In SAP MM ECC6.0, the reconciliation account for the Vendor Master record is created for which of the following reason ?
(only one answer)
(A) Bank reconciliation is the General Ledger for accounts payable payment by Bank transfer or cheque.
(B) Bank reconciliation in the General Ledger for accounts payable payment by cheque only.
(C) It provides the means of handling the vendors open item balances as well as payments.
(D) It provides the control account for a possible group of vendors in the General Ledger.
(E) It provides the account number for the subledger number in FI where the total liabilities are updated per vendor.
.
(only one answer)
(A) Bank reconciliation is the General Ledger for accounts payable payment by Bank transfer or cheque.
(B) Bank reconciliation in the General Ledger for accounts payable payment by cheque only.
(C) It provides the means of handling the vendors open item balances as well as payments.
(D) It provides the control account for a possible group of vendors in the General Ledger.
(E) It provides the account number for the subledger number in FI where the total liabilities are updated per vendor.
.
Answer: D
ReplyDeleteIt is a Control Account in G/L as well as being a Balance Sheet Account.
ReplyDeleteThis is one of those Accounts that is directly stored within a Parameter (in this case, the Vendor Master) without using the process of Account Determination rules.
ReplyDeleteAt the successful posting during Invoice Verification, this account will be credited.
ReplyDelete