In customizing “company code productive “means what? What does it denote?

In customizing “company code productive “means what? What does it denote?

Once the company code is live(real time transactions have started) this check box helps prevents deletion of many programs accidentally. This check box is activated just before go live.

How do you maintain the number range in Production environment?

How do you maintain the number range in Production environment? Do you directly create it in the Production box or do you do it by means of transport?
Number range is to be created in the production client. You can transport it also by way of request but creating in the production client is more advisable.

Controlling Area and Company Code relationship in SAP?

A Controlling area can have the following 2 type of relationship with a
Company code
a. Single Company code relation
b. Cross Company code relation
This means that one single controlling area can be assigned to several
different company codes. Controlling can have a one is to one
relationship or a one is to many relationship with different company
codes.
Controlling Area is the umbrella under which all controlling activities of
Cost Center Accounting, Product Costing, Profit Center and Profitability
Analysis are stored.
In a similar way Company Codes is the umbrella for Finance activities.

How many numbers of line items in one single entry you can have?

The number of line items in one document you can accommodate is 999 lines.

How many Chart of Accounts can a Company code have?

A single Company code can have only one Chart of Account assigned to it. The Chart of Accounts is nothing but the list of General Ledger Accounts.

Explain the importance of the GR/IR clearing account.

GR/IR is an interim account. In the legacy system of a client if the goods are received and the invoice is not received the provision is made for the same.

In SAP at the Goods receipt stage the system passes an accounting entry debiting the Inventory and crediting the GR/IR Account .Subsequently when an invoice is recd this GR/IR account is debited and the Vendor account is credited. That way till the time that the invoice is not received  the GR/IR is shown as uncleared items.

What are the master data pre-requisites for document clearing?

The Gl Account must be managed as an ‘open item management’ . This checkbox is there in the General Ledger Master Record called Open Item Management. It helps you to manage your accounts in terms of cleared and uncleared items. A typical example would be GR/IR Account in SAP (Goods Received/Invoice Received Account)

Basic organizational assignments to a company code in SAP?

Plants, purchasing organization, sales organization are assigned to the company code.

Is it possible to configure the system to pick up a different exchange rate type for a particular transaction?

Yes it is possible. In the document type definition of GL, you need to attach a different exchange rate type.

What is done by GR/IR regrouping program?

What is done by GR/IR regrouping program?
The balance in a GR/IR account is basically because of 2 main types of transactions:-
Goods delivered but invoice not received – Here the Goods receipt is made but no invoice has yet been received from the vendor. In such a scenario GR/IR account will have a credit balance.

Invoiced received but goods not delivered – Here the Invoice is received from the vendor and accounted for, but goods have not been received. In such a scenario GR/IR account will have a debit balance. The GR/IR account would contain the net value of the above two types of transactions. The GR/IR regrouping program analyses the above transactions and regroups them to the correct adjustment account. The balance on account of first transactions will be regrouped to another liability account and the balance on account of second  transactions will be regrouped to an asset account.

How does posting happen in MM (Materials Management) during special periods?

There is no posting which happens from MM in special periods. Special periods are only applicable for the FI module. They are required for making any additional posting such as closing entries, provisions. which happen during quarter end or year end.

What is company code in SAP

Company code is nothing legal entity, where we do perform all the operations like financial statements(ex: profit and loss statements and balance sheets.