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SAP FH > Sap > Flashcards

Sap Flashcards

1
Q

Posting Key

A

two-digit numerical

determining the transaction type documented in the line item

helps determine the following:
Account types
Types of posting: debit or credit
Field status of a transaction

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2
Q

usage of SAP FICO?

A

storing and computing data

result according to the latest marketing scenario

prevents data loss and is responsible for the reporting and verification of data.

Its modules allow companies to manage financial tasks within an international framework of currencies and languages.

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3
Q

modules into which ‘Financial Accounting’ of SAP FICO is integrated?

A

Sales and Distribution
Production Planning
Material Management
Human Resource
Controlling financial transaction

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4
Q

most important organizational elements in SAP FI

A

Functional Area
Business Area
Company Code
Chart of Account

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5
Q

What is the best way to manage transactions from different business lines within a company?

,

A

create Business Areas. You can also create different company codes

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6
Q

options for fiscal years in SAP FICO?

A

twelve posting periods and four special periods.

must specify the fiscal year variant

Also, when creating a controlling area, you will have to specify the fiscal year variant.

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7
Q

Credit control

A

Credit control helps to reduce financial risk

Restricts customers for fresh payments without clearing earlier out standing receivable to Organization.

Used in
Account Receivable (AR)
Sales and Distribution

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8
Q

What is the function of the company code in SAP FICO?

A

The company code is responsible for generating financial statements like Profit and Loss Statements, Balance sheets, and others.

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9
Q

How many Chart of Accounts can a company code have

A

There can be only one Chart of Accounts for an assigned company code.

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10
Q

There can be only one Chart of Accounts for an assigned company code.

A

One local currency
Two parallel currencies

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11
Q

What is the role of the Chart of Accounts in SAP FICO?

A

Operating Chart of Accounts (COA): Day to day Activities

Country Chart of Accounts (COA): Countries legal requirements

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12
Q

What do you understand about the field status group and field status variant?

A

The field status groups contain the field status variants. The General Ledger account has field status groups. These status groups allow you to define the fields when posting to the general ledger.

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13
Q

State the types of modules into which FI is integrated.

A

Production Planning
Material Management
Human Resource
Sales and Distribution

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14
Q

How are output and input taxes managed in SAP FICO?

A

tax codes within tax procedures for every country.

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15
Q

Which application areas use validation and substitutions?

A

FI- Financial Accounting
CO- Cost accounting
GL- Special purpose ledger
AM- Asset accounting
PS- Project system
PC- Profit center accounting
CS- Consolidation
RE- Real estate

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16
Q

What is a year-dependent fiscal year variant?

A

When the number of days in a month does not correspond to the calendar month, it is a year-dependent fiscal year variant. For instance, when January ends on the 30th and February on the 27th.

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17
Q

What steps are involved in G/L posting?

A

Grouping relevant information from the payroll results.

Creating summarized documents.
Performing the necessary postings

to appropriate cost centers and G/L accounts.

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18
Q

What are the different methods for making vendor payments?

A

Manual Payment: Done without a medium such as cheques.
Automatic Payment: Done through DME (Data Medium Exchange) like wire transfer or cheque.

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19
Q

What is the use of FSV (Financial Statement Version) in SAP FICO?

A

reporting tool.
It helps extract final accounts from SAP like Balance Sheets and Profit and Loss Accounts.
Using multiple FSVs, you can generate the output of various external agencies like banks and other statutory authorities.

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20
Q

At what level the Customer and Vendor codes are stored in SAP?

A

client level.

A company code can use the vendor and customer code by extending the company code view.

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21
Q

What is the significance of financial statements within a business in SAP FICO

A

helps manage the company’s financial assets

It’s data helps for making buisness decision

22
Q

State the common G/L reports in SAP FI.

A

G/L Chart of Accounts List
G/L Account List
G/L Account Balances
G/L Account Totals and Balances

23
Q

What is the purpose of “Document type” in SAP FICO?

A

It helps define the documents’ number range.
It enables controlling the types of accounts posted, like Vendor, Assets, Customer, Normal GL account, and more.
It is used for entry reversals

24
Q

What is meant by company and company code in SAP FICO

A

A company is an organizational unit

25
Q

What are accounting period variants and posting period variants in SAP FICO?

A

Accounting period variants: They help manage the accounting periods open for validation and all closed periods to be deleted. They are suitable for opening and closing periods of the financial year for reservation purposes.
Posting period variants: A posting period in a fiscal year is a period for which the transactions figures are updated. The posting period variants are accountable for controlling which Accounting period is open for posting. It ensures balanced closed periods.

26
Q

What is the use of Account Receivables?

A

It shows amount receivable from Customers or Other business partners

27
Q

What are the perks of using Business areas in a company?

A

a company, business areas can be used when other company codes need the same areas. They are used more in Controlling than Finance Accounting. The benefits of using business areas are as follows:

It is easy to configure. You will have to attach it to the company code, and the other details will get attached by themselves.

Using Business areas in controlling, it gets easier to create Balance sheets, Profit and loss statements, and more.

28
Q

What problems might occur when we configure the business area?

A

The splitting of the account balance

29
Q

Explain the relationship between company code and the controlling area in SAP FICO.

A

controlling area in SAP can contain one or more company codes.

These company codes use the same operative Chart of Accounts as the controlling area.

A single company code can be assigned to a controlling area, while a controlling area can contain multiple company code assignments.

30
Q

What is FI-GL Accounting? Why is it used?

A

The FI-GL is the abbreviation for Financial-General Ledger.

It helps get an overview of external Accounting and accounts.

It holds all business transactions included with all other operational areas in a software system, ensuring that the accounting data is always accurate and complete.

31
Q

What is parallel and the local currency in SAP FICO

A

Local Currency: The currency entered in the company code creation.

Parallel Currencies: The other two additional currencies that can be used in foreign business transactions or international transactions.

GROUP CURRENCY and HARD CURRENCY are two examples of parallel currencies.

32
Q

What are the customizing prerequisites for document clearing

A

The customizing prerequisites include checking the cleared and uncleared items via open item management.

The open item management process helps manage the account payable and accounts receivable.

I.e., the outstanding accounts. For instance, an unpaid invoice item is taken as an open account until paid.

33
Q

What are the one-time vendors in SAP FICO?

A

For companies dealing with high cash transactions, it gets impractical to create new master records for every vendor trading partner. So, one-time vendors solve the problem as they allow a dummy vendor code to be used on invoice entry while the information is usually stored in the vendor master.

34
Q

What is the significance of the GR/IR clearing account in SAP FICO

A

/IR is the abbreviation for Good Received/ Invoice Received. A GR/IR clearing account is an interim account. The provision is made if the goods are received in the legacy system, but the invoice isn’t. It goes through the Accounting entry debiting the Inventory and crediting the GR/IR account.
Similarly, when an invoice is received, the vendor account gets credited, and the GR/IR account is debited. Thus, the GR/IR is an uncleared item till the invoice isn’t received

35
Q

What are the different accounting groups that can be created in Account Receivable in SAP FI

A

X001- Domestic Customers
X002- Export Customers
X003- One-Time Customers

36
Q

. Is it possible to calculate depreciation to the day? How can you do that?

A

Yes, it is possible.
The depreciation to the day function gets active for an asset as soon as it has a corresponding depreciation key and is capitalized (posted to).

Consequently, you can’t switch off this function for the asset, even when you change the depreciation key

37
Q

What are the internal orders in SAP FICO? Where can you use them

A

Internal orders are used for planning, collecting, and settling the costs of internal tasks and jobs.

They can also be used to track the cost. They are incurred over a short-term basis.

38
Q

What is the use of Account payable? How is it related to G/L?

A

Accounts payable is used for managing and recording the accounting data for all the vendors. It relates to G/L as follows:
All invoices are managed as per vendor requests.
Payables are managed as per the payment program. Payments can be via cheques or electronic transfers.
All the postings in Account payable are simultaneously updated in General Ledger.

39
Q

What ‘blocks’ can be applied to a vendor account in SAP FI?

A

Posting block for all company codes and certain company codes.
Purchasing block for all or certain purchasing organizations. It is only used when you have purchased/installed the purchasing application component.

40
Q

What is blocking a customer in SAP FI?
Blocking is when postings are no longer made to an account. You have to block a customer account before marking a customer master record for deletion.
For instance, you would block a customer that you use as an alternative dunning recipient. Thus, nobody can mistakenly post to that customer. The following blocks can be set for a customer in the Sales and Distribution (SD) application component:
Posting block
Delivery block
Order block
Invoicing block

A

Blocking is when postings are no longer made to an account. You have to block a customer account before marking a customer master record for deletion.

For instance, you would block a customer that you use as an alternative dunning recipient. Thus, nobody can mistakenly post to that customer. The following blocks can be set for a customer in the Sales and Distribution (SD) application component:

Posting block

Delivery block

Order block

Invoicing block

41
Q

What is the chart of depreciation in Asset Accounting?

A

The chart of depreciation is the highest node assigned to the company node. It stores all the depreciation calculations

42
Q

How can you manage the relationship between two currencies in SAP FI

A

Posting and Clearing
Exchange Rate Differences
Foreign Currency Valuation

43
Q

What is the field status group used to control?

A

The field status group is configured in FSV to maintain field status for General Ledger accounts.

44
Q

. How would you create a Credit Control Area in SAP FI?

A

You can use the transaction code OB45 or path to create a Credit Control Area. The steps to create a credit control area are as follows:

SPRO > enterprise structure > maintain structure > definition > financial accounting > maintain credit control area

Next, you will have to enter the following description:

Update

Name of the credit-control area in SAP

Currency

Description

Credit Limit

Risk Category

Fiscal Variant

Rep Group

45
Q

What are some most important tables in SAP FICO?

A

Enterprise structure SAP Tables

T001: SAP Company-Code

TCURC: SAP Currency-codes

T005: Countries in SAP

TCURT: Currency name in SAP

TCURR: Exch-rate in SAP

T009: Fiscal year variants in SAP

T077S: G/L Account-group

T880: Global-company-data in SAP

T004: SAP Chart of accounts (COA)

T014: Credit-control-area SAP

T012: House banks in SAP

T010O: SAP Posting-period-variant (PPV)

T001B: Permitted posting periods in SAP

T010P: Posting period variant names in SAP

T003: Document types in SAP

SAP FI G/L Tables

BNKA: Bank master record SAP

SKA1: Chart of accounts segment GL master data

BNKA: Bank master record in SAP

SKB1: Company code segment G/l master data

BKPF: SAP Accounting documents header

BKPF: Accounting documents header in SAP

Accounts Receivable Table

KNBK: Bank details

KNVH: Customer hierarchy

KNVK: Contact persons

KNVI: Customer master tax indicator

KNA1: Customer master-General data

KNB1: Customer master-Company code data

KNVV: Customer master-Sales data

KNVS: Shipment data for customer

KNVP: Customer partners

SAP FI Accounts payable tables

LFA1: Vendor master-General data

LFBK: Bank details

LFM1: Purchasing organization data

LFM2: Purchasing data

LFB5: Vendor dunning data

LFB1: Vendor master-Company code data

Assets Accounting Tables

ANEK: Document header asset posting

ANKB: Asset classes: Depreciation area

ANKA: Asset classes: General data

ANKT: Asset classes: Description

ANEP: Asset line items

ANLU: Asset master record user fields

ANLZ: Time-dependent asset allocation

SAP CO Tables

CSKS: Cost center master data

CRCO: Assignment of work center to cost center

CSKT: Cost center texts

COSP: Cost totals for external postings

COBK: Document header

COEP: Line items (by period)

COST: Price totals

Profit center Accounting tables

CEPC: Profit center master data table

GLPCA: Actual line items - Profit center

GLPCP: Plan line items - Profit center

GLPCO: Object table for the account - Profit center

GLPCC: Transaction attributes - Profit center

CEPCT: Texts for profit center master data

46
Q

What is the use of an account group?

A

Account group defines GL account and Vendor and Customer Master. It is used to control the data that has to be entered while creating a master record.

47
Q

How would you define the tolerances for invoice verification?

A

Tolerance in SAP specifies whether the payable places match or tax hold on the invoice. Following instances of tolerance can be defined for logistics invoice verification:

Small differences

Quantity variances

Moving average price variances

Price variances

48
Q

What is meant by the short-end fiscal year?

A

A short-end fiscal year is when you change from a normal fiscal year to a non-calendar fiscal year or vice versa.

It usually happens when an enterprise becomes part of a new co-corporate group.

49
Q

What are cost and profit centers in Controlling?

A

Cost Center: A component in an organization added to the cost and indirectly added to the organization’s profit, such as marketing and customer service. A business unit of a company can either be classified as a profit center or a cost center, or an investment center.

Profit Center: For managing internal control. Dividing a company into profit centers enables delegating responsibility to decentralized units. It also allows you to treat the units as separate companies within a company.

50
Q

Is the business area at the company code level?

A

No, the business area is not at the company code level. Rather is at the client level, which means that other company codes can be posted to the same business area.

These SAP FICO interview questions will definitely help you in cracking the job .

SAP FH (1 decks)

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