21. What is a Account group and where is it used?
An Account group controls the data that needs to be entered at the time of creation of a master record. Account groups exist for the definition of a GL account, Vendor and Customer master. It basically controls the fields which pop up during master data creation in SAP.
22. What is a field status group?
Field status groups control the fields which come up when the user does the transactions. There are three options for field selection. They are:
Display only
Suppressed
Mandatory
So basically you can have any field either for display only or you can totally suppress it or make it mandatory.
The field status group is stored in the FI GL Master Record.
23. What is the purpose of a “Document type” in SAP?
A Document type is specified at the Header level during transaction entry and serves the following purposes:
•?It defines the Number range for documents
•?It controls the type of accounts that can be posted to
eg Assets, Vendor, Customer, Normal GL account
•?Document type to be used for reversal of entries
•?Whether it can be used only for Batch input sessions
Document Type is created for differentiating business transactions.
Eg
Vendor Invoice, Credit Memo, Accrual Entries,Customer Invoice. It is a two digit character.
24. What is a Financial Statement Version?
A FSV (Financial Statement Version) is a reporting tool and can be used to depict the manner in which the financial accounts like Profit and Loss Account and Balance Sheet needs to be extracted from SAP. It is freely definable and multiple FSV's can be defined for generating the output for various external agencies like Banks and other Statutory authorities.
25. How are input and output taxes taken care of in SAP?
A tax procedure is defined for each country and tax codes are defined within this. There is flexibility to either expense out the Tax amounts or Capitalize the same to Stocks.
26. What are Validations and Substitutions?
Validations/Substitutions in SAP are defined for each functional area e.g. FI-GL, Assets, Controlling etc at the following levels
1. Document level
2. Line item level
These need to be specifically activated and setting them up are complex and done only when it is really needed. Often help of the technical team is taken to do that.
27. Is it possible to maintain plant wise different GL codes?
Yes. To be able to do so the valuation group code should be activated.
The valuation grouping code is maintained per plant and is configured in the MM module. Account codes should be maintained per valuation grouping code after doing this configuration.
28. Is Business area at company code Level?
No. Business area is at client level. What this means is that other company codes can also post to the same business area.
29. What are the different scenarios under which a Business Area or a Profit Center may be defined?
This question is usually very disputable. But both Business Areas and Profit centers are created for internal reporting. Each has its own pros and cons but many companies nowadays go for Profit center as there is a feeling that business area enhancements would not be supported by SAP in future versions.
There are typical month end procedures which need to be executed for both of them and many times reconciliation might become a big issue. A typical challenge in both of them is in cases where you do not know the Business Area or Profit Center of the transaction at the time of posting.
30. What are the problems faced when a Business area is configured?
The problem of splitting of account balance is more pertinent in case of tax accounts.
An Account group controls the data that needs to be entered at the time of creation of a master record. Account groups exist for the definition of a GL account, Vendor and Customer master. It basically controls the fields which pop up during master data creation in SAP.
22. What is a field status group?
Field status groups control the fields which come up when the user does the transactions. There are three options for field selection. They are:
Display only
Suppressed
Mandatory
So basically you can have any field either for display only or you can totally suppress it or make it mandatory.
The field status group is stored in the FI GL Master Record.
23. What is the purpose of a “Document type” in SAP?
A Document type is specified at the Header level during transaction entry and serves the following purposes:
•?It defines the Number range for documents
•?It controls the type of accounts that can be posted to
eg Assets, Vendor, Customer, Normal GL account
•?Document type to be used for reversal of entries
•?Whether it can be used only for Batch input sessions
Document Type is created for differentiating business transactions.
Eg
Vendor Invoice, Credit Memo, Accrual Entries,Customer Invoice. It is a two digit character.
24. What is a Financial Statement Version?
A FSV (Financial Statement Version) is a reporting tool and can be used to depict the manner in which the financial accounts like Profit and Loss Account and Balance Sheet needs to be extracted from SAP. It is freely definable and multiple FSV's can be defined for generating the output for various external agencies like Banks and other Statutory authorities.
25. How are input and output taxes taken care of in SAP?
A tax procedure is defined for each country and tax codes are defined within this. There is flexibility to either expense out the Tax amounts or Capitalize the same to Stocks.
26. What are Validations and Substitutions?
Validations/Substitutions in SAP are defined for each functional area e.g. FI-GL, Assets, Controlling etc at the following levels
1. Document level
2. Line item level
These need to be specifically activated and setting them up are complex and done only when it is really needed. Often help of the technical team is taken to do that.
27. Is it possible to maintain plant wise different GL codes?
Yes. To be able to do so the valuation group code should be activated.
The valuation grouping code is maintained per plant and is configured in the MM module. Account codes should be maintained per valuation grouping code after doing this configuration.
28. Is Business area at company code Level?
No. Business area is at client level. What this means is that other company codes can also post to the same business area.
29. What are the different scenarios under which a Business Area or a Profit Center may be defined?
This question is usually very disputable. But both Business Areas and Profit centers are created for internal reporting. Each has its own pros and cons but many companies nowadays go for Profit center as there is a feeling that business area enhancements would not be supported by SAP in future versions.
There are typical month end procedures which need to be executed for both of them and many times reconciliation might become a big issue. A typical challenge in both of them is in cases where you do not know the Business Area or Profit Center of the transaction at the time of posting.
30. What are the problems faced when a Business area is configured?
The problem of splitting of account balance is more pertinent in case of tax accounts.
More Questions & Answers :-
No comments:
Post a Comment