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What is Group Account Number in SAP FICO?
The Group account number is Appears only with the Group of Chart of Accounts Assigned in the Operational COA. Otherwise, this filed will hidden. The Group G L Account is Used for Consolidation Purpose. This Filed is Main Link between the Primary G L Accounts and Group g l Accounts. Group G L Accounts Collect Data from Primary g l Accounts.
What Only Balance in Local Currencies in SAP FICO?
This Indicator is More Relevant to the Balance Sheet Accounts If the Indicator is Activated Then the G l Account Balance Always Displayed In Local or Company Code Currency .it won’t Generate The Exchange Rates Differences During the Clearing of The Transactions. ” Only Balance in Local Currency” indicator need to be selected Mandatory for the GR/IR Account, Cash Discount Accounts.
What is Alternative Account Number SAP FICO?
Alternative Account Number Can Be Called as Country Specify G L Account. In This Case the County Specify G L Account is Activated then need to Assign in the Alternative Account in The Creation of General Ledger Master Data.
What Line- Item Display in SAP FICO?
The Purpose of Ebeling Line- Item Display in G l Master Data Creation time We Can Able View the Transactions Line-Item Wise for the Specific G l Account.We Can Select Line-item Display for All Type of the G L Accounts.
What is Partial Payment & Residual Payment in SAP FICO?
Partial Payment –
In Partial Payment method both Invoice Amount and Payment Amount Documents it will show as an Open item Until settle the full payment.
Example: –
Invoice Generated with -10,000/-
But we Paid Payment Against invoice amount with Partial Payment-4,000/- Now system shows both invoice amount10,000/- and paid amount 4,000/- as an open item
Residual Payment
In Residual Payment Method System Show the Only After Part of Payment Made with Residual Payment the Remaining Balance System Show as an Open item. And this Remaining Balance Generated as New Invoice
Example
Invoice Amount -10,000/-
We Paid Part of Payment with Residual Payment -4,000 System shows the remaining 6,000/- as an open item and Generated as New Invoice.
What Is Bank key in SAP FICO?
Bank Keys are always Defined at County Level, Bank Key Represents the Bank Branch in the system, Bank Key required to process the Bank transfer and also for automatic payment process.
USAGE OF DOCUMENT TYPE AND IT CONTRLOLLS?
1.Document types are defined at the client level so document types are applied for all company codes. A Document type is specified at the Header level during transaction entry and servers the following purposes:
2.Document type key is used to classify the type of accounting documents and allow to posting of transactions In sap system.
3.It controls Account types allowed for postings e.g. Assets, vendor, Customer, Normal G l Account
4.Document type that to be used for reversal postings.
Table to Check All OBYC G L Accounts in SAP FICO?
Go to SE16N And Enter T030
What is Business Area in SAP FICO
An Organizational Unit of Financial Accounting that Represents Separate area of Operations or Responsibilities within an organization and You Can create Financial Statements for business areas, and use this statement for various internal reporting purpose.
What is Functional Area In SAP FICO?
The Functional Area is Required to create a profit & lose accounts in Financial Accounting using cost of sales accounting. In sap functional areas are Manufacturing, Administration, Sales Department, Purchase Dep, R&D Dep.
What is Types of Posting Keys In SAP FICO?
General Ledger -40-Debit ,50-Credit
Vendors -31-Invoice Credit ,25-Outgoing Payment Debit ,39-Spl G l Credit
Customers -01-Invoice -Debit ,15-Incoimg Payment -Credit ,09-SPL GL Debit
Asset Accounting -70-Asset Debit ,75-Asset Credit
What is Difference Between Business area and Profit Center?
Business Area Is an Optional Entry, whenever Company Wants Financial Statements Business area wise, we can maintain Business areas in SAP. And also, we can Maintain Business as segment wise, geographical location wise.
Profit center Is Used to Know the profit of Companies. Profit center is also used for to know the profit as product wise, segment wise, geographical location wise.
How Part of Payment will be done in APP Is it Possible.
Yes, If You Use Instalment Payment terms, this will split the total invoice to multiple due dates which app picks periodically.
What is T. code of Material Valuation type, Class and Group.
1.Valuation Class is Maintain in accounting view 1 Tab in material master Data
MM01
2.Valuation area is Defined at Plant level or Company Code Level
3.Valuation Grouping Code Is A club of Valuation area, Company Code and Chart
of Accounts OMWD4.In OBYC, we Maintain Valuation Grouping Code, Valuation Area, Account
Modifier and G L Accounts.
I Have total 10 Invoices for a customer but I want to send only 5 invoices
If You Want to make only 5 invoices out of 10 invoices. then You Need to block the Remaining 5 invoices which you don’t want to send and make payment.
Where do you assign cost element in company code
We Can assign cost elements In Fs00 and KA01 Also. Primary Cost Elements Can Create at FI And Controlling level. but Secondary Cost Elements Can Create at Controlling Level only. for primary cost elements creation G L Ac is Must
What is Payment Advice in Terms of Automatic Payment Program?
Payment advice is the document which is sent to vendor mentoring about details of Clearing Document such as amount date etc. it sent by email.
A customer has more than one bank account configured. However, he specifies that all purchases of stationery should be paid through a particular bank account only. How can this arrangement be made?
The ‘Bank Type’ field in the customer master data can be specified against the particular bank account. This value has to be supplied in the line item when entering stationery purchases
What is the steps involved in configuration Electronics Bank statement?
1.Define Account Symbols
2.Assign Accounts to Accounts Symbols
3.Craete Keys for Posting Rules
4.Define Posting Rules5.Create Transactions Types
6.Assign Transaction types to posting rules
7.Assign Banks to Transaction types
What is Business Transactions in Cash Journals
Business transaction Represents Any Transaction posted in Cash Journals.
Example of Business Transaction Types In Cash Journal
1.B-Cash Transfer to Bank
2.C-Cash Transfer from Bank
3.E-Expernce
4.R-Revenue
5.K-Vendor outgoing payment
6.D-Customer Incoming Payment
What is The Different Type of COA In SAP FICO?
Chart of Accounts Nothing but Its List of General Ledger Accounts. In sap 3 Types Of Chart of Accounts ..1.Operational COA 2. Country Specify COA 3. Group Of COA
Operational COA: –Operational COA are used to Record All Business Transitions In General Ledgers day to day postings
Country Specify COA:- Country Specify COA Used to fulfill Legal Requirement of a particular County
Group Of COA: – Group of Chart of Accounts Are used by the Entire Corporate Group & Consolidation Report purpose.
What is the main Use of SAP FI-CO?
We use sap fico modules within a company to manage financial tasks within an international framework of multiple languages and currencies.
Sap fi used for fixed assets, tax accounting, general ledger, accounts payable, Accounts Receivables
Sap co used for cost sheet, internal orders, cost assignments
What Is Accounts payables?
Accounts Payable is any sum of money owed by a business to its suppliers shown as liability on a company balance sheet .in simple words when you buy goods or services with an agreement to pay sundry creditor, such amount till paid is referred to as accounts payable.
What is Vendor Account Group?
Vendor Account Group is to bifurcate the vendors like Fi Vendors, MM Vendors, Domestic vendor, Foreign Vendors.
What are steps to Create for Creating Vendor?
a) Account Groups for vendors -OBD3
b) Create Number Ranges for Vendor Groups -XKN1
c) Assign Number Ranges for Vendor Groups -OBAS
d) Document Types for Vendor Accounts -OBA7
e) Number Ranges for Document Types -FBN1
f) Create G l Accounts (Reconciliation, Inventory G L) -FS00
g) Create Vendor Master Record -XK01, FK01, MK01
What Is a Special G l Transactions?
Special G L Transactions are transactions that are not normal business transactions with our business partners. they generally shown in different control ledgers and it not grouped with normal transactions. Example Down payments.
What is the impact on the old balance when the reconciliation account in the vendor master is changed?
Any Changes You Make to the reconciliation account is prospective & not retrospective. the old items and balance do not reflect the new account. only new transactions reflect the account.
What do you mean by Down Payment?
Down payment is used for short or medium financing. down payments are generally made before production. down payments must be displayed separately in the balance sheet.
What are Terms of Payment?
Terms of payment nothing but Determine Base line Date for Due date of Invoice.
Terms of Payment Determine Which Date from Payment Term Applied and
Calculating Cash Discount Periods and Cash Discount Percentages
In Payment Terms Consist of *. No Default * Posting Date * Document Date
*Entry Date
*Posting Date: – Goods Receipt Date
- Document Date: – Party bill Date
- Entry Date: – Quality Approved Date
There is Two Company Code with a Common Tax Code. Can it Possible to define Different G L Accounts with single tax code & the chart of accounts is same for both Company codes?
Tax Code Is Always Been Define Country Level Only. for Single Tax Code We Cannot Define Two Different G L Accounts .at the time of Defining only it will show the error of Duplicate entry.
tell me Something About Parallel Currency in SAP?
Each Company Code Have 3 Types of Currencies there are Local Currency and Parallel Currencies. It Parallel Currencies are Called Group Currency and Hard Currency ..Parallel Currencies can be used in the transactions made at International Level By Organization .
What are the Biggest Benefits that you can have with SAP FICO?
There are Certain Major benefits
- A lot of Money and Time Can be saved
- There is No Upper Limit on Handling the Accounts. Any Number of accounts can
be managed - One Of the Major Benefit Is Accounting Data is Always Correct. The User Doesn’t
Need Worry about this
What is Credit Control Area in SAP FICO?
In SAP Provided Credit Control Area to Avoid the Risk of Bad Debts and Multiple Outstanding Receivables from You Customers, You Can Set Credit Limit for Your Customers by Using Credit Control area. You Can Block the delivers to you customer based on the Credit Limit Credit Control area in SAP Enable Organization to Impose Strict Upper Limit on the Credit for the Customers… We will Define Credit Control Area by Using T Code OB45 …in that time we will fill the fields like, Credit Control Area Key, Description currency, risk category credit limit, Fiscal Year variant also be provided.
What is SAP FI-MM Integration?
SAP FI-MM Integration are Under Chart of Accounts Level. SAP Will Integrated with Other Modules .in SAP FI-MM integration Data Flow SAP MM to SAP FI Module. at the time of Data will Triggers Automatic postings in SAP FI Module
What is a Purchase Requisition (PR)
A Purchase Requisition is The Document that outlines Company’s Purchasing Needs of a Material or Service from Vendors .PR Typically an Internal Document that can be created by MM team automatically or manually. Purchase Department need any material or Service they will send this PR Request for Quotation.
What is Purchase Order (PO)
A purchase order is Legal Contract Between a Vendor and Buyer. the Material or Service to be purchased on certain terms & Conditions. the order mention Along with Quantity of Material, Price per unit, payment information, Delivered related conditions.
How do you go about settings the FI-MM Account Determination?
FI-MM Integration settings are maintained in OBYC Transaction code. Within these are various transactions keys to be maintained like BSK, WRX, GBB, PRD…Each transaction keys assigned with specify G L Accounts for automatic postings at the time of entry posting
- BSK – inventory Postings
- WRX – GR/IR Clearing Account
- GBB – Goods Issue to productions
- PRD – Price Differences
What is Valuation and Account Assignment in SAP?
This is Actually the Link Between Material Master and Finance. The Valuation in SAP Can be at the Plant level or company code level. if you define Valuation at the plant level then you can have different prices for the same material in the various plants. if you keep it at the company code level you can have the only prices. across all plants
What is Valuation Class?
The Valuation Calss in Accounting 1 View in Material Master is the main link between material master and finance. This valuation class along with Combination of the Transaction keys like BSX, WRX. This Transaction keys assigned to particular General Ledger We can group together different materials with valuations class like Raw Material Finished Goods, Semi Finished Goods Materials with different material types are assigned to a single valuation class.
Can we Change the Valuation Class in the Material Master Record?
Yes, We Can Change it only if the Stock for that material is nil. if the stock Exists for that material, then we Cannot Change the Valuation Class. if the stock exists, we have to Transfer the Stocks or issues the stock nil for the specific valuation class. then only we will able to change the valuation class.
What is the benefit of implementing SAP?
The Benefits of implementing SAP
- Efficient use of Resources
It helps to formulating effective plan for the organization - It provides the best industry solutions
Tell me About Development Environment
The Development Environment is an environment where most of the
implementation work Of SAP Take Place. it is divided in to three parts
- SANDBOX
- CONFIGURATION
- DEVELOPMENT TESTING
What is the Important of GR/IR Clearing Account?
*GR/IR is interim account .in the legacy system, if the Goods are Received and
Invoice Not Received, The Provision is Made, in SAP at the goods receipt.it Passes
*Accounting Entry Debiting the Inventory and Crediting the GR/IR Accounting.
*When Invoice is Received the GR/IR Account is Debited
Vendor Account is Credited, and
*GR/IR Clearing Accounting, Mian Purpose Matching the Debits and Credits
Inventory ac –Dr GR/IR —DR
TO VENDOR –CR To GR/IR Ac –Cr
What is IBAN Number in SAP? What does it work?
IBAN stands for “International bank account number” while creating bank accounts in FICO we can use this. Most of the time IBAN is used for foreign currency payments time.
How can we block, a particular payment term for a particular vendor?
We have Two Methods for Vendor Block in APP
- Vendor Creation: Block under Automatic Payment Transaction
2.APP Run: Edit Proposal Button in APP.
I run my app and I printed my check and after that I find that I made a mistake of wrong payment to related vendor…. now what can I do…. can I stop app.. And can I stop payment and can I delete proposal and payment in app???? And can I run new app towards new vendor
You will not be able to delete proposal after payment run. If you want to delete proposal then,
First you have to manually reset & reverse the posting generated FBRA. Second, You have to delete payment run from EDIT > PAYMENT > DELETE OUTPUT.
Third and then you will be able to delete proposal EDIT > PROPOSAL > DELETE.
I have two companies one is parent company & another sister company. Both companies have same vendors & customers. Can I assign dunning procedure for both companies?
You have to assign a dunning procedure separately for each customer and vendor in their respective master record in company code level And then select company codes both
parent and sister concern. T hen select customer and vend in parameter maintain.
What is internal number range? What advantages & risk?
if we assign internal num range it picks up automatically like 1,2,3, that of documents numbers
If we assign external num range to system then we can assign any number in between the range. if given 10000 to 199999 we can pick up 100000 num then 100020 100030 100007
like that.
We have a company with 4 branches and one factory. How do you start configuring?
if this is the case first, we need to define a company code in FI(OX02), AND Define business areas as given 4 branches in questionary. Define plant that to be assigned company code.
Can u explain what is the purchase life cycle and with entries?
1.When PO is created:
—- No Entry —–
2. When GR is posted
Inventory Account D.R (Transaction Key BSX in OBYC) To GRIR account (T. Key WRX in T-code OBYC)
3. When Invoice is posted
GRIR account Dr. To Vendor account Cr.
4. Payment made to Vendor
Vendor A/c Dr To Bank Clearing A/c Cr.
What is the t-code to see the error message list in sap?
1 You can see the SAP error message details through SAP transaction code: SE91
2 In SAP FI Module, you can control the SAP error message number through SAP transaction code: OBA5
What are the alternative g/l accounts?
The account number from your legacy system or Account number from a country chart of accounts if your corporate group uses a standard chart of accounts.
What is the entry date, document date, posting date, value date, and next run date?
Entry Date – System Date on which document is entered
Document Date – Date of the supporting document ie PO/ invoice/ Bill date
Posting date – date on which entry is posted to the ledger or accounting date
Value date – the date on which doc is valued. ie for forex valuation the value date is needed for calculating the exchange rate difference
Next run date – this is for payment run. what the next day for calculating the payment due document and discount calculation
How a ticket (run time problem) comes to a junior sap consultant support level)? In which server he solves the ticket (run time problem)?
Tickets will be receiving from Production Server. Solutions should be depending on client service desk. We have to give the answers through emails. If it is configuration change, we have to ask Change Request form from the client. Then we have to do configuration after that it moves to testing server. Once consultant checks if there is no error it will be transported to Quality server, there user has to check and give User Acceptance testing. Then only the requests move to production server.