SAP & FINANCE

SAP FICO INTERVIEW QUESTIONS -AR AND

AP
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.
utomatic !ayment program through cheques" #ire transfers" $M% etc.
How do you configure the automatic payment program?
The following are the steps for configuring the automatic payment
program:&

Step 1 'et up the following:
(o. code for !ayment transaction
$efine sending and paying company code.
Tolerance days for payable
Minimum ) for cash discount
Maximum cash discount
'pecial *+ transactions to be paid
Step 'et up the following:
!aying company code for payment transaction
Minimum amount for outgoing payment
,o exchange rate diff
'eparate payment for each ref
-ill.exch payment
/orm for payment advice
Step ! 'et up the following:
!ayment method per country
#hether 0utgoing payment
(heck or bank transfer or -.%
#hether allowed for personnel payment
1equired master data
$oc types
!ayment medium programs
(urrencies allowed
Step " 'et up the following:
!ayment method per company code for payment transactions
'et up per payment method and co. code
The minimum and maximum amount.
#hether payment per due day
-ank optimi2ation by bank group or by postal code or no
optimi2ation
#hether /oreign currency allowed
(ustomer.Vendor bank abroad allowed
ttach the payment form check
#hether payment advice required
Step # 'et up the following:
-ank $etermination for !ayment Transactions
1ank the house banks as per the following
!ayment method" currency and give them ranking nos
'et up house bank sub account 3*+ code4
vailable amounts for each bank
5ouse bank" account id" currency" available amount
SAP FICO STUDY MATERIAL
SAP IFRS
SAP SEPA
SAP FICO INTERVIEW QUESTIONS
CONTENT
SAP & FINANCE: SAP FICO INTERVIEW QUESTIONS -AR AND AP http://sapfinance.blogspot.in/2011/02/sap-fico-interview-questions-ar-an...
1 of 4 2/11/2014 8:39 PM
Value date specification
$here do you attach the chec% payment form?
6t is attached to the payment method per company code.
$here are Payment terms for customer master maintained?
!ayment 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.
$hich is the payment term which actually gets defaulted when the
transaction is posted for the customer &accounting view or the sales
view'?
The payment term in the accounting view of the customer master comes
into picture if the transaction originates from the /6 module. 6f an /6
invoice is posted 3/-784 to the customer" then the payment terms is
defaulted from the accounting view of the customer master.
The payment term in the sales view of the customer master comes into
picture if the transaction originates from the '$ module. sales order is
created in the '$ module. The payment terms are defaulted in the sales
order from the sales view of the customer master.
$here are Payment terms for vendor master maintained?
!ayment terms for Vendor master can be maintained at two places i.e. in
the accounting view and the purchasing view.
$hich 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 /6 module. 6f an /6
invoice is posted 3/-984 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.
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.
()plain the entire process of Invoice verification from *R to Invoice
verification in SAP with accounting entries?
These are the following steps:
goods receipt in '! for a purchased material is prepared referring a
purchase order.
#hen the goods receipt is posted in '! the accounting entry passed is:&
6nventory account $ebit
*1.61 account credit
*1.61 3which is *oods receipt.6nvoice receipt4 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.
#hen the invoice is booked in the system through +ogistics invoice
verification the entry passed is as follows:&
*1.61 account debit
Vendor credit
How are +olerances for Invoice verification defined?
The following are instances of tolerances that can be defined for +ogistic
6nvoice Verification.
c. 'mall $ifferences
d. Moving verage !rice variances
e. :uantity variances
f. !rice variances
-ased on the client requirement" the transaction can be ;-locked< or
!osted with a ;#arning< 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.
,an we change the reconciliation account in the vendor master?
=es. 1econciliation account can be changed in the vendor master
provided that the authority to change has been configured. ,ormally we
should not change the reconciliation account.
$hat is the impact on the old balance when the reconciliation
account in the vendor master is changed?
ny 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.
+here is an advance given by the customer which lies in a special *-
account indicator A. $ill this advance amount be considered for
credit chec%?
6t depends on the configuration setting in the special *+ indicator . 6f
the ;1elevant to credit limit< indicator is switched on in the 'pecial *+
indicator the advances will be relevant for credit check" otherwise it will
not be relevant.
SAP & FINANCE: SAP FICO INTERVIEW QUESTIONS -AR AND AP http://sapfinance.blogspot.in/2011/02/sap-fico-interview-questions-ar-an...
2 of 4 2/11/2014 8:39 PM

Reactions:
In payment term configuration what are the options available for
setting a default baseline date?
There are > options available:&
?4 ,o default
@4 !osting date
A4 $ocument date
>4 %ntry date
$hat is generally configured in the payment term as a default for
baseline date?
*enerally document date is configured in the payment term as a default
for base line date.
How do you configure a special *- indicator for ,ustomer?
=ou can use an existing special *+ indicator 6$ or create a new one.
fter creating a special *+ indicator id" update the chart of accounts and
the 1econciliation account. lso as a last step you need to update the
special *+ code.
The special *+ code should also be marked as a 1econciliation account.
'witch on the relevant for credit limit and commitment warning
indicators in the master record.
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4 comments:
Ram Sudhakar 19 December 2013 18:50
very good material ..............
Reply
BASIS LABS 17 January 2014 23:02
very useful information thank you
Reply
yektek 18 January 2014 00:10
nice post swathi
Reply
Keylabs SAP training 22 January 2014 21:04
thanks for your blog sindhu
Reply
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SAP & FINANCE: SAP FICO INTERVIEW QUESTIONS -AR AND AP http://sapfinance.blogspot.in/2011/02/sap-fico-interview-questions-ar-an...
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