BSAR RTR

_______________, ___________ and ______________, are the needed extractions in SAP FICO in order to do the Interco Reconciliation. (T-code)

• ZCFINR03201, ZCFIR115, FAGLL03

• ZCFINR03201, ZCFIR002, FAGLL03

• ZCFINR03201, ZCFIR072, FAGLL03

• ZCFINR03201, ZCFIR002, FAGLB03

We do the inter-co matching first by ____________, then match against _____________ for the Open Items left

• own book; counterparty book

• own book only

• counterparty book only

• we only do matching by Interco balance

If there are inter-co variances after confirming the variance is due to one party haven’t captured the transaction, who will make the adjustments?

• Both parties

• No adjustment should be made

• The party who does not have the transaction

• The party who have the transaction

TRUE or FALSE. The Interco Accounts and Matrix tab show the summary balances of each Interco GL Accounts of respective Trading Partners

• True

• False

TRUE or FALSE. After adding the MTD GL transactions in the account Schedule worksheet, the next Step is match items and move the cleared/matched transactions to the Matched Items worksheet

• True

• False

It is an accounting term for the payment of goods or services in advance before its official due date

• General Ledger

• Accrual

• Prepayment

• Reconciliation

________________ of prepaid expenses is an accounting process that calculates the incremental or periodic cost of a recurring expense that has been paid for in advance and applies the cost back to each of the individual accounting periods that benefit from the payment.

• Reclassification

• Amortization

• Accrual

• Reconciliation

For prepayment process, as you use the prepaid item, Prepaid account _________, and Actual Expense account ________ (Dr Expense / Cr Prepaid) based on the policy or prepaid set up. Once the item is used, this account should be zero, and the Expense account should show its full value.

• decreases, increases

• both increases

• both decreases

• increase, decreases

TRUE or FALSE. Prepayment schedule can be used as supporting for the Prepayment reconciliation which shows the details for prepaid set-up, amortization, coverage period and remaining balance for prepayment items

• True

• False

TRUE or FALSE. The purpose of prepayment reconciliation is to make sure that the Prepayment accounts are amortized regularly depending on the terms of the Prepayment and correct recognition of expired and unused portion of the Prepaid Item.

• True

• False