interview questions sap fico module(2010)imp 4

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.                 *-- Shaannthi S.

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?

Only two.                       *-- Sameem, Rukshana / Surya / Rashid Hakeem / Lokaray Sreekanth

1. Where to assign activity type in cost centers?  OR how to link cost centers & activity types?

>> There is no direct assignment.  You plan the output for a cost center first in kp26.   Then you've to plan the value of that cost center which you budget for a period in kp06.   Planned Activity expenditure / Planned Actvty qty gives yoa planned act rate which you can use to valuate your activity confirmations in mfg ordrs.   You can also define your own prices,but you have to run the price revaluation if you want to revaluate your actual activity prices.

2. For stat. key figure what is the significance of sender & receiver cost elements & cost centers?

>> Stat key fig are not real account assignments.  In simple traditionl terms it is the base to allocate or define praportions with which the cost is allocated.  SKFs are used to calculate the debit on a receiver object.  These values can be used for assessing common costs which are used by all the other cost centers.

3.  How SKF works .. Kindly give me T Codes Also.

>> You create & plan SKF.

Create using KK01 & PLAN the parameters of SKF in KP46

SAP Tips by: Dhiraj

1. Does any one know what is Software life cycle, it was a question asked in an interview.

2. In GL master we have a option "Balance in local currency" and "Account currency".  What does it mean?

3. In movement type(MM),  what is value & quantity string I know it updates values and quantities in GL with mix of valuvation class, transaction key modifier and GL A/c.  But how does it work when doing a mvt type?

4. In FI when doing Special GL transaction what determines the fields statues of the screen and why do we have so many screens followed by it.  Is it determined by Posting Keys? is it to determine Account type for which we are using the Special GL and debit and credit?

Q: Software Life Cycle,

Ans: it is nothing but Road Map - five phases  like, Project Preparation, Blue print, Realisation, Final preparation and Go-live support.

Q:  In GL master we have a option "Balance in local currency" and "Account currency".What does it mean?

Ans: Account currency is that the GL account in which currency do you want to maintain. if you decided that you want maintain in company code currency, you can post any currency in that account.

If not, you want to maintain separate currency for that GL then exchange rate difference will come because the conversion rate.

Balance in local currency - some GL account can't be maintain on open item basis and can't in foreign currency like clearing account and discount account etc., in such case you can assign this indicator to show the balance in local currency.

Q. In movement type(MM), what is value & quantity string I know it updates values and quantities in GL with mix of valuvation class, transaction key modifier and GL A/c. But how does it work when doing a mvt type?

Ans: Basically, the system does not know which GL has to be updated with what. here, we are giving a direction to the system to update the data.

What you said is correct, the system will update the value and qty in the material master.  You would have seen some more fields also, like Movement indicator, consumption, value string and transaction event key etc.,

While creating a PO, the system will take the Movement type as a base, with MT, it will identify the MI(movement indicator - used to define whether it is goods movement for production order, purchase order, delivery note etc), and it will identify the consumption,( like it is assets, or consumption or sales order) and it will identify the value string ( it is must to assigned to movement type, through allocation of value string to movement type, system will automatically identify the GL ) and it will post the entry (dr/cr)in the GL based on the transaction and event key figure which is used to determine the debit and credit entry of a GL

SAP Tips by: Elangovan

4.  In Field Status Group there are options like Suppress, optional, Required,  Display. So that it is followed by so many screens and it is determined by posting key. Its both debit (or) (Both) credit.

SAP Tips by: Bharath