SAP FICO Interview Questions and Answers

SAP FICO FAQ

In SAP FICO what does a 'Posting Period' refer to?

SAP is divided into several posting period, in a typical fiscal year, with a definite start and end date and the same is defined specifically for each of these periods. Only when the posting periods are in place that's when in the system any document posting. Generally, there are 12 posting periods. Each posting period comprises of a month and a year.

In SAP FICO what is a 'Special Period'?

SAP permits the defining of a maximum of four more posting periods, which are referred to "Special Periods", as these are utilized for year-end closing activities. All of this is made possible by dividing the last posting period into more than one, but a maximum of four, period. Typically, all the postings in these special periods should be counted in the last posting period. It is not possible to determine the special periods automatically based on the posting date of the document. The special period has to be entered manually in the document header, in the 'posting period' field.

What does APP in SAP Fico refer to?

APP refers to 'Automatic Payment Program' this is a tool provided by SAP to companies for paying the customers and vendors. The APP tools helps in avoiding any mistakes which take place in posting manually. The payment through APP becomes more reasonable and doable when the number of employees is more in the company.

In APP, Can we use check and bank transfer simultaneously to send the payments to vendors?

You have to assign APP payment method to bank & vendor.

What is Back Order?

A customer places an order to a company. If the current stock level is insufficient or the company has no stock then company places a Back-order which simply means that they do not have sufficient stock and they need to order more from the supplier or distributor. Thus back order is an unfilled customer order.

In finance accounting, what is General Ledger?

A General Ledger comprises of all the transaction details listed in a company. This serves as primary record for maintaining all accounting details. Common general ledger entries include purchases from vendors, customer transactions, along with internal company transactions.

What are the component of GL documents?

Company code
Fiscal year
Posting periods
Field status group
Tolerance
Document type

What is TAN number?

TAN number is a tax deduction and collection Account Number which is used for deducting the taxes at source.

Transaction code to know that new General Ledger is activated?

There is no T.code for New G/L and we can activate it through this path Financial a/c-FAGL-Activate New G/L then you can tick mark and activate the New G/L after this configuration you can new changes in configuration path under Financial Accounting.

What are some of the std SAP reports available on allocations (assessments and distribution)?

KSU6 for actual assessment.
KSV6 for actual distribution.
KSVC for planned distribution.
KSUC for actual distribution.

How to Close Outstanding Items for Output Control Documents that Cannot be Cleared?

Please use the below transaction codes:

GL clearing - F-03
Customer clearing - F-32
Vendor clearing F-44

How to Transfer Posted Cost Center Costs to Profitability Analysis?

Please follow the path below:

Explanation -> Options -> Assessment -> Indirect activity allocation -> Indirect activity allocation.

How many chart of A/c will be used if the client have two company code One in INDIA and other One in US?

It depends on client requirements. If client wants to have single COA for both Country or If they want to have different COA they can go ahead. If they want to have both company codes reports in single as consolidation, they can use group COA which captures consolidation report.

What is the t-code to Check Open and Close Posting Periods?

Kindly use T-code OB52 to check with open & close posting period.

How to Block inv value more then 1,00,000?

Please use transaction code OMR6 and Cross check for tolerance keys PP and DQ for your company code where system allow you to post vendor invoice with payment block status.