Question

Identify some of the checks for archiving G/L accounts (master data).There are 3 correct answers to this question.

1) Has a deletion indicator been set?
2) Are there (still) transaction figures (for example, have they already been archived)?
3) Are there (still) documents?
4) Is the fiscal year closed?

Answer 1

In the context of archiving G/L accounts, it is important to check if a deletion indicator has been set, confirm there are no remaining transaction figures, and ensure that there are no remaining documents associated with the account. Closing the fiscal year is also important but relates to the overall financial processes.

Step-by-step explanation:

When archiving G/L accounts (General Ledger accounts) in a financial system, there are certain checks that should be performed to ensure that the master data is ready for archiving. The following items offer a guideline for what needs to be considered:

• Has a deletion indicator been set? This check is to confirm if the account has been flagged for deletion, which is usually a prerequisite for archiving the account.
• Are there (still) transaction figures? Before an account can be archived, one must ensure that all transactions related to the account have been processed or archived themselves.
• Are there (still) documents? Any remaining documents linked to the G/L account should either be archived or properly managed before the account is archived.

It's also important to verify whether the fiscal year has been closed; however, this is not solely a check for archiving G/L accounts but rather a part of broader financial closing processes.