Interview Questions.

Q1. What Is Dunning In Fi? What Are The Requirement Of Using Dunning?

In SAP FI, If client misses the price for the excellent invoice with the aid of charge due date You can generate dunning letter the usage of SAP FI and ship it to consumer deal with for reminding the customer excellent payment.

Requirement − The dunning gadget permits to hint responsible customers who have now not paid their open invoices within a given time span. It allows you to address the technique from, for instance, sending a reminder to clients of their extremely good bills through to referring such clients to collections companies.

The dunning gadget covers beneath files −

Open A/R invoices, together with invoices which might be partially credited or partly paid.

Invoices that include installments.

A/R credit score memos.

Incoming payments that are not based on invoices.

Q2. How Do You Define Credit Control Area In Fi?

T-code: FD32 is used to outline the credit score manage location in SAP FI.

Q3. What Is Account Group And What Does It Control?

Account group determines which fields you may configure at the G/L master file.

It is important to have at the least two one for B/S and some other one for P&L a/c .It controls the user stages of GL A/C.

The popularity of fields of the grasp file of GL belongs to company code place

Q4. What Are Posting Keys? State The Purpose Of Defining Posting Keys?

Posting keys decide whether or not a line item access is a debit or a credit as well as the feasible area popularity for the transaction. Posting keys are SAP added. If u need adjustments like making additional fields optionally available on payment type posting keys then the excellent viable action is to duplicate the posting key that desires to be modified and then adjust it.

Q5. What Are Special Periods Used For?

The Special periods in a economic 12 months variant can be used for things like posting audit or tax adjustments to a closed economic 12 months.

Q6. What Is The Use Of Fi-asset Accounting Component?

The FI-Asset Accounting (FI-AA) issue is used for dealing with the constant property in FI system. In Financial Accounting, it serves as a subsidiary ledger to the General Ledger, presenting specified records on transactions involving constant property.

Integration with different components − As a end result of the combination inside the SAP System, Asset Accounting (FI-AA) transfers records at once to and from other SAP additives.

Q7. Define Relationship Between Controlling Area And Company Code?

A controlling vicinity can also encompass one or extra organisation codes which must use the equal operative chart of debts because the controlling vicinity. A Controlling Area can comprise more than one organization code assignments however a unmarried enterprise code may be assigned to handiest one controlling location.

Q8. What Are Document Types And What Are They Used For?

Document kind is the identifier of differentt account transactions like SA for G/L,AA for Asset Accounting and many others.The document. Types controls things like kind of the account that may be published to, the variety variety assigned to it, and required doc header fields.

Q9. What Are Field Status Groups?

Field reputation agencies manage the additional account assignments and different fields that may be posted at the road item degree for a G/L account.

Q10. What Are The Customizing Prerequisites For Document Clearing?

Account need to be controlled at the open item management. This tick is there in the General Ledger Master Record called open item Management. It lets you manipulate your accounts in phrases of cleared and uncleared gadgets. A normal instance can be GR/lR Account in SAP(Goods Received/bill Received Account).

Q11. Which Of The Fields You Can Display And Log Changes In Fi?

When you change a grasp record, the system logs those adjustments and generates alternate files. For each subject, it stores the time of change, the name of the consumer, and the preceding field contents.

You can display all of the changes for the following −

A positive field

A grasp file

For numerous vendor grasp statistics, following adjustments are displayed one by one −

Overwritten subject contents.

Any financial institution details and/or dunning regions entered after the master record became created.

Any financial institution info and/or dunning regions that have been deleted.

Using the alternate files, you can discover all the modifications which are made and once they had been made.

Q12. What Are The Common Document Types In Fi?

Common Document kinds Key are −

AA - Asset Posting.

AN - Net Asset Posting.

DR - Customer Invoice.

DZ - Customer Payment.

KA - Vendor Document.

KG - Vendor Credit Memo.

Q13. What Do You Mean By Year Dependent In Fiscal Year Variants?

Year Dependent: the financial 12 months is same as calendar year. Starting from 1st Jan to thirty first Dec (where posting periods and the calendar months are same).

Year Independent: the monetary yr isn't the same as calendar 12 months Starting from 1st April to 31st March (wherein the posting length months aren't same to calendar year months).

Q14. What Are Posting Periods?

The Posting duration version controls which posting periods, each regular and unique, are open for every organization code. It is viable to have a different posting length variant for every corporation code in the corporation. The posting length is unbiased of the fiscal 12 months variant.

Q15. Explain The Most Common G/l Reports In Fi?

There are various G/L reports that can be generated in SAP FI. Most common are:

G/L Chart of Accounts List.

G/L Account Balances.

G/L Account List.

G/L Account Totals and Balances.

Q16. What Is The Use Of Account Receivables In Fi?

SAP FI Accounts Receivable aspect data and manages accounting records of all clients. It is likewise an vital a part of income management.

All postings in Accounts Receivable also are recorded at once within the General Ledger. Different G/L money owed are updated relying at the transaction concerned (for example, receivables, down bills, and payments of change).

Q17. How Do You Manage Relationship Between Two Currencies In Sap Fi?

Exchange Rates are used to outline dating between  currencies and also to hold change fees are used to translate an quantity into some other currency.

You outline trade rates inside the device for the subsequent purposes −

Posting and Clearing : To translate amounts posted or cleared in foreign forex, or to check a manually entered change charge for the duration of posting or clearing.

Exchange Rate Differences : To determine gains or losses from exchange rate variations.

Foreign Currency Valuation : To valuate open items in overseas foreign money and foreign foreign money balance sheet debts as a part of the final operations.

Q18. What Are Shortened Fiscal Year? When Are They Used?

Shortened Fiscal Year: a monetary yr, which has much less than 12 durations.

Q19. How Are Tolerance Group For Employees Used?

Tolerance institution stores Posting quantity defaults. Tolerance corporations are assigned to User ID’s that guarantees only authorized folks could make postings.

Q20. What Are Adjustment Postings And Its Use? Give T.Codes And Paths If Possible?

Fb50,f-02 and others will be used for modifications. These changes are to accurate any financial illustration that has already been booked into the bills.

Q21. What Is The Use Of Sales Returns In Fi?

Sales Returns in SAP FI is used to manage full products that the patron has returned because of a complaint. These are used in client proper enterprise.

All returns are associated with pleasant defects and no longer wrong deliveries. The path that the lower back merchandise takes often must be tracked in element. Returned object must be sent for inspection.

Q22. What Is The Difference Between Company And Company Code?

A company is the organizational unit used inside the felony consolidation module to roll up monetary statements of numerous business enterprise codes.The Company Code is the smallest organizational  unit for which a complete self-contained set of debts may be drawn up for purposes of outside reporting.

Q23. In Customizing "organization Code Productive" Means What? What It Denotes?

Once the enterprise code is stay this take a look at box allows save you deletion of many programmes accidently. This test field is activated simply before pass live.. Accounts Receivable and Accounts payable.

Q24. What Are The Different Submodules In Sap Fi?

General Ledger

AR/AP

Banks

Fixed Assets

Travel Management

Lease Accounting, and so on.

Q25. How Do You Manage Outgoing Partial Payment For Vendor In Fi?

In SAP FI, you may also put up outgoing partial bills for dealer. Partial fee from dealer could be open as open item and no clearing record could be generated.

Q26. How Can You Manage Partial Payment From Customers In Fi?

In SAP FI, you may additionally publish partial payments from client. These partial payments are posted as separate open objects.

Customer can see virtually what all bill has been issued to consumer and what bills he has made. But it continues the multiple open objects, until the invoice is fully paid/ cleared.

Example : There is a client with an wonderful quantity of 1500 and makes a payment of 500 as partial price then there will two separate open gadgets of 1500 Debit and 500 Credit in FI gadget and there could be no clearing record is created.

Q27. What Are Substitutions And Validations? What Is The Precedent?

Validations are used to check settings and go back a message if the prerequisite check situation is met. Substitutions are just like validations; they truly update and fill in subject values backstage with out the consumer’s knowledge not like validations that create on-display screen msgs to the person.

Q28. What Is A Controlling Area?

The Controlling Area is the principal organizational unit inside CO module. It is representative of a contained Cost Accounting envt in which prices and revenues may be managed.

Q29. Is Business Area At Company Code Level?

No. Business area is at purchaser degree. Which approach different organization codes also can post to the same commercial enterprise vicinity.

Q30. How Do You Manage Credit Limit For The Customer In Fi?

Credit manipulate in FI is used to check the credit score restrict for the consumer and it can use one or greater codes. It is used for credit score management in Application components- Account Receivable (AR) and Sales and Distribution.

The credit score manage vicinity is decided within the following series −

User exit

Distribution channel

Customer grasp

Company code for the sales corporation

Q31. How Many Chart Of Accounts Can Be Attached To A Company Code?

One or greater Operative Chart of Accounts can be assigned to a business enterprise code.

A COA need to be aasigned to a enterprise code. This COA is the operative COA and is utilized in both FI and CO. One Chart of Account can be assigned to many Company codes i.E., Multiple company codes can either share the equal or have separate COA. But a corporation code (Country particular Company code or International Company code) may have a country unique COA also at the side of Operative COA. The hyperlink among the regular COA and the us of a COA seems inside the exchange quantity discipline of the G/L master file.

Eg: If a employer’s subdidiaries are positioned in both US & Mexico. We need to configure 2 Company codes – one for US and some other for Mexico,for eg U100 and M10@The equal way we create 2 COA’s one for US & one for Mexico, USCA and MXCA. Mexico has special executive reporting necessities than america so we will need to define a organisation code unique to Country Mexico and also create a rustic specific COA for use, further to regular COA. In tcode OBY6(Comp Code Global Parameters) of CC M100 we outline normal COA i.E.,USCA in Chart of Accounts area and MXCA in Country Chart/Accts subject.

Q32. At What Level Are The Customer And Vendor Code Stored In Sap?

The customer and vendor code are at the client level. That means any corporation code can use the customer and seller code through extending the corporation code view.

Q33. What Is A Fiscal Year Variant?

Fiscal Year is a period of twelve months and SAP affords 4 special intervals to posting adjustment Entries. Fiscal 12 months determines posting durations. Posting periods are used to assign business transactions. Fiscal 12 months may be year structured or year impartial.

Q34. We Always Copy Company Code Or We Can Create Manually Also? If Possible Give Reasons Also.

There are hundreds of tables that get copied over while copying co codes. This might be incomplete in a manual copy, and as a result the guide route isn't advisable.

Q35. What Are The Common Activities Performed In Month End Closing In Sap Fi?

In SAP FI, month stop closing involves activities in posting a remaining period. You can perform the following sports as a part of month-give up final −

Open and close posting intervals.

You close one or extra posting intervals inside the beyond for posting, and permit posting to be made to 1 or extra present day or destiny posting intervals.