1.Why my cross validation rules not working?
·
The
desired combination may be already used.
·
The combination entered manually in account
combination.
·
If you uncheck the cross validate segments in
key flex field segment form.
·
If we uncheck enable check box at define cross
validation rule.
2.List any six-validation reports of calendar.
- The following periods have a date gap.
- The following periods overlap.
·
The following periods number are greater then the maximum
period number for this period.
·
The following periods number are missing.
·
The following periods number are not in sequential order by
date.
·
The following quarters are missing.
·
The following quarters are not in sequential order by
period.
·
The following periods start or end rates are more than one
year before or after its fiscal year.
3.Briefly explain the
steps for Mass Allocation.
Allocation of
account balance to the range of segment values for specific period.
Steps for mass
allocation.
·
Define parent Segment and assign child ranges.
(N):
Setup/Financial/Flex fields/Validation
·
Enter stat journals.
·
Define mass allocation Formula. (N):
Journal/Define/Allocation
·
Validate the
formula.
·
Generate Mass Allocation.
·
Post the entry.
Q4.Difference between
Translation & Revaluation
|
Translation
|
Revaluation
|
|
Translation is
done from functional currency to Reporting currency.
|
Revaluation is
done to know the actual balance on specific date with respect the prevailing
foreign exchange rate of a particular account.
|
|
In translation
Period end rate & Average rates are used.
|
In Revaluation
Only Period end rate is used.
|
|
Translation is
Optional.
|
Revaluation is
mandatory.
|
|
Difference in
Translation will be transferred to “Translation adjustment account”.
|
Difference in
Revaluation will be transferred to “Unrealized Gain/loss account”.
|
|
Translation
should satisfy the conditions, namely, 1. Prior & following period should
be opened; 2. It cannot perform for the first period
|
No Condition is
required for revaluation.
|
5.How do I enable Cross
Validation?
Check the Cross
validate Segments and Check the Freeze flexfield defination and compile in Key
Flexfield segments.
6.Can you define cross
validation rules for a set of books?
No, Cross
validation rules are specific to chart of account.
7.Can you run revaluation
again in a previous period?
Yes, we can run
revaluation again in a previous period. But the revaluation will effect the
transaction, which are entered after the First revaluation.
8. On what basis auto
post criteria set will be created.
On the basis of
Priority, Source, Category, Balance type & Period the auto post criteria
set will be created.
9.Briefely explain the
purpose of Revaluation.
Revaluation is
done to know the actual balance on specific date with respect the prevailing
foreign exchange rate of a particular account.
10. Is it possible to do
Translation for more than one segment at a time?
Yes. In
translation you having the option “All” under balancing segment TAB by
selecting it we can do the translation for more than one segment.
11. Can you generate
Recurring journal more than once in one period?
Yes, recurring
journal means Journal, which are repetitive in nature. In a particular period a
journal may be expected for more than once .So we can generate Recurring
Journal more than once in one period.
12.What are the steps for
revaluation?
Steps for
Revaluation:
·
Define the daily rate using the conversion rate and type.
·
Define the period end rate.
·
Define unrealized gain /loss account
·
Perform Revaluation for the particular account.
13. Can you allocate part
of your cost pool account by using Mass Allocation? If yes, how will you define
formula?
Yes, by entering
desired amount in the amount column of cost pool A/c. or by entering base
number in the amount column of sum of usage factor.
14 What are the available
segment types in mass allocation?
Three segment
types are available in mass allocation.
Constant (C),
Looping (L), Summing (S)
15.Explain the concept of
recurring journals.
Recurring
journals means journals, which are repetitive nature in a year. On the basis of
amount recurring journals are three types.
·
Skeleton journal
·
Standard journal
·
Formula journal
Skeleton journal
means journals have same account but have different posting amounts.
Standard journals
means journal entries use the same accounts and amounts in each period.
Formula journal
means journal entries use formulas to create journal amounts that vary from
period to period.
16.Do you think
Translation and Revaluation are mutually exclusive?
Yes, The
translation and revaluation independent with each other, there is no relation between translation and
Revaluation. We can have both in a single set of book.
17.Can I use stat journal
of previous period for mass allocation.
Yes, you can use
stat journal of previous period by Using amount type as PTD and period type as
previous period in mass allocation or by using amount type as YTD and period
type is current period you can use the stat journal for the entire year.
18.What is the difference
between full and incremental allocation.
|
Full Allocation
|
Incremental
Allocation
|
|
Full
allocation method to generate journals that reverse previous allocations or
to post new allocation amounts.
|
Incremental
allocation method when you want to update allocated balances without
reversing the previous allocation batches.
|
|
Recommend
that you use this method only if you are allocating amounts for the first
time, or only once.
|
Recommend
that you do not use the incremental method the first time you generate a
Misallocation entry.
|
19.Is there any
difference between definition of period rates and historical rates?
|
Period rate
|
Historical rate
|
|
The daily exchange rate on the last day of an accounting
period
|
A
weighted-average rate for transactions that occur at different times
|
|
In translation
period end rate is used to translate the assets and liability account
balances.
|
Historical
rates to translate owner's equity accounts
|
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