Question { Samsung, 7309 }

What is the Significance of Open Item of B.R.S. in SAP.

Answer

B.R.S= Bank Reconciliation Statement Itmes.

Significance: Open items in SAP means, there are some
transactions which will be appearing and some transactions
which will not be appearing on a particular period and this
open itmes will be derived by reconciling the SAP book
entries with the Bank statement(Statement received from
Bank) and the missing itms in any of those records will
emerge as a Open items.
Through this open items Books the fact of the case can be
ascertained and the relevant recording of entries into SAP
will be happening. Similarly, Banks also can be questioned
for any un authorised and un usual and irreevant
transaction in our account(Company Account). Thus, open
itmes makes a real significance in doing BRS.

Question { 4842 }

what is the jurnet entry ? why

Answer

Journal Entry means recording of Transactions which will
effect the Books.
Journals entries can be passed only for non-cash items.
Bank Entries should not passed through JEs(Of course, in
ERP environment, it is possible)

This used to rectify the errors happened in one account to
other,
Closing Entries will be passed through JEs

Journal Entries are the one which will also be the deciding
factor for Profit Loss Account.

Question { 4569 }

what is the differene between sheduler bank and non
sheduled bank with respect to crr and slr?

Answer

Scheduled Bank is nothing but State bank Of India and other
banks which are under SBI control (SBI-Authorised Agent of
RBI) .Other Banks are Non-scheduled Banks.

In respect of CRR(Cash Reserve Ratio) and SLR----RBI(SBI)
will maintain the Cash by itself whereas SLR(Statutory
Liquidity Ration) will restric the Exconomy by increasing
and decreasing the interest rate within themselves to waive
of the inflation in Goverment securities.