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Detailing Special G/L Transactions in Accounts Receivable
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Explaining Special G/L Transactions
Explaining Special G/L Transactions
Outlining Special G/L Transaction Use Cases
10 mins
Posting Guarantees Made
15 mins
Posting Down Payments
15 mins
Quiz
Integrating Sales and Distribution and Finance Through Special G/L Transactions
Knowledge quiz
It's time to put what you've learned to the test, get 5 right to pass this unit.
1.
What is special about a noted item?
Choose the correct answer.
It creates no accounting document.
It makes no accounting entry on the accounts.
It creates a single line item.
2.
What are the main characteristics of the offsetting entries for guarantees made?
There are two correct answers.
They are automatic postings based on the special G/L indicator.
They update the main customer reconciliation account with a special G/L indicator.
They are statistical entries since they always balance with a specific clearing account.
They give you the option to define the reconciliation account during posting.
3.
When posting a guarantee made, the result shows up as what in the financial statements?
Choose the correct answer.
Expense
Liability
Revenue
Asset
4.
What kind of posting does the down payment process use?
There are two correct answers.
Automatic offsetting entry
Free offsetting entry
Posting to customer main G/L account
Posting to alternative reconciliation account
5.
What are the benefits of using alternative reconciliation accounts?
There are two correct answers.
They enable you to comply with statutory obligations.
They allow you to update each accounting principle separately.
They help you keep track of all the relevant posting together.
6.
When posting a special G/L transaction, which account is changed from the standard?
Choose the correct answer.
Customer account
Expense account
Supplier reconciliation account
Asset account