversion, planning, etc.

Which of them is true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 10.1.
b) [ ] 10.2.
c) [ ] 10.3.
d) [ ] none of them.
e) [ ] all of them.

11. Consider the following sentences:

11.1. A base currency can be assigned to an exchange rate type.
11.2. To deal with exchange rate spreads, two very efficient combinations of the exchange rate tools are using a base currency for the average rate (M) and using the exchange rate spreads to calculate the buying and selling rates (B and G).
11.3. A base currency can be used for an average, a buying or a selling rate.
11.4. The relations between currencies have to be maintained per exchange rate type and currency pair in the translation factors.

Which of these combinations is true?

a) [ ] 11.1, 11.3 and 11.4.
b) [ ] 11.1, 11.2 and 11.4.
c) [ ] 11.2, 11.3 and 11.4.
d) [ ] 11.1, 11.2 and 11.3.
e) [ ] 11.1, 11.2, 11.3 and 11.4.

12. Consider the following sentences about the direct quotation:

12.1. It is also known as price notation.
12.2. The currency value is expressed in units of the foreign currency per unit of local currency.
12.3. For direct quotation, the prefix to indicate the rate is Â“/Â”.

What is the correct option?

a) [ ] 12.1.
b) [ ] 12.2.
c) [ ] 12.3.
d) [ ] none of them.
e) [ ] all of them.

13. Consider the following sentences about the indirect quotation:

13.1. It is also known as volume notation.
13.2. The currency value is expressed in the local currency per unit of foreign currency.
13.3. For indirect quotation, there is no prefix to difference between direct quotation.

What is the correct option?

a) [ ] all of them.
b) [ ] none of them.
c) [ ] 12.3.
d) [ ] 12.2.
e) [ ] 12.1.

14. What of these alternatives are considered master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Chart of Accounts.
b) [ ] G/L Accounts.
c) [ ] Vendor.
d) [ ] Customer.
e) [ ] Asset.

15. What can we define into the chart of accounts customizing transaction (OB13 transaction, Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Description.
b) [ ] Maintenance language.
c) [ ] Length of the company code.
d) [ ] Length of the G/L account number.
e) [ ] Blocking / unblocking chart of accounts.

16. Consider the following sentences about the chart of accounts segment:

16.1. It contains the Company Code, Account number and the field status group.
16.2. Whenever you need to enter information for a company code for an account number, you have to type again the information related to chart of accounts segment.
16.3. Texts can be displayed using the program Â“Account assignment manualÂ”(RFSKTH00).
16.4. Key words facilitate the search for account numbers.

Which of these combinations are false (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 16.1.
b) [ ] 16.2.
c) [ ] 16.3.
d) [ ] 16.4.
e) [ ] none of them.

17. True or false?

17.1. Every company code that needs to use an account from the assigned chart of accounts has to create its own company code segment.
a) [ ] True b) [ ] False

17.2. For P+L statement accounts, the balance is carried forward to the same account.
a) [ ] True b) [ ] False

17.3. In the chart of accounts segment, it is necessary to indicate whether the account will be a balance sheet or a profit+loss statement account.
a) [ ] True b) [ ] False

17.4. Number intervals for G/L account master records can overlap.
a) [ ] True b) [ ] False

17.5. It is not possible to influence the appearance of an account’s master data.
a) [ ] True b) [ ] False

18. Consider the following sentences about field status:

18.1. Fields which are _____________ can be ____________.
18.2. Fields which have an entry that ________________ can be set to
_________ only (even in change mode).

Which of the options below matches the blank spaces of those sentences?

a) [ ] used/supressed for 18.1; must be changed/display for 18.2.
b) [ ] not used/supressed for 18.1; must be changed/display for 18.2.
c) [ ] not used/optional for 18.1; should not be changed/supressed for 18.2.
d) [ ] not used/supressed for 18.1; should not be changed /display for 18.2.
e) [ ] used/optional for 18.1; must be changed/display for 18.2.

19. Consider the following sentences about field status:

19.1. Fields which _____________ can be made ____________.
19.2. Fields that can be entered, but are not required, can be set to _________ entry.

Which of the options below matches the blank spaces of those sentences?

a) [ ] must not have an entry/optional for 19.1; suppresed for 19.2.
b) [ ] must have an entry/supressed for 19.1; suppresed for 19.2.
c) [ ] must have an entry/optional for 19.1; optional for 19.2.
d) [ ] must have an entry/required for 19.1; optional for 19.2.
e) [ ] must not have an entry/required for 19.1; optional for 19.2.

20. Consider the following sentences:

20.1. Reconciliation accounts are general ledger accounts assigned to the business partner master records to record all transactions in the sub-ledger.
20.2. For accounts without line item display, the most important data from the posted line items is stored in a special index table.
20.3. The account currency must be in the local currency.
20.4. Items in accounts with open item management means the G/L accounts should have a offsetting posting for a given business transaction.

Which of these are true (Please choose the correct sentence)?

a) [ ] 20.1 and 20.3.
b) [ ] 20.2 and 20.4.
c) [ ] 20.1 and 20.2.
d) [ ] 20.2 and 20.3.
e) [ ] 20.1 and 20.4.

Answers:

1. C

2. A, C, D, E.

3. D

4. A, B, C, D, E.

5. B, D, E.

6. A

Item Â“BÂ” is the definition of controlling area.
Item Â“CÂ” is the definition of business area.
Item Â“DÂ” is not any definition.
Item Â“EÂ” is the definition of client.

7. D
In fact, the main advantage of using variants is that it is easier to maintain properties, which are common among several business objects.

8. B

9. C

10. A, C.
Most of the world’s currencies are already defined into R/3 system.

11. B
Be careful: A base currency can only be used for an average rate, not for a selling or a buying rate.

12. A

13. E

14. B, C, D, E.
A chart of accounts is a variant, which contains the structure and the basic information about general ledger accounts.

15. A, B, D, E.

16. A, B.

17. True or false:

17.1. True.

17.2. False. For P+L statement accounts the balance is carried forward to a retained earnings account and the P+L statement account is set to zero.

17.3. True.

17.4. True.

17.5. False. It is possible to influence the appearance of an account’s master data using the field status.

18. D

19. D

20. E

SAP FI/CO Sample Questions and Answers

SAP FI/CO Sample Questions

1. Since the line item display takes up additional system resources, you should only use it if there is no other way of looking at the line items. So, you should not activate the line item display for the following accounts (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):

a) [ ] P+L Statement.
b) [ ] Reconciliation.
c) [ ] Revenue.
d) [ ] Material Stock.
e) [ ] Tax.

2. Consider the following statements:

2.1. Accounts with open item management must have line item display activated.
2.2. You can activate or deactivate open item management everytime, even if the account hasnÂ’t a zero balance.
2.3. You can select both local and foreign currencies as account currency.
2.4. If the account is the local currency, the account can only be posted to this currency.
2.5. When using the Â“Only Balances in Local CurrencyÂ” indicator in the master data record, transaction figures are only managed for amounts translated into local currency.

Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) [ ] 2.1.
b) [ ] 2.2.
c) [ ] 2.3.
d) [ ] 2.4.
e) [ ] 2.5.

3. True or false?

3.1. The “Only Balances in Local Currency” indicator must not be set in reconciliation accounts for customers or vendors.
a) [ ] True. b) [ ] False.

3.2. The “Only Balances in Local Currency” indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed on an open item basis.
a) [ ] True. b) [ ] False.

3.3. Accounts with a foreign currency as an account currency can be posted to any currency.
a) [ ] True. b) [ ] False.

3.4. You can use a group chart of accounts for internal purposes.
a) [ ] True. b) [ ] False.

3.5. The usage of a financial statement version for the group chart of accounts is optional.
a) [ ] True. b) [ ] False.

4. What is the disadvantage of using the group chart of accounts (Please choose the correct sentence)?

a) [ ] Because changes to existing G/L Accounts are effective as soon as they have been saved and could have extensive consequences.
b) [ ] Because accounts with the account currency as local currency can only be posted to this local currency.
c) [ ] Because the company codes use different operational chart of accounts, you cannot carry out cross-company code controlling.
d) [ ] Because the group chart of accounts must be assigned to each operational chart of accounts.
e) [ ] Because you must enter the group account number in the chart of acounts segment of the operational account.

5. Consider the following statements:

5.1. You cannot use the country chart of accounts if you desire to use the cross-company code controlling.
5.2. The disadvantage of using country chart of accounts is the accounting clerks who may be familiar with the country chart of accounts first have to get used to using the operational chart of accounts.
5.3. Reconciliation accounts are updated on a daily basis.

Which of them are false (Please choose the correct sentence)?

a) [ ] 5.1 and 5.2.
b) [ ] 5.1 and 5.3.
c) [ ] 5.2 and 5.3.
d) [ ] all of them.
e) [ ] none of them.

6. Which are the segments of the SD view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

7. Which are the segments of the MM view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

8. What is the segment that makes complete both customer and vendor accounts (Please choose the correct sentence)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

9. What characteristics are configured as standard for every customer/vendor account (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Line Item Display.
b) [ ] Company Code.
c) [ ] Currency.
d) [ ] Open Item Management.
e) [ ] Purchasing Organization.

10. Consider the following statements:

10.1. Number ranges for customer/vendor accounts can overlap.
10.2. An one-time account is a special customer/vendor master record which a company rarely do business.
10.3. The account group is used to control the fields displayed in the master record.
10.4. If you enter an alternative payer, the amount to clear the open items due in the account is paid by the alternative payer.
10.5. One number range can only be assigned to one account group.

Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 10.1.
b) [ ] 10.2.
c) [ ] 10.3.
d) [ ] 10.4.
e) [ ] 10.5.

11. True or false?

11.1. For every bank that is used in the system (for example, as a house bank or as a customer/vendor bank) you have to create a bank master record.
a) [ ] True. b) [ ] False.

11.2. Banks that are used by your company are defined as house banks.a) [ ] True. b) [ ] False.

11.3. You cannot create bank master data when entering bank information in the customer or vendor master record.
a) [ ] True. b) [ ] False.

11.4. Bank Account and G/L Account are the same master data object.
a) [ ] True. b) [ ] False.

11.5. Customers that use the lockbox function can create a batch input session that automatically updates customer banking information in the master record.
a) [ ] True. b) [ ] False.

12. Consider the following statements:

12.1. The system can assign the document numbers or the user can assign
the number during document entry.
12.1. A business transaction creates only one document.
12.3. Document types are defined at company code level.
12.4. Number ranges for document numbers and account types defined for postings are defined by the document types.
12.5. Document types also define whether invoices are posted with the net procedure.

Choose the correct option:

a) [ ] 12.1, 12.4 and 12.5 are correct.
b) [ ] 12.2, 12.4 and 12.5 are correct.
c) [ ] 12.3, 12.4 and 12.5 are correct.
d) [ ] 12.1, 12.3 and 12.4 are correct.
e) [ ] 12.1, 12.2 and 12.5 are correct.

13. What do the posting keys specify (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Whether the line item is connected to a payment transaction or not.
b) [ ] Whether the posting is sales-relevant and the sales figure of the account is to be updated by the transaction, for example, by the posting of a customer invoice.
c) [ ] Whether the line items contain “credit” or “debit” values.
d) [ ] Whether the line items are valid for a business transaction.
e) [ ] Whether the accounts are allowed for posting.

14. Consider the following statements:

14.1. A company code must be assigned to a posting period variant to have the control for posting periods.
14.2.‘+’ symbol represents all account types in the posting period customizing screen.
14.3. The account interval in the posting period customizing screen can be both G/L and subledger accounts.
14.4. The maximum amounts are defined per company code in “tolerance groups”.
14.5. It is not possible to assign tolerance groups to user logon ID’s.

Choose the correct option:

a) [ ] 14.1, 14.4 and 14.5 are correct.
b) [ ] 14.2, 14.4 and 14.5 are correct.
c) [ ] 14.3, 14.4 and 14.5 are correct.
d) [ ] 14.1, 14.2 and 14.4 are correct.
e) [ ] 14.1, 14.2 and 14.5 are correct.

15. What fields of a FI Document Header section can be changed after a document has already been posted (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Fiscal Year.
b) [ ] Reference Number.
c) [ ] Text fields.
d) [ ] Header text.
e) [ ] Posting date.

16. About the change control, what conditions below are applicable (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

16.1. The posting period is already closed.
16.2. The line item is not yet cleared.
16.3. The document is a credit memo for an invoice.
16.4. The document is not a credit memo from a down payment.
16.5. The line item is either a debit in a customer account or a credit in a vendor account.

a) [ ] 16.1.
b) [ ] 16.2.
c) [ ] 16.3.
d) [ ] 16.4.
e) [ ] 16.5.

17. What are the prerequisites to enable negative postings (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] You have to define reversal reasons for negative reversal.
b) [ ] You have to ensure company code permits negative postings.
c) [ ] You have to define the document type that explicitly allows negative postings.
d) [ ] You have to use cleared items.
e) [ ] You have to reset cleared items.

18. What is the purpose of the terms of payment (Please choose the correct sentence)?

a) [ ] Calculate a cash discount and invoice due date.
b) [ ] Calculate the tax amounts.
c) [ ] Enable the cross-company code transactions.
d) [ ] Define the baseline date.
e) [ ] Calculate only the required conditions for SD invoices.

19. Consider the following statements:

19.1. Terms of payments are copied from invoice to credit memos when they are linked to.
19.2. Inserting a Â“VÂ” in the invoice reference field during document entry means the terms of payment are activated in the
non-invoice-related credit memos.
19.3. The account type field in terms of payment basic data screen should be defined separately, to prevent any done change in the term of payment.
19.4. The system cannot define the splitment of an installment payment, at least you define it in the terms of payment.
19.5. The day limits define the dates of the cash discount periods.

Which of the statements above is false (Please choose the correct sentence)?

a) [ ] 19.1.
b) [ ] 19.2.
c) [ ] 19.3.
d) [ ] 19.4.
e) [ ] 19.5.

20. True or false?

20.1. SAP supports tax on sales and purchases, US sales tax, additional taxes and withholding tax as tax systems for different countries.
a) [ ] True. b) [ ] False.
20.2. Only national level of taxation is allowed in the R/3 system.
a) [ ] True. b) [ ] False.
20.3. A tax calculation procedure is assigned to every company code for carrying out tax calculations.
a) [ ] True. b) [ ] False.
20.4.A jurisdiction code is a combination of the codes of tax authorities that tax movements of goods and use their own tax rates.
a) [ ] True. b) [ ] False.
20.5. If you desire to post manual tax postings, you have to flag the “Post Automatically Only” field of the account master record.
a) [ ] True. b) [ ] False.

Answers

1. B, C, D, E.

2. A, C, E.

3. True or false:

3.1. True.
3.2. True.
3.3. False. Accounts with a foreign currency as an account currency can only be posted to in this foreign currency.
3.4. True.
3.5. False. You must use a financial statement version for the group chart of accounts.

4. C.
Item “a” is related to Collective Processing for G;L Accounts Master Data.
Item “b” is not true for the R/3 system concept. If the account currency is the local currency, the account can be posted to in any currency.
Item “d” and “e” are some actions to be done for using group chart of accounts, so, they are not the disadvantage.

5. B.
In fact, since all company codes use the same operational chart of accounts for postings, you can carry out cross-company code controlling. About Reconciliation accounts, they are updated realtime.

6. A, D.

7. A, E.

8. B.

9. A, D.

10. B, C, D.

NOTE: A number range can be assigned to several account groups.

11. True or false?

11.1. True.

11.2. True.
11.3. False. In fact, we can create bank master data when entering bank
information in the customer or vendor master record.

11.4. False. Each bank account is reflected in the SAP System by a combination of house bank ID and account ID. This combination is entered in a G/L account that represents the bank accounting the general ledger.

11.5. True.

12. A.

13. A, B, C, E.

14. D.

15. B, C.

16. B, D, E.

17. A, B, C.

18. A.

19. E.

The day limits are used to store several versions of terms of payment under the same terms of payment key.

20. True or false:

20.1. True.

20.2. False. Two types of taxation can be represented in the R/3 system: taxation at national level and taxation at regional/jurisdiction level.

20.3. False. A tax calculation procedure is assigned to every country for carrying out tax calculations.

20.4. True

20.5. False. If you have selected this field, no manual tax postings are allowed.

Computing Center Management System

As part of setting up the Computing Center Management System (CCMS), the system administrators are trained and the network administration, backup, archiving, and capacity monitoring systems are prepared and tested. Some of the tasks involved here are configuring the printing facilities, conducting system volume and stress tests and conducting a going-live check.

Furthermore, R/3 logon groups are now set up, enabling you to provide application servers with improved response time for particularly important work groups using time-sensitive transactions.

Operation modes (resource configurations for each instance of the R/3 System) now need to be defined, with the times that the services are available. Alert monitors and backup schedules are set up. Productive system printing procedures and spool administration procedures are defined according to the Systems Operations Manual set up in the Blueprint Phase. Finally, the R/3 job scheduling system needs to be configured, as well as alert monitors and backup schedules defined.

Also in Phase 4, the system administration staff needs to be trained in a workshop session. Topics include troubleshooting, tape management, and user management, as well as escalation procedures.

In Phase 4 you simulate the productive operation of your R/3 System, a step of great importance. The test plan contains all the most important situations that arise in the normal course of business:

Testing conversion procedures and programs

Testing interface programs

Conducting volume and stress testing
Conducting final user acceptance testing
Developing a final go-live strategy

The test situations are selected on the basis of importance and frequency of expected use. Printers and other output devices are also included in the tests, in order to, for example, check print volumes or print layouts in printed invoices or purchase orders. End users are included in the planning and execution of the tests.

Volume testing also involves checking the critical parameters for specific business procedures, for example, adhering to a two-second average processing time to create a sales order.

SAP Business Area (FI)

Download Business Area (FI) Tutorial

Bill of Exchange Receivable

Purpose

Bills of exchange serve for a short-term financing within goods trading. If a customer pays his invoice by a bill of exchange payment, the vendor provides him with a financing (payment after three months). The bill of exchange claim, the vendor has against the customer is proved by the ownership of the certificate (the bill of exchange). This is a security for the vendor.

Bills of exchange can be used for a refinancing. The vendor, can use the bill of exchange e. g. as means of payment to clear his own payables at a vendor's or he can discount it at his bank, i. e. the bank buys the bill of exchange not yet due and deducts interests up to the due date.

In this process, we will sell a product to a customer on a loan basis. Customer 2145 pays the invoice with the help of a bill of exchange. We pass this bill of exchange to our bank for a refinancing. At the bank, it is used for a discounting. The bill charges (e. g. discount and collection charges) are debited to the customer as claims. After the expiration day and the country specific period for the bill of exchange has passed by, charge off the bill of exchange liability (recourse).

You can find more information about this process under .

Process Flow

You can find the data for this process under .

Settings for this Demo

Creating a Sales Order

Delivering the Sales Order

Creating a Billing Document

Incoming Payment with Bill of Exchange

Printing the Charges for a Bill of Exchange

Bill of Exchange Usage (Discounting)

Reverse Contingent Liability

Line Item Display

Additional Process Information

While bills of exchange are issued before the billing due date in France and Spain, in Germany and Austria bills of exchange are issued on the billing due date. The debtor thus has the benefit of paying his debt later, actually at the time of the bill of exchange due date. However he has to bear the charges for the bill of exchange.

The system handles bills of exchange as special G/L transactions. Thus, these operations are processed in the sub-ledger, separately from other operations and are posted to a specific G/L account in the general ledger. As a result, you have an all-time overview about bill of exchange payables and receivables. In general, it is not necessary to make transfer postings for a display on the balance sheet.

One can post the following types of bills of exchange:

bills of exchange receivable

bills of exchange payable

debit-side and credit-side reverse bills of exchange.

For the posting of special G/L transactions, the system uses specific posting keys that are supplemented by a special general ledger characteristic. In this case (payment of bill of exchange receivable) the system uses posting key 09 (debit posting) with the special general ledger characteristic W.

Within the operation bill of exchange usage (here: refinancing to a bank) the system posts to the account and the bank sub-account. The amount of the bill of exchange is credited to the account - deducted by the bill of exchange charges - and displayed by a bank statement. The bank charges are posted to the respective revenue accounts after entering them. The reverse posting is done automatically into the bank sub-account that displays the bank-related bill of exchange liability. After the expiration day and the country-specific protest period has passed by, you cancel the bill of exchange claim and the bill of exchange liability and clear the accounts receivable, special general ledger and bank sub-accounts.

The following data has been entered in Customizing especially for this demo:

alternative reconciliation account for the bill of exchange processing:

For the following cases we set up deviating accounts that are valid for all reconciliation accounts:

Bill of exchange non-rediscountable: is posted to account 126000

Remaining risk of bill of exchange: is posted to account 196800

Bill of exchange claim: is posted to account 127000

Reverse bill of exchange: is posted to account 196200

Bill of exchange rediscountable: is posted to account 125000

Bank operations

For the bank operations as well, we set up respective G/L accounts:

Bank discount charges and bank collection charges are posted to account 221000

Bank bill of exchange tax is posted to account 275200

Discount charge revenues are posted to account 275100

Revenues from collection charges are posted to account 275300

Revenues bill of exchange tax are posted to account 275200

Default values

For charges and discount rates we entered the following defaults: The discount rate is
10 % and the charges are EUR 2,50.

Bank sub-accounts

The following sub-accounts have been created for the bill of exchange usage:

Account	Usage	bank sub-account for commitments
113100	Discounting	113107
	Forfaiting	113107
	Collection	196600
113200	Discounting	113207
	Forfaiting	113207
	Collection	196600
113300	Discounting	113307
	Forfaiting	113307
	Collection	196600

Data Used During This Process

Field	Data
Company Code	1000
Customer	2145
Order type	OR (standard order)
Material	M-17 (Jotachi SN4000)
Order quantity	250 (PC)
Shipping point	1000
Warehouse number	010
Plant	1000
Account	113100
Alternative reconciliation account	125000
Account for bill of exchange liability	113107
Account for discount expense	221000
Account for revenue discount charges	275100
Account for revenue collection charge	275300

Settings for this Demo

Use

For this process, you should determine beforehand whether you want to set the open items to active or inactive within clearing processing. Here, you determine the status inactive for the selected items. In a later step, you will control the activation of your items with a double-click. You should also already determine your printer for your correspondence to be handled at a later time (bill of exchange requisition).

Procedure

Call up the transaction as follows:

Menu Path	Accounting ® Financial Accounting ® Accounts payable ® Environment ® User parameters ® Editing options
Transaction Code	FB00

Choose the Open items tab page.

Select Selected items initially inactive.

Choose Options ® Change user master.

Choose

Call up the transaction as follows:

Menu Path	System ® User profile ® Own data
Transaction Code	SU3

Choose the Defaults tab page and in the field OutputDevice enter your printer.

Choose

Creating a Sales Order

Use

A customer requests a specific product. In this first step, you enter a sales order.

Procedure

Call up the transaction as follows:

Menu Path	Logistics ® Sales and Distribution ® Sales ® Order ® Create
Transaction Code	VA01

Enter the following data:

Field	Data
Order Type	OR (standard order)

Choose

Enter the following data:

Field	Data
Sold-to party	2145
Ship-to party	2145
Purch.order no.	user-defined entry
Req.deliv.date	default
Pricing date	default
Payment terms	ZB01
Incoterms	CPT (Carriage Paid To)
Material	M-17
Order quantity	210
Sales Unit (SU)	PC

Choose

Confirm possible warnings with .

Select the item and choose

In the availability control you can see the confirmed delivery quantity.

Make a note of the Dely/Conf.Date.

You return to the overview screen, by selecting One-time delivery.

Choose

Make a note of the order number.

Choose

In the dialog box, choose No.

Delivering the Sales Order

Use

The ordered pumps are now available in the finished goods warehouse and can be delivered to the customer. The system posts a goods issue.

Procedure

Call up the transaction as follows:

Menu Path	Logistics ® Sales and Distribution ® Shipping and Transportation ® Outbound Delivery ® Create ® Single Document ® With Reference to Sales Order
Transaction Code	VL01N, LT03

Enter the following data:

Field	Data
Shipping point	1200
Selection date	Date of delivery proposal
Order	Your order number
From item	blank
To item	blank

Choose

Select your item and choose Subsequent functions ® Create transfer order.

In the end document processing dialog box choose Yes.

Note the delivery number.

Enter the following data:

Field	Data
Warehouse number	012
Plant	1200
Delivery	default
Foreground / background	Background
Adopt pick.quantity.	2

Choose

The system creates a transfer order for picking the delivery quantities. The option 2 (Adopt pick.quantity) has the effect that the goods issue posting for the delivery is done at the same time.

Choose

Creating a Billing Document

Use

Finally, you create an invoice in sales and distribution. For this, you refer to the delivery of the 210 monitors.

Procedure

Call up the transaction as follows:

Menu Path	Logistics ® Sales and Distribution ® Billing ® Billing document ® Create
Transaction Code	VF01

In the field Document you can see the number of the delivery created beforehand. If this should not be the case, please enter the delivery number from the previous operation.

Choose

Double-click on the billing item created.

Choose the Item partners tab page.

On the following screen, the system displays all partners of the document item.

Choose

twice.

Choose

Note the document number.

Choose

Call up the transaction as follows:

Menu Path	Logistics ® Sales and Distribution ® Billing ® Billing Document ® Display
Transaction Code	VF03, FB03

The billing document number should appear in the billing document field.

Choose

Select your item and choose

Accounting.

In the dialog box choose Accounting document.

You can see the document overview. The document should look as follows:

Debit 2145 CompuMax GmbH AN 340,016.88

Credit 800002 Sales revenues - do AN 293,118.00

Credit 175000 Output tax AN 46,898.88

Choose

until the overview tree appears.

Incoming Payment with Bill of Exchange

Use

The customer pays his invoice by way of a bill of exchange. In the following scenario you post this bill of exchange and clear the open item in this way.

Procedure

Call up the transaction as follows:

Menu Path	Accounting ® Financial Accounting ® Accounts Receivable ® Document entry ® Bill of exchange ® Payment
Transaction Code	F-36

Enter the following data:

Field	Data
Document date	Current date + 14 Days
Posting date	Current date + 14 Days
Document type	DZ
Period	Current period
Company code	1000
Currency/ rate	EUR
Transaction to be processed: Incoming payment	Select
PstKy	09 (Special G/L credit)
Account	2145
Sp.G/L (special general ledger-characteristic)	W

By choosing the special G/L account the system knows that a bill of exchange is to be posted on a separate entry screen. Simultaneously the system posts automatically to the special general ledger determined by the special general ledger characteristic.

Choose

To skip any warning messages, choose .

Enter the following data:

Field	Data
Amount	340,016.88
Due on	current date + 90 Days
Issue date	current date
Planned usage	D (discounting)
Drawer	address data of your company code
Drawee	address data of customer 2145
Domicile	Address of your bank, you are to put the bill of exchange to
Cent.bnk loc	Important for the rediscountability of the bill of exchanges. If the bank entered in the field domicile is on a central bank location already, you do not have to make an entry
Discount rate	10

Choose

The number of discount days is calculated from the difference between issue date and due date (78 days in this example).

Choose Process open items.

Enter the following data:

Field	Data
Special G/L ind	W
Automatic search	Select

Choose Process open items.

If the Proposal for clearing dialog box appears, choose

Accept.

Note that the cash discount has to be deactivated. Otherwise choose Disc. (Deactivate discount).

Position your cursor on the gross amount and choose

Items (Activate Items).

Choose Document ® Simulate.

The Bill of Exchange Payment: Display Overview screen appears, where you can see a posting with 6 items.

Example of posting:

Item	PK	BusA	Acct no.	Ammount in EUR	Tax
1	09W	7000	2145	340,016.88
2	50		275100	7,367.03-	1,178.05
3	50		275300	2.56-	0.41
4	03		2145	8,548.72
5	15	7000	2145	340,016.88-
6	50		175000	1,179.13-

Double-click on the first item.

You now see the bill of exchange in detail. In the General ledger field you see that the bill of exchange is posted to the differing reconciliation account 125000.

Choose

Note the document number.

Choose

In the Exit Editing dialog box, choose Yes.

ALL FINANCIAL ACCOUNTING/CONTROLLING

Tuesday, November 4, 2008

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Computing Center Management System

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Bill of Exchange Receivable

Additional Process Information

Data Used During This Process

Settings for this Demo

Creating a Sales Order

Delivering the Sales Order

Creating a Billing Document

Incoming Payment with Bill of Exchange

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