SAP FICO Interview Questions Part 20

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. … Read More » "SAP FICO Interview Questions Part 20"

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 … Read More » "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 … Read More » "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 … Read More » "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 … Read More » "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 … Read More » "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 … Read More » "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 … Read More » "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 … Read More » "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, … Read More » "SAP FICO Interview Questions Part 11"