Top 25 Fi: 1. What Are The Options in SAP For Fiscal Years?
Top 25 Fi: 1. What Are The Options in SAP For Fiscal Years?
Top 25 Fi: 1. What Are The Options in SAP For Fiscal Years?
A Fiscal year is nothing but a way to store financial data. In SAP for both quarterly
and monthly data organization, there are twelve periods and four special periods.
Two types of Fiscal years are available. They are: year dependent fiscal year and
calendar year.
Financial Statement Version (FSV) is a reporting tool, which can be used to get out
the final accounts from SAP such as balance sheet, loss and profit account. For
generating the outputs of various external agencies like statutory authorities and
banks, the multiple FSV’s can be used.
Each company code contains two additional currencies Along with the company
code, the currency also enters into the currency code data. The currency, which is
entered in the creation of the company code, is called local currency and the other
extra two currencies are known as parallel currencies.
In order to keep your company away from the risk of multiple outstanding
receivable and bad debts. By using credit control area in SAP, the credit limit can be
set for the customer. By using SAP, you can block the accounts receivable balance in
the account of the customer that is managed by you and the deliveries to the
customers depending upon the credit limit.
It is the process in which chasing letters of payment are released to the customers.
The SAP helps to identify which customers must receive the letters and for which
overdue products. With a simple reminder, various letters get printed in SAP
according to the overdue payment date. We can get the information about which
letter has been given to the customer.
The Recurring entries can be used to cancel the use for the manual posting of
accounting documents that do not change from month to month. Consider the case,
an expense document is generated in the last days of each month or when the
individual wants it. The multiple recurring entries are created and then using
transactions, all together are processed at a batch month end.
The Automatic Payment Program (APP) is a tool, which is provided by the SAP to
companies in order to pay its customers and vendors. If any mistakes take place in
posting manually, the APP tool is used to avoid that mistakes. If there are more
employees in the company, payment using APP becomes more profitable.
When you change from a normal fiscal year to a non- calendar fiscal year, the short-
end fiscal year results. It happens when an enterprise become portion of a new
corporate group.
The fields, which come up during the transaction done by the user is controlled by
Field status groups.It is stored in a Financial general ledger (FIGL) master.
12. What are the problems faced when business area is configured?
When the business area is configured, the account balance is split, which is more
pertinent in the case of tax accounts.
It controls the type of accounts that can be posted such as vendor, normal GL
account, customer and Assets.
It defines the number range of documents.
For reversal of entries, it can be used.
At the client level, Customer and Vendor codes are stored. Any company can use the
Vendor and Customer code only by extending the company code view.
A two digit numerical known as ‘Posting Key’ is used to determine the transaction
type, that is entered in the line item.
At the time of creation of the Master record, an Account group is used to control the
data, which is required to be entered. An Account group subsists for the definition of
a Customer Master, GL account and Vendor. The fields that arrive during a master
data creation in SAP is controlled by the Account group.
18. What is the master data pre-requisites for clearing the document?
The GI account is a check box that is located in the General Ledger Master Record
which is managed as an open item management. It helps you to maintain your
accounts related to cleared and uncleared items. An example for this would be
GR/IR account in SAP.
19. How many numbers of line items you can have in one single entry?
The number of line items that can be accommodated in one document is 999 lines.
For each country, a tax procedure is defined and the tax codes are defined in this.
There is flexibility to either capitalize the tax amounts to stock or expense out the
Tax amounts.
21. Describe the relationship between Profit center and cost center
accounting.
The Profit centers occupy the data related to both revenue and cost, displaying how
much each dollar of profit costs to generate. Whereas the cost centers provide
companies to occupy all costs related to operations of daily businesses, excluding
monthly expenses that are unavoidable such as rent or other utilities.
Entertainment, food, administrative and other expenses comes under this category.
Every company has its unique code. The controlling module helps you to create a
controlling area that contains all actions related to profitability analysis, cost center
accounting and product costing.
SAP x Apps
SAP Business suite
SAP for industries
SAP ERP
SAP R/3 and R/3 Enterprise
SAP solution manager
The SAP provides interfaces for the windows front end, depending upon Microsoft’s
‘Object Linking and Embedding’ (OLE) Technology for embedding objects such as
Microsoft Excel files.
The Spool Requests are generated during background or dialogue processing and it
is placed in the spool database along with information about the print format and
printer. The actual data is stored in the Temporary Sequential objects