Answer / ramesh mehla

In which country u r working that is called local currency
and when you select local currency of the country then all
transaction will be made into such currency

Answer / suvankar pal

In G/L account if we select local currency then we can post
any documents in any currency but if we choose foreign
currency then we can only post the document of the same
foreign currency.

Answer / 10

Local currency in G/L is taken for balancing point.Setting
local currency indicator in GL master account affects the
way A/c Balances are stored in GL summary. If this
indicator is set, the GL balances are updated only in local
currency.

Foreign Currency valuation of GL accounts where the
indicator "only balance in local crcy" is set is affected
in the following manner depending upon the type of account

* If the account for which only balance in local currency
is set, is an open item managed account, i.e: the
indicator "Open Item Management" is also set in the GL
account master.

* If the account for which only balance in local currency
is set, is a non-open item managed account, i.e: the
indicator "Open Item Management" is also not set in the GL
account master.

Answer / satish.r

when u check amounts in local currency in the GL, you can
post a transaction in any other currency, even u can post a
foreign currency in to your company code, provided u have
to set the exchange rate difference in IMG for the foreing
currency rate of that country

When u set only foreign currency, you can post only in that
specific foreing currency.

Answer / srilatha

if we select local currency in G/L account all the balances
of that particular account will disply in that country
curren





cy. for example company is in india then currency will
display in rupees. if company is in us then currency then
it will display in dollars

Answer / prabha

When this option is selected, the balance of that particular account will display the balances only and only in local currency even though it has transactions dealing with foreign currency.
Simply speaking, that account balance does not display total of the foreign currency.

Answer / shashi ranjan pandey

Hi

I am SAP functional consultant.

How to balance carry forward in SAP. Both Monthly and Yearly. Thanks.

1 Answers  

How do you create gl account master data? : fi- general ledger

0 Answers  

In movement type(mm), what is value & quantity string? It updates values and quantities in gl with valuation class, transaction key modifier and gl a/c. But how does it work when doing a mvt type?

0 Answers  

When I post any transaction in F-02. Showing error as "No amount tolerance range entered for company code" and if i press enter again for the 2nd time, its showing error as "Company code not assigned to country or country to calculation procedure". Please provide me a solution for this? For this I got the answer "remove tolerance group from GL account and to assign some tax procedure to country with out this sap system does not allow any transactions in system.so procedure for assigning tax procedure is mentioned below. --->Financial Accounting---->Financial A/c Global Settings---->Tax on Sales/ Purchases---->Basic Settings---->Assaign Country to Calculation Procedure----> Select Position Button Country----> IN Press Enter For Counry IN Assaign Procedure ----> TaxUS-Sales Tax Select Save Button or CTRL+S. Press Enter to save in your request. I've done following the same procedure However, Now I am getting New error as "Maintain conversion factors for EUR/INR (Currency type M)". I am unable to go further. Please give me the solution for this? (Thanks to Mr prasad for your valuable answer)

4 Answers  

what is asset accounting?

3 Answers  

1. in vendor/creditor A/c should we select balance in local currency as they are reconcilation accounts 2.what is the difference between vendor invoice clearing A/c (f.13) and vendor payment (f-43)

2 Answers  

what is difference apportionment of costs, overhead expenses and how do they differ

0 Answers   Infosys,

WHAT IS THE MEANING OF MAINTAIN PERIOD CONTROL METHOD ? WITH EXAMPLES

1 Answers  

can we create a fiscal year variant with more than 16 (12+4)posting periods? if so wat is the procedure?

10 Answers  

Hi i am MBA-Finance guy, was working with J P Morgan for one n half yrs, i have decided to move to SAP and so preparing for FICO on my own for the last one month.....dont know which are all the area i should cover before the interview...is it enough if i cover the basic configurations of GL,AP,AR and Asset Accounting or which are other areas?....hw for i should b through in the above mentioned areas...and also i dont want to waste time by preparing at home for a long time... how should i prepare....your advice is appreciable.

3 Answers  

pls can anybody help regarding posting of vendor payment rs.100000 & discount receivid 5000 through f-43? & I configured in payment terms to customer a/c ok fine( the transaction key for customer is skt something! ok. where as in vendor payment term the transaction key not appearing, kindly post the possible reply to post discount received payment to vendor in detail. regards, pavitra

0 Answers  

In Asset accounting I have 10000 Assets with me and we have posted depreciation for all the 10000 assets for the month of March Now we are in April and my account is saying that there are 5 assets need to be reversed due to some reason and he has asset numbers also, they are using ECC Can this be done ? As a consultant what will be the solution you give on this scenario?

1 Answers   Kaar Technologies,