GL Interview Questions

1. What is journal, how many types of journal?
 Journals it is used to record the business transaction it contains debit and credit lines always debit must be equal to credit.
         Types of journals are
              --> Suspense Journal or Unbalanced Journal
              --> Recurring Journals
              --> Reversal journals.

Types of Journals:

1. Functional Currency Journal: This Journal, we enter Local Currency transaction purpose.

2. Foreign Currency Journal: this Journal, we enter other than local currency transaction purpose...before we define exchange rates

3.Suspense Journal: this Journal, whenever debit is not equal to credit that time, we enable in set of books window Suspense button, then it works otherwise it's not working

4.Tax Journal: this Journal, calculate taxation of Purchased items

5.Reverse Journal: this Journal whenever we enter recurring journal, at the time of we using..We have two methods...one is Debit to Credit and second one is sign (+ to -)

6.Recurring Journal:this one is We define one template, we use Periodically, these are 3 types
1.Standard 2.Skeleton 3.Formula

7.Mass Allocation Journal:Set of Expenses or Set of Revenue allocate different parts using Formula A*B/C
A is Total Cost Pool..B is Usage Factor...C is Total Usage Factor...

8. Batch Journal: Group of Journal we enter at a time, We Define Control Amount

9. Stat Journal: This JV we have one side of Amount either debit or Credit.....

3. Interface tables in General Ledger ?

GL_BUDGET_INTERFACE
GL_DAILY_RATES_INTERFACE
GL_IEA_INTERFACE
GL_INTERFACE
GL_INTERFACE_CONTROL
GL_INTERFACE_HISTORY