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Correct Answers from eLearning
1. In a company that closes a period on a quarterly basis:
- A delivery note with a large amount of items was posted on March 31st
- The A/R Invoice for this delivery was issued on April 2nd
Would that be a problem in the Profit and Loss report for first
quarter?
Correct Answers:
If the business is closing periods and reports on a quarterly
basis, it shows a 'loss' for period 1 and 'gain' in period 2.
Therefore, one the Period-End Tasks will be: to ensure you invoice all
deliveries in the same period.
Source eLearning: FINANACILAS - Period end closing [time 06:02]
2. Journal Entries posted by Period-End Closing Utility, because they have the origin "BC".
3. We cannot change the Local or System Currency once the company started to work with database. [Financials > Currencies, Time 08:48]
4. The total row amount and the total document value are converted and presented into the Business Partner's currency - the local currency. [Financials > Currencies, Time 10:02]
5. You do not need to define the customer currency as foreign to display prices in foreign currency. 01:54