{
"iq":[{"id":"1",
"q":"What is SAP FICO?",
"answer":"SAP FICO stands for FI ( Financial Accounting) and CO (controlling). In SAP FICO, SAP FI take cares about accounting, preparation of financial statements, tax computations etc, while SAP CO take cares of inter orders, cost sheet, inventory sheet, cost allocations etc. It is the software that stores data, and also computes them and retrieves the result based on the current marketing scenario. SAP FICO prevents data lost and also does the verification and reporting of data."
},
{"id":"2",
"q":"What is the difference between company and company code? ",
"answer":"A company is the organizational unit used in the legal consolidation module to roll up financial statements of several company codes.\n\nThe Company Code is the smallest organizational ! unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. "
},
{"id":"3",
"q":"What are the other modules to which ‘Financial Accounting’ is integrated?",
"answer":"The other modules to which ‘Financial Accounting’ is integrated are\n\nSales and Distribution\n\nMaterial Management\n\nHuman Resource\n\nProduction Planning\n\nControlling of financial transaction"
},
{"id":"4",
"q":"What is the company code in SAP?",
"answer":"To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used."
},
{"id":"5",
"q":"How many Chart of Accounts can company code have?",
"answer":"You can have one Chart of Account for one company code which is assigned."
},
{"id":"6",
"q":"What is a fiscal year variant?",
"answer":"Fiscal Year is a period of 12 months and SAP provides 4 special periods to posting adjustment Entries. Fiscal year determines posting periods. Posting periods are used to assign business transactions. Fiscal yearmay be year dependent or year independent. "
},
{"id":"7",
"q":"What are special periods used for?",
"answer":" The Special periods in a fiscal year variant can be used for things like posting audit or tax adjustments to a closed fiscal year."
},
{"id":"8",
"q":"What are shortened fiscal year? When are they used?",
"answer":"Shortened Fiscal Year: a financial year, which has less than 12 periods."
},
{"id":"9",
"q":"What is IBAN Number in SAP? What does it works?",
"answer":"IBAN stands for \"International bank account number\" while creating bank accounts in FICO we can use this . Most of the time IBAN is used for foreign currency payments time"
},
{"id":"10",
"q":"How can we block, a particular payment term for a particular vendor.",
"answer":"We have Two Mothods for Vendor Block in APP 1. Vendor Creation : Block under Automation Payment Transaction 2.APP Run : Edit Proposal Button in APP."
},
{"id":"11",
"q":"I have two companies one is parent company & another sister company. Both companies have same vendors & customers. Can I assign dunning procedure for both companies?",
"answer":"U have to assign a dunning procedure seperately for each customer and vendor in their respective master record in company code level.And then select company codes both parant and sister concern.then select cust and vend in parameter maintain"
},
{"id":"12",
"q":"IN SAP FI WHAT ARE THE ORGANIZATIONAL ELEMENTS?",
"answer":"The organizational elements in SAP FI are:\n\na) Company Code\n\nb) Business Area\n\nc) Chart of Account\n\nd) Functional Area"
},
{"id":"13",
"q":"WHAT IS THE COMPANY CODE IN SAP?",
"answer":"To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used."
},
{"id":"14",
"q":"HOW MANY CHART OF ACCOUNTS CAN COMPANY CODE HAVE?",
"answer":"You can have one Chart of Account for one company code which is assigned."
},
{"id":"15",
"q":"FOR A COMPANY CODE HOW MANY CURRENCIES CAN BE CONFIGURED?",
"answer":"There are three currencies that can be configured for a Company code, one is a local currency and two are the parallel currencies."
},
{"id":"16",
"q":"What is internal and external number ranges? ",
"answer":"Internal Number Ranges: Doc. No will be provided by the system automatically in serial order allotting the next available progressive number. The number must be in numerical.\n\nExternal Number ranges: Doc. No will be given manually by the end user. System will not lock no automatically in this case. User can pick the number randomly. Number may be an alpha numeric. "
},
{"id":"17",
"q":"What are field status groups?",
"answer":"Field status groups control the additional account assignments and other fields that can be posted at the line item level for a G/L account."
},
{"id":"18",
"q":"What are posting periods?",
"answer":"The Posting period variant controls which posting periods, both normal and special, are open for each company code. It is possible to have a different posting period variant for each company code in the organization. The posting period is independent of the fiscal yearvariant."
},
{"id":"19",
"q":"What are special periods used for?",
"answer":"The Special periods in a fiscal year variant can be used for things like posting audit or tax adjustments to a closed fiscal year."
},
{"id":"20",
"q":"Can one COA be assigned to several companies? ",
"answer":" yes. One COA can be assigned to several companies."
},
{"id":"21",
"q":"What are the alternative g/l accounts?",
"answer":"The account number from your legacy system or 2. Account number from a country chart of accounts if your corporate group uses a standard chart of accounts. "
},
{"id":"22",
"q":"What is the entry date, document date, posting date, value date, and next run date.",
"answer":"Entry Date - System Date on which document is entered Document Date - Date of the supporting document ie PO/ invoice/ Bill date Posting date - date on which entry is posted to the ledger or accounting date Value date - the date on which doc is valued. ie for forex valuation the value date is needed for calculating the exchange rate difference Next run date - this is for payment run. what the next day for calculating the payment due document and discount "
},
{"id":"23",
"q":"What is chart of account and how many charts of accounts can be assigned to a company?",
"answer":"Chart of account is a list of all G/L accounts used by one or several company codes.\n\nFor each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a Company code.\n\nYou have to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code.\n\nYou have the following options when using multiple company codes.\n\nYou can use the same chart of accounts for all company codes\n\nIf the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.\n\nIn addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.\n\nThe use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the co! mpany codes which use different charts of accounts together or separately."
},{"id":"24",
"q":"What does definition of a chart of account contains? ",
"answer":"chart of account key\n\nName\n\nMaintenance language\n\nLength of the GL Account Number\n\nControlling Integration\n\nGroup chart of accounts (Consolidation)\n\nBlock Indicator"
},{"id":"25",
"q":" How many Normal and Special periods will be there in fiscal year, why do u use special periods? ",
"answer":"12 Normal posting period and 4 special periods are in the fiscal year which can be used for posting tax and audit adjustments to a closed fiscal year."
},{"id":"26",
"q":"Where can you use the internal order?",
"answer":"To track the cost, internal orders are used; they are proposed to be incurred over on a short term basis."
},{"id":"27",
"q":"How capital WIP (Work In Process) and Assets accounted for in SAP?",
"answer":"'Capital WIP' is referred to as Assets under construction in SAP and is represented under specific asset class. Depreciation is not charged under 'Capital WIP' usually. The cost incurred on building a capital asset can be booked to an 'internal order' and through the settlement procedures, and can be posted onto an 'Asset Under Construction'."
},{"id":"28",
"q":" What is credit control area in SAP? ",
"answer":"To immune your company from the risk of bad debts and multiple outstanding receivable, you can set a credit limit for your customer by using credit control area in SAP. With the help of SAP, you can block the deliveries to your customer based on the credit limit and the accounts receivable balance in their account which is maintained by you."
},{"id":"29",
"q":"Explain the organizational assignment in the controlling module?",
"answer":"Company codes are assigned to the controlling area. A Controlling Area is assigned to the operating concern.\n\nControlling Area is the umbrella under which all controlling activities of Cost Center Accounting, Product costing, Profitability Analysis and Profit Center are stored.\n\nOperating Concern is the highest node in Profitability Analysis."
},{"id":"30",
"q":"What are FI substitution rules?",
"answer":"ADefined in configuration they are similar to the FI validation rules above. Substitution rules allow field values to be replaced when certain pre-requisites conditions are met.."
},{"id":"31",
"q":"What are exchange rate “factors” ?",
"answer":"Exchange Rate factors are the relationships between one currency and another to which an exchange rate is applied.\n\n- For example you may define the Indonesia Rupiah to US$ factor as 10000 : 1\n\nCombined with an exchange rate of 0.95 this would equate to 9500 IDR to 1 USD "
},{"id":"33",
"q":"What is “dunning” in SAP ?",
"answer":"Dunning is the process by which payment chasing letters are issued to customers. SAP can determine which customers should receive the letters and for which overdue items.\n\n- Different letters can be printed in SAP depending on how far overdue the payment is; from a simple reminder to a legal letter.\n\n- The dunning level on the customer master indicates which letter has been issued to the customer."
},{"id":"34",
"q":"In Accounts Receivable, what’s the difference between the ‘residual payment’ and ‘part payment’ methods of allocating cash?",
"answer":"These are the two methods for allocating partial payments from customers.\n\nAs an example, lets say invoice A123 exists for 100$ and a customer pays 60$\n\nWith partial payment, the 60$ simply offsets the invoice leaving a remaining balance of 40$\n\nWith residual payment, invoice A123 is cleared for the full value 100$ and a new invoice line item is booked for the remaining balance of 40$."
},{"id":"35",
"q":"Explain briefly how you can import electronic bank statements into SAP?",
"answer":"A text file is received from the bank which is then uploaded into the SAP system. The file contains details of the company’s bank movements e.g. cheques, bank interest, bank charges, cash receipts etc. Depending on the system configuration SAP will attempt to book these transactions automatically to the correct accounts to avoid the need for manual entries by SAP users.\n\n- Any postings which the system cannot derive automatically can be booked through “post-processing”"
},{"id":"36",
"q":"How can you link customer and vendor master records and what is the purpose of doing so ?",
"answer":"On the customer master there is a field “vendor” and likewise on the vendor master there is a field “customer”. By entering these master data numbers, a link can be created between the AP/AR subledgers for use in the payment program, dunning routine and the clearing of open items.\n\n- For example in the payment program, if a specific business partner is your vendor but also your customer, linking their master records together will allow the open AR invoices to be offset against the outstanding AP invoices."
},{"id":"37",
"q":"For what purposes internal orders can be used?",
"answer":"You can use internal orders for Overhead Orders: It monitors internal jobs settled to cost centres\n\nInvestment Orders: It monitors internal jobs settled to fixed assets\n\nAccrual Orders: Offsetting posting of accrued costs calculated in CO\n\nOrders with Revenue: It display the cost controlling parts of Sales and Distribution, it does not affect the core business of the company"
},{"id":"38",
"q":"What is a ‘Value Field’ in the CO-PA module?",
"answer":"Value fields are number or value related fields in profitability analysis such as quantity, sales revenue, discount value etc."
},
{"id":"39",
"q":"What is the purpose of the account type field in the GL (General Ledger) master record?",
"answer":"At the end of the year, profit and loss accounts are cleared down to the retained earnings balance sheets account. The field contains an indicator which is linked to a specific GL (General Ledger) accounts to use in this clear down."
},{"id":"40",
"q":"What are document types and what are they used for?",
"answer":"Document type is the identifier of differentt account transactions like SA for G/L,AA for Asset Accounting etc.The doc. Types controls things like type of the account that can be posted to, the number range assigned to it, and required doc header fields."
},{"id":"41",
"q":"What are adjustment postings and its use? Give t.codes and paths if possible?",
"answer":"fb50,f-02 and others could be used for adjustments. These adjustments are to correct any financial representation that has already been booked into the accounts."
},{"id":"42",
"q":"How do you control field status of GL master records and from where do you control! ?",
"answer":"Field status variant is maintained all FSGs."
},{"id":"43",
"q":"WHAT IS FREE SELECTION?·",
"answer":"SFree selection tab in F110 is to \"include\" or exclude the values in your payment proposal. When you press F4 or drop down list in this tab, you get\n\nDocument Vendor master record Customer master record Select the relevant field, then fill the field values. If you select \"Exclude values\", those values will be excluded, otherwise they will be included. You cannot select more than 3 fields."
},{"id":"44",
"q":"Bank Master Key is created at client level or Company code level? Illustrate with examples & your prior project experience?",
"answer":" Bank Keys can be created at country level in FI01 T-Code not at company code level. Here bank keys are different from House Banks."
},{"id":"45",
"q":"What does document header control?",
"answer":"document date posting date, company coder fisical year, document type."
},
{"id":"46",
"q":"What is the additional log in the AP payment program and how can it be used for troubleshooting?",
"answer":"The additional log is an important setting when performing a payment run. The amount of information stored in the log can be selected\n\nIf there are any errors with the payments run, due to either missing or incorrect master data settings, negative balances due to credit memo’s etc, the system will report these in the additional log.\n\n- Support position interviews often ask this Q as a way of determining if you know how to troubleshoot day-to-day Accounts Payable operations."
},{"id":"47",
"q":"What are terms of payments and where are they stored?",
"answer":"Payment terms are created in configuration and determine the payment due date for customer/vendor invoices.\n\nThey are stored on the customer/vendor master record and are pulled through onto the customer/vendor invoice postings.\n\nThe due date derived via the payment can be changed on each individual invoice if required"
},{"id":"48",
"q":"What is the purpose of payment methods and where are they stored?",
"answer":"Generally payment methods are one digit alphanumeric identifiers that indicate the type of payments made to vendors or received from customers.\n\nThere are many standard delivered SAP entries for each country.\n\nFor example for the UK, the following are pre-delivered:-\n\nThe payment methods are stored in the vendor/customer master record as well on vendor/customer line items.\n\n(The default from master record can be changed during manual postings)"
},{"id":"49",
"q":"What are the standard stages of the SAP payment run?",
"answer":"The following steps are the standard stages of the SAP payment run\n\na) Entering of parameters ( Vendor Accounts, Company Codes, Payment Methods)\n\nb) Proposal Scheduling – the system proposes the list of invoice paid\n\nc) Payment booking- the booking of the actual payments in the ledger\n\nd) Printing of payment forms ,example cheques"
},{"id":"50",
"q":" What is a 'Value Field' in the CO-PA module?",
"answer":"Value fields are number or value related fields in profitability analysis such as quantity, sales revenue, discount value etc."
}
]
}
"iq":[{"id":"1",
"q":"What is SAP FICO?",
"answer":"SAP FICO stands for FI ( Financial Accounting) and CO (controlling). In SAP FICO, SAP FI take cares about accounting, preparation of financial statements, tax computations etc, while SAP CO take cares of inter orders, cost sheet, inventory sheet, cost allocations etc. It is the software that stores data, and also computes them and retrieves the result based on the current marketing scenario. SAP FICO prevents data lost and also does the verification and reporting of data."
},
{"id":"2",
"q":"What is the difference between company and company code? ",
"answer":"A company is the organizational unit used in the legal consolidation module to roll up financial statements of several company codes.\n\nThe Company Code is the smallest organizational ! unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. "
},
{"id":"3",
"q":"What are the other modules to which ‘Financial Accounting’ is integrated?",
"answer":"The other modules to which ‘Financial Accounting’ is integrated are\n\nSales and Distribution\n\nMaterial Management\n\nHuman Resource\n\nProduction Planning\n\nControlling of financial transaction"
},
{"id":"4",
"q":"What is the company code in SAP?",
"answer":"To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used."
},
{"id":"5",
"q":"How many Chart of Accounts can company code have?",
"answer":"You can have one Chart of Account for one company code which is assigned."
},
{"id":"6",
"q":"What is a fiscal year variant?",
"answer":"Fiscal Year is a period of 12 months and SAP provides 4 special periods to posting adjustment Entries. Fiscal year determines posting periods. Posting periods are used to assign business transactions. Fiscal yearmay be year dependent or year independent. "
},
{"id":"7",
"q":"What are special periods used for?",
"answer":" The Special periods in a fiscal year variant can be used for things like posting audit or tax adjustments to a closed fiscal year."
},
{"id":"8",
"q":"What are shortened fiscal year? When are they used?",
"answer":"Shortened Fiscal Year: a financial year, which has less than 12 periods."
},
{"id":"9",
"q":"What is IBAN Number in SAP? What does it works?",
"answer":"IBAN stands for \"International bank account number\" while creating bank accounts in FICO we can use this . Most of the time IBAN is used for foreign currency payments time"
},
{"id":"10",
"q":"How can we block, a particular payment term for a particular vendor.",
"answer":"We have Two Mothods for Vendor Block in APP 1. Vendor Creation : Block under Automation Payment Transaction 2.APP Run : Edit Proposal Button in APP."
},
{"id":"11",
"q":"I have two companies one is parent company & another sister company. Both companies have same vendors & customers. Can I assign dunning procedure for both companies?",
"answer":"U have to assign a dunning procedure seperately for each customer and vendor in their respective master record in company code level.And then select company codes both parant and sister concern.then select cust and vend in parameter maintain"
},
{"id":"12",
"q":"IN SAP FI WHAT ARE THE ORGANIZATIONAL ELEMENTS?",
"answer":"The organizational elements in SAP FI are:\n\na) Company Code\n\nb) Business Area\n\nc) Chart of Account\n\nd) Functional Area"
},
{"id":"13",
"q":"WHAT IS THE COMPANY CODE IN SAP?",
"answer":"To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used."
},
{"id":"14",
"q":"HOW MANY CHART OF ACCOUNTS CAN COMPANY CODE HAVE?",
"answer":"You can have one Chart of Account for one company code which is assigned."
},
{"id":"15",
"q":"FOR A COMPANY CODE HOW MANY CURRENCIES CAN BE CONFIGURED?",
"answer":"There are three currencies that can be configured for a Company code, one is a local currency and two are the parallel currencies."
},
{"id":"16",
"q":"What is internal and external number ranges? ",
"answer":"Internal Number Ranges: Doc. No will be provided by the system automatically in serial order allotting the next available progressive number. The number must be in numerical.\n\nExternal Number ranges: Doc. No will be given manually by the end user. System will not lock no automatically in this case. User can pick the number randomly. Number may be an alpha numeric. "
},
{"id":"17",
"q":"What are field status groups?",
"answer":"Field status groups control the additional account assignments and other fields that can be posted at the line item level for a G/L account."
},
{"id":"18",
"q":"What are posting periods?",
"answer":"The Posting period variant controls which posting periods, both normal and special, are open for each company code. It is possible to have a different posting period variant for each company code in the organization. The posting period is independent of the fiscal yearvariant."
},
{"id":"19",
"q":"What are special periods used for?",
"answer":"The Special periods in a fiscal year variant can be used for things like posting audit or tax adjustments to a closed fiscal year."
},
{"id":"20",
"q":"Can one COA be assigned to several companies? ",
"answer":" yes. One COA can be assigned to several companies."
},
{"id":"21",
"q":"What are the alternative g/l accounts?",
"answer":"The account number from your legacy system or 2. Account number from a country chart of accounts if your corporate group uses a standard chart of accounts. "
},
{"id":"22",
"q":"What is the entry date, document date, posting date, value date, and next run date.",
"answer":"Entry Date - System Date on which document is entered Document Date - Date of the supporting document ie PO/ invoice/ Bill date Posting date - date on which entry is posted to the ledger or accounting date Value date - the date on which doc is valued. ie for forex valuation the value date is needed for calculating the exchange rate difference Next run date - this is for payment run. what the next day for calculating the payment due document and discount "
},
{"id":"23",
"q":"What is chart of account and how many charts of accounts can be assigned to a company?",
"answer":"Chart of account is a list of all G/L accounts used by one or several company codes.\n\nFor each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a Company code.\n\nYou have to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code.\n\nYou have the following options when using multiple company codes.\n\nYou can use the same chart of accounts for all company codes\n\nIf the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.\n\nIn addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.\n\nThe use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the co! mpany codes which use different charts of accounts together or separately."
},{"id":"24",
"q":"What does definition of a chart of account contains? ",
"answer":"chart of account key\n\nName\n\nMaintenance language\n\nLength of the GL Account Number\n\nControlling Integration\n\nGroup chart of accounts (Consolidation)\n\nBlock Indicator"
},{"id":"25",
"q":" How many Normal and Special periods will be there in fiscal year, why do u use special periods? ",
"answer":"12 Normal posting period and 4 special periods are in the fiscal year which can be used for posting tax and audit adjustments to a closed fiscal year."
},{"id":"26",
"q":"Where can you use the internal order?",
"answer":"To track the cost, internal orders are used; they are proposed to be incurred over on a short term basis."
},{"id":"27",
"q":"How capital WIP (Work In Process) and Assets accounted for in SAP?",
"answer":"'Capital WIP' is referred to as Assets under construction in SAP and is represented under specific asset class. Depreciation is not charged under 'Capital WIP' usually. The cost incurred on building a capital asset can be booked to an 'internal order' and through the settlement procedures, and can be posted onto an 'Asset Under Construction'."
},{"id":"28",
"q":" What is credit control area in SAP? ",
"answer":"To immune your company from the risk of bad debts and multiple outstanding receivable, you can set a credit limit for your customer by using credit control area in SAP. With the help of SAP, you can block the deliveries to your customer based on the credit limit and the accounts receivable balance in their account which is maintained by you."
},{"id":"29",
"q":"Explain the organizational assignment in the controlling module?",
"answer":"Company codes are assigned to the controlling area. A Controlling Area is assigned to the operating concern.\n\nControlling Area is the umbrella under which all controlling activities of Cost Center Accounting, Product costing, Profitability Analysis and Profit Center are stored.\n\nOperating Concern is the highest node in Profitability Analysis."
},{"id":"30",
"q":"What are FI substitution rules?",
"answer":"ADefined in configuration they are similar to the FI validation rules above. Substitution rules allow field values to be replaced when certain pre-requisites conditions are met.."
},{"id":"31",
"q":"What are exchange rate “factors” ?",
"answer":"Exchange Rate factors are the relationships between one currency and another to which an exchange rate is applied.\n\n- For example you may define the Indonesia Rupiah to US$ factor as 10000 : 1\n\nCombined with an exchange rate of 0.95 this would equate to 9500 IDR to 1 USD "
},{"id":"33",
"q":"What is “dunning” in SAP ?",
"answer":"Dunning is the process by which payment chasing letters are issued to customers. SAP can determine which customers should receive the letters and for which overdue items.\n\n- Different letters can be printed in SAP depending on how far overdue the payment is; from a simple reminder to a legal letter.\n\n- The dunning level on the customer master indicates which letter has been issued to the customer."
},{"id":"34",
"q":"In Accounts Receivable, what’s the difference between the ‘residual payment’ and ‘part payment’ methods of allocating cash?",
"answer":"These are the two methods for allocating partial payments from customers.\n\nAs an example, lets say invoice A123 exists for 100$ and a customer pays 60$\n\nWith partial payment, the 60$ simply offsets the invoice leaving a remaining balance of 40$\n\nWith residual payment, invoice A123 is cleared for the full value 100$ and a new invoice line item is booked for the remaining balance of 40$."
},{"id":"35",
"q":"Explain briefly how you can import electronic bank statements into SAP?",
"answer":"A text file is received from the bank which is then uploaded into the SAP system. The file contains details of the company’s bank movements e.g. cheques, bank interest, bank charges, cash receipts etc. Depending on the system configuration SAP will attempt to book these transactions automatically to the correct accounts to avoid the need for manual entries by SAP users.\n\n- Any postings which the system cannot derive automatically can be booked through “post-processing”"
},{"id":"36",
"q":"How can you link customer and vendor master records and what is the purpose of doing so ?",
"answer":"On the customer master there is a field “vendor” and likewise on the vendor master there is a field “customer”. By entering these master data numbers, a link can be created between the AP/AR subledgers for use in the payment program, dunning routine and the clearing of open items.\n\n- For example in the payment program, if a specific business partner is your vendor but also your customer, linking their master records together will allow the open AR invoices to be offset against the outstanding AP invoices."
},{"id":"37",
"q":"For what purposes internal orders can be used?",
"answer":"You can use internal orders for Overhead Orders: It monitors internal jobs settled to cost centres\n\nInvestment Orders: It monitors internal jobs settled to fixed assets\n\nAccrual Orders: Offsetting posting of accrued costs calculated in CO\n\nOrders with Revenue: It display the cost controlling parts of Sales and Distribution, it does not affect the core business of the company"
},{"id":"38",
"q":"What is a ‘Value Field’ in the CO-PA module?",
"answer":"Value fields are number or value related fields in profitability analysis such as quantity, sales revenue, discount value etc."
},
{"id":"39",
"q":"What is the purpose of the account type field in the GL (General Ledger) master record?",
"answer":"At the end of the year, profit and loss accounts are cleared down to the retained earnings balance sheets account. The field contains an indicator which is linked to a specific GL (General Ledger) accounts to use in this clear down."
},{"id":"40",
"q":"What are document types and what are they used for?",
"answer":"Document type is the identifier of differentt account transactions like SA for G/L,AA for Asset Accounting etc.The doc. Types controls things like type of the account that can be posted to, the number range assigned to it, and required doc header fields."
},{"id":"41",
"q":"What are adjustment postings and its use? Give t.codes and paths if possible?",
"answer":"fb50,f-02 and others could be used for adjustments. These adjustments are to correct any financial representation that has already been booked into the accounts."
},{"id":"42",
"q":"How do you control field status of GL master records and from where do you control! ?",
"answer":"Field status variant is maintained all FSGs."
},{"id":"43",
"q":"WHAT IS FREE SELECTION?·",
"answer":"SFree selection tab in F110 is to \"include\" or exclude the values in your payment proposal. When you press F4 or drop down list in this tab, you get\n\nDocument Vendor master record Customer master record Select the relevant field, then fill the field values. If you select \"Exclude values\", those values will be excluded, otherwise they will be included. You cannot select more than 3 fields."
},{"id":"44",
"q":"Bank Master Key is created at client level or Company code level? Illustrate with examples & your prior project experience?",
"answer":" Bank Keys can be created at country level in FI01 T-Code not at company code level. Here bank keys are different from House Banks."
},{"id":"45",
"q":"What does document header control?",
"answer":"document date posting date, company coder fisical year, document type."
},
{"id":"46",
"q":"What is the additional log in the AP payment program and how can it be used for troubleshooting?",
"answer":"The additional log is an important setting when performing a payment run. The amount of information stored in the log can be selected\n\nIf there are any errors with the payments run, due to either missing or incorrect master data settings, negative balances due to credit memo’s etc, the system will report these in the additional log.\n\n- Support position interviews often ask this Q as a way of determining if you know how to troubleshoot day-to-day Accounts Payable operations."
},{"id":"47",
"q":"What are terms of payments and where are they stored?",
"answer":"Payment terms are created in configuration and determine the payment due date for customer/vendor invoices.\n\nThey are stored on the customer/vendor master record and are pulled through onto the customer/vendor invoice postings.\n\nThe due date derived via the payment can be changed on each individual invoice if required"
},{"id":"48",
"q":"What is the purpose of payment methods and where are they stored?",
"answer":"Generally payment methods are one digit alphanumeric identifiers that indicate the type of payments made to vendors or received from customers.\n\nThere are many standard delivered SAP entries for each country.\n\nFor example for the UK, the following are pre-delivered:-\n\nThe payment methods are stored in the vendor/customer master record as well on vendor/customer line items.\n\n(The default from master record can be changed during manual postings)"
},{"id":"49",
"q":"What are the standard stages of the SAP payment run?",
"answer":"The following steps are the standard stages of the SAP payment run\n\na) Entering of parameters ( Vendor Accounts, Company Codes, Payment Methods)\n\nb) Proposal Scheduling – the system proposes the list of invoice paid\n\nc) Payment booking- the booking of the actual payments in the ledger\n\nd) Printing of payment forms ,example cheques"
},{"id":"50",
"q":" What is a 'Value Field' in the CO-PA module?",
"answer":"Value fields are number or value related fields in profitability analysis such as quantity, sales revenue, discount value etc."
}
]
}