05-14-2013, 11:22 PM
Ans. There are 3 balance types.
- Budgets - Encumbrance
2. What is the difference between Budget and Encumbrance Journals?
Budget: Budget balances are the funds are allocated to the various accounts. (Fund Allocated)
Encumbrance: Encumbrance balances are the funds reserved for the budgets for future expenses. (Fund Reserved)
3. What is the difference between Intra and Inter Company in GL?
a. Intra Company Journals: These journals are created between the transactions of one or more balancing segments of same Legal Entity.
b. Inter Company Journals: These Journals are created for the transactions between the balancing segments of one or more Legal Entities.
Example, Lets say
TATA Motors India (LE) having 2 BSV i.e. 01(Tata Motors Pune) and 02 (Tata Motors Gujarat)
TATA Steel India (LE) having 2 Bsv i.e. 03 and 04
Transaction between 01 and 02 is Intra Company
Transaction between 01 and 03 is Inter Company