Correcting Mistakes Posting and Clearing

If the debits do not equal the credits or you have made a mistake entering a line item or processing open items, you can correct the mistake.

The following functions are available for correcting mistakes:

• Change, delete or enter line items
• Select additional open items
• Edit selected open items

You can reach the document overview screen from any screen during the clearing process.

From the screen for processing open items, you can make the following corrections by selecting the following menu sequences:

Functions in the Document Overview

To	Choose
Correct an entered line item	Goto ® Document overview
Add a new line item	Goto ® Document overview
Delete an entered line item	Goto ® Document overview
Select more open items	Edit ® Choose more

Posting Partial Payments Posting and Clearing

A partial payment is a payment that is posted to an account without any open items being cleared. You allocate this partial payment to an open item. When posting, the system marks the number of the original open item in the line item for the partial payment. The original open item and the partial payment remain open.

To enter a partial payment, proceed as follows:

1. From the menu bar of the screen for processing open items, choose Goto
2. ® Partial pmnt screen. In the Payment amount column, enter the partial payment amount. You can make a partial payment for several one open items. You can assign a reason code to each partial payment. Depending on the reason code you specify, you can send payment notices to your customers.
3. To go back to the standard screen for processing open items, choose Goto
® Standard screen.

The system stores in the partial payment the document number, fiscal year and number of the line item from the invoice. You can find this information in the Payment for field. Thus you can refer to the original open item from the partial payment. When you post the remaining amount for the invoice, both the partial payment and the invoice are cleared.

You can enter partial payments using the mouse. This has the advantage that, if the remaining amount has to be allocated to a single item, you can enter it automatically in the partial payment screen. To do so, place the cursor in the Payment amount field for the appropriate line item, and select this item by double-clicking on it. The system then takes account of the remaining amount for this item.

Posting Residual Items Posting and Clearing

A residual item results when a payment is made for less than the actual amount outstanding. You clear the original open item, and the system posts a new open item. This new open item is for the same amount as the original open item minus the amount paid.

To enter a residual item, proceed as follows:

1. Choose Goto
® Residual item screen from the menu bar of the screen for processing open items.
2. In the Residual items column, enter the amount of the residual item.

You can assign one or more reason codes and reference information about the business partner to the residual items. For each reason code, you can determine whether a new item is to be posted to the business partner account (outstanding receivable) or if the difference is to be charged off. Depending on the reason code you specify, you may be able to send the relevant payment information to your vendor or customer.

3. To go back to the standard screen for processing open items, choose Goto
® Standard screen.

When you post the document, the system enters the document number, fiscal year and item number of the original open item into the Residual for field in the residual item.

For the residual item, the system either uses the terms of payment from the original invoice item or enters the predefined terms of payment. Which payment terms are used depends on the settings made for the tolerance group in the vendor master data.

(I)You can enter residual items and process them using the mouse. This has the advantage that, if the remaining amount has to be allocated to a single item, you can do this automatically in the partial payment screen. To do so, place the cursor in the Residual items field for the appropriate line item, and select this item by double-clicking on it. The system then takes account of the remaining amount for this item.

(II)In the editing options, you can set whether to enter the payment amount or the remaining amount in residual items.

Displaying the Open Items Posting and Clearing

From the screen for processing open items, you can display an entire open item as follows:

Place the cursor on the open item, but not on the amount or cash discount fields.

Double-click on the open item or choose Environment

® Display item from the menu bar.

To go to the next open item in the list of displayed open items, choose Goto

® Additional functions ® Next item in list.

To go to the next open item in the document, choose Goto

® Next item.

To go back to the list of open items to process, select the function Back

Explaining Differences Posting and Clearing

To clear open items, the system requires either:

• that the sum of the line items you enter equals the sum of the activated open items (the debits equal the credits)

or

• that the difference between the debits and credits is within the tolerance limit set in your system configuration.

From the screen for processing open items, you can display an explanation of the difference between the sum of the line items you entered and the sum of the open items you activated.

To do this, choose Environment ® Explain difference.

The Explain Difference dialog box appears.

It informs you about the difference between the payment amount (the clearing item) and the amount of the processed open items (amount to be cleared). Choose Cancel to go back to the list of open items.

Processing Open Items as per Payment Advice Note Posting and Clearing

In order to process open items according to an existing payment advice note, enter a payment advice note number on the screen for selecting open items. Only those open items which are listed in the payment advice note will be displayed for processing. Additional selection criteria are then ignored. You are not required to enter the account number, but it normally does improve the system processing time. The entire account number need not be entered, it suffices when you enter an asterisk *.

If you enter:

*041 the system will search for all payment advice notes ending with the numbers 041.

*ABC* the system will search for all payment advice notes containing the character string "ABC".

MT* the system searches for all payment advice notes beginning with the character string "MT".

For every payment advice note item, those items which fulfill the selection criteria are selected. If a document number is entered in the payment advice note, it has priority over other selection criteria. The number of items selected through this procedure is increased by all the items belonging to the selected invoice with an invoice reference (invoice-related credit memos, partial payments).

If through this procedure several payment advice note items are found, the gross total of all the assigned items will be compared with the gross amount of payment advice note items. If necessary, a combination of the assigned items whose gross total is close to the gross amount of the payment advice note item, is displayed. If a difference remains between the payment advice note and the total of assigned open items, residual items are automatically calculated. If advise note sub-items which explain the difference are present, their amounts will be transferred along with the entered reason codes and the reference information. If afterwards yet another difference exists, it will be removed from the payment advice note via the reason code.

If no payment advice note items exist to explain the difference and reason code is not cited, the system automatically divides up the total difference. Up to three residual items may result from this process. One for each:

• Difference between the gross amounts

• Difference between the cash discount amounts

• Other differences

Other differences appear when in the payment advice note the net amount does not result from the difference between the gross amount -the cash discount amount.

The difference postings, resulting from the different gross amounts or the different cash discount amounts, can be displayed via a separate reason code. You can define reason codes in customizing.

The difference postings are generated as a residual posting for the open item with the greatest amount assigned to the payment advice note.

If several difference postings in a payment advice note have the same reason code, they are added together.

If open items cannot be assigned to a payment advice note item, the system will automatically assign a posting on account for this item. The selection criteria from the payment advice note is in the item text. This makes it easier to allocate the payments in the future. The total amount of these payment on account postings is displayed in the Pyt on act fr.pyt adv. field. If you don’t want these postings to be generated, for example, because the difference must be allocated manually or posted as a total, you can prevent the system from making these postings via the menu path Edit ® Pyt on act fr.pyt adv ® Inactive. To reverse this, choose Edit ® Pyt on act fr.pyt adv ® Active. Alternatively, instead of using the menu paths, you can double click the Pyt on act fr.pyt adv field.

When you post a clearing procedure, the related payment advice is automatically deleted if there is at least one active open item to which an advice item is allocated.

Noting Open Items as Payment Advice Notes Posting and Clearing

When editing open items, you can have the system note the items you have selected along with their current processing status in the form of a payment advice. To do this, choose Edit ® Create pyt adv.. A dialog box appears in which you can enter the key for the payment advice note you require. Alternatively, you can have the system allocate a number internally.

If you have already used an advice note when selecting open items, the following rules apply:

• If the old advice note was created while you were processing open items, when you note the new advice note, the old one is deleted.

• If the old advice note was created in a different function, you cannot create a new note within the open items processing function, as this could cause the old advice note to be deleted. This could mean that detailed information required to process the open items is lost, such as information on those advice items to which no open items have been allocated.

Clearing Between Company Codes Posting and Clearing

In a single clearing procedure, you clear open items across several company codes. The system must, however, be specially configured for this. For each clearing transaction (payment, credit or transfer posting), the system administrator specifies the company codes to which postings must be made (in addition to the company code you have entered).

The open items of all the company codes involved are then automatically selected and when the clearing is posted, several documents (one per company code) with a cross-company code transaction number are simultaneously generated.

Clearing Open Items in Foreign Currency Posting and Clearing

You can clear open items in any currency you want.

The amount of all the selected open items will automatically be translated to the currency in which the clearing is to take place. The translation is executed as follows:

Item currency ® Local currency ® Clearing currency.

You are therefore not required to make additional entries in the translation table for cross-currency clearings.

When clearing, you can only display the open items in either the clearing currency or the local currency. The originally posted amounts for items which were posted in a third currency do not appear in the overview.

You no longer need to make a posting to an interim account (currency exchange account) for payments in a foreign currency which do not correspond to the paid items.

Clearing in a Third Currency

The company code local currency is DEM. An invoice was created on 4/1/94 for 1000 SFR, and on 4/15/94 a payment for 685 USD was entered. If the invoice were created in USD, the amount due would be $687.14. A difference of DEM 8.65 remains in the local currency. This difference is divided up into unauthorized deductions in the amounts of DEM 3.66 and due to the loss in SFR exchange rate fluctuation DEM 4.99.

If you want to clear cross-currency open items, it may be worth your while to view the item currency keys in the overview. In order to do so, you need to define a corresponding display variant in which the field Currency is supported by the internal field name WAERS. In the Accounting IMG, select the step Define processing formats and then Posting ® Clearing procedures ® Line layout to do this. You can either change or add to the existing variants or define completely new variants. For information about system configuration,

Clearing Mixed Currency Open Items in Local Currency Posting and Clearing

If you have G/L accounts which record items in foreign and local currency and you want to clear these items using the local currency, you can choose from two different processing methods:

• 
  
System Translates All Amounts to Local Currency During Clearing (Standard)
• 
  
System Uses Historical Amounts in Local Currency During Clearing (can be set for G/L accounts with open item management)

System Translates All Amounts to Local Currency During Clearing in SAP FICO Posting and Clearing in SAP FICO Posting and Clearing

This option is preset in the standard system. When you clear open items, all amounts in a foreign currency will be translated to the local currency using the current exchange rate. This guarantees that a proper breakdown is made between exchange rate differences and payment differences when payment is made in a currency (for example, the local currency) other than the one in which the invoice was originally received.

Some of the open items in your vendor’s account are kept in local currency, while others are kept in different foreign currencies. You clear all open items using the local currency.

On 01/01/95, you posted an invoice for 1000 DEM, which at that time translated to 580 USD. On 01/23/95, the exchange rate increases from .58 to .63 USD per DEM, and you make a payment to your vendor for 620 USD to clear the invoice.

Transaction	Foreign currency	Exchange rate	Local currency	Amount to be cleared
01/01/95: Invoice	1000 DEM	.58	580 USD
01/23/95: Payment		.63	620 USD	630 USD

If the open item is cleared using the local currency, the system uses the current exchange rate to translate the foreign currency amount to local currency. It valuates the original invoice for 1000 DEM using the current exchange rate of .63 USD per DEM. The invoice amount for clearing now equals 630 DEM. Payment was made for 620 USD, which means the system would post an unauthorized deduction of 10 USD and an exchange rate loss of 50 USD.

The open item in this example was translated into local currency using the current exchange rate instead of the historical rate. If the historical rate had been used, you would have overpaid by 40 USD, and an exchange rate loss would not have been realized.

System Uses Historical Amounts in Local Currency During Clearing Posting and Clearing

If you select the Only balances in local crcy indicator in a G/L master record, the system uses the historical amount in local currency when you clear open items. This means that all amounts - even if they are posted in foreign currency - are recorded as if they were posted in local currency. When clearing open items, the system processes all amounts as if they were posted in local currency. Accounting for foreign currency open items in this way lets you set up special clearing accounts in the G/L accounts area. For example, clearing accounts for goods receipts and invoice receipts can be set up so that items are only posted manually to these accounts and the goods receipts are always posted in local currency. If their amounts always correspond in local currency, you will be able to clear the goods receipts and invoice receipts without having to make any adjusting entries.

You have accounts with open items in local currency as well as different foreign currencies. You clear all open items using the local currency.

On 01/01/1995, you posted an incoming invoice in both German marks and US dollars, 1000 DEM and 580 USD respectively. On 01/23/1995, the exchange rate increases from .58 to .63 USD per DEM. You post the goods receipt, however, in US dollars for 580 USD. When you match and clear these items, the system does not retranslate the amount for 1000 DEM, but uses the historical amount of 580 USD.

Transaction	Foreign currency	Rate	Local Currency	Clearing amnt
01/01/95: Invoice	1000 DEM	.58	580 USD	580 USD
01/23/95: Goods receipt		.63		580 USD

You can clear the items without having to make any further adjustment postings.

If the Only balances in local crcy indicator is suppressed from the screens for G/L account master data maintenance, you will have to set it in Customizing so that the system displays it. To do this, execute the activity Define screen layout per activity (G/L accounts) in Customizing for General Ledger Accounting. On the next screen, select the desired activity (display, create, change), and choose Edit field status. Then choose the Account control group and set the Only balances in local crcy indicator as an optional entry.

Clearing Open Items with a Future Posting Date Posting and Clearing

When performing manual clearing procedures for incoming or outgoing payments, you can even clear items that have a posting date which is ahead of the clearing date.

On 3/26/95, you enter an invoice with the posting date 4/1/95. On 3/29/95, you clear this invoice by posting an incoming payment.

To clear an open item whose posting date is in the future, proceed as follows:

1. Choose Goto
® Open items on the Post with Clearing screen.
2. Select those open items with a posting date in the future that you want to clear.

The open item is inactive for the time being. You can activate it.

The clearing date entered in all items involved in the clearing procedure may not be the same as the posting date of the clearing procedure. If the posting date of one of the open items you want to clear comes after the posting date of the clearing procedure, the system will enter it in all the open items cleared. If there are several posting dates ahead of the posting date of the clearing procedure, the system will use the latest posting date as the clearing date.

Posting and Clearing

The illustration of The Clearing Process shows the normal clearing process for Posting with Clearing. The individual data entry screens are depicted as well.

The process of clearing open items includes:

• 
  
Entering the Document Header
• Selecting a clearing transaction
• 
  
Entering line items (optional)
• 
  
Choosing open items
• 
  
Processing open items
• Posting the clearing document

The system generates a clearing document that consists of:

• A document header
• Line items you entered
• Line items the system generated for clearing the selected and activated items
• Other line items generated automatically for cash discounts, tax adjustments, or gains/losses from exchange rate differences

The system sets the clearing date and clearing document number for the open items to be cleared as well as for the line items it creates to clear the open items.

After you enter data in the document header and select a clearing transaction, you can carry out these steps in any order. You can alternate between these screens.

See also:

Clearing Between Company Codes

Clearing Open Items in Foreign Currencies

Clearing Mixed Currency Open Items in the Local Currency

Clearing Open Items with a Future Posting Date

The Clearing Process

This illustration shows the various screens that are displayed when posting and clearing items.

Entering the Document Header

Proceed as follows:

1. Choose Document entry
® Internal transfer posting ® With clearing from the Accounts Payable or Account Receivable menu.
To clear items in G/L accounts, choose Document entry ® Post with clearing from the General Ledger menu.

The screen to enter the document header data appears. You are required to at least enter the document date, company code, and currency for the document header.

2. Select one of the following clearing transactions:

- Incoming payment

- Outgoing payment

- Credit memo

- Transfer posting with clearing

3. Select the Choose open items button.

Entering Line Items

You can enter one or more line items. Once you have entered the posting key and account at the bottom of the screen, you can proceed to enter the line items as you normally would.

Choosing the Open Items

The purpose of this step is to specify which open items the system selects for clearing. Usually, you display the chosen line items, process them, and then clear them. However, you may also choose the open items and clear them without displaying them first.

After you choose Edit ® Choose open items, the screen for choosing the open items you want to process appears.

On this screen, you can select the following options:

• Account and Account type

This entry is required if you are not selecting a specific document. If you want to post payments for open items from several accounts, you can also specify a work list in the Account field.

To use work lists, choose Environment ® User parameters ® Editing options from the Accounts Payable or Accounts Receivable menu. You can create a work list yourself by selecting, from the same menu, Environment ® Current options ® Maintain work lists. If you want to be able to manually process payments for several company codes, you have to set up this function in the Implementation Guide for Accounts Receivable and Accounts Payable.

• Normal OI (standard open items)

Standard open items are all open items not posted with special G/L indicators. You must select standard open items and/or open items from specific special G/L transactions to clear.

• Special G/L ind.
(special G/L indicator)

A special G/L indicator designates items posted to special G/L accounts. If you have open items posted to special G/L accounts and wish to display these open items, enter the appropriate special G/L indicators.

• Payment advice note number

You can enter the number of the payment advice note here. Only those open items which are supported by that particular advise note can be processed. Additional selection criteria are ignored.

The system automatically carries forward residual items and assigns a payment on the account when differences exist between the payment advice note and the open items.

If you enter the payment advice note, it is not necessary to enter the account number of the customer or vendor. The account number is automatically transferred from the payment advice note. If, however, you administer a lot of payment advice notes in the system, you may want to enter the account number to speed up the system processing time.

• Other accounts

To clear line items of more than one account, click in the box next to this field and then enter the accounts on the next screen.

• Distribute by age

The system distributes the specified clearing amount among the open items with the greatest number of days in arrears so that they are cleared first.

For more information, see:

Distributing the Clearing Amount by Age

• Automatic search

The system attempts to find open items which correspond to the specified clearing amount or are closest to it.

• Additional selection

You can even choose specific types of open items to clear. For example, you can choose open items by document number or open items within a range of amounts.

After choosing the open items to clear, you can either display and process them or choose specific open items. For details about choosing specific open items to clear, read the next topic. To process the open items, choose Goto ® Open items from the menu bar.

Displaying Net Amounts

If you want to display net amounts in the open item list, you need to set this option prior to displaying the list. To do this, choose Settings ® Editing options and then Goto ® Open items, and set the Display net amounts indicator.

Choosing Specific Items to Clear

Clearing Between a Customer and Vendor

Certification Questions

Clearing

Clearing Functions

Clearing Open Items

Choosing Specific Items for Clearing

After you enter an account with open items, you can search for specific open items to clear.

From the screen for selecting open items, you can search for specific open items to clear using the following additional selection fields:

• Gross amount
• Document number
• Posting date
• Other fields depending on the system configuration

To search for open items using the additional selections:

1. Select one of these fields, such as Posting date, by clicking on it. Choose
ENTER.

The screen for entering the posting dates appears.

2. Enter one or more single values or ranges within the selection, such as 01/01/1993 through 01/31/1993 for a range of posting dates.
3. To search for specific open items by other criteria (optional), choose Edit
® Select more.
4. Repeat steps 1 and 2 for the other selection criteria.
5. After you enter your selection criteria, you can:

- Display the list of open items by choosing Goto ® Open items.

- Display the clearing document header and the items entered so far by choosing Goto ® Doc. Overview

- Post the clearing document by choosing Document ® Post

Clearing Between a Customer and Vendor

If you select a vendor who is also a customer when processing a clearing transaction such as an incoming/outgoing payment or account maintenance, the system will also select the open customer items automatically, provided that:

• The vendor number was entered in the customer master record and
• The Clearing with customer indicator has been set.

The same rule applies if a vendor number which also refers to a customer is selected during a clearing transaction.

Also keep in mind that when processing clearings, authorization checks for both the vendor and customer accounts will be made by the system.

FI/CO Interview Questions

What is APC?

APC stands for Acquisition and Production costs. Acquisition means any asset which you may acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octroi, freight which you add and arrive at total cost of acquisition for capitalisation of the asset.For ex Say a computer. The total cost which you incurr for the acquisition of the computer including installation will be your APC

Production cost means any asset which is created internally within the organisation. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incurr exp. for the same.For ex. say addition to the office building. Therefore APC incudes any external acquisition or internal construction of exp. which needs to be capitalised.

In OADB under 01 deprn area Acquisition & prod Cost tick is activated. *-- Marazban D. Dalal

This is umapathy, I have intereview tomorrow, if anybody have taken interview with any company, kindly let me know what the questions they will be asking, how will be the interview. How the questions will be on configuration, implementation side and other questions plz.. share with me.

Pl. prepare yourself on the following broad lines:

Implementation exp.:
Brief about the project you did: w.r.t. the main activity of the client, How many plants they had, What modules were implemented, Who were the implementers, What’s the implementation team size, How many were in your module team, What’s your role in the project with respect to the activities you partook in the project, The Enterprise Structure with regard to the no. of Company Codes, any Business Areas or Profit Centers defined, Cost Centers defined, What’s the period of the project, When did they Go-Live?, Any issues you’d solved during ‘Support’ phase?

Questions on conceptual understanding:
a) SAP R/3 definition and 3-Tier Architecture
b) ‘Real time integration’ advantage of SAP
c) ASAP methodology
d) Solution Manager
e) Client / Company / Company Code / Business Area
f) Business Area vs Profit Center Approach
g) How effective will be the Financial Statements generated through Business Areas
h) With Holding Taxes vs Extended WHT
i) Field Status Concepts (G/L master fields controlled through Account Group and Document entry through Field Status Group set in the G/L master)
j) Special G/L transactions
k) Open item management
l) Reconciliation Accounts
m) Subsidiary Ledgers
n) Sort key
o) Negative Postings Allowed
p) Special periods
q) Only balances in local currency
r) Important Posting keys for G/L, A/R, A/P, AA, Stock Entries
s) Assessment vs Distribution
t) Org. Structure for FI
u) Org. Structure for CO
v) Product Costing: How the values flow in the system

Configuration:
a) Extended With Holding Taxes configuration steps – right from creation of WH Tax Types, Codes to Annual Return
b) FI-MM Integration (OBYC configuration with particular reference to Off-Setting entries)
c) FI-SD integration
d) Down Payments transactions
e) Interest – Balances / Arrears
f) Asset Accounting: Asset Class, Main Asset, Sub-Asset, Group Asset, Dep. Areas, Dep. Key, Transaction No.s (100- External acquisition, 210 – Retirement with Revenue, etc.), Imp. Transaction Codes.

General questions:
a) Educational Background
b) What influenced you to go in for SAP career?
c) Functional Career
d) Present earnings vs Expected pay
e) Inclination to relocate

SAF FI Technical Interview Questions I

1. Tell me about FI Organizational structure?
Ans: Client
|
Operating Concern
|
Controlling area1 Controlling Area 2
|
Co. Code 1 Co. Code 2
|
Bus area 1 Bus area2 Bus Area3 Bus Area 4

2. How many Normal and Special periods will be there in fiscal year, why do u use special periods?
Ans: 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.

3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based on a/c types considering GL Accounts. Tr. Code. OB52.

4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
Name of the company
City
Country
Currency
Language
Address

5.What is document type, and what does it control? Examples.
Ans: Document type is nothing vouchers containing line items. Several business transac! tions can be identified within a particular document type.
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document

6. What is posting key and what does it control?
Ans: These are special classification keys. Two character numerical key it controls the entry of line items.
Posting key determines Account type, Debit/credit posting, Field status of transaction.

7. What is field status group, what does it control?
Ans: FSG is mandatory field in ! GL Creation. You use this field to define which fields are displayed when you post business transactions to a G/L account.
A field may have one of the following statuses.
- Suppressed
- Display
- Optional
- Required

8. What is chart of account and how many charts of accounts can be assigned to a company?
Ans: Chart of account is a list of all G/L accounts used by one or several company codes.

For 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.

You 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.

You have the following options when using multiple company codes.
You can use the same chart of accounts for all company codes

If 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.

In 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.

The 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.

9. What does definition of a chart of account contains?
Ans: chart of account key
Name
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator

10. Can one COA be assigned to several companies?
Ans: yes. One COA can be assigned to several companies.

11) What is account group and what does it control?
Ans: Account group determines which fields you can configure on the G/L master record. It is necessary to have at least two one for B/S and another one for P&L a/c.
It controls the Number ranges of GL A/C.
The status of fields of the master record of GL belongs to company code area.

12) What is reconciliation account; can you directly enter documents in that a/c?
Ans: When you p! ost items to a subsidiary ledger, the system automatically posts the same data to the general ledger. Each subsidiary ledger has one or more reconciliation accounts in the general ledger.
We can’t use reconciliation account for direct postings.

13) How do you control field status of GL master records and from where do you control!
Ans: Field status variant is maintained all FSGs.

14) What are the segments of GL master record?
Ans:
- COA Segment
A/C group
Nature of account
Short text
GL a/c long text
Trading partner
Group Account Number
- Company code segment
Account currency
Tax
Reconciliation a/c for a/c type
OIM,LID,FSG.

15) What does Field status group assigned to a GL master record controls?
Ans: It controls the account assignments that are made to the account. Specifically the field status group controls whether postings to cost centers, internal orders, profitability segments and so on are required, not allowed (suppressed), or optional.

16) What is Country and operational chart of account? Why do you use group chart of account?
Ans: Operational chart of account – Day to day activities It is mandatory.
Country COA – It’s used for legal specific requirement of each country. It’s additional and optional.
Group COA used for consolidation of Company codes. This is for group consolidation purpose.

17) What are all the segments in a Customer/Vendor master record?
Ans: Segments in Customer Segments in Vendor
- General Data segment General data segment
- Company code segment Company code segment
- Sales area segment Purchasing organization Segment

18) What is open line item management? What do you mean by clearing open line items?
Ans: Open item management is further reconciliation function. OIM allows you to display the open and cleared items and amounts in an account. OIM should be used if an offsetting entry is made for every line item posted in the account. The a/c is reconciled and cleared against another account. Ex. Salary clearing account and GR/IR Clearing account.

19) What is residual payment and part payment?
Ans: Residual payment it clears original invoice with incoming amount and create new line item for remaining outstanding amount.
Partial payment it leaves the original invoice amount and creates new
line item for incoming amount.

20) What is internal and external number ranges?
Ans: 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.
External 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.

SAF FI Technical Interview Questions II

Questions are answer best of my knowledge, if I am wrong, please correct me..anyone…………

1. How can be or in what way baseline date is important in Automatic Payment Program run?

The Baseline date is used to calculate the due date by taking into account the payment terms. On the APP, the baseline date helps to pick the relevant invoices for payment. During the APP run when invoices are pulled into the run, the system checks the ‘Next Payment Date’ before picking the invoices to be paid.

2. Please tell me the procurement cycle how it works?

Procurement cycle – a sales order is placed on a requirement made by a customer, after which it is passed on to create a purchase order (this could either happen based on the requirements on the SO, or a planned SO). the value flow gets passed on to FI at the time of goods movement. In the case of SD, the impact on FI happens only at the time of billing.

3. Difference between Depreciation ,Accumulated Depreciation and APC?
What is APC?

Depreciation – a decrease in the value of an asset due to wear and tear
Accumulated Depreciation – the total amount of depreciation calculated on a particular asset.
APC – refers to Asset transactions other than depreciation

4. What is GR/IR?What journal entries we should pass for this?

The GR/IR – the goods receipt/Invoice Receipt account is used to post to whenever goods that are not yet invoiced have been received or when invoices arrive b4 the the delivery of goods.

During the time between the invoice being created and delivery of goods, there can be a timing difference, in order to accommodate this timing difference, a GR/IR account is maintained temporarily to record the flow .

5. What are the accounting entries take place in MM and SD?

Value from MM to FI is defined in OBYC…. on the material master the flow of values are assigned on the Costing, acctg, etc tabs where the system helps to post the necessary stock values into the appropriate GL accounts. helps to determine, the GL accounts updated when there is a movement of goods.

SD-FI - VKOA

6. Can we assign one Controlling area to two different Company Codes (but the company codes having different
fiscal years/different currencies

Company code should have same financial year, may have different currencies.

You can assign 2 or more company codes to one controlling area as long as the chart of accounts are same. Furthermore, if you have different fiscal year variant in the company code, then make sure that the number of period remain the same.

7. While posting transaction, can we give cost centre / production order at time.

Yes it is posiiable , but in such situation cost centre will be real and production order is stastical.

If you assign both cost center and Prd Order then since Prod. Order are real co object, Cost center entry would be statistical.

8. Which Master data uploads will be done?

The question is not very clear. If you are talking about CO Master data. Then Cost center need to be uploaded. You can use Data Transfer Workbench or write abap for it.

9. Can we run Payment Programe giving ( Hdfc vendor detailes ) City bank in Payment run programe?

Yes can be possible , this can resolved through ranking order and bank optimization in FBZP.

You use use further selection in proposal paramater, if you would like to filter the open item based on the city

10. What does document header control?

Field status.

11. After entering a document can you delete the entry? Can you change the document?
Which fields’ can/not is changed?

Document header cannont be changed, after posting the document you cannot change. only if you want to change the document the reseversal entry.

12. What is a special GL transaction?

The transaction other than A/P and A/R is called the special g/l transaction for ex: Bills of exchange, Interest payable , aqusition

13. How do you reverse cleared documents?

By doing reversal posting.

14. What is base line date? Why is that used? Can this be changed?

For paymentterms it is used. base line date is the due date.

15. How many statistical objects can be selected in when you post an FI document?
Where CCtr, PCtr, OM are active?

SAP FI/CO Sample Questions and Answers I

1. About evolution in the world of business, we can affirmate that (Please choose the correct sentence):

a) [ ] The internet revolution could turn available to companies the use of ERP functionality.
b) [ ] The next generation of “new dimension” products appeared taking functionality out of the company, to bring value through extending the Internet Revolution.
c) [ ] The internet has driven to a collaborative environment where value is created through collaboration within business comunities.
d) [ ] In the first the companies were looking at Cost reduction and efficiency through integration of business comunities.

2. About the definition of ERP and e-business functionalities, we can say that (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):

a) [ ] ERP offers enterprise centric functionality (general ledger, payroll, order entry) to integrate core, internal processes.
b) [ ] ERP is mySAP Financials and mySAP HR.
c) [ ] ERP is SAP R/3, while e-business is mySAP.com.
d) [ ] About Business Model, ERP can be considered as enterprise centric and e-business, as extended and collaborative.
e) [ ] About Architecture, ERP can be considered as an integrated system and e-business, as an integrated system and an open integration platform.
f) [ ] About Processes, ERP can have them integrated, core within enterprises and collaborative, beyond company boundaries.

3. What is a SAP Business Object (Please choose the correct sentence)?

a) [ ] It is all the transaction data generated via transactions.
b) [ ] It is the instancied class of the Class Builder.
c) [ ] It is composed of tables that are related in a business context, including the related appplication programs and it is maintained in the Class Repository.
d) [ ] It is the representation of a central business object in the real world, such as an employee, sales order, purchase requisition, invoice and so on.
e) [ ] It is a sequence of dialog steps that are consistent in a business context and that belong together logically.

4. About BAPI (Business Application Programming Interface), what is true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] It is a well-defined interface providing access to processes and data of business application systems.
b) [ ] BAPIs offer a stable, standardized interface for integrating third-party applications and components in the Business Framework.
c) [ ] A BAPI is assigned to one and only one business object.
d) [ ] In the R/3 Enterprise version (4.7) we can use BAPI to create an internal order inside a customized ABAP program.
e) [ ] A business object in the Business Object Repository (BOR) can have many methods from which one or several are implemented as BAPIs.

5. What can we say about ALE (Application Link Enabling, Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Business processes cannot be distributed using ALE.
b) [ ] The ALE concept is related to an enterprise structure with areas that have central tasks and areas with tasks that are decentralized.
c) [ ] The applications are integrated via a central database.
d) [ ] The applications are integrated via the message exchange.
e) [ ] The ALE concept supports the implementation and operation of distributed SAP applications.

6. A company code is:

a) [ ] an independent accounting entity (the smallest organization element for which a complete self-contained set of accounts can be drawn up).
b) [ ] an organizational unit in an enterprise that represents a closed system used for cost accounting purposes.
c) [ ] an organizational unit that provides an additional evaluation level for the purpose of segment reporting, for example.
d) [ ] a dependent accounting entity, according to Fiscal Year.
e) [ ] the highest level in the R/3 system hierarchy.

7. Consider the following sentences:

7.1. The variant principle is a three-step method used in R/3 to assign special properties to one or more R/3 objects.
7.2. One of the disadvantages to use variants is that it can't deal with the maintenance of properties, which are common among several business objects.
7.3. For using the variant principle, you must define the variant, populate it with values and assign it to the R/3 objects.
7.4. This principle is used for Fiscal Years, Posting Periods and so on.

Which of them is false?
a) [ ] 7.1 and 7.2.
b) [ ] 7.1 and 7.3.
c) [ ] 7.1.
d) [ ] 7.2.
e) [ ] 7.3.

8. Consider the following sentences:

8.1. A fiscal year has to be defined by means of separating business transactions into different periods.
8.2. Special periods are used for postings, which are related to the process of the year-end closing. In total, 16 special periods can be used.
8.3. The Fiscal Year variant only defines the amount of periods and their start and finish dates.
8.4. The Fiscal Year is defined as a variant, which is assigned to the chart of accounts.

Which of them are true?

a) [ ] 8.1 and 8.2.
b) [ ] 8.1 and 8.3.
c) [ ] 8.2 and 8.3.
d) [ ] 8.2 and 8.4.
e) [ ] 8.3 and 8.4.

9. What is an independent fiscal year variant (Please choose the correct sentence)?

a) [ ] It is a variant which the postings periods are only equal to the months of the year.
b) [ ] It is a variant which you can define different number of periods, according to the year.
c) [ ] It is a variant which each own fiscal year uses the same number of periods, and the postings periods always start and end at the same day of the year.
d) [ ] It is a variant which allows the use of different number of posting periods.
e) [ ] It is a variant not normally used because of its particularity.

10. Consider the following statements about currencies concepts:

10.1. The currency code identifies each currrency that will be used into R/3 system.
10.2. You have to define all the worldÂ’s currency into R/3 system
10.3. Exchange rate types distinguishes the exchange rates to be considered for various purposes, such as valuation, translation, conversion, planning, etc.

Which of them is true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 10.1.
b) [ ] 10.2.
c) [ ] 10.3.
d) [ ] none of them.
e) [ ] all of them.

11. Consider the following sentences:

11.1. A base currency can be assigned to an exchange rate type.
11.2. To deal with exchange rate spreads, two very efficient combinations of the exchange rate tools are using a base currency for the average rate (M) and using the exchange rate spreads to calculate the buying and selling rates (B and G).
11.3. A base currency can be used for an average, a buying or a selling rate.
11.4. The relations between currencies have to be maintained per exchange rate type and currency pair in the translation factors.

Which of these combinations is true?

a) [ ] 11.1, 11.3 and 11.4.
b) [ ] 11.1, 11.2 and 11.4.
c) [ ] 11.2, 11.3 and 11.4.
d) [ ] 11.1, 11.2 and 11.3.
e) [ ] 11.1, 11.2, 11.3 and 11.4.

12. Consider the following sentences about the direct quotation:

12.1. It is also known as price notation.
12.2. The currency value is expressed in units of the foreign currency per unit of local currency.
12.3. For direct quotation, the prefix to indicate the rate is “/”.

What is the correct option?

a) [ ] 12.1.
b) [ ] 12.2.
c) [ ] 12.3.
d) [ ] none of them.
e) [ ] all of them.

13. Consider the following sentences about the indirect quotation:

13.1. It is also known as volume notation.
13.2. The currency value is expressed in the local currency per unit of foreign currency.
13.3. For indirect quotation, there is no prefix to difference between direct quotation.

What is the correct option?

a) [ ] all of them.
b) [ ] none of them.
c) [ ] 12.3.
d) [ ] 12.2.
e) [ ] 12.1.

14. What of these alternatives are considered master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Chart of Accounts.
b) [ ] G/L Accounts.
c) [ ] Vendor.
d) [ ] Customer.
e) [ ] Asset.

15. What can we define into the chart of accounts customizing transaction (OB13 transaction, Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Description.
b) [ ] Maintenance language.
c) [ ] Length of the company code.
d) [ ] Length of the G/L account number.
e) [ ] Blocking / unblocking chart of accounts.

16. Consider the following sentences about the chart of accounts segment:

16.1. It contains the Company Code, Account number and the field status group.
16.2. Whenever you need to enter information for a company code for an account number, you have to type again the information related to chart of accounts segment.
16.3. Texts can be displayed using the program “Account assignment manual”(RFSKTH00).
16.4. Key words facilitate the search for account numbers.

Which of these combinations are false (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 16.1.
b) [ ] 16.2.
c) [ ] 16.3.
d) [ ] 16.4.
e) [ ] none of them.

17. True or false?

17.1. Every company code that needs to use an account from the assigned chart of accounts has to create its own company code segment.
a) [ ] True b) [ ] False

17.2. For P+L statement accounts, the balance is carried forward to the same account.
a) [ ] True b) [ ] False

17.3. In the chart of accounts segment, it is necessary to indicate whether the account will be a balance sheet or a profit+loss statement account.
a) [ ] True b) [ ] False

17.4. Number intervals for G/L account master records can overlap.
a) [ ] True b) [ ] False

17.5. It is not possible to influence the appearance of an account’s master data.
a) [ ] True b) [ ] False

18. Consider the following sentences about field status:

18.1. Fields which are _____________ can be ____________.
18.2. Fields which have an entry that ________________ can be set to
_________ only (even in change mode).

Which of the options below matches the blank spaces of those sentences?

a) [ ] used/supressed for 18.1; must be changed/display for 18.2.
b) [ ] not used/supressed for 18.1; must be changed/display for 18.2.
c) [ ] not used/optional for 18.1; should not be changed/supressed for 18.2.
d) [ ] not used/supressed for 18.1; should not be changed /display for 18.2.
e) [ ] used/optional for 18.1; must be changed/display for 18.2.

19. Consider the following sentences about field status:

19.1. Fields which _____________ can be made ____________.
19.2. Fields that can be entered, but are not required, can be set to _________ entry.

Which of the options below matches the blank spaces of those sentences?

a) [ ] must not have an entry/optional for 19.1; suppresed for 19.2.
b) [ ] must have an entry/supressed for 19.1; suppresed for 19.2.
c) [ ] must have an entry/optional for 19.1; optional for 19.2.
d) [ ] must have an entry/required for 19.1; optional for 19.2.
e) [ ] must not have an entry/required for 19.1; optional for 19.2.

20. Consider the following sentences:

20.1. Reconciliation accounts are general ledger accounts assigned to the business partner master records to record all transactions in the sub-ledger.
20.2. For accounts without line item display, the most important data from the posted line items is stored in a special index table.
20.3. The account currency must be in the local currency.
20.4. Items in accounts with open item management means the G/L accounts should have a offsetting posting for a given business transaction.

Which of these are true (Please choose the correct sentence)?

a) [ ] 20.1 and 20.3.
b) [ ] 20.2 and 20.4.
c) [ ] 20.1 and 20.2.
d) [ ] 20.2 and 20.3.
e) [ ] 20.1 and 20.4.

Answers:
1. C
2. A, C, D, E.
3. D
4. A, B, C, D, E.
5. B, D, E.
6. A

Item “B” is the definition of controlling area.
Item “C” is the definition of business area.
Item “D” is not any definition.
Item “E” is the definition of client.

7. D
In fact, the main advantage of using variants is that it is easier to
maintain properties, which are common among several business objects.

8. B
9. C
10. A, C.
Most of the world’s currencies are already defined into R/3 system.

11. B
Be careful: A base currency can only be used for an average rate, not for a selling or a buying rate.

12. A
13. E
14. B, C, D, E.
A chart of accounts is a variant, which contains the structure and the basic information about general ledger accounts.

15. A, B, D, E.
16. A, B.
17. True or false:

17.1. True.
17.2. False. For P+L statement accounts the balance is carried forward to a retained earnings account and the P+L statement account is set to zero.
17.3. True.
17.4. True.
17.5. False. It is possible to influence the appearance of an account’s master data using the field status.

18. D
19. D
20. E

SAP FI/CO Sample Questions and Answers II

1. Since the line item display takes up additional system resources, you should only use it if there is no other way of looking at the line items. So, you should not activate the line item display for the following accounts (Note: we can have more than one correct sentence. Please select the sentences you think they are correct):

a) [ ] P+L Statement.
b) [ ] Reconciliation.
c) [ ] Revenue.
d) [ ] Material Stock.
e) [ ] Tax.

2. Consider the following statements:

2.1. Accounts with open item management must have line item display activated.
2.2. You can activate or deactivate open item management everytime, even if the account hasnÂ’t a zero balance.
2.3. You can select both local and foreign currencies as account currency.
2.4. If the account is the local currency, the account can only be posted to this currency.
2.5. When using the “Only Balances in Local Currency” indicator in the master data record, transaction figures are only managed for amounts translated into local currency.

Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?
a) [ ] 2.1.
b) [ ] 2.2.
c) [ ] 2.3.
d) [ ] 2.4.
e) [ ] 2.5.

3. True or false?

3.1. The “Only Balances in Local Currency” indicator must not be set in reconciliation accounts for customers or vendors.
a) [ ] True. b) [ ] False.

3.2. The “Only Balances in Local Currency” indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed on an open item basis.
a) [ ] True. b) [ ] False.

3.3. Accounts with a foreign currency as an account currency can be posted to any currency.
a) [ ] True. b) [ ] False.

3.4. You can use a group chart of accounts for internal purposes.
a) [ ] True. b) [ ] False.

3.5. The usage of a financial statement version for the group chart of accounts is optional.
a) [ ] True. b) [ ] False.

4. What is the disadvantage of using the group chart of accounts (Please choose the correct sentence)?

a) [ ] Because changes to existing G/L Accounts are effective as soon as they have been saved and could have extensive consequences.
b) [ ] Because accounts with the account currency as local currency can only be posted to this local currency.
c) [ ] Because the company codes use different operational chart of accounts, you cannot carry out cross-company code controlling.
d) [ ] Because the group chart of accounts must be assigned to each operational chart of accounts.
e) [ ] Because you must enter the group account number in the chart of acounts segment of the operational account.

5. Consider the following statements:

5.1. You cannot use the country chart of accounts if you desire to use the cross-company code controlling.
5.2. The disadvantage of using country chart of accounts is the accounting clerks who may be familiar with the country chart of accounts first have to get used to using the operational chart of accounts.
5.3. Reconciliation accounts are updated on a daily basis.

Which of them are false (Please choose the correct sentence)?

a) [ ] 5.1 and 5.2.
b) [ ] 5.1 and 5.3.
c) [ ] 5.2 and 5.3.
d) [ ] all of them.
e) [ ] none of them.

6. Which are the segments of the SD view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

7. Which are the segments of the MM view of the customer account master data (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

8. What is the segment that makes complete both customer and vendor accounts (Please choose the correct sentence)?

a) [ ] Client.
b) [ ] Company Code.
c) [ ] Controlling Area.
d) [ ] Sales Area.
e) [ ] Purchasing Organization.

9. What characteristics are configured as standard for every customer/vendor account (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Line Item Display.
b) [ ] Company Code.
c) [ ] Currency.
d) [ ] Open Item Management.
e) [ ] Purchasing Organization.

10. Consider the following statements:

10.1. Number ranges for customer/vendor accounts can overlap.
10.2. An one-time account is a special customer/vendor master record which a company rarely do business.
10.3. The account group is used to control the fields displayed in the master record.
10.4. If you enter an alternative payer, the amount to clear the open items due in the account is paid by the alternative payer.
10.5. One number range can only be assigned to one account group.

Which of the above statements are true (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] 10.1.
b) [ ] 10.2.
c) [ ] 10.3.
d) [ ] 10.4.
e) [ ] 10.5.

11. True or false?

11.1. For every bank that is used in the system (for example, as a house bank or as a customer/vendor bank) you have to create a bank master record.
a) [ ] True. b) [ ] False.

11.2. Banks that are used by your company are defined as house banks.a) [ ] True. b) [ ] False.

11.3. You cannot create bank master data when entering bank information in the customer or vendor master record.
a) [ ] True. b) [ ] False.

11.4. Bank Account and G/L Account are the same master data object.
a) [ ] True. b) [ ] False.

11.5. Customers that use the lockbox function can create a batch input session that automatically updates customer banking information in the master record.
a) [ ] True. b) [ ] False.

12. Consider the following statements:

12.1. The system can assign the document numbers or the user can assign
the number during document entry.
12.1. A business transaction creates only one document.
12.3. Document types are defined at company code level.
12.4. Number ranges for document numbers and account types defined for postings are defined by the document types.
12.5. Document types also define whether invoices are posted with the net procedure.

Choose the correct option:

a) [ ] 12.1, 12.4 and 12.5 are correct.
b) [ ] 12.2, 12.4 and 12.5 are correct.
c) [ ] 12.3, 12.4 and 12.5 are correct.
d) [ ] 12.1, 12.3 and 12.4 are correct.
e) [ ] 12.1, 12.2 and 12.5 are correct.

13. What do the posting keys specify (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Whether the line item is connected to a payment transaction or not.
b) [ ] Whether the posting is sales-relevant and the sales figure of the account is to be updated by the transaction, for example, by the posting of a customer invoice.
c) [ ] Whether the line items contain “credit” or “debit” values.
d) [ ] Whether the line items are valid for a business transaction.
e) [ ] Whether the accounts are allowed for posting.

14. Consider the following statements:

14.1. A company code must be assigned to a posting period variant to have the control for posting periods.
14.2.‘+’ symbol represents all account types in the posting period customizing screen.
14.3. The account interval in the posting period customizing screen can be both G/L and subledger accounts.
14.4. The maximum amounts are defined per company code in “tolerance groups”.
14.5. It is not possible to assign tolerance groups to user logon ID’s.

Choose the correct option:

a) [ ] 14.1, 14.4 and 14.5 are correct.
b) [ ] 14.2, 14.4 and 14.5 are correct.
c) [ ] 14.3, 14.4 and 14.5 are correct.
d) [ ] 14.1, 14.2 and 14.4 are correct.
e) [ ] 14.1, 14.2 and 14.5 are correct.

15. What fields of a FI Document Header section can be changed after a document has already been posted (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] Fiscal Year.
b) [ ] Reference Number.
c) [ ] Text fields.
d) [ ] Header text.
e) [ ] Posting date.

16. About the change control, what conditions below are applicable (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

16.1. The posting period is already closed.
16.2. The line item is not yet cleared.
16.3. The document is a credit memo for an invoice.
16.4. The document is not a credit memo from a down payment.
16.5. The line item is either a debit in a customer account or a credit in a vendor account.

a) [ ] 16.1.
b) [ ] 16.2.
c) [ ] 16.3.
d) [ ] 16.4.
e) [ ] 16.5.

17. What are the prerequisites to enable negative postings (Note: we can have more than one correct sentence. Please select the sentences you think they are correct)?

a) [ ] You have to define reversal reasons for negative reversal.
b) [ ] You have to ensure company code permits negative postings.
c) [ ] You have to define the document type that explicitly allows negative postings.
d) [ ] You have to use cleared items.
e) [ ] You have to reset cleared items.

18. What is the purpose of the terms of payment (Please choose the correct sentence)?

a) [ ] Calculate a cash discount and invoice due date.
b) [ ] Calculate the tax amounts.
c) [ ] Enable the cross-company code transactions.
d) [ ] Define the baseline date.
e) [ ] Calculate only the required conditions for SD invoices.

19. Consider the following statements:

19.1. Terms of payments are copied from invoice to credit memos when they are linked to.
19.2. Inserting a “V” in the invoice reference field during document entry means the terms of payment are activated in the
non-invoice-related credit memos.
19.3. The account type field in terms of payment basic data screen should be defined separately, to prevent any done change in the term of payment.
19.4. The system cannot define the splitment of an installment payment, at least you define it in the terms of payment.
19.5. The day limits define the dates of the cash discount periods.

Which of the statements above is false (Please choose the correct sentence)?

a) [ ] 19.1.
b) [ ] 19.2.
c) [ ] 19.3.
d) [ ] 19.4.
e) [ ] 19.5.

20. True or false?
20.1. SAP supports tax on sales and purchases, US sales tax, additional taxes and withholding tax as tax systems for different countries.
a) [ ] True. b) [ ] False.
20.2. Only national level of taxation is allowed in the R/3 system.
a) [ ] True. b) [ ] False.
20.3. A tax calculation procedure is assigned to every company code for carrying out tax calculations.
a) [ ] True. b) [ ] False.
20.4.A jurisdiction code is a combination of the codes of tax authorities that tax movements of goods and use their own tax rates.
a) [ ] True. b) [ ] False.
20.5. If you desire to post manual tax postings, you have to flag the “Post Automatically Only” field of the account master record.
a) [ ] True. b) [ ] False.

Answers:
1. B, C, D, E.
2. A, C, E.

3. True or false:
3.1. True.
3.2. True.
3.3. False. Accounts with a foreign currency as an account currency can only be posted to in this foreign currency.
3.4. True.
3.5. False. You must use a financial statement version for the group chart of accounts.

4. C.
Item “a” is related to Collective Processing for G;L Accounts Master Data.
Item “b” is not true for the R/3 system concept. If the account currency is the local currency, the account can be posted to in any currency.
Item “d” and “e” are some actions to be done for using group chart of accounts, so, they are not the disadvantage.

5. B.
In fact, since all company codes use the same operational chart of accounts for postings, you can carry out cross-company code controlling. About Reconciliation accounts, they are updated realtime.

6. A, D.
7. A, E.
8. B.
9. A, D.
10. B, C, D.

NOTE: A number range can be assigned to several account groups.

11. True or false?

11.1. True.
11.2. True.
11.3. False. In fact, we can create bank master data when entering bank
information in the customer or vendor master record.
11.4. False. Each bank account is reflected in the SAP System by a combination of house bank ID and account ID. This combination is entered in a G/L account that represents the bank accounting the general ledger.
11.5. True.

12. A.
13. A, B, C, E.
14. D.
15. B, C.
16. B, D, E.
17. A, B, C.
18. A.
19. E.

The day limits are used to store several versions of terms of payment under the same terms of payment key.

20. True or false:
20.1. True.
20.2. False. Two types of taxation can be represented in the R/3 system: taxation at national level and taxation at regional/jurisdiction level.
20.3. False. A tax calculation procedure is assigned to every country for carrying out tax calculations.
20.4. True
20.5. False. If you have selected this field, no manual tax postings are allowed.

FI Errors and Probable Solutions

These are some of the issue for which probable solutions are given, hope they are helpful :

Scenario 1:
I have configured FBZP, Fi12 for house bank. But when I am doing payment run in F110 I am getting following error:

Company codes X1YZ/X1YZ do not appear in proposal 05/03/2006 REMI2.

Diagnosis
No data exists for the specified paying company code X1YZ and the specified sending company code X1YZ in payment proposal 05/03/2006 REMI2.

System response
The payment proposal cannot be edited.

Procedure
Check the flow trace and payment proposal list in order to determine why the specified company codes are not contained in the proposal

Solution :
* That’s generic error for payment run, check whether there are any due items as on date (tcode fbl1n). You can also change the baseline date there and rerun it. if you still get same error.. Check the proposal log, you will find the reason.

* Try to see first whether any open items exist. By using FBL1N.

Scenario 2:
How to make the payment through automatic payment program, through F-110 .What are the prerequisites?

Solution :
For Down payments to be paid using APP we have create a Down Payment request F-47.

Scenario 3:
While doing APP, after, " the payment proposal has been created message " if edit proposal is selected, I am getting the error as "Company code ABC/ABC do no appear in the proposal "

Solution :
This type of error comes when your Payment proposal doesn't have any items to process. Check the parameters and ensure invoices are due as on run date.

Scenario 4 :
While posting customer invoice (FB70) why system asks for G/L account? As per accounting rules customer is debited and Customer reconciliation a/c is credited that ends double entry book keeping rule. Why one more G/L account on top of Recon a/c, which is posted automatically?

Solution :
* Entry gets posted to Customer a/c through reconciliation account. You have to give a GL a/c for revenue.

Your entry would be
Customer (Reconciliation a/c) Dr
To Revenue Cr

* Reconciliation is a fictious entry so you cannot consider as an entry to be entered by the user. This rule is derived from the fact that 'we cannot enter/post directly to RECON account'.

That is why system needs a GL account to make the account balance as zero. Manual entry could be:

Customer a/c Dr
To Domestic Sales a/c
(Sales invoiced posted)

Recon entry is automatically made once you post this entry since you have configured your RECON in the IMG.

Scenario 5 :
I am unable to figure out how to attach my GL Accounts to my company code [copied chart of accounts, have my own company code, assigned my company code to the chart of accounts].

Solution :
You can attach the GL Accounts by just filling the details in the company code segment of the GL A/c. Hence you can use that gl a/c for your co code.
But that would be individually creating the accounts. Right?? How about creating all accounts at one shot. Create in FS00

Scenario 6 :
Difference between Standard Hierarchy and Alternate Hierarchy.

Solution :
Standard Hierarchy is basic structure of company but alternative hierarchy is just for reporting or temporary usage.

Scenario 7:
I have created depreciation keys (diminishing balance) and assigned to asset classes respectively. But at the time of asset master creation the system ask for Useful Life of the asset while my understanding is that in diminishing balance method there is useful life, just percentage is defined.

Solution :
Useful life is required for depreciation change. Normally a company with WDV depreciation may want to write off its assets which have crossed their useful life in 2 or 3 installments. This is achieved by depreciation change, where after useful life, a new method takes over.

Scenario 8 :
I have some conceptual problem in Internal Order.

Solution :
Internal order can only take a statistical posting & cost centre shall take a true posting when the relevant internal order is defined as statistical I/O IN T. code KO01(CONTROL DATA ) tab. So while making a posting in FB50 and assigning both I/O & COST CENTRE as relevant cost object in the transaction you shall get the stated status of these 2 cost object.

Scenario 9 :
In fb50, in the details tab, only if I tick 'calculate tax' will the tax get calculated.
Our user wants this to happen always (by default), i.e. he does not want to tick this for each transaction. Is there any setup to be done for the tax to get calculated always?

Solution :
Even now you are not clear. T_Code FB50 is used for posting GL account only. I fail to understand how you can calculate tax which is generally from purchase / vendor or Sales / Customer oriented through FB50.

In case of local distribution, if we forget to pay taxes on certain items and we need to pass tax entries, then such a case is needed. This can be achieved thru default parameter id for that particular user through transaction code SU3.

In SU3, in Parameters Tab put "XTX" in Parameter ID column and in Parameter Value column put "X".

Scenario 10 :
We have an issue here where by the system is calculating the tax for an invoice with a wrong tax base amount. How do i change the tax base amount? I get the tax rates from VERTEX and they are showing right. Where does the system pull this tax base amount for an Invoice and how can I change it.

Solution :
Kindly check this:
spro - financial accounting - f.a global setting - with holding setting - extended with holding setting -- calculation -- with holding tax type .

Check your withholding tax type, go in it and check the setting.