Accounts Receivable and Accounts
Payable
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.
