What is the month end activiy of GR/IR clearing account and
FOREIGN CURRENCY VALUAION.pls give me ans in detail
Answer Posted / divyesh patel
Foreign currency Valuation: When open items in foreign currency are valuated, the differences between the exchange rate determined at date of revaluation (month end) and the historical rate is posted as unrealised exchange rate difference.
The revaluation posted will be reversed automatically in the next month.
GI IR in Month end :
This transaction is used to clear open items in GR/IR clearing accounts that have matching Purchasing Doc Number & Item (e.g.. when Goods Receipt & Invoice Verification have been posted for the PO Number & Item)
Open Items are cleared when the total amount of the matching items total to zero.
Is This Answer Correct ? | 12 Yes | 0 No |
Post New Answer View All Answers
What are account assignment models? : co-pa
For a company code how many currencies can be configured?
In accounts receivable, what is the difference between the 'residual payment' and 'part payment' methods of allocating cash?
What do you enter in company code global settings? : fi- general ledger
What is a release order? : fi- accounts payable
How many numbers of line items in one single entry you can have?
What do yo mean by document type control? What entries do you make in company code global settings?
What is a year dependent and independent fiscal year variant?
what is an automatic posting? : fi- general ledger accounting
Hi, Here is an interview question. What are errors we will face in FI-MM, FI-SD, COPA integration. How u will solve. Sravan
what is cr in sap
name three distinct characteristics of fi-gl? : fi- general ledger
What are the basic steps to using the fi module?
In sap fico what are the terms of payment and where are they stored?
What is a document header? : fi- general ledger