Question

Which of the following special G/L transactions are noted items?

Note: There are 2 correct answers to this question.

1) Guarantee of payment
2) Bill of exchange payment request
3) Down payment
4) Down payment request

Answer 1

The special G/L transactions considered noted items are 'Guarantee of payment' and 'Bill of exchange payment request', which record future obligations without immediate financial impact.

Step-by-step explanation:

In the context of special G/L transactions within financial and accounting systems such as SAP, the notional or noted items do not have an immediate impact on the financial position until the conditions underlying these transactions are met. Noted items are used as reminders or to guarantee that certain financial postings will occur in the future.

The special G/L transactions that are considered noted items from the provided options are:

• Guarantee of payment: This is considered a noted item because it records a future obligation without an immediate financial transaction.
• Bill of exchange payment request: It too is a noted item as it represents a promise to pay at a future date, which does not immediately affect the account balances.

On the other hand, down payment and down payment request usually involve actual transactions influencing the financial position directly through the movement of funds, and hence, they are not noted items.