Ans: SAP Financial Accounting (FI) SAP FI module as the term suggests deals in managing financial transactions within enterprises. This financial accounting module helps employees to manage data involved in any financial and business transactions in a unified system.
Ans: A company is the organizational unit used in the legal consolidation module to roll up financial statements of several company codes. The Company Code is the smallest organizational! Unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting.
Ans: Validations are used to check settings and return a message if the prerequisite check condition is met. Substitutions are similar to validations; they actually replace and fill in field values behind the scenes without the user’s knowledge unlike validations that create on-screen msgs to the user.
Ans: One or more Operative Chart of Accounts can be assigned to a company code.A COA must be assigned to a company code. This COA is the operative COA and is used in both FI and CO. One Chart of Account can be assigned to many Company codes i.e., Multiple company codes can either share the same or have separate COA. But a company code (Country specific Company code or International Company code) can have a country specific COA also along with Operative COA. The link between the regular COA and the country COA appears in the alternate number field of the G/L master record.
Eg: If a company’s subsidiaries are located in both US & Mexico. We need to configure 2 Company codes – one for US and another for Mexico, for e.g. U100 and M100. The same way we create 2 COA’s one for US & one for Mexico, USCA and MXCA. Mexico has different govt reporting requirements than the US so we will need to define a company code specific to Country Mexico and also create a country specific COA to be used, in addition to normal COA. In tcode OBY6(Comp Code Global Parameters) of CC M100 we define normal COA i.e.,USCA in Chart of Accounts field and MXCA in Country Chart/Accts field.
Ans: The Controlling Area is the central organizational unit within CO It is representative of a contained Cost Accounting envt where costs and revenues can be managed.
Ans: A controlling area may include one or more company codes which must use the same operative chart of accounts as the controlling area. A Controlling Area can contain multiple company code assignments but a
single company code can be assigned to only one controlling area.
Ans: Fiscal Year is a period of 12 months and SAP provides 4 special periods to posting adjustment Entries. Fiscal year determines posting periods. Posting periods are used to assign business transactions. Fiscal year
may be year dependent or year independent.
Ans: The Special periods in a fiscal year variant can be used for things like posting audit or tax adjustments to a closed fiscal year.
Ans: Year Dependent: the financial year is same as calendar year. Starting from 1st Jan to 31st Dec (where posting periods and the calendar months are equal)
Year Independent: the financial year is different from calendar year
Starting from 1st April to 31st March (where the posting period months
are not equal to calendar year months)
Ans: Shortened Fiscal Year: a financial year, which has less than 12 periods.
Ans: The Posting period variant controls which posting periods, both normal and special, are open for each company code. It is possible to have a different posting period variant for each company code in the
The posting period is independent of the fiscal year variant.
Ans: Document type is the identifier of differentt account transactions like SA for G/L,AA for Asset Accounting etc.The doc. Types controls things like type of the account that can be posted to, the number range
assigned to it, and required doc header fields.
Ans: Tolerance group stores Posting amount defaults. Tolerance groups are
assigned to User ID’s that ensures only authorized persons can make
Ans: Posting keys determine whether a line item entry is a debit or a credit as well as the possible field status for the transaction. Posting keys are SAP delivered. If u want changes like making additional fields optional on payment type posting keys then the best possible action is to copy the posting key that needs to be modified and then modify it.
Ans: Field status groups control the additional account assignments and other fields that can be posted at the line item level for a G/L
Ans: 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.
Ans: 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.
Ans: There are loads of tables that get copied over when copying co codes. This might be incomplete in a manual copy, and hence the manual route is not advisable.
Ans: 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.
Ans: 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.
Ans: As many FSVs as you want can be assigned to the co code i.e. 1:n as of Co Code: FSV.
Ans:
In Controlling –> General Controlling –> Maintain Controlling Area –> Maintain Controlling Area –> Activate
Components/Control Indicators –> you need to check if you want to activate the order management/activity based costing/commitment management etc