SAP FiCo Interview Questions
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1. What does the Field Status Group Controls?
Ans: Field Status Group Controls the fields that have the statuses such as Suppressed, Display, Optional and Required. It is a mandatory field in General Ledger creation and it defines in which fields are displayed when you post business transactions to G/L account.
2. What does a Posting key control?
Ans:? Posting Key is a 2 character numerical key and it is special classification key and it determines Account type; Debit/Credit posting, Field status of transaction. Posting Key controls the entry of line items.
3. What does a Chart of Accounts Contain?
Ans:? Chart of Accounts Key Contain the
a) Name
b) Maintenance Language
c) Length of the Gl Account Number
d) Controlling Integration
e) Group Chat of Accounts
f) Block Indicator.
4. What does an account group control?
Ans: The Account Group Controls the Number Ranges of GL account, the account group determines the fields that can configure on the G/L master record. It is necessary to have at least two B/S and P&L a/c.
5. How many charts accounts can be assigned to a company?
Ans: A charts account has to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code. They have the following options when using multiple company codes. This can use the same chart of accounts for all company codes If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country. In addition to the operating chart of accounts, you can use two additional charts of accounts if the individual company codes need different charts of accounts, it can assign unto two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries. The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, choose whether to balance the company codes, which use different charts of accounts together or separately.
6. What is Residual and Part Payment?
Ans: The payment that clears original invoice with incoming amount and creates new line item for remaining outstanding amount is a Residual Payment, the payment that leaves the original invoice amount and creates new line item for incoming amount is known as Part Payment.
7. What does the internal and external number ranges means?
Ans: The document, which was generated by the system automatically in a serial order allotting the next available progressive number, which should be numerical, is termed as Internal Number Range.
The document generated manually by the end user. System will not lock automatically in this case. So the user can pick the number randomly and it may be alpha numeric. So it was termed as External Number Range.
8. What is APC?
Ans: APC stands for Acquisition and Production costs. Acquisition means any asset, which you may, acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octopi, freight that you add and arrive at total cost of acquisition for capitalization of the asset. For ex say a computer. The total cost which you incur for the acquisition of the computer including installation will be your APC Production cost means any asset, which is created internally within the organization. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incur exp. for the same. For ex. say addition to the office building. Therefore APC includes any external acquisition or internal construction of exp., which needs to be capitalized.
9. Why do the Field Status Group assigned to GL Master Record Controls?
Ans: Field Status Group is assigned to GL Master Record Controls since it controls the account assignments that are mode of the account.? Specifically the field status group controls whether postings to const centers, internal order, profitability segments and so as they require and not allowed (suppressed), or optional.
10. What is Residual and Part Payment?
Ans: The payment that clears original invoice with incoming amount and creates new line item for remaining outstanding amount is a Residual Payment, the payment that leaves the original invoice amount and creates new line item for incoming amount is known as Part Payment.