Unit: Financials

Topic: Manage the Chart of Accounts

1.1

Transactions
Which function do you use to change the properties for a G/L account?
Financials Chart of Accounts

Which function do you use to remove an account from your chart of accounts?
Financials Edit Chart of Accounts

1-2

Create a balance sheet title and an active account.

1-2-1

Create a new title.

Choose Financials Edit Chart of Accounts.

1-2-2

Define the bank G/L account.

Choose Financials Chart of Accounts

1-3
Create an expense account.
Choose Financials Chart of Account

1-4

Delete an account.
Choose Financials Edit Chart of Accounts.

2-1

Post a journal entry.

Choose Financials Journal Entry.

2-2
Check postings.
2-2-1 Display balance.
Choose Financials Chart of Accounts.

2-2-2 Display the journal entry.

2-3

Reverse a journal entry.

Choose Financials Journal Entry.

3-1

Create a journal voucher.

Choose Financials Journal Vouchers.

3-2

Change and post the saved journal voucher.

Choose Financials Journal Vouchers.

Highlight the journal voucher you just created.

Double-click one of the transactions and change the data in the journal
voucher entry.Choose Update. Choose OK.

In the Journal Vouchers window, choose Post Voucher.

3-3

Choose Yes to the system message. Check whether the postings have been
made in the general ledger.

Choose Financials Journal Entry.

Choose Previous Record to display the second entry you posted to the
Journal Voucher. Choose Previous Record once more to display the
first entry you posted to the Journal Voucher.

True or False?
3-3-1

You can add a journal entry to a journal voucher only if the items on
the credit and debit sides balance.
False. You can also add journal entries to a journal voucher even if the
credit and debit sides do not balance. You do not have to balance the
journal entries until you post the journal voucher to the general
ledger.

3-3-2

You cannot post individual journal entries from a journal voucher to

the general ledger.

True. When you post the voucher, the system posts all journal entries
in the voucher.

3-4

Use posting templates.

3-4-1 Create a posting template.
Choose Financials Posting Templates.

3.4.2

Use the posting template.

Choose Financials Journal Entry.

3-5

Execute recurring postings.

3-5-1 Create recurring posting.

Choose Financials Recurring Postings.

3.5.2

Execute the recurring posting.

Choose Financials Recurring Postings.

PERIOD END CLOSING

1-1

Questions
1-1-1 What type of accounts do you have to reconcile internally?
Internal reconciliations are generally required for clearing accounts,
such as the Goods Receipt/Invoice Receipt account (Allocation
account). The internal reconciliation reconciles debit items with credit
items and thereby confirms that the business transaction has been
completed. Internal reconciliations are required occasionally for
business partner accounts if the account was not reconciled during
payment processing.
1-1-2 What is the difference between system reconciliation and user
reconciliation?
System reconciliation is performed by the system when you assign a
payment to an invoice. User reconciliation is performed by the user
through the Reconciliation function.
1-2

Internally reconcile a G/L account.

1-2-1 Use the manual reconciliation type.
Choose Financials Internal Reconciliations Reconciliation.

1-2-2 Use the semi-automatic reconciliation type.

Choose Financials Internal Reconciliations Reconciliation.

1-2-3 Perform an automatic reconciliation.

Choose Financials Internal Reconciliations Reconciliation.

1-3

Cancel the reconciliations.

Choose Financials Internal Reconciliations Manage Previous
Reconciliations.

1-4

Internally reconcile a business partner.

Choose Business Partners Internal Reconciliations Reconciliation.

2-1

Close out the Profit and Loss Accounts

Choose Administration Utilities Period-End Closing.

2-2

Review the Posted Journal Entries.

Choose Financials Journal Entry.

AGING AND DUNNING

3-1

Run the Customer Receivables Aging report.

Choose Reports Financials Accounting Aging Customer
Receivables Aging.

3-2

Run the Vendor Liabilities Aging report.

Choose Reports Financials Accounting Aging Vendor

Liabilities Aging.

3-3

Dunning (Optional)
3-3-1 Create an A/R Invoice with past Due Date
Choose Sales A/R A/R Invoice.

COST ACCOUNTING

4-1

Define profit centers.

Choose Financials Cost Accounting Profit Centers.

4-2

Create a distribution rule.

Choose Financials Cost Accounting Distribution Rules.

4-3

Assign the distribution rule to an expense account.

Choose Financials Chart of Accounts.

4-4

Allocate costs.
4-4-1 Choose Purchasing A/P A/P Invoice.
Choose vendor V50000. Select Service in the Item/Service Type field.
Select the expenses G/L account that you linked to the Heatco
distribution rule. Enter 500 as the amount.
Enter a Posting Date.

Add the invoice.

4.4.2

Choose Financials Journal Entry.

4.5 Run the profit center report.

Choose Financials Cost Accounting Profit Center Report.

4-6

Use Projects.
4-6-1 Define a project.
Choose Administration Setup Financials Projects.

4-6-2 Post an A/P invoice for the project.

Choose Purchasing A/P A/P Invoice.
.

4.7

Report Project Costs in a Profit & Loss Report

Choose Financials Financial Reports Financial Profit and
Loss Statement .

FINANCIAL REPORTS
1-1

Create a financial report template.

Choose Financials Financial Report Templates

1-2

Run a balance sheet report.

Choose Financials Financial Reports Financial Balance Sheet.