Nilkamal: - Now, there is a ‘Reconciliation Account for Account Type’ field. First you need to know the essence of a reconciliation account. The reconciliation account is that account, which ensures the integration of the sub-ledger account into a general ledger. We will deal with reconciliation accounts later.
Ravi: - Sir, in this form, the system is asking for an alternative account number. What should we enter in the ‘Alternative Account Number’ field?
Nilkamal: - You can enter the account number from the Legacy System by using Legacy System Migration Workbench (LSMW). Say in Tally, your account number is 3401. Now, when you are transferring that account into SAP, the account number becomes say 67901. This account number 67901 will be your alternative account number. You can also add the account number from the country chart of accounts, if the corporate group uses a standard chart of accounts. Now, let us understand the ‘Account Management in Company code’ tab. When you click on the ‘Account Management in Company Code’ tab, you will find 5 key fields. They are: - ‘Open Item Management’, ‘Line Item Display’, ‘Sort Key’, ‘Authorization Group & Accounting Clerk’ and ‘Authorization Objects’. The ‘Open Item Management’ indicator determines that open items are managed for the accounts. Items posted to accounts managed on open item basis are marked as open or clear. The balance of these accounts is always equal to the balance of the open items. The ‘Line Item Display’ indicator enable line item display for the account. That is, a display of line items from one or more accounts.
Manoj: - but, Sir, what is a line item basically?
Nilkamal: - Line item is that part of a document which contains information on a single item. Here, an item includes the amounts, account number, the nature of the transaction whether it is a debit or credit and the additional information depending on the transactions to be posted. For every line item, an entry is saved in an index table. This entry contains the connection between the line item and the account. Say 3 transactions of 1000 bucks each have taken place. In the account transaction account, the total amount is showing 3000 bucks, but for this account transaction there are 3 line items in the index table displaying the amount of 1000 bucks each.
Paul: - What does this Sort Key field indicate?
Nilkamal: - It indicates the layoff rule for the allocation field for the document line item. It is the field to search data branchwise, regionwise or productwise. That’s why, the Sort Key is declared.
Chaitanya: - Sir, does this ‘Authorization Group’ feature allows the extended authorization protection for particular projects?
Nilkamal: - Yes, of course, it does. The authorization groups usually occur in authorization objects together with an activity.
Dulal: - Authorization objects means? What is their role here?
Nilkamal: - Authorization objects are a type of elements of authorization concept only. Authorization objects enable a client to define complex authorizations by grouping up to 10 authorization fields in an ‘AND’ logical gate relationship to check whether a user is allowed to perform certain action or not. To pass an authorization test for an object, the user must specify the authorization check for each field in the object. In simple words, it assigns the roles for authorization to different users. Now, let us learn about the next tab, that is the ‘Joint Venture Data in Company Code’. Under this tab, there is a ‘Recovery Indicator’. In modern economic scenario, you will find that the global companies that belong to several joint ventures have their incurred costs shared among different recovery indicators, which can be settled through periodic settlement programs. In SAP FI module, we can define the recovery indicators at 3 levels. They are: - Document Type, Cost Element and Cost Object. After defining the recovery indicators, we need to declare the bank charges or interests in the tab ‘Create Bank/ Interest’. Under this tab, you need to assign a ‘Field Status Group’ and all the posting will be done automatically only. For some line items, there is an indicator ‘Supplement to auto-postings’, through which the automatically generated line items can be supplemented manually. The ‘Relevant to Cash flow’ field determines that the G/L account is a cash flow account.
Arindam: - Sir, what is House Bank and Accounting ID?
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