FI/CO

Question 1

Financial Posting Period

Answer 1

OB52

Question 2

Cost Centers

Answer 2

Responsible to collect expenses, which are typically established at the department, division, or branch level

Object where personnel are assigned
An area of responsibility for collecting overhead costs and capturing depreciation
Cost Center to Funds Center relationship has been set by NAVY ERP (one-to-one relationship at the 10 character level)
- Funding will be at designated higher level funds centers within the hierarchical structure for general fund commands

Question 3

Primary Cost Elements

Answer 3

represent expenses such as labor, materials, contracts, etc. and have a one-for-one relationship with the general ledger (GL) accounts
Ex: 6100.2352

Characters 7-9 = Object Class Code (OCC) used in the LOA i.e. 352

Material group derives the G/L account

Question 4

Secondary Cost Elements

Answer 4

Represent a type of expenditure movement within the CO/PS Modules

Question 5

Transfers within CO use..

Answer 5

Secondary Cost Elements

Time Entry Transfer
Labor Rate Variance Adjustments - LRVA - Automated follows GPR
Cost Transfers/Allocations = KB15N & ZICAB0001

Usage of secondary cost element can trigger creation of both CO documents as well as FI and FM postings

Question 6

CO Master Dat: Activity Types

Answer 6

Activity Types are required by the time entry system when charging labor to NWAs to establish the hourly rate

For BUMED, there is a single activity type for civilians
- DR0001 Default regular activity type @ $.01
- This is linked to secondary cost element 605708
- Labor rate then comes from Basic pay record in WFM

Question 7

Funds Center/Cost Center naming convention

Answer 7

Example: 180BUH3BAD

Characters 1-2 = Last 2 digits of the BUMED Company code (1718)
Character 3 = Constant “0” for BUMED
Characters 4-5 = Last 2 digits of the business area
Characters 6-10 = Branch, Department or special use – command defined

Question 8

FB03

Answer 8

Display Accounting Doc

Question 9

FB02

Answer 9

Change financial document

Question 10

F-02

Answer 10

Enter G/L Account posting

Question 11

FB50

Answer 11

Enter G/L Account Document

Question 12

FB04

Answer 12

Display changes to a FI Document

Question 13

FB09

Answer 13

Change Line item on FI Document

Question 14

FBL3N

Answer 14

Displays the G/L line items

Question 15

Protected fields on changing financial documents

Answer 15

Posting Amount
Account
Posting Key
Fiscal Year
Tax Amount

Question 16

ZCCCC0003

Answer 16

Cost Center & Initial GL Balance
Used for two purposes
1. Labor Accrual
2. Used by PMO to load initial GL balances from legacy systems into Navy ERP

Question 17

GR/IR GL accounts that should be monitored

Answer 17

2110.1901 (GR - MILSTRIP) affects the 4802 BL
- Check invoices for matching GR
- Monitor GRs with missing IRs

2110.1902 (Service) No transactions

2110.2901 (Goods Receipts – Non MILSTRIP) affects the 4802 BL
- Check invoices for matching
- Run FBL3N
- Run for open items
- Monitor GRs with missing IRs

2110.2902 (Service) affects 4801 BL
- Check for matching SES and invoices
- Locate difference between SES and invoice
- Run FBL3N
- Run for Open items

Question 18

FBL3N

Answer 18

G/L account line display
- Used to query General Ledger Accounts
- Most frequently used data fields
Open Items verses Cleared items

Question 19

Open items

Answer 19

Unfinished transactions. Ex. A vendor invoice that has not been settled, remain in the account as an open item until it is paid

Can only be cleared once you post an identical offsetting amount to the account. The balance of the items assigned to each other must equal zero. Invoice = goods receipt

Question 20

Open item management

Answer 20

Items in an account that must be used to clear other line items in the same account. Items must balance out to zero before they can be cleared. The account balance is therefore always equal to the sum of the open items.

Ex. Equaling GRs and Invoice

Question 21

Clearing document

Answer 21

A document created to clear open items in an account

Question 22

Clearng indicator

Answer 22

Indicates that payment is made and the transaction is closed. No further processing is possible until the document is reset.

Question 23

F.13

Answer 23

Automatic clearing

This transaction to clear open items from customer, vendor, and General ledger accounts

Uses predefined criteria to group together open items per account. If the balance of the group of open items equals zero and you have fulfilled the prerequisites for clearing, the Navy ERP system
- Marks item in GL accounts as cleared
- Marks items in vendor and customer accounts as paid (cleared)
- Generates the required clearing postings
- Enters a clearing document number and the clearing date for all cleared items
- Generates an output list of the results

Question 24

Automatic clearing

Answer 24

Particularly useful for automatically clearing goods receipt/invoice receipt (GR/IR) accounts, where the transaction volume is typically high

Automatic clearing is scheduled once a month and run by the PMO
- Can be run by Field Activities at anytime to clear open items

The selection screen and selection variable options allow users to enter the essential parameters for the program. These include the ability to enter single values, a range of values, or multiple values for company code, fiscal year, document number, vendor, customer

Question 25

F-03

Answer 25

Clear General Ledger Account

Used to manually clear GL accounts.

Used when you post an identical offsetting amount to an account. the balance of the items assigned must equal zero.

The system automatically creates clearing document, assigns the clearing date and marks the item as cleared.

Question 26

F-04

Answer 26

Post with clearing

Use this procedure to manually post a general ledger, vendor, or customer item with clearing

System auto performs this t-code
- Clearing invoices
- Clearing Travel Voucher
- System creates a clearing Document Number
- This transaction requires a JV package

Question 27

FBRA

Answer 27

Reset Cleared Items

Used to reset and reverse an open item managed account that has been cleared. Clearing closes the transaction so no further processing is possible without resetting the clearing indicator

Reset cleared items resets the clearing indicator, changing it to an open item status, so the clearing document can be reversed.

Question 28

Reset Cleared Items provides two clear options

Answer 28

Only Resetting: Resets the document only; it remains in the system as an open item to be cleared

Resetting and Reverse: Resets and reverses the document

Question 29

FD08

Answer 29

Single reversal of document

Reverse incorrect financial accounting documents. System generates a reversal document, reversing the debit and credit amounts from the original posting.

Question 30

F.80

Answer 30

Mass reversal of documents

If no entry is specified for the parameters Posting Date of Reversal Documents or Posting Period of Reversal Documents, the posting date or the posting period of the document to be reversed is used

Question 31

Data required before starting the reversal process

Answer 31

Document number to be reversed
Comapny code
Fiscal year which document is posted
A reason for reversal

Question 32

Can only reverse a document if…

Answer 32

Contains no cleared items
Contains only customer vendor, and GL account items
Reversal can only be posted in an open period

Question 33

Running the Trial Balance

Answer 33

S_KI4_38000325; S_KI4_38000323

Utilized to ensure postings and balances have been posted as expected

Allows users to view balances by fund and at the point account level.

cumulative of all debit and credit balances at the end of the accounting period

Shows if the GL is in balance and serves as a worksheet

Question 34

Closing Entries

Answer 34

Revenue and Expense account balances are transferred to the Fund Balance account at the end of the accounting period
- Year-end activity
- Revenue and Expense Accounts have a zero balance after closing
Process is referred to as closing
Post to Report Scenarios

Question 35

Closing Order

Answer 35

1. Obtain Revenue and Expense accounts balance from the pre-closing trial balance
2. Debit Revenue accounts to bring their balance to zero and Credit the Fund Balance Account by that amount.
3. Credit Expense accounts to bring their balance to zero and Debit the Fund Balance Account by that amount

Question 36

Federal Year-End Process three phases

Answer 36

Pre-closing – closing of certain accounts prior to submission of the final year-end balances to Treasury and OMB

Closing – closing the remaining budgetary and proprietary accounts.

Carry-Forward - Carry-Forward of general ledger account balances, FM documents and residual budget to the new year

Question 37

Pre-closing Entries

Answer 37

Close unfilled customer orders
Close Anticipated resources
Close Miscellaneous Receipts
Close Expired Authority

Question 38

Closing Entries

Answer 38

Close Commitment Documents
Close Remaining Balances
Close Budge Accounts
Manual Entries

Question 39

Carry-Forward

Answer 39

Budgetary Ledger Carry-Forward
FI Carry-Forward
SL Carry-Forward for BCS Reporting Ledgers