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2/7/2018 Knowledge Hub: Interview Questions and Answers for SAP General Ledger (FI)

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Interview Questions and Answers for SAP General Ledger (FI)
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1. What is a Document in SAP? Follow 108
Controlling (1) 2. What is a Document Header?
3. What is a Document Type? Blogger, Account
Current affairs (7) Professional.
4. How is Account Type Connected to Document Type?
EPF (1) 5. What do you mean by Net Postings? View my complete
6. Explain the Various Reference methods?
Finance (5)
7. What is the Document Change Rule?
Finance(FI) (3) 8. Differentiate between Account Assignment Model, Recurring Entries and Sample Document? Followers
9. What is a Line Item?
Genral (22) Followers (28) Next
10. What is a Posting Key?
Interview Questions (65) 11. Differentiate between the Parking and the Holding of Documents?
12. What is an Automatic Posting?
SAP (99) 13. What is clearing?
14. Explain Reversal of Documents in SAP?
15. What is Fast Entry?
Total Pageviews 16. How do You Create GL Account Master Data?
17. What is Collective Processing of GL Accounts?
18. What is Individual Processing of GL Accounts?
3 5 9 0 1 1 19. Is it Possible to Change an Existing B/S GL A/C to the P&L Type?
20. Why doesn’t the System allow you to Change the Tax Category in a Version?
21. How do You Perform Annual Closing in SAP? Follow
Popular Posts 22. Explain Managerial Closing?
Interview 23. What is the New FI-GL in FI in ECC?
Questions 24. Explain Cash Management in SAP? Google+ Followers
and 25. What is the Cash Management?
Answers Veeru Vemula
26. Explain Bank Statement in Cash Management?
for SAP
Asset Accounting (AA) 27. What are the Configurations for Bank Statement Processing? Add to circles
1. What is Asset 28. Differentiate Manual Check Deposit from Electronic Check Deposit?
Accounting (FI-AA)? 2.
What is a Lean
Implementation in FI-
AA? 3. What are the
kinds of Assets...

Interview Questions and


Answers for SAP 1. What is a Document in SAP?
General Ledger (FI)
1. What is a SAP is based on the document principle meaning that a document is created out of every business transaction in the
Document in SAP? 2. system. The Document is the result of a posting in accounting in SAP, and is the connecting link between various
What is a Document business operations. There are two types of documents:
Header? 3. What is a 108 have me in circle
Document Type? 4.
How is Account T... 1. Original Documents: these documents relate to the origin of business transactions such as invoices, receipts,
statement of accounts from bank, etc.
Interview Questions and
Answers for SAP 2. Processing Documents: These include accounting documents generated from postings in the system, reference Follow by Email
Accounts payable documents, sample documents, etc.
1. Explain the Email address...
‘Account Payables’ Sub The processing documents other than the accounting ones are also known as special
module? 2. What documents and they aid in the simplification of document entry in the system.
Documents Result from
‘Procurement Blog Archive
Processes’? 3. Every document consists of:
Describe... A Document Header
► 2016 (2)
Two or more Line Items
Interview Questions and ▼ 2014 (245)
Answers for SAP Before attempting to enter a document, call up the relevant document entry function as the system provides a variety ► December (1
Accounts Receivable of ready-made document entry templates suited to different transactions such as regular GL entry, customer invoice
1. Explain posting, etc. The details entered in a document can be simulated and displayed before the document is actually ▼ November (7
‘Customer/Vendor posted in the system. You may also choose to park the document and post it later. Interview Que
Master Records? 2. and Answe
Who is an ‘Alternate SAP Gener
Payee’? 3. What is Le...
the ‘Trading Partner’ 2. What is a Document Header?
con... Interview Que
and Answe

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2/7/2018 Knowledge Hub: Interview Questions and Answers for SAP General Ledger (FI)
The Document Header contains information that is valid for the whole document such as: SAP Financ
F110
Payment Document Date
Interview Que
run Document Type (Control Information)
and Answe
_check_ Document Number SAP Contro
Posting Date
Functionality The Posting Period Interview Que
Accounts Payable and Answe
Company Code
personnel will prepare a SAP FI G/L
payment proposal in Mas...
Besides the above, the document header also has information (editable, later on) such as
SAP, edit it and take out Interview Que
(a) Trading partner,
a hard copy pri... and Answe
(b) document header text,
(c) reference, SAP Projec
F-03 GL
Manual (d) cross-Company Code number, etc. Interview Que
Account and Answe
Clearing SAP ABAP
F-03 - GL B...
3. What is a Document Type?
Manual Account 10 things you
Clearing Functionality
SAP comes delivered with a number of Document Types, which are used in various postings. The document type about india
This function allows you
helps to classify an accounting transaction within the system, and is used to control the entire transaction and currency
to clear open items on
the GL account. ... determine the account types a particular document type can post to. Know about 1
Rupees not
Interview Questions and For example, the document type AB allows you to post to all the accounts, whereas type DZ allows you to post only
Answers for SAP Project Know about 5
the customer payments. Every document type is assigned a number range.
implementation Rupee note
1. What is ‘ASAP’? 2. Know about 1
The common document types include:
Explain ‘ASAP Rupee note
Roadmap’ Phases? 3.
List the Tools for the AA --- Asset posting Know about 5
‘Project Preparation KG --- Vendor credit memo Rupee note
Phase’ of ‘ASAP? ... AB ---Accounting document
Know About 2
KN --- Net vendors
Rupee note
FBR2 AF --- Depreciation postings
Posting KR --- Vendor invoice Know about 1
with Rupee note
DG --- Customer credit memo
Reference
KZ --- Vendor payment Interview Que
Document
DR --- Customer invoice and Answe
FBR2 - Posting with
Reference Document KG --- Vendor credit memo SAP Accou
Functionality This DZ --- Customer payment p...
function allows you to SA --- GL account document
Interview Que
post a new accounting X1 --- Recurring entry doc. and Answe
documen... X2 ---Sample document SAP Basics
F-04 GL Interview Que
Account and Answe
clearing 4. How is Account Type Connected to Document Type? SAP Mater
F-04 - GL
Interview Que
Account The Document Type is characterized by a 2-character code such as AA, DG, etc., whereas an Account Type is
and Answe
Clearing Functionality denoted by a 1-character code such as A, D, etc., specifying which accounts a particular document can be posted to. SAP Sales
SAP System offers the The common account types include:
following methods to A Assets Interview Que
clear accounts with open and Answe
D Customer (Debtor)
item ... SAP Produ
K Vendor (Creditor)
F.05 - M Materials Interview Que
Foreign S GL and Answe
Currency SAP Sales
Valuation Interview Que
F.05 - 5. What do you mean by Net Postings? and Answe
Foreign Currency SAP Produ
Valuation Functionality In
order to create your Usually, when a transaction is posted, for example, a vendor invoice (document type: KR), the system posts the Interview Que
financial statements, you Gross amount with the tax and discount included. However, SAP provides you the option of posting these items as and Answe
have to carry ou... Net. In this case, the posting excludes tax or discounts. Remember to use the special document type KN. (Similarly, SAP Accou
you will use the document type DN for customer invoice-Net compared to the normal invoice postings for the R...
customer using the document type DR.) For using this net method of posting you should have activated the required Interview Que
settings in the customization. and Answe
SAP Asset
Acco...
6. Explain the Various Reference Methods? Interview Que
and Answe
SAP recommends Reference Methods as a document entry tool to facilitate faster and easier document entry into the SAP Accou
system, when you are required to enter the same data time and again. Besides making the document entry process p...
less time-consuming, this also helps in error-free document entry. Interview Que
The various Reference Methods used in SAP include: and Answe
1. Reference Documents SAP Basics
2. Account Assignment Models
What is a ‘No
3. Sample Documents Item’?
. Differentiate
Offsetting E
7. What is the Document Change Rule? from a Sta.

The functionality Document Change Rules configured in the system maintains the information relating to what fields What are ‘Spe
GL
can be changed? and under what circumstances?. As you are already aware, SAPs document principle does not
Transaction

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2/7/2018 Knowledge Hub: Interview Questions and Answers for SAP General Ledger (FI)
allow changing the relevant fields once a document is posted; any changes can only be achieved through Reversal or What is a ‘Cre
additional postings. Fields such as company code, business area, account number, posting key, amount, currency, Memo’?
etc., can never be changed once the document is posted. However, SAP allows changing some of the fields in the
What is the
line items such as payment method, payment block, house bank, dunning level, dunning block, etc. These can be
‘Account
changed document by document or by using mass change for a number of documents in a single step. The changes Assignmen
to master data are tracked and stored per user for an audit trail. Category’?
How do You
8. Differentiate between Account Assignment Model, Recurring entries, and Release ‘B
Sample Document? Invoices for
Payments’.
Account Assignment Model is a reference method used in document entry when the same distribution of amounts to What is a ‘Pay
several Company Codes, cost centers, accounts, etc., is frequently used. Instead of manually distributing the amount Block’?
among accounts or Company Codes, you may use equivalence numbers for distributing both the credit and debit
Can You Pay
amounts. A cross-Company Code account assignment model can also be created. Vendor in a
The account assignment model may contain any number of GL accounts. The GL account items need not be Currency O
complete. The model can be used across several Company Codes, and can even include Company Codes from non- than the ...
SAP systems.
How do You
You can use the account assignment model while parking a document (but you cannot use a reference document
Execute an
for parking). ‘Automatic
The use of account assignment models is limited to GL accounts. Payment
Unlike a Sample Document, an account assignment model may be incomplete and can be completed during Program’?.
document entry by adding or deleting or changing the data already saved in the model. The Recurring Entry original
Explain ‘Autom
document is used by the system as a reference document for enabling posting of periodically recurring postings such
Payment
as loan repayments, insurance premium payments, rent, etc. Since this document is not an accounting document, the
Program’
account balances are not affected. In a recurring entry original document, you will not be able to change the Configurati
(a) posting key,
(b) account, Explain Autom
Payment
(c) amount.
Program?
The recurring entry documents are defined with a special number range (X1). Unlike an account assignment model,
these documents cannot be used for cross-Company Code postings. Outline ‘Vend
Payments’
The recurring entry document does not update transaction figures, per se, but acts only as a reference and as the SAP System
basis for creating accounting documents. The SAP program SAPF120 creates the accounting documents from the What ‘Varianc
recurring entry original document. There are two ways to set the exact date when this document should be posted to: You come A
Posting frequency: enter the day of the month and the period (in months) between two postings. in Invoice V
Scheduled run: configure the run schedule specifying the calendar days on which the
How do You D
program should post these documents.
with ‘Tax’ w
You Post a
A Sample Document is like a template, which is created and stored so that the information contained therein can be Invoic...
easily copied into new documents and posted in the system. But once a sample document is created note that you
Explain ‘Invoi
will not be able to change the line items already contained in that document; all you can do is change the amounts in
Verification
that sample document. But you can overcome this by defining a new sample document that can contain other line
in SAP?
items or you may add new line items to the FI document, which is created by copying from the original sample
document. Sample documents have separate number ranges (X2). What Happen
SAP, when
Post a ‘Goo
9. What is a Line Item? Recei...
Explain FI-MM
The Line Items contain information relating to account number, amount, debit/ credit, tax code, amount, etc. SAP
Integration?
allows a maximum of 999 line items in a single document. Besides the one entered by you during an document entry,
the system may also create its own line items called system generated line items, such as tax deductions, etc. . Will the FI
Irrespective of the number of line items entered, ensure that the total of these is always zero (that is, total debits Document
should equal total credits). Otherwise, the system will not allow you to post the document. Created wit
Purchas...
What is a ‘PO
10. What is a Posting Key? History’?
What is a ‘Pu
A Posting Key in SAP is a 2-digit alphanumeric key that controls the entry of line items. SAP comes with many Order’ (PO
posting keys for meeting the different business transaction requirements:
What is a
40 (GL debit), ‘Quotation?
50 (GL credit),
01 (customer invoice), What is a
11 (customer credit memo), ‘Scheduling
Agreement
21 (vendor credit memo),
31 (vendor payment), etc. What is a ‘Re
Order’?
The posting key determines:
What is a
1. What account can be posted to ‘Contract’?
2. Which side of the account (debit or credit) to be posted to, and
3. What layout screen needs to be used for that particular transaction. What is an ‘O
It is a normal practice not to change any of the default posting keys in the system, as you would very rarely require Agreement
additional posting keys. What is a ‘Re
for Quotatio
(RFQ)?
11. Differentiate between the Parking and the Holding of Documents? What is a ‘Pu
Requisition
The Parking of a Document in SAP is one of the two preliminary postings (the other being the Holding of documents) (PR)?
in the system and refers to the storing of incomplete documents in the system. These documents can later be called . Describe a
on for completion and posting. While parking a document, the system does not carry out the mandatory validity ‘Purchase C
checking. The system does not also carry out any automatic postings (such as creating tax line items) or balance

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2/7/2018 Knowledge Hub: Interview Questions and Answers for SAP General Ledger (FI)
checks. As a result, the transaction figures (account balances) are not updated. This is true in the case of all financial What Docume
transactions except in the area of TR-CM (Cash management) where parked documents will update the transactions. Result from
‘Procureme
The parking of documents can be used to park data Processes’
. Explain the
Print PDF ‘Account
Payables’ S
module?
Posted by Veeru Vemula at 01:06
What is ‘SAP
Labels: Finance(FI), Interview Questions, SAP Business O
What is an ‘SA
Solution Ma
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