What is a ‘Noted Item’?

Answer

Noted Items’ are never displayed on Financial Statements as they serve only as reminders of a financial obligation such as outstanding payments to be made or due to us, such as a ‘Down Payment Request.’ This kind of posting does not update any GL account in the system but helps to keep track of such obligations for easy follow-up. This is also sometimes referred to as a Memo Entry.’ It is interesting to note that while the Special GL Indicator for a Down Payment Request is ‘F,’ you need to enter the indicator ‘A’ as the target Special GL indicator while you are in the Down Payment Request Entry Screen. When you post this entry, the system creates a one-sided

memo entry for the customer or vendor but does not updateNoted Items’ are never displayed on Financial Statements as they serve only as reminders of a financial obligation such as outstanding payments to be made or due to us, such as a ‘Down Payment Request.’ This kind of posting does not update any GL account in the system but helps to keep track of such obligations for easy follow-up. This is also sometimes referred to as a Memo Entry.’ It is interesting to note that while the Special GL Indicator for a Down Payment Request is ‘F,’ you need to enter the indicator ‘A’ as the target Special GL indicator while you are in the Down Payment Request Entry Screen. When you post this entry, the system creates a one-sided
memo entry for the customer or vendor but does not update  the GL

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1. Explain the ‘Account Payables’ Sub module?

2. What Documents Result from ‘Procurement Processes’?

3. Describe a Purchase Cycle?

4.What is a ‘Purchase Requisition’ (PR)?
 5.What is a ‘Request for Quotation’ (RFQ)?

6.What is an ‘Outline Agreement’?

7.What is a ‘Contract’?

8.What is a ‘Release Order’?

9.What isa ‘Scheduling Agreement’?

10.  What is a ‘Quotation?

11.  What is a ‘Purchase Order’ (PO)?

12.What is a ‘PO History’?

13.  Will the FI Document be Created with the Purchase Order (PO)?

14.  Explain FI-MM Integration ?

15.  What Happens, in SAP, when You Post a ‘Goods Receipt’?

16.  Explain ‘Invoice Verification’ (IV) in SAP?

17.  How do You Deal with ‘Tax’ when You Post an Invoice?

18.What ‘Variances’ do You come Across in Invoice Verification?

19.  Outline ‘Vendor Payments’ in the SAP System?

20.  Explain ‘Automatic Payment Program?

21.  Explain ‘Automatic Payment Program’ Configuration?

22.  How do You Execute an ‘Automatic Payment Program’?

23.Can You Pay a Vendor in a Currency Other than the Invoice Currency?

24.  What is a ‘Payment Block’?

25.  How do You Release ‘Blocked Invoices for Payments’?

26.  What is the ‘Account Assignment Category’?

27.  What is a ‘Credit Memo’?

28.  What are ‘Special GL Transactions’?

29.Differentiate ‘Free Offsetting Entry’ from a ‘Statistical Posting?

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