SAP FI ECC 6.

0 week1

No 1 a) b) c)

Question Organizational Units Business areas are assigned to Company Code Financial Statements can be generated for Business Areas Company Code, by default, is a self-balancing entity

2 a) b)

Chart of Accounts Chart of Accounts are defined at client level Country Chart of Accounts is a field in Chart of Accounts master, hence Country Chart of Accounts is assigned to a Chart of Account Operating Chart of Accounts is mandatory for a Company Code and is assigned to a Company Code, which enables the Company Code to be used for Financial Accounting Group Chart of Accounts is assigned to a Chart of Account, and not to the Company Code Country Chart of Accounts and Group Chart of Accounts are mandatory for a Company Code, for the Company Code to be used for Financial Accounting

c)

d) e)

3 a) b) c) d) e)

GL Account Group This is used for classifying General Ledger Accounts This determines the number intervals for General Ledger Accounts The number intervals can overlap Internal Number definitions can be defined for a GL Account Group This determines the field status of General Ledger master record fields of Company Code segment

4 a) b) c)

Field Status The priority is Suppress, Display only, Required Entry and Optional The priority is Required Entry, Display only, Suppress and Optional For General Ledger Accounts, the field status for the fields of Company Code segment are defined and controlled at Account Group and Transaction (create, change and display) of master records. A field of General Ledger master has the field status of Optional at Account Group and Suppress for transactionCreate. When the account is created, you will be able to enter the value of that field. A field of General Ledger master has the field status of Required entry at Account Group and Suppress for transaction-Change. When the account is changed, you will be able to change the value of that field.

d)

e)

5 a) b) c)

General Ledger Account If a general ledger account is to be used in a company code, then it must have company code segment data defined for it. If a general ledger account is to be used in a company code, then it must have chart of accounts segment data defined for it. If a general ledger account is to be used in a company code, then it must have both chart of accounts segment data and company code segment data defined for it. If a general ledger account is to be used in a company code, then it must have client level segment data defined for it. The field Account Group for a General Ledger Account is a field of Company Code segment data.

d) e)

6 a)

General Ledger AccountThe field Account currency for a General Ledger Account is a field of Company Code segment data.

b) c) d) e)

The field P&L Statement Account Type is a mandatory field if an account is defined as a P&L Statement Account A General Ledger Account can be defined as Open Item management only if it has Line Item display set to it. A General Ledger Account can be defined as Line Item display only if it has Open Item management set to it. A Profit & Loss account cannot be set for Open Item management

7 a) b) c) d) e)

Reconciliation Account This is defined only for Customer, Vendor and Asset Account types This does not ensure real-time integration between Sub Ledger and General Ledger This cannot be posted directly The account type for this account is defined at Company Code segment of a General Ledger Account master A Reconciliation Account cannot be set for Open Item management

8 a)

Customer and Vendor Accounts A Customer account is a complete account only if it has general data (client level), Company code segment data and Sales area segment data defined for it. A Customer account can be used in FI even if it does not carry Sales area segment data A Vendor account is a complete account only if it has general data (client level), Company code segment data and Purchase Organization segment data defined for it. A Vendor account cannot be used in FI if it does not carry Company Code segment data The address of a customer account is stored at company code segment data

b) c)

d) e)

9 a) b) c)

Customer / Vendor Account Groups This determines the classification of Customer / Vendor This determines the number ranges for Customer / Vendor Account numbers The number ranges cannot be defined as External

10 a) b) c)

What determines if the customer / vendor account is an one-time customer / vendor? Posting Keys Document Types Field Status

d) e)

Posting Date Account Group

11 a) b) c) d)

Currency The currency that is assigned to a company code is called local currency The currency that is entered in a document header is called transaction currency The currency key cannot be changed during document entry One of the methods of maintaining exchange rates is base currency

12 a) b) c) d)

Accounting Document An accounting document contains header and detail portions For a line item, the account, amount and posting key (debit/credit) are mandatory to post a document A complete document is considered to be zero-balancing for a company code In the header, the reference and document header text cannot be made mandatory through document type definition

e) f)

The account types that are allowed in the header are controlled by document type The account types that are allowed in line items (detail) are controlled by posting keys

13 a) b)

Posting KeyThese are defined at Company Code level Determines the account types that are allowed in a line item, the field status of the line item and debit/credit indicator of the line item You can define your own posting keys, in addition to the standard posting keys delivered by SAP.

c)

14 a) b) c) d) e)

Document Reversal A document can be reversed only if it contains cleared items A document can be reversed only if it does not contain cleared items Cleared items cannot be reset If a document contains cleared items, then the cleared items must be reset before it is reversed A clearing document contains no line items

15 a) b) c) d)

Due Date is calculated from: Document Date Posting Date Entry Date Baseline Date

16 a) b)

Posting Period variant Posting period variant is assigned to Company Code This defines the ranges of periods that are currently open for processing

c) d) e) f)

This defines the ranges of periods that are currently closed for processing This does not define the ranges of accounts within a specific account type that is currently open for processing This defines the specific user authorization necessary to post entries within a specific period If there is only a + entry in Account type field against the range of periods, then a GL document cannot posted to this period

17 a) b) c)

Document A document is unique and identified with Document Number, Company Code and Fiscal Year A document is unique and identified with Document Number and Company Code A document is unique and identified with Document Number and Fiscal Year

18 a) b) c)

Variant PrincipleThe examples for variants in SAP FI are Fiscal year variant, Field Status variant and Posting period variant The examples for variants in SAP FI are Fiscal year variant, Dunning variant and Posting period variant A valid variant can be assigned to more than one Company Code

19 a)

Payment TermsIf a vendor invoice is created in FI, then the payment terms from Company Code segment data of Vendor master is defaulted in Invoice If a vendor invoice is created in MM, then the payment terms from Company Code segment data of Vendor master is defaulted in Invoice If a customer invoice is created in FI, then the payment terms from Company Code segment data of customer master is not defaulted in Invoice

b)

c)

d)

If a customer invoice is created in SD, then the payment terms from Sales area segment data of Customer master is defaulted in Invoice

20 a) b) c) d)

Tax codes and proceduresThe tax code is used for calculating the amount of tax in the document The tax code is used for determining the GL Accounts for posting the amount of tax in the document Tax codes are defined for country A tax procedure must be assigned to the country of company code for SAP to calculate the tax

21 a) b) c) d)

The GL Accounts for Exchange Rate differences:-w Can be defined for a GL Account, currency and currency type Can be defined for a GL Account only, then it assumes for all currencies and currency types Cannot be defined for GL Account only The same GL Accounts can be defined for more than one source GL account.

22 a) b) c)

Automatic clearing You can define your own criteria for selecting and clearing in automatic clearing The automatic clearing document can be reset Automatic clearing cannot be performed for a business partner who is a customer as well as a vendor

23 a)

Partial Payment and Residual Payment The residual payment clears an open item for the amount of payment made, and creates a new line item for the residual amount. The partial payment clears an open item for the amount of payment made, and creates a new line item for the partial

b)

amount. c) The partial payment does not clear an open item, but the payment item is also kept as open item

24 a) b) c) d) e)

Terms of Payment This determines the baseline date for due date calculation This determines the cash discount periods and the related cash discount percentages This determines the business partners credit limit

In simple terms, with the day limit, you can create another version of the same terms of payment

25 a)

The valid ways for Clearing open items Account clearing

b) c) d)

Post with clearing Reversing documents Down payment transaction against a request

26 a) b) c)

Document Posting The posting period is determined by the entry date The posting date must be the same as the document date The document date and posting date could be different

27 a) b)

General Ledger Account If an account is defined in foreign currency, then it can be posted only in that currency If an account is defined in local currency, then it can be posted in any currency

c)

Only balances in local currency indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed as open item management

d) e)

You can create as many reconciliation accounts as you want Reconciliation accounts are not posted real-time

28 a) b) c) d)

Customer / Vendor AccountsThese accounts should always be open item management accounts A customer cannot be a vendor in a company code Reconciliation account is always a mandatory field irrespective of account group field status Terms of Payment field is in Payment Transactions tab of Company Code segment.

29 a) b) c) d)

General FI One number range definition can only be assigned to one account group for customer and vendor account groups House Banks are defined for each Company Code A house bank is a combination of house bank id and bank master (bank country and bank key) The fields Reference and Header Text can be changed even after a document has been posted, provided they must be defined in Document Change Rules Document Header in Customization

30 a) b)

The possible functions of New General Ledger Accounting are: Parallel Accounting (Parallel Ledgers) Profitability Analysis (CO-PA)

c) d)

Segment Reporting Elimination of Reconciliation Ledger for CO-FI Integration

e)

Custom fields can be added to the Ledger

31 a) b) c) d)

Ledgers and Ledger definitions: 0L always denotes the leading ledger There could be more than one leading ledger The non-leading ledgers are always user-defined There could be more than one non-leading ledger

e) f)

Maintaining different ledgers portray parallel accounting The currency and fiscal year variant of leading ledger and nonleading ledger should not be different

32 a) b) c)

Scenario Definitions New General Ledger Accounting There are six scenarios that are provided by SAP and Profit Center Update is one of them You can define your own scenarios as well A scenario depicts which fields are updated in the ledgers during a posting

33 a) b) c) d)

If New General Ledger Accounting is active, then: You can display the documents in Entry view and General Ledger view You can define your own views to display the documents In General Ledger Line item display, you can choose the Ledger as per your requirement In Customer and Vendor Line item display, you can choose the Ledger as per your requirement

e)

You cannot change the layout of line item display for General Ledger, Customer and Vendor line items

34 a) b) c) d) e) f) g)

In New General Ledger Accounting: Segment is an organizational unit that is defined for reporting purposes In the standard system, Segment is assigned to a profit center and then derived from profit center during document posting You can define as many segments as you want You cannot portray your own methods to derive segment Segment reporting is optional You can also use Business Area or Profit Center (for example) as alternatives for segment reporting During document posting, when the segment is derived from a profit center, if the profit center does not have a segment assigned to it, then the document is posted to a dummy segment

35 a) b) c) d) e)

Document splitting Document splitting is activated at client level You cannot deactivate document splitting for a company code You can define inheritance for each company code You can define more than one characteristic for document splitting Document splitting can be considered to be a method to derive zero-balancing for a characteristic when the document is posted Document split is inherited to Vendor/Customer line item in General Ledger View Document split is inherited to Vendor/Customer line item in SubLedger of Accounts Payable or Accounts Receivable

f) .g)

36

Document splitting characteristic

a) b) c)

Segment is the only document splitting characteristic In New General Ledger Accounting, Business Area cannot be a document splitting characteristic You should always set the zero balance indicator if you wish to use the characteristic to create financial statements

37 a) b) c) d)

CO to FI IntegrationIn Classic General Ledger Accounting, CO-FI Integration happens through Reconciliation Ledger In New General Ledger Accounting, during CO-FI Integration, secondary cost elements can also be transferred from CO to FI. In New General Ledger Accounting, CO-FI Integration happens real-time. In New General Ledger Accounting, for CO-FI Integration, to transfer primary costs to FI, the original cost elements are generally used. You can activate the trace in the real-time integration variant for all users and deactivate it subsequently. You can activate the trace user-specifically at any time.

e) f)

38

You will activate / use New General Ledger Accounting for your enterprise, if: (please treat the below as individual requirements) You need to comply with the accounting principles IAS and US GAAP You have the requirement portraying more than one ledger for accounting Controlling is not implemented and you have a requirement of portraying your accounting with only one ledger You want to have segment reporting, but you do not necessarily want segment, but you want to achieve it through other characteristics like Business Area You have already implemented Controlling and want to have CO-FI integration real-time

a) b) c) d)

e)

f)

You have Asset Accounting implemented for your enterprise

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