Answer sheet for TEST 2 Topics: Recurring Journals, Revaluation, Mass Allocation, Tax journals

1.Why my cross validation rules not working?

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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. riefly explain the steps for !ass "llocation. Allocation of account balance to the range of segment values for specific period. Steps for mass allocation. Define parent Segment and assign child ranges. !"# Setup$%inancial$%lex fields$&alidation 'nter stat (ournals. Define mass allocation %ormula. !"# )ournal$Define$Allocation &alidate the formula. *enerate +ass Allocation. ,ost the entry. #$.%ifference &etween 'ranslation ( )evaluation 'ranslation Translation is done from functional currency to -eporting currency. In translation ,eriod end rate . Average rates are used. Translation is /ptional. Difference in Translation will be transferred to 0Translation ad(ustment account1. Translation should satisfy the conditions4 namely4 5. ,rior . following period should be opened6 7. It cannot perform for the first period )evaluation -evaluation is done to know the actual balance on specific date with respect the prevailing foreign exchange rate of a particular account. In -evaluation /nly ,eriod end rate is used. -evaluation is mandatory. Difference in -evaluation will be transferred to 02nreali3ed *ain$loss account1. !o 8ondition is required for revaluation.

*.+ow do , ena&le -ross .alidation? 8heck the 8ross validate Segments and 8heck the %ree3e flexfield defination and compile in 9ey %lexfield segments. /.-an you define cross validation rules for a set of &ooks? !o4 8ross validation rules are specific to chart of account. 0.-an you run revaluation again in a previous period? :es4 we can run revaluation again in a previous period. ;ut the revaluation will effect the transaction4 which are entered after the %irst revaluation. 1. 2n what &asis auto post criteria set will &e created. /n the basis of ,riority4 Source4 8ategory4 ;alance type . ,eriod the auto post criteria set will be created. 3. riefely explain the purpose of )evaluation. -evaluation is done to know the actual balance on specific date with respect the prevailing foreign exchange rate of a particular account. 14. ,s it possi&le to do 'ranslation for more than one segment at a time? :es. In translation you having the option 0All1 under balancing segment TA; by selecting it we can do the translation for more than one segment. 11. -an you generate )ecurring 5ournal more than once in one period? :es4 recurring (ournal means )ournal4 which are repetitive in nature. In a particular period a (ournal may be expected for more than once .So we can generate -ecurring )ournal more than once in one period. 12.What are the steps for revaluation? Steps for -evaluation# Define the daily rate using the conversion rate and type. Define the period end rate. Define unreali3ed gain $loss account ,erform -evaluation for the particular account. 13. -an you allocate part of your cost pool account &y using !ass "llocation? ,f yes6 how will you define formula? :es4 by entering desired amount in the amount column of cost pool A$c. or by entering base number in the amount column of sum of usage factor. 1$ What are the availa&le segment types in mass allocation? Three segment types are available in mass allocation.

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1*.7xplain the concept of recurring 5ournals. -ecurring (ournals means (ournals4 which are repetitive nature in a year. /n the basis of amount recurring (ournals are three types. Skeleton (ournal Standard (ournal %ormula (ournal Skeleton (ournal means (ournals have same account but have different posting amounts. Standard (ournals means (ournal entries use the same accounts and amounts in each period. %ormula (ournal means (ournal entries use formulas to create (ournal amounts that vary from period to period. 1/.%o you think 'ranslation and )evaluation are mutually exclusive? :es4 The translation and revaluation independent with each other4 there is no relation between translation and -evaluation. =e can have both in a single set of book. 10.-an , use stat 5ournal of previous period for mass allocation. :es4 you can use stat (ournal of previous period by 2sing amount type as ,TD and period type as previous period in mass allocation or by using amount type as :TD and period type is current period you can use the stat (ournal for the entire year. 11.What is the difference &etween full and incremental allocation. 8ull "llocation %ull allocation method to generate (ournals that reverse previous allocations or to post new allocation amounts. -ecommend that you use this method only if you are allocating amounts for the first time4 or only once. ,ncremental "llocation

Incremental allocation method when you want to update allocated balances without reversing the previous allocation batches.
-ecommend that you do not use the incremental method the first time you generate a +isallocation entry.

13.,s there any difference &etween definition of period rates and historical rates? 9eriod rate The daily exchange rate on the last day of an accounting period In translation period end rate is used to translate the assets and liability account balances. +istorical rate A weighted>average rate for transactions that occur at different times ?istorical rates to translate owner@s equity accounts