What is Inter company transaction in sap? A group can have more than one legal entity and can make transactions between themselves. Such transaction can be making payments on behalf of another entity or incurring expenses or selling and buying products from each other. We can configure such kind of situation in transaction code OBYA. When end user posted an … [Read more...] about SAP FICO Interview Questions Part 20
SAP FICO Interview questions
SAP FICO Interview Questions Part 19
Can we reverse depreciation posting in sap? Yes, it can be reversed in sap. We can reverse a depreciation posting if any mistake or change in depreciation parameters occur. For example if in depreciation parameter you want to change the life span of the asset then such change will affect the depreciation amount posted in sap. For this we need to perform recalculation … [Read more...] about SAP FICO Interview Questions Part 19
SAP FICO Interview Questions Part 18
Can we reverse a cleared document in sap? Yes, If we have posted the cleared document through automatic payment program then it can be reversed with transaction code FBRA or by using path: SAP Menu > Accounting > Financial Accounting > Document > Reset cleared items If we have used automatic payment program to clear the documents then transaction FCH8 can be … [Read more...] about SAP FICO Interview Questions Part 18
SAP FICO Interview Questions Part 17
What is validation rule in sap? Validation rules are set with transaction code OB28. These validation rules are defined to enforce certain conditions while posting FI document. In validation rule, certain prerequisite check has to occur for the validation check to take place. If these checks are not met then sap will return an error message. What is the difference … [Read more...] about SAP FICO Interview Questions Part 17
SAP FICO Interview Questions Part 16
What is document currency in sap? Currency entered in the header section of a financial accounting transaction is called document currency. After posting a transaction in document currency, SAP automatically calculate the amount in local currency and stored the amount in local currency. What is FI substitution rule in sap? Substitution rule will replace the value that … [Read more...] about SAP FICO Interview Questions Part 16
SAP FICO Interview Questions Part 15
What is payment method in sap? While paying to a vendor or receiving payments from customers we use different payment methods to pay or receive money. These payment methods are one digit code that indicates the type of payment used for a vendor or customer. These codes can be in letter or number i.e. it can be alphanumeric. Example of payment methods are C= cheques, D= … [Read more...] about SAP FICO Interview Questions Part 15
SAP FICO Interview Questions Part 14
What is a payment term in sap? Payment terms are created to determine the due date of payment for a sap customer and vendor master data. It’s created separately and assigned to a customer or vendor master based on the requirements. While posting a customer or vendor invoice in sap, system pulls out data from these customer or vendor master data. Based on the configuration … [Read more...] about SAP FICO Interview Questions Part 14
SAP FICO Interview Questions Part 13
What is dunning level? Dunning levels are defined at the time of creating of our dunning procedure. Dunning level in sap means how often we will be notifying our business partner about their overdue outstanding balance. Dunning can be done up to a maximum 9 level (including one legal dunning level). Dunning levels can be differentiated with there text. It defines the … [Read more...] about SAP FICO Interview Questions Part 13
SAP FICO Interview Questions Part 12
What are the segments we have in vendor master creation? Vendor master has three segments i.e. 1) General Data Segment 2) Company code Segment 3) Purchase Organization Segment. These segments manage different fields for vendor masters. General segment and company code segment are related to financial accounting module. SAP FI consultant needs to take care of these two … [Read more...] about SAP FICO Interview Questions Part 12
SAP FICO Interview Questions Part 11
What is difference between a normal reversal and negative reversal? In normal reversal of a transaction the earlier debit line item will be credited and the earlier credit item will be debited by which the document will be shown on the opposite side of gl account where the original document was posted. In negative posting, the original document gets a posting with minus … [Read more...] about SAP FICO Interview Questions Part 11