SAP FINANCIALS – GENERAL LEDGER – Interview Q’s with A’s
Q.Give some examples of GL accounts that should be posted
automatically through the system and how is this defined in the system. Ans:
Stock and Consumption accounts are instances of GL accounts that should be
automatically posted . In the GL account master record, a check box exists
wherein the automatic posting option is selected called “ Post Automatically
Only”
Q.What is a Account group and where is it used? Ans: An Account
group controls the data that needs to be entered at the time of creation of a
master record. Account groups exist for the definition of a GL account, Vendor
and Customer master. It basically controls the fields which pop up during
master data creation in SAP.
Q.What is a field status group? Ans: Field status groups
control the fields which come up when the user does the transactions. There are
three options for field selection. They are: Display only Suppressed Mandatory
So basically you can have any field either for display only or you can totally
suppress it or make it mandatory. The field status group is stored in the FI GL
Master Record.
Q.What is the purpose of a “Document type” in SAP? Ans: A
Document type is specified at the Header level during transaction entry and
serves the following purposes: · It defines the Number range for documents · It
controls the type of accounts that can be posted to eg Assets, Vendor,
Customer, Normal GL account · Document type to be used for reversal of entries ·
Whether it can be used only for Batch input sessions Document Type is created
for differentiating business transactions. Eg Vendor Invoice, Credit Memo,
Accrual Entries, Customer Invoice. It is a two digit character.
Q.What is a Financial
Statement Version? Ans: A FSV (Financial Statement Version) is a reporting tool
and can be used to depict the manner in which the financial accounts like
Profit and Loss Account and Balance Sheet needs to be extracted from SAP. It is
freely definable and multiple FSV's can be defined for generating the output
for various external agencies like Banks and other Statutory authorities.
Q.How are input and output taxes taken care of in SAP? Ans:
A tax procedure is defined for each country and tax codes are defined within
this. There is flexibility to either expense out the Tax amounts or Capitalize
the same to Stocks.
Q.What are Validations and Substitutions?
Ans:Validations/Substitutions in SAP are defined for each functional area e.g.
FI-GL, Assets, Controlling etc at the following levels 1. Document level 2.
Line item level These need to be specifically activated and setting them up are
complex and done only when it is really needed. Often help of the technical
team is taken to do that.
Q.Is it possible to
maintain plant wise different GL codes? Ans: Yes. To be able to do so the
valuation group code should be activated. The valuation grouping code is
maintained per plant and is configured in the MM module. Account codes should
be maintained per valuation grouping code after doing this configuration.
Q.Is Business area at
company code Level? Ans: No. Business area is at client level. What this means
is that other company codes can also post to the same business area. Q.What are
the different scenarios under which a Business Area or a Profit Center may be
defined? Ans: This question is usually very disputable. But both Business Areas
and Profit centers are created for internal reporting. Each has its own pros
and cons but many companies nowadays go for Profit center as there is a feeling
that business area enhancements would not be supported by SAP in future
versions.There are typical month end procedures which need to be executed for
both of them and many times reconciliation might become a big issue. A typical
challenge in both of them is in cases where you do not know the Business Area
or Profit Center of the transaction at the time of posting.
Q.What are the problems faced when a Business area is
configured? Ans: The problem of splitting of account balance is more pertinent
in case of tax accounts.
Q.Is it possible to
default certain values for particular fields? For e.g.company code. Ans: Yes it
is possible to default values for certain fields where a parameter id is
present. Step 1 Go to the input field to which you want to make defaults. Step
2 Press F1, then click technical info push button. This would open a window
that displays the corresponding parameter id (if one has been allocated to the
field) in the field data section. Step 3 Enter this parameter id using the
following path on SAP Easy access screen System à User profile à Own data. Step
4 Click on parameter tab. Enter the parameter id code and enter the value you
want as default. Save the user settings.
Q.Which is the
default exchange rate type which is picked up for all SAP transactions? Ans:
The default exchange rate type picked up for all SAP transactions is M (average
rate)
Q.Is it possible to configure the system to pick up a
different exchange rate type for a particular transaction?
Ans: Yes it is possible. In the document type definition of
GL, you need to attach a different exchange rate type.
Q.What are the master
data pre-requisites for document clearing? Ans: The Gl Account must be managed
as an „open item management‟ . This checkbox is there in the General Ledger
Master Record called Open Item Management. It helps you to manage your accounts
in terms of cleared and uncleared items. A typical example would be GR/IR
Account in SAP (Goods Received/Invoice Received Account)
Q.Explain the importance of the GR/IR clearing account. Ans:
GR/IR is an interim account. In the legacy system of a client if the goods are
received and the invoice is not received the provision is made for the same. In
SAP at the Goods receipt stage the system passes an accounting entry debiting the
Inventory and crediting the GR/IR Account .Subsequently when an invoice is recd
this GR/IR account is debited and the Vendor account is credited. That way till
the time that the invoice is not received the GR/IR is shown as uncleared
items. Q.How many numbers of line items in one single entry you can have? Ans:
The number of line items in one document you can accommodate is 999 lines.
Q. A Finance Document
usually has an assignment field. This field automatically gets populated during
data entry. Where does it get its value? Ans: This value comes from the Sort
key entered in the Gl master record.
Q.How do you maintain
the number range in Production environment? Do you directly create it in the
Production box or do you do it by means of transport? Ans: Number range is to
be created in the production client. You can transport it also by way of
request but creating in the production client is more advisable.
Q.In customizing
“company code productive “means what? What does it denote? Once the company
code is live(real time transactions have started) this check box helps prevents
deletion of many programs accidentally. This check box is activated just before
go live.
Q.What is done by GR/IR regrouping program? Ans: The balance
in a GR/IR account is basically because of 2 main types of transactions:- Goods
delivered but invoice not received – Here the Goods receipt is made but no
invoice has yet been received from the vendor. In such a scenario GR/IR account
will have a credit balance. Invoiced received but goods not delivered – Here
the Invoice is received from the vendor and accounted for, but goods have not
been received. In such a scenario GR/IR account will have a debit balance.The
GR/IR account would contain the net value of the above two types of transactions.
The GR/IR regrouping program analyses the above transactions and regroups them
to the correct adjustment account. The balance on account of first transactions
will be regrouped to another liability account and the balance on account of
second transactions will be regrouped to an asset account.
Q.What are the functionalities available in the financial
statement version? Ans: In the financial statement version the most important
functionality available is the debit credit shift. This is more important in case
of Bank overdraft accounts which can have a debit balance or a credit
balance. Thus in case of a debit balance you would require
the overdraft account to be shown on the Asset side. In case of credit balance
you would require the account to be shown on the Liability side.
Q.Is it possible to
print the financial statement version on a SAPscript form? Ans: Yes. It is
possible to print the financial statement version on a SAPscript form.
Q.How do you configure the SAPscript form financial
statement version? Ans: It is possible to generate a form from the financial
statement version and print the financial statements on a SAPscript form. In
the customizing for financial statement version select the FSV you created and
choose Goto à Generate form à One column or Two column form.You can also copy
form from the standard system.
Q.Is it possible to
generate a financial statement form automatically? Ans: Yes. It is possible to
generate a form automatically.
Q.Is it possible to
keep the FI posting period open only for certain GL codes? Ans: Yes. It is
possible to keep open the FI posting period only for certain GL codes.
Q.How do you keep the FI posting period open only for
certain GL codes? Ans: In transaction code OB52 click on new entries and
maintain an interval or a single GL code for the account type S with the
posting period variant. If the GL codes are not in sequence then you need to
maintain further entries for the posting period variant and account type S.
Q. Can posting period variant be assigned to more than 1
company code? Ans: Yes. Posting period variant can be assigned to more than one
company code.
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