Answer / ramesh mehla

In which country u r working that is called local currency
and when you select local currency of the country then all
transaction will be made into such currency

Answer / suvankar pal

In G/L account if we select local currency then we can post
any documents in any currency but if we choose foreign
currency then we can only post the document of the same
foreign currency.

Answer / 10

Local currency in G/L is taken for balancing point.Setting
local currency indicator in GL master account affects the
way A/c Balances are stored in GL summary. If this
indicator is set, the GL balances are updated only in local
currency.

Foreign Currency valuation of GL accounts where the
indicator "only balance in local crcy" is set is affected
in the following manner depending upon the type of account

* If the account for which only balance in local currency
is set, is an open item managed account, i.e: the
indicator "Open Item Management" is also set in the GL
account master.

* If the account for which only balance in local currency
is set, is a non-open item managed account, i.e: the
indicator "Open Item Management" is also not set in the GL
account master.

Answer / satish.r

when u check amounts in local currency in the GL, you can
post a transaction in any other currency, even u can post a
foreign currency in to your company code, provided u have
to set the exchange rate difference in IMG for the foreing
currency rate of that country

When u set only foreign currency, you can post only in that
specific foreing currency.

Answer / srilatha

if we select local currency in G/L account all the balances
of that particular account will disply in that country
curren





cy. for example company is in india then currency will
display in rupees. if company is in us then currency then
it will display in dollars

Answer / prabha

When this option is selected, the balance of that particular account will display the balances only and only in local currency even though it has transactions dealing with foreign currency.
Simply speaking, that account balance does not display total of the foreign currency.

Answer / shashi ranjan pandey

Hi

I am SAP functional consultant.

1 suppose in f-02 you didnot fill any thing in profit center field ,then it will gives the error,what you have to do? 2 dummy profit center is mandatory/not?

3 Answers   IBM,

How do you go about configuring asset accounting?

0 Answers  

Am a Sap Fi trainee learning the process, i came across a topic Foreign currency valuation. my doubt is whether foreign currency valuation and foreign currency revaluation is one and the same?

0 Answers  

what is statistical and real? What is Statistical Key Figure?

3 Answers  

what is validation &substution

1 Answers   IBM,

How to do dunning for vendor? What are the purposes of dunning for vendors?

0 Answers  

1.HOW TO SPECIFY THE BANK OVER DRAFT LIMIT IN SAP TO BANK ACCOUNTS 2.IN ACCOUNTS PAYABLE FOR APP HOW TO PROCESS THE RECEIPT IN CASE FOR A VENDOR WHO IS ALSO A CUSTOMER AND FROM WHOM AMOUNT IS RECEIVABLE.

0 Answers   MM, TCS,

What differentiates one dunning level from another? : fi- accounts receivable

0 Answers  

I have went to an interview, there I faced one question that is the what is the problems I have faced during my projects? But the thing is that i haven't done any projects, just I gave some fake experience. Anybody plz. help me out what will be the answer, and if you can plz. mention atleast 1 problem with solution in each FI & CO which u have faced in your practical life. Plz. Gurus, help me out from this. Thanks in advance.

5 Answers  

in miro what is accounting entry along with tax?

3 Answers   Infosys, Keane India Ltd,

All fico interview questions

0 Answers  

what is the data associated while uploding data using lsmw?

4 Answers   Accenture,