Sap questions for certification
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The system display debit in black with blue background and credit in green
The amounts are usually (+)ve . The (-)ve amount indicates reversal posting.
The balances is the difference between the sum of all credit posting and the sum of all debit posting.
Usually, the system display a credit balance with (-)ve sign because the credit balance represent expenditure in an asset account.
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Recurring posting use a template that is stored with a code and a description.
You must specify the next execution date for recurring posting
One time recurring posting is not possible in SAP B1
Journal entry that you need repeatedly but not regularly basis, access template from manual journal entry.
The system duplicate the original recurring posting every time the execution date arrives. Once you use this instance and add it to the system, it will be deleted.
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Internal reconciliation refers to the matching or clearing of open credit items to open debit items within an account.
For customer account a receivable (credit) must be followed by an Incoming payment (debit).
For vendor account a liability (credit) must be followed by an outgoing payment (debit).
For good receipt/Invoice Receipt account (GR/IR), each incoming invoice (credit) must correspond to a good receipt (debit).
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