SAP FICO INTERVIEW QUESTIONS

CLICK HERE

EBS CNFIGURATION

 Click here

BRS CONFIGURATION STEPS

When the bank statement is uploaded in SAP the following will happen:-

For checks issued out – based on checks cleared in the bank account the

following entry will be passed automatically.

111411 ICICI check issued out Debit

111410 ICICI bank – Main account a/c Credit

For checks received in – based on checks cleared in the bank account the

following entry will be passed automatically.

111419 ICICI check received Credit

111410 ICICI bank – Main account a/c Debit

Thus after uploading the bank statement in the system, the Main bank

account i.e. GL code 111410 ICICI bank – Main account a/c will exactly

match with the balance shown in the bank. All the clearing accounts having

balances will be the reconciliation items.

Manual bank statement – In case the bank is not able to give an electronic

statement then the statement can be manually entered in the manual bank

statement and uploaded.

The common configuration for both type of statement is as follows:-

1.2.1 Make Global Settings for Electronic Bank Statement

IMG à Financial Accounting à Bank Accounting à Business Transactions à

Payment Transactions à Electronic Bank Statementà Make Global Settings

for Electronic Bank Statement

under this path following steps

1.    Create account symbol

Specify G/L accounts (such as bank, cash receipt, outgoing checks) to which

postings are to be made from account statement.

You assign account symbols to the G/L account numbers. These are required

for the posting rules in bellow.

2.    Assign accounts to account symbols

Here we assign accounts to account symbols. To avoid having to define a separate account symbol for every single.House bank account (with a different G/L account in each case), the

G/L account field can contain a masked output. The masking is done using ++++++ for the main bank account. For the sub accounts all the other digits are masked except the last one.

3. Create keys for posting rules

4. Define posting rules

Here you will assign the posting rules to the account symbols created.

INTERVIEW QUESTIONS FOR AP & AR

At what level are the customer and vendor codes stored in SAP?

The customer and vendor code are at the client level. That means any

company code can use the customer and vendor code by extending the

company code view.

How are Vendor Invoice payments made?

Vendor payments can be made in the following manner:

Manual payments without the use of any output medium like cheques

etc.

Automatic Payment program through cheques, Wire transfers, DME etc.

How do you configure the automatic payment program?

The following are the steps for configuring the automatic payment

program:-

Step 1 Set up the following:

Co. code for Payment transaction

Define sending and paying company code.

Tolerance days for payable

Minimum % for cash discount

Maximum cash discount

Special GL transactions to be paid

Step 2 Set up the following:

Paying company code for payment transaction

Minimum amount for outgoing payment

No exchange rate diff

Separate payment for each ref

Bill/exch payment

Form for payment advice

Step 3 Set up the following:

Payment method per country

Whether Outgoing payment

Check or bank transfer or B/E

Whether allowed for personnel payment

Required master data

Doc types

Payment medium programs

Currencies allowed

Step 4 Set up the following:

Payment method per company code for payment transactions

Set up per payment method and co. code

The minimum and maximum amount.

Whether payment per due day

Bank optimization by bank group or by postal code or no

optimization

Whether Foreign currency allowed

Customer/Vendor bank abroad allowed

Attach the payment form check

Whether payment advice required

Step 5 Set up the following:

Bank Determination for Payment Transactions

Rank the house banks as per the following

Payment method, currency and give them ranking nos

Set up house bank sub account (GL code)

Available amounts for each bank

House bank, account id, currency, available amount

Value date specification

Where do you attach the check payment form?

It is attached to the payment method per company code.

Where are Payment terms for customer master maintained?

Payment terms for customer master can be maintained at two places i.e.

in the accounting view and the sales view of the vendor master record.

Which is the payment term which actually gets defaulted when the

transaction is posted for the customer (accounting view or the sales

view)?

The payment term in the accounting view of the customer master comes

into picture if the transaction originates from the FI module. If an FI

invoice is posted (FB70) to the customer, then the payment terms is

defaulted from the accounting view of the customer master.

The payment term in the sales view of the customer master comes into

picture if the transaction originates from the SD module. A sales order is

created in the SD module. The payment terms are defaulted in the sales

order from the sales view of the customer master.

Where are Payment terms for vendor master maintained?

Payment terms for Vendor master can be maintained at two places i.e. in

the accounting view and the purchasing view.

Which is the payment term which actually gets defaulted in

transaction (accounting view or purchasing view)?

The payment term in the accounting view of the vendor master comes

into picture if the transaction originates from the FI module. If an FI

invoice is posted (FB60) to the Vendor, then the payment terms is

defaulted from the accounting view of the vendor master.

The payment term in the purchasing view of the vendor master comes

into picture if the transaction originates from the MM module. A

purchase order is created in the MM module. The payment terms are

defaulted in the purchase order from the purchasing view of the vendor

master.

Explain the entire process of Invoice verification from GR to Invoice

verification in SAP with accounting entries?

These are the following steps:

A goods receipt in SAP for a purchased material is prepared referring a

purchase order.

When the goods receipt is posted in SAP the accounting entry passed is:-

Inventory account Debit

GR/IR account credit

A GR/IR (which is Goods receipt/Invoice receipt) is a provision account

which provides for the liability for the purchase. The rates for the

valuation of the material are picked up from the purchase order.

When the invoice is booked in the system through Logistics invoice

verification the entry passed is as follows:-

GR/IR account debit

Vendor credit

How are Tolerances for Invoice verification defined?

The following are instances of tolerances that can be defined for Logistic

Invoice Verification.

c. Small Differences

d. Moving Average Price variances

e. Quantity variances

f. Price variances

Based on the client requirement, the transaction can be “Blocked” or

Posted with a “Warning” in the event of the Tolerances being exceeded.

Tolerances are nothing but the differences between invoice amount and

payment amount or differences between goods receipt amount and

invoice amount which is acceptable to the client.

Can we change the reconciliation account in the vendor master?

Yes. Reconciliation account can be changed in the vendor master

provided that the authority to change has been configured. Normally we

should not change the reconciliation account.

What is the impact on the old balance when the reconciliation

account in the vendor master is changed?

Any change you make to the reconciliation account is prospective and

not retrospective. The old items and balances do not reflect the new

account only the new transactions reflect the account.

There is an advance given by the customer which lies in a special GL

account indicator A. Will this advance amount be considered for

credit check?

It depends on the configuration setting in the special GL indicator A. If

the “Relevant to credit limit” indicator is switched on in the Special GL

indicator A the advances will be relevant for credit check, otherwise it will

not be relevant.

In payment term configuration what are the options available for

setting a default baseline date?

There are 4 options available:-

1) No default

2) Posting date

3) Document date

4) Entry date

What is generally configured in the payment term as a default for

baseline date?

Generally document date is configured in the payment term as a default

for base line date.

How do you configure a special GL indicator for Customer?

You can use an existing special GL indicator ID or create a new one.

After creating a special GL indicator id, update the chart of accounts and

the Reconciliation account. Also as a last step you need to update the

special GL code.

The special GL code should also be marked as a Reconciliation account.

Switch on the relevant for credit limit and commitment warning

indicators in the master record.