02-General Ledger Accounting

SI0014
Computerized Accounting
Application II
General Ledger
ACCOUNTING PROGRAM
Overview
• Introduce key organizational elements in
financial accounting, G/L master records, and
how to create postings using both the Enjoy and
Complex document entry screens
Unit Objectives
After completing this unit, you’ll be able to:
• Describe the purpose of company codes and business areas
• Describe the options for assigning company code(s) to a controlling area
• Display a chart of accounts
• Display the G/L account directory
• Create G/L accounts
• Describe the special role of reconciliation accounts
• Maintain a financial statement version
• Execute G/L postings using the Enjoy transaction screen and the traditional
screen for complex posting
• Explain the structure of an accounting document
• Query a G/L account
• Run the balance sheet
• View cost elements
Contents
• Organizational Structures for Financial Reporting
• G/L Master Records
• Accounting Transactions – Processing in the
General Ledger
Introduction to
Accounting
Accounting Overview
• Accounting means the way it’s used to store the transactional data in
a systematic way based upon Accounting Principles
• There are two types of accounting methods:
• Finance – Financial Accounting for External Reporting purpose
• Controlling – Managerial Accounting or Costing for Internal Reporting
purpose
Basic Accounting Principles
• Basic accounting principles which are useful to
draw the financial statements like Profit & Loss
Account and Balance Sheet Statements
• The transactions are recorded on the basis of
classification of accounts and rules pertain to
Debit and Credit
• There are 3 types of Accounting Principles to
post the day to day transactions:
• Personal Accounts
• Real Accounts
• Nominal Accounts
Personal Accounts
• Transactions relating to persons or firms are
come under Personal Accounts
• Accounting Rule: Debit is the Receiver and Credit
is the Giver
• E.g. BOB paid cash to ALICE
• Accounting entry:
Alice A/c Dr 10,000
To Bob A/c Cr 10,000
• In this example, Alice’s account will be “Debited”
(Receiver), similarly Bob’s account will be “Credited”
(Giver)
Real Accounts
• Transactions relating to properties or assets
come under Real Accounts
• Accounting Rule: Debit what comes in and Credit
what goes out
• E.g. Building purchased for cash
Building A/c Dr 5,000,000
To Cash A/c Cr 5,000,000
• In this example, building account will be “Debited”,
since it is coming into the business and cash account
will be “Credited”, since it is going out of business
Nominal Accounts
• Transactions relating to expenses or losses and incomes or gain come under
Nominal Accounts
• Accounting Rule: Debit all expenses and losses and Credit all revenues and
gains
• E.g. Salaries Paid – Pertains to Expense
Salaries A/c Dr 2,000,000
To Cash A/c Cr 2,000,000
• In this example, salaries account will be “Debited”, since it is a nominal account and
cash account will be “Credited”, since cash is going out of business
• E.g. Interest Received on Investments – Pertains to Income
Cash A/c Dr 5,000
To Interest A/c Cr 5,000
• In this example, cash account will be “Debited”, since cash is coming into business and
interest account will be “Credited”, since it is a nominal account
Concept of Debit and Credit
• The words “Debit” and “Credit” have no specific
meaning
• They are used only as Accounting Symbols
• In accounting, the Left Hand Side is called Debit
and the Right Hand Side is called Credit
• Debit is used to denote a receiver or receiving
account and Credit is used to denote a giver or
giving account
Concept of Debit and Credit
Transaction Received Benefit – DR Giving Benefit – CR
Purchased Raw Materials Raw Materials Cash
Sales Cash Goods
Paid Salaries Salaries Cash
Discount Received Cash Discount
Commission Paid Commission Cash

General Ledger Accounting
• General ledger accounting is based on the double entry accounting system,
where every transaction has both a debit entry and a credit entry
• The figure below illustrates how postings are debited and credited to these
accounts using a “T” account
• Debits are displayed on the left side of the T account, and credits
on the right side
• An increase in an asset account or an expense account results in
a debit posting, whereas a decrease results in a credit posting
• Conversely, an increase in revenue or liability results in a credit
posting, whereas a decrease generates a debit posting
Scenario Example (1)
• A venture capitalist invests $50,000 on January 10, 2010, which
deposits into its bank account. In exchange, the investor receives
common stock at $1 per share. How is this transaction recorded in
the general ledger?
• The first step is to identify the relevant accounts
• For this transaction, the appropriate accounts are bank (#100000) and
common stock (#329000)
• The transaction will generate an increase in both accounts
• Because the bank account is considered an asset, there will be a debit
posting, while common stock, a liability, will receive a credit posting
• A company purchases office supplies for $500
with a check
• Office supplies are expensed; that is, they are defined
as money spent rather than treated as an asset upon
purchase, even if some of the supplies remain unused
• In this case, the relevant accounts are bank and
supplies expense
• A company purchases $1,000 of office supplies, but on credit rather
than with cash
• In this case, the purchase and payment are recorded separately
• One account is supplies expense, which is debited by $1,000
• The offsetting account is payables–miscellaneous, which is credited by
$1,000
• Payment is made using the bank account ($1,000 credit)
• Finally, the payables–miscellaneous account is cleared ($1,000 debit)
Questions
• BOB commenced business with cash 10,000
• Opened a bank account 5,000
• Bought goods from BOB 1,000
• Sold printer to BOB on credit 1,000
• Sold goods for cash 400
• Purchases goods for cash from BOB 200
• Drew cash from bank 500
• Paid rent to landlord 250
• Received cash from BOB 1,000
• Took a loan from BOB 2,000
• Office equipment stolen 500
Organizational
Structures for Financial
Reporting
Lesson Overview
• Organizational structures occur in all important
functional areas of the SAP system
• The most important organizational elements in
Financial Accounting are the company code and
the business area
• The most important organizational element of
the Controlling application is the controlling area
Lesson Objectives
After completing this lesson, you’ll be able to:
• Describe the purpose of company codes and
business areas
• Describe the options for assigning company
code(s) to a controlling area
Company Code
• A company code is an independent accounting entity (the
smallest organizational element for which a complete
self‐contained set of accounts can be drawn up)
• E.g.: A company within a corporate group
• A company code has a unique, four‐character key, which
can be alphanumeric
Company Code (Cont.)
• The general ledger is kept at the company code level and
is used to create the legally required balance sheets and
profit‐and‐loss statements for the company code
• Financial statements are generally prepared at the company
code level
• The financial data recorded in the general ledger are used to
generate the financial statements needed for external reporting
• A balance sheet is a snapshot of the organization at a point in
time, which identifies assets, liabilities, and equity
• A profit‐and‐loss statement (income statement) indicates the
changes in a company’s financial position over a period of time,
which identifies revenues, costs, and profits or losses
• A company code is specified on every financially based
transaction of mySAP ERP
• This is done either manually or by deriving the company code
from other data elements
IDES Company Code (Example)
Business Area
Business Area
• The business segments, or branches, in which a group operates can
be set up in the SAP system as business areas
• Business areas provide an additional evaluation level for segment reporting,
for example
• Use of business areas is optional
• Business areas are internal divisions of an enterprise that are used to
define areas of responsibility or to meet the external reporting
requirements of an enterprise segment
• A segment is a division of an enterprise for which management monitors
performance (revenue, costs, profitability, etc.) separately from other
segments
• Business areas are generally company‐code independent
• User can post to them from any company code
• The Business area field shows up as an additional account assignment when
posting to an account as long as the field is turned on in configuration
• The field can be made a required entry during posting
Business Area (Cont.)
• Financial statements are generated for each business
area within the enterprise
• A business area is often based on either the enterprise’s
product line or its geographic division, across company
codes
IDES Business Area (Example)
Controlling Area
Controlling Area
• The Controlling Area is the most important
organizational element in the Controlling application
• The latter is used for internal Accounting
• A controlling area identifies a self‐contained
organizational structure for which costs and revenues
can be managed and allocated
• It represents a separate unit of cost accounting
• More than one company code can be assigned to one or
more controlling areas
• This enables a cross‐company code costing between the
assigned company codes
• However, assigning more than one company code to the same
controlling area is possible only if all the assigned company
codes use the same operating chart of accounts and fiscal
calendar year
IDES Controlling Areas
(Example)
Unit Summary
You should now be able to:
• Describe the purpose of company codes and
business areas
• Describe the options for assigning company
code(s) to a controlling area
G/L Master Records
Lesson Overview
• Examine General Ledger (G/L) accounts in detail
• Discuss the reasons that a company code may
need to be assigned to more than one chart of
accounts
Lesson Objectives
• Describe the special role of reconciliation
accounts
Overview
• The goal of financial accounting is to record the
financial impact of business activities
• These data are recorded in the company’s general ledger
• More specifically, the general ledger includes many
accounts that companies use to record financial data
• Each account tracks different types of financial data
• E.g. Some accounts record sales revenues, whereas others
record the costs associated with producing and selling
products
• A list of accounts that can be included in a general
ledger is called a chart of accounts
Chart of Accounts
Chart of Accounts
Chart of Accounts
• Each general ledger is set up according to a chart of
accounts
• The chart of accounts contains the definitions of all
G/L accounts in an ordered form
• The definitions consist mainly of the account
number, account name, and the type of G/L account,
that is, whether the account is a P&L‐type account or
a balance‐sheet‐type account
• User can define an unlimited number of charts of
accounts in the SAP system
• Many country‐specific charts of accounts are
included in the standard system
P&L‐Type Account
• Profit and loss (P&L) accounts are divided into
revenues and expenses
• Revenues are the money the company earns by
selling its products and services
• Expenses are the costs associated with creating
and selling those products and services
Balance‐Sheet‐Type Account
• Balance sheet accounts are grouped into assets, liabilities, and equity
• Assets are what the company owns, such as cash, inventory of materials,
land, buildings, and money owed to the company by its customers
(receivables)
• Liabilities are what the company owes to others, including money owed to
vendors (payables) and loans from financial institutions
• Owner’s equity refers to the owner’s share of the company’s assets
Chart of Accounts Assignment
Chart of Accounts Assignment
• For each company code, user must specify one
chart of accounts for the general ledger
• This chart of accounts is assigned to the company
code in configuration and is referred to as its
operating chart of accounts
• A chart of accounts can be used by multiple
company codes
• This means that the general ledgers of these company
codes have identical structures
Company Code‐Specific Settings
• The accounts in the general ledger are defined based on the
selected chart of accounts
• The general ledger is an instantiation of the COA for a
particular company and can include some or all of the
accounts in the COA
• Before user can use an account in a company code, user have
to maintain the account definition at the chart of accounts
level
• User then create company code‐specific settings, which are
only valid in the company code
• An example of a company code‐specific setting is defining the
account currency
• When the account currency is the local currency of the
company code, one can post to that account in any currency
(Cont.)
• Like most master data, the data in general ledger
accounts are segmented by organizational level
• COA account data include a COA or client
segment and a company code segment
(Cont.)
• The COA segment typically includes an account number, short
and long text, an account group, and an indication as to
whether the account is a balance sheet or a profit and loss
account
• Each account is assigned a unique account number to
distinguish it from other accounts in the COA
• Each account also includes a long text (description) and short
text (brief description) of the account
• Designating the account as either a balance sheet or a profit
and loss account has implications for the ways the balances in
the accounts are treated at the end of the year
• Specifically, balances in balance sheet accounts are carried
forward into the same account, whereas balances in the profit
and loss accounts are carried forward into different, specified
accounts
(Cont.)
• Although the accounts in a COA can be used by more than
one company, each company uses the account in different
ways
• E.g. The currency used and the tax‐related data in different
countries can be different
• Therefore, the general ledger account requires certain
company code‐specific data in addition to the COA data
• The typical company code data in general ledger
accounts consist of the following elements:
• Account currency
• Tax‐related data
• Field status groups
• Open item management
• Line item display
• Reconciliation account data
(Cont.)
• Account currency determines the currency in which all the
transactions are recorded
• Each country has to comply with distinctive tax laws that
require it to include different tax‐related data in its general
ledger accounts
• The field status group determines both the screen layout for
document entry and the status of each field on the screen
• The available field status options are suppress, display, required,
and optional
• If a field is suppressed, then it is hidden; that is, it is not displayed on
the screen
• A field with the display status is displayed and cannot be changed
• The user must provide data for required fields, whereas data entry
is optional for fields with the optional status
• Different field status groups can be defined for different types of
accounts
(Cont.)
• Another element in the company code segment of a
general ledger account is open item management
• If open item management is enabled, then each item in the
account is marked as either “open” or “cleared”
• An item is designated as open until an offsetting (debit or
credit) entry is posted to the account
• At that point, its status is changed to cleared
• E. g. When a company ships a product to a customer, the
amount owed is recorded in a specific account. This item
remains open until the company receives a payment. The
payment offsets the open item, which is then marked as
cleared.
• Typically, the open item management indicator is set for
clearing accounts, which are temporary accounts that hold
data until these data are moved to another account
G/L Master Record (Central
View)
• The Central View of the G/L Master Records
shows the chart of account data and the company
code specific data
Account Groups for G/L
Accounts
Accounts
• Account groups are used to organize and manage a large number of
G/L accounts
• Whenever a new G/L account is created, an account group must be
specified for it
• Accounts with the same account group normally have similar
business functions
• You could, for example, have an account group for cash accounts, one for
expense accounts, one for revenue accounts, and one for other balance sheet
accounts
• The account groups are assigned number ranges
• Via the number ranges, user can control which account numbers are
permissible for cash accounts, expense accounts, etc.
• Account groups also control the appearance of the company code
segment of G/L accounts
• That is, account groups control which fields are required for data entry,
which fields are optional for data entry, which fields are displayed only, and
which fields do not show up at all in the company code segment
Accounts (Cont.)
• Accounts in different account groups require
different types of data when they are used in a
company’s general ledger
• The data contained in account groups can include
dates, tax‐related data, and organizational data
• These data can be designated as either required,
optional, display only, or hidden when the accounts
are created
Subsidiary Ledgers
• Some financial data are not directly maintained in the general ledger
• E.g. Customer accounts, which track the amounts customers owe and the
payments they have made, are maintained separately for each customer.
Although it is necessary to track sales and payments separately for each
customer, it is not necessary to include each customer account in the general
ledger.
• Similarly, data about each vendor and asset, such as an automobile, are
maintained in separate accounts. Vendor accounts track purchases from and
payments made to them. Asset accounts are used to track the purchase price
as well as increases and decreases in the asset’s value over time.
• Such accounts are maintained in subsidiary ledgers or subledgers,
and they are not part of the general ledger
• Although customer and vendor accounts are not part of the general
ledger, the data in these accounts must be reflected in the general
ledger
• Companies accomplish this task by posting the data from subledger
accounts into special accounts in the general ledger called
reconciliation accounts
Reconciliation Accounts
Reconciliation Accounts
• Reconciliation accounts are general ledger accounts that
consolidate data from a group of related subledger accounts
• Reconciliation accounts connect subsidiary ledgers with the
general ledger in real time
• This means that a posting to a subsidiary ledger posts to the
corresponding reconciliation account in the general ledger at the
same time
• The subsidiary ledgers, which are connected to the general
ledger via reconciliation accounts, are the accounts payable,
accounts receivable, and asset ledgers
• Because the general ledger can include multiple reconciliation
accounts, it is necessary to indicate which subledger each
reconciliation account is associated with
• This information appears in the Reconciliation account for account
type field in the general ledger account master data
Reconciliation Accounts (Cont.)
• One special characteristic of reconciliation accounts is
that it is not possible to post data directly into them
• Rather, data must be posted to subledger accounts, at which
point they are automatically posted to the corresponding
reconciliation account as well
• Thus, when a company sells products or services to a customer
on credit, the amount owed is noted in the customer’s subledger
account and is also posted to the corresponding reconciliation
account (accounts receivable)
• Likewise, when the company owes money to a vendor for
purchases it made on credit, this amount is noted in the vendor’s
subledger account and is simultaneously posted to the
corresponding reconciliation account (accounts payable)
• The balance in the reconciliation account (e. g. accounts
receivable and accounts payable) is the sum of the
postings in the related subledger accounts (e. g.
customers and vendors, respectively)
Transaction Figures
Transaction Figures
• A transaction figure describes the total of all postings on an
account in debit or credit
• One transaction figure for debit and one transaction figure for
credit are always kept for each account in the SAP system
• The financial statements for the company code are calculated
using these transaction figures
• If a G/L account has line item display marked in its master
record, user can drill down from the balance of the account to
the line items and then to the documents
• If using business areas, transaction figures are also kept per
business area
• If user create a financial statement for the business area, the
transaction figures for that specific business area are used to
supply information for the financial statements
Financial Statement Version
Financial Statement Version
• A general ledger is kept in order to provide the information needed
to create a balance sheet and a profit‐and‐loss statement
• These reports have to meet country‐specific requirements
• IDES, for example, would need to create financial statements based on HGB
(Handelsgesetzbuch – German standards) for company code 1000
(Germany), and based on US‐GAAP (Generally Accepted Accounting
Principles) for company code 3000 (USA)
• To meet the various reporting requirements, various financial
statement versions have to be created in the SAP system
• In these financial statement versions, user define exactly which
accounts are to appear in which line items of the financial statement
• Many financial statement versions are included in the SAP system
• When running financial statement reports, select a financial
statement version that contains the details of the report structure
Types of Chart of Accounts
Types of Chart of Accounts
• There are three types of charts of accounts:
• Operative COA
• Country‐specific COA
• Group COA
• The operative or operational COA contains the
operational accounts that are used to record the
financial impact of an organization’s day‐to‐day
transactions
• It is the primary COA maintained by an organization
• The accounts in the operative COA are mapped to
alternative accounts in country‐specific charts of
account
• Companies create these alternative accounts to meet
special country‐specific reporting requirements
IDES – Operating Chart of
Accounts
IDES – Operating Chart of
Accounts
• The IDES company codes use the following charts of
accounts:
• INT is used by company codes 1000, 2000, 2100, 2300, and
6000
• CAUS is used by company codes 3000 and 4000
• CAFR is used by company code 2200
• CAJP is used by company code 5000
• It was particularly important to the IDES board of
directors that the European company codes ‐ Germany,
United Kingdom, Portugal, and Spain ‐ all belong to the
same controlling area, since a great deal of activity takes
place among these company codes
• Therefore, all four company codes had to be assigned to the
same operating chart of accounts (INT)
IDES – Group Chart of Accounts
• Because not all company codes of the corporate
group use the same operating chart of accounts,
a Group Chart of Accounts, CONS, is being used
for consolidation purposes
• The operating charts of accounts are assigned to
this group chart in configuration
• Once an operating chart has been assigned to a
group chart, the Group account number field
becomes required in the chart of accounts
segment of the master record
Lesson Summary
• Describe the special role of reconciliation
accounts
Accounting Transactions –
Processing in The General
Ledger
Lesson Overview
• Learn how to create G/L postings using both the
Enjoy and the traditional complex posting screen
• Analyze the structure of the financial document
• Examine the effects of the postings by analyzing
the transactions on the posted accounts and by
running the balance sheet
• See how external and internal Accounting are
integrated by using cost elements
Lesson Objectives
• Execute G/L postings using the Enjoy transaction
screen and the traditional screen for complex
posting
70
Accounting Document
• A financial accounting document (FI document) records
the impact (financial data) of a transaction step on
financial accounting
• An FI document consists of a header section and a detail
or line item section
• The header includes data that apply to the entire document, such
as document number, document type, various dates, company
code, currency used, and a reference number
• A document type is a two‐character code that identifies the
specific business process step that generated the document
• Commonly used document types include customer invoice (DR),
customer payment (DZ), goods issue (WA), and goods receipt
(WE)
• A document type determines the document number
range and the account type associated with the posting
Structure of An FI Document
Accounting Document (Cont.)
• The detail section typically consists of two line items: a
debit item and a credit item
• Each line item includes the account number from the
general ledger, a description of the account, an indication
of whether the account is debited or credited, and the
amount
• The debit or credit is indicated by a posting key, which is a two‐
digit code that determines how a line item is posted
• Specifically it identifies the account type, indicates whether the
line item is a debit or credit posting, and specifies the field status
of additional data needed to post the item
• Examples of account types are customer (D), vendor (K), asset
(A), material (M), and general ledger accounts (S)
• Examples of additional data are cost centers and business areas
Posting Keys Examples
G/L Account Postings
G/L Account Postings
• Beginning with R/3 Release 4.6, user can comfortably create and
post a G/L account document using a one‐screen transaction
• The entry screen is divided into the following areas:
• Work templates
• User can select screen variants, account assignment templates, or held documents as
references
• A held documents is a document that a user saves without posting it, with the idea
that the user will complete and post the held document later
• To return to the original line layout of the GL document entry table, right‐click on the
screen, and choose Reset screen variant
• Header data
• Applies to the whole document, such as posting date and document type
• Some of the header data can be in display format only, or hidden from the user via
editing options
• Line item information
• Here, line items of the document are entered
• Information area
• Here, the debit and credit balances are displayed by using a traffic light icon
G/L Document Entry Enjoy
Screen
Standard/Complex Postings
• Complex or general postings correspond to the old, more
difficult standard posting transaction (t‐code: FB01)
• In the initial screen, user enter the data for the document
header. Additionally, user enter the posting key and the
account for the first line item. The posting key provides
the system with information regarding the account type
(G/L account, customer, vendor, asset and material) and
can influence the layout of the entry screen for the line
item, which will be seen in the next screen. The key
driver of the layout of the entry screen for the line item is
the field status group of the account that is being posted
to. User saw the field status group in the company code
segment of G/L master records.
(Cont.)
• With this information (posting key and field status group of the
account to be posted to), the detailed entry screen for the first line
item is set up. When user choose Enter, user proceed to the next
screen, which contains the Amount field and Additional account
assignment fields for the first line item. This includes, for example,
business area, text, and Cost Center.
• At the bottom of the second screen, user enter the posting key and
account for the second line item of the posting. When user choose
Enter, user proceed to the third screen, which contains the Amount
field and Additional account assignment fields for the second line
item. User continue with this same process for all the line items that
make up the posting.
• In order to pass information from Financial Accounting to
Management Accounting, a cost element for the expense account to
be posted to must exist. A primary cost element can be created
automatically when a new G/L account is created. Cost/revenue
elements only exist for P&L accounts. User can branch to the cost
element from the G/L master record.
G/L Document Entry Complex
First Screen
G/L Document Entry Complex
Second Screen
Important Standard Document
Types
Document Types
• Document types are used to distinguish between
and order various accounting documents easily
• Each document is assigned to one document
type, which is entered in the document header
• Document numbers are provided by the
document number ranges assigned to one or
more document types
• For G/L account postings, document type SA is
most often used, although other document types
are possible, such as accrual/deferral documents,
valuation documents, and so on
Posting Key
Posting Key
• Each line item contains exactly one posting key
• Posting key is an instrument that is used for internal control and is
entered in the complex posting screen to tell the system:
• Which account type is being posted to
• Whether the line item is a debit or credit posting
• In the Enjoy transaction, user no longer need to enter the posting key
• Instead, debit represents posting key 40 and credit represents posting key
50
• These posting keys appear in the document and their control functions are
still relevant
• In the SAP system, there are a large number of standard posting keys
• Each posting key is used for posting either a debit or a credit to one
account type
• For postings in the general ledger, user need only two posting keys:
• 40, for debit items
• 50, for credit items
Standard Posting Keys
Account Information
Account Information
• Account information can be obtained at three levels—account balance
display, line items display, and original FI document
• The balance display and the line item display are provided to display the
account data
• The Line item display is only possible for G/L accounts for which the
corresponding Function has been activated in the master record
• The balance display is an overview of the saved transaction figures of an
account
• User can drill down from the balance to a list of the items that make up the
balance
• From this line item list, user can drill down to the document containing this
line item
• From there, user can see the complete transaction by selecting Document
overview
• If there is an original document for this mySAP ERP document and it was
archived optically, user can display it as well
Account Information
Lesson Summary
• Execute G/L postings using the Enjoy transaction
screen and the traditional screen for complex
posting
Unit Summary
• Describe the purpose of company codes and business areas
• Describe the options for assigning company code(s) to a controlling area
• Describe the special role of reconciliation accounts
• Execute G/L postings using the Enjoy transaction screen and the traditional
screen for complex posting
Test Your Knowledge
1. A legal entity is represented by a ____________________ in SAP.
2. Key business segments are represented by ____________________ in SAP.
3. More than one company code can be assigned to a controlling area.
o True
o False
4. To which chart of accounts must a company code be assigned in order for
postings to occur?
 A. Group
 B. Country
 C. Operating
 D. None of the above
 E. All of the above
5. What are the two parts of a G/L account and what are the two reports that
show those parts?
Test Your Knowledge (Cont.)
6. The ____________________ is assigned a number range. This controls how the
Company Code segment of a G/L account is displayed on the screen.
7. Reconciliation accounts can be posted to directly.
o True
o False
8. The ____________________ determines the structure of a balance sheet and an
income statement report: This specifies which accounts correspond to
which items in the report.
9. A document consists of two parts: a ____________________ and the
____________________.
10. There are two posting keys for postings to G/L accounts: ____________________
for debit postings and for ____________________ credit postings.
11. It is possible to drill down from an account balance to the line items that
make up that balance for all G/L accounts.
o True
o False
Test Your Knowledge (Cont.)
12.A posting key allows posting to just one account type.
o True
o False
13.When a document is posted, a number is assigned to that
document. This number comes from number range assigned
to the ____________________ in the header of that document.
14.In order for information to pass over to the controlling
module when posting to an expense account as part of an FI
transaction, a ____________________ must exist for the expense
account that is being posted to.
15.When a transaction is posted in FI, it automatically appears
on the balance sheet.
o True
o False

02-General Ledger Accounting

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02-General Ledger Accounting

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SI0014

Purchased Raw Materials Raw Materials Cash

Sales Cash Goods

Paid Salaries Salaries Cash

Discount Received Cash Discount

Commission Paid Commission Cash

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