Ans: The system for Global Trade Services (GTS) lets you automate your global trade transactions, manage large numbers of business partners and documents, and ensure that your company always complies with constantly changing international legal regulations.
Ans:The major components of SAP Global Trade Services are as follows:
Ans: Comparison of ECC Foreign Trade Vs SAP Global Trade Services (GTS):
SD Foreign Trade vs. SAP Global Trade Services (GTS)
Since the commercial enterprise systems are getting more complex and markets becoming extra global nowadays the necessity of managing overseas trade of a commercial enterprise is swiftly gaining significance. SAP Foreign Trade and/or SAP Global Trade Services (GTS) affords the tools you need to
compete efficaciously in nowadays’s market. This allows you to:
Manage import and export approaches, integrating them efficiently into the Supply Chain.
Automatically perceive licensing requirements for importing and exporting items based totally on cutting-edge rules.
Simplify reporting with automatic approaches for growing, printing and submitting declarations to the customs government.
Determine which of your merchandise qualify for Preference managing.
Provide an lively interface for sending information via the world over to be had EDI systems and different electronic media.
Update or trade statistics in all applicable foreign alternate files at any time prior to the very last goods difficulty.
Foreign Trade in ECC and SAP Global Trade Services (GTS) components are tightly included with Materials Management (MM) for managing Imports and Sales and Distribution (SD) for handling Exports. In the location of documentary payments it's also included carefully with the Financial Accounting application.
Ans:The primary advantages of the use of SAP GTS are
1.Saving the time via automated approaches
2.Expenditure discount
3.Less human paintings worried
4.Automatic checking the compliance violation and banned dealers
5.Can keep the organisation emblem and accept as true with by means of fending off the fines and consequences
6.Fast exchange processing and consumer delight
7.SAP SD Tutorial SAP HR Interview Questions
Ans: SAP R/3 is the former call of the company useful resource making plans software program produced by means of SAP AG.
It is an enterprise-huge facts gadget designed to coordinate all of the assets, statistics, and activities wanted to finish enterprise procedures along with order achievement or billing.
SAP R/3 became organized into wonderful functional modules, protecting the everyday features in region in an employer.
The most broadly used modules have been Financial s and Controlling (FICO), Human Resources (HR), Materials Management (MM), Sales & Distribution (SD), and Production Planning (PP).
Each module treated precise commercial enterprise responsibilities on its very own, however changed into connected to the others where relevant.
For example, an invoice from the billing transaction of Sales & Distribution might bypass thru to accounting, where it'll appear in bills receivable and value of products offered.
SAP normally centered on high-quality exercise methodologies for riding its software program approaches, but greater currently increased into vertical markets.
In these conditions, SAP produced specialized modules (known as IS or Industry Specific) geared in the direction of a selected marketplace segment, consisting of utilities or retail.
Ans: The functionalities worried in SAP GTS are
Ans:The GTS consist 4 principal components:
SAP Compliance Management : With SAP Compliance Management you can reveal all transactions of import and export of goods, and so follow the legacy laws the complete procedure chain without any gaps. A relevant secret is the observance of boycott lists, embargo checks, and import and export controls, that may all fully included into an already existing structures.
SAP Customs Management : Customs related tactics are handled by the SAP Customs Management, what is licensed through the Customs. Key factors are the product type, customs valuation, the print out of foreign alternate documents and no longer least the IT-based customs clearance, using a electronic verbal exchange with the customs. The digital ATLAS machine (automatic tarif and nearby customs gadget), as well the european transit system NCTS (new computerised transit machine) are supported via SAP GTS. This is for all exporting organizations even extra essential, because using ATLAS is obligatory considering 01.07.2009 in Germany!
But even extra automatic customs clearance systems in Europe, USA and Australia are supported by using SAP GTS and has been licensed already.
SAP Risk Management : With SAP Risk Management the finacial dangers for the organisation can be minimized. The use and dealing with of preferences (which includes choice calculation), export refunds, letter of credit for import and export business are supported through SAP GTS.
SAP Electronic Compliance Reporting : With SAP Electronic Compliance Reporting the GTS helps the statistical reports to the authorities, which have to be introduced for an inner ecu trade. Depending for the united states's authorithy, the facts are provided according to their certain information formats
Ans:Benefits of SAP GTS:
Ans: Compliance Management contains functions relating to import and export control regulations. This feature allows you to monitor procedures that are subject to licensing requirements and to comply with international legal regulations which prevent and/or restrict trade with individuals, groups and individual countries.
Three main areas of Compliance Management are:
Ans: Risk Management is used for Letter of Credit processing, preference determination and the management of Long Term Vendor Declarations. Allowing you to minimize the financial risk associated with global trade activities.
The following services are available:
Ans:These are some of the things that can be achieved with the help of an automated GTS platform:
Ans:Using the following reports that are available, you can evaluate and analyze data for any of the services you use in SAP GTS:
Imports :
Exports :
Cross-area
Ans: Tally is a basic user-friendly accounting software application. Whereas SAP is a full-fledged full ERP software. The advantage of ERP software in any large firm is it gives access to as many employees as possible which is limited to their function.
For Example, the PO is raised in the production module, whereas the Invoice is raised in the FICO module. For an Invoice to be processed in SAP, there needs to be a 3-way watch, as soon as the 3-way watch is done, Invoice gets booked and while doing a payment run, it gets picked in the payment run and the vendor gets paid.
Ans: Accounts Payable – Amounts payable to the Suppliers/Vendors/Creditors. The accounting institution also can be referred to as as Sundry Creditors. This is Current Liability.
Accounts Receivable – Amounts receivable from the Customers/Debtors. The accounting institution also can be known as as Sundry Debtors. This is Current Asset.
Bills Payable – Bills of Exchange drawn with the aid of Creditors/Suppliers on the agency and is a Current Liability.
Bills Receivable – Bills of Exchange drawn via a company on its Customers/Debtors and is a Current Asset.
Ans: Electronic Compliance Reporting : ECR allows the regular trouble of Intrastat declarations to the authorities for Intra-European exchange between EU member states. The relevant facts is gathered from the logistics methods, after which sent to your country wide records government periodically.