GL Account Interview Questions Sap

General ledger questions:
Master data
Account group: account groups are created to classify the Gl account in group format both in P&L
and balance sheet.
P&L : coming to PL we need to select retained earning account and functional area
Short text: we can maintain 20 Alpha/Numeric.
Long text: We can maintain 50 Alpha/ Numeric.
Trading partner: we use for inter company transactions.
Account currency: account currency is a local currency, any foreign currency transactions the
account currency will be changed.
Local currency: if we not set this indicator the system will take current translation ratio in OBYC or
Tcurr and it converts
Exchange rate difference key will be used in every month for foreign currency valuation.
Account type : is used for sub ledgers.

Tolerance group: We can define the tolerance group as a set of assigned authorization of users using
the SAP ERP software. The tolerance group helps in specifying the group of accounting clerks to
determine the amounts granted to post.
Open item management: whatever the entry we have posted if it having any further clearing it
needed open item mamgment, All the line items in respective GL will be shown as Open and closed
items in FBL3n.
Line tem display what ever Gls we will see in FBL3n that will be shown in every line item or else it
will show entire balance of GL account.
Sort key : or filter key based on this the line of GL account will be sorted.
Filed staus group: field status group will control fileds of GL master account while posting.
Post automatically: it will restrict automatic postings
2) difference between field status & account group?
A) filed staus will control posting filed for GL account, account group control Master data fileds.
3) is it mandatory to selct line item display check box if we slect open item check Management check
box?
A) it is mandatory to select OIM check box to see the line in individually not in combined way.
4) is it possible to change fileds in GL master record once we posted?
It is possible until we clear the balances in GL account. And transfer the amount to dummy GL
account
10.A) we need to check in OB41 posting keys, whether the cost filed is suppressed .
Park document: will assign a document number to parked document, but in hold document it will
ask temporary name to respective hold document
B)And park document will store in main data base and hold document will never store in main data
base.
C) park document & hold document can be edited or deleted
11)Standard document: full clearing,
B)Partial document: until unless we pay the full and final amount the system will show the payment
document as open item,
C) residual clearing: whatever the payment that we have made the system will clear the original
document and system will generate new open item entry.
Foreign currency valuation:
13.A) prerequisites of foreign currency valuation:
We need maintain currency combinations in OB08
14) why we need to foreign currency valuation?
A) As per the accounting standards US GAP it is valuated for balance sheets of both liabilities and
assets which are maintained in foreign currency.
15) for what type of GL account we evaluate foreign currency valuation:
A) for balance sheets
16.A) Steps for foreign currency:

17) How the link happens for foreign currency valuation and ledger?
A) With the help of valuation area, we assign valuation group to ledger groups or accounting
principals based on that the link will happen.
18. What is KDB & KDF transaction keys?

A) KDB: it the sense Non open item of GL accounts maintained in foreign currency
KDF: in the sense we maintain open item of GLs , customers and vendors maintained in
foreign currency and chart of account level with valuation area.
19)What is the difference between Realized and Un-Realized Exchange GL Accounts?

A) realised will came
1.
2. What is the difference between month-end and year-end valuation?
3. What are the entries in month-end valuation?
4. What are the entries in year-end valuation?
5. What is the use of “Always Evaluate” check box in valuation?
A) Even if we incurr loss or gain the systems needs to valuate.
6. What are the configuration steps for foreign currency valuation?

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General ledger questions:

Short text: we can maintain 20 Alpha/Numeric.

Long text: We can maintain 50 Alpha/ Numeric.

Trading partner: we use for inter company transactions.

Tcurr and it converts

Account type : is used for sub ledgers.

Post automatically: it will restrict automatic postings

2) difference between field status & account group?

4) is it possible to change fileds in GL master record once we posted?

C) park document & hold document can be edited or deleted

11)Standard document: full clearing,

Foreign currency valuation:

13.A) prerequisites of foreign currency valuation:

We need maintain currency combinations in OB08

14) why we need to foreign currency valuation?

15) for what type of GL account we evaluate foreign currency valuation:

A) for balance sheets

16.A) Steps for foreign currency:

18. What is KDB & KDF transaction keys?

19)What is the difference between Realized and Un-Realized Exchange GL Accounts?

6. What are the configuration steps for foreign currency valuation?

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