SAP FICO Interview Questions Part 11

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 sign i.e. if you have posted a transaction with a debit entry of Rs.1000 then the same line item will be debited with Rs. -1000. Same thing will be applicable to the credit line item of the transaction. 

Why you reverse a FI transaction in sap?

You need to reverse a FI transaction for many reasons some of them are like;

  • Wrong accounts are debited or credited in sap.
  • Accounts are posted with a wrong amount.
  • Accounts are posted with some other wrong information which can not be changed and require it to reverse.

What is automatic payment program?

As per the payment terms you can pay to all vendors and customers by using automatic payment program. Automatic payment program can be configured by using transaction code FBZP.

What is the accounting entries passed at the time of goods receipt and vendor payment in SAP FI?

Accounting entries generated from MM module while receiving goods and making vendor payment. These entries are posted to FI module through the configuration that we do in transaction Code OBYC.

Accounting entries by debiting stock/material account and crediting the gr/ir account is created when we receive goods from out vendor.

Accounting entries by debiting gr/ir account and crediting the vendor account gets posted when we receive invoice from the party.

Accounting entries by debiting the vendor account and crediting the bank account gets posted when we make payment to the vendor.

What is a gr/ir account

GR/IR account stands for goods receipt and invoice receipt account. This is a clearing account used to take care of the timing difference between goods receipts and invoice receipts in sap. The balances left in gr/ir account is reconciled at the end of the year and then adjusted for financial reporting.

Know more on gr/ir clearing account

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