Problem: I have to come up with a solution in order to capitalize assets in 2 different accounting principles. 1- following IFRS requirements and 2 – Local requirement. Solution: 1. If you determine these costs from the cost center then you can have different (assessment cycle) postings and then accordingly capitalize the same. 2.You can create [...]
Question: What is the difference between RAR configuration and GL configuration. My past projects had testing areas like RAR, OTC and PTP. But I never understood the logic why they are not bifurcating processes as GL, AR and AP. Answer: RAR(or R2) It consists of Intercompany, Bank reconciliation, Asset accounting and Reporting OTC means Order to cash [...]
What is the difference between company and company code? A company is the organizational unit used in the legal consolidation module to roll up financial statements of several company codes.The Company Code is the smallest organizational ! unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. [...]
1. The length of G/L account number should be mentioned in Chart of accounts. 2. The G/L account becomes a complete G/L account if we have added the company code segment to chart of account segment. 3. If we are using the same chart of account in more than one company code the account name [...]
