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SAP Company Financial Interview Questions & Answers - Learning Mode

SAP Company Financial Interview Questions & Answers - Learning Mode

SAP Financial Database provides a framework for managing your control, reporting, and compliance data and all related applications. SAP ERP is enterprise resource planning software developed by the German company SAP SE. SAP ERP incorporates the key business functions of an organization. The latest version (SAP ERP 6.0) was made available in 2006. The most recent Enhancement Package (EHP8) for SAP ERP 6.0 was released in 2016.

Try SAP Company Financial Interview Questions & Answers - Exam Mode

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SAP Company Financial Interview Questions & Answers - Learning Mode
Try SAP Company Financial Interview Questions & Answers - Exam Mode
Question: What is open line item management? What do you mean by clearing open line items?

Answer: 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. Source:
Question: Suppose I have purchased goods of 10 units(raw materials or semi-finished goods) worth Rs10000 from vendor A (suppose) and also made payment for the same. Now during the manufacturing process, it was observed that 3 units are defective, now my question is how do we deal with the defective units in SAP as I have already made payment for the 10 units(i.e Rs10000).

Answer: If you have a GRN against these materials, then the same can be return delivered. An appropriate movement type needs to be configured for the same. As for the payment, raise a credit note on the vendor. Source:
Question: Which Master data uploads will be done?

Answer: 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. Source:
Question: Can one COA be assigned to several companies?

Answer: yes. One COA can be assigned to several companies. Source:
Question: What do you enter in Company code Global settings?

Answer: 4 digit Alphanumeric key.
Name of the company
Address Source:
Question: How do you reverse cleared documents?

Answer: By doing reversal posting. Source:
Question: How many chart of accounts can be assigned to company code we can assign company code to chart of account through OB62? Now my question is in what way we can assign three types of chart of account to company code in one transaction code (I might be wrong plz correct me)

Answer: Three, although the group and country chart of accounts are optional. The group chart of accounts is assigned to the
operational chart of accounts, and the only mandatory CoA is the Operational CoA. Source:
Question: What is reconciliation account; can you directly enter documents in that a/c?

Answer: 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. Source:
Question: What is Country and operational chart of account? Why do you use group chart of account?

Answer: 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. Source:
Question: While posting transaction, can we give cost centre / production order at time.

Answer: 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. Source:
Question: Please tell me the procurement cycle how it works?

Answer: 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. Source:
Question: What does definition of a chart of account contains?

Answer: chart of account key
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator Source:
Question: How many financial statement versions can be assigned to co.code?

Answer: As many FSVs as you want can be assigned to the co code i.e. 1:n as of Co Code: FSV. Source:
Question: What is GR/IR?What journal entries we should pass for this?

Answer: 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 . Source:
Question: What is base line date? Why is that used? Can this be changed?

Answer: For paymentterms it is used. base line date is the due date. Source:
Question: What are adjustment postings and its use? Give and paths if possible?

Answer: fb50,f-02 and others could be used for adjustments. These adjustments are to correct any financial representation that has already been booked into the accounts. Source:
Question: After entering a document can you delete the entry? Can you change the document? Which fields? can/not is changed?

Answer: Document header cannont be changed, after posting the document you cannot change. only if you want to change the document the reseversal entry. Source:
Question: How many Normal and Special periods will be there in fiscal year, why do u use special periods?

Answer: 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. Source:
Question: What is internal and external number ranges?

Answer: 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. Source:
Question: Suppose in 2004 I have depreciation key 'AB&in 2005 depreciation key I have changed to"CD". In what way my balances would be affected like balances of depreciation,accumulated depreciation,assets etc.

Answer: The difference in the depreciation that is posted already, and what should be posted with historical effect will be posted in the current accounting period. Source:

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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
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