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SAF FI Technical Interview Questions 1
1. Tell me about FI Organizational structure?
Ans: Client
|
Operating Concern
|
Controlling area1 Controlling Area 2
|
Co. Code 1 Co. Code 2
|
Bus area 1 Bus area2 Bus Area3 Bus Area 4
2. How many Normal and Special periods will be there in fiscal year, why do u use
special periods?
Ans: 12 Normal posting period and 4 special periods are in the fiscal year which can be
used for posting tax and audit adjustments to a closed fiscal year.
3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based on a/c types considering GL
Accounts. Tr. Code. OB52.
4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
Name of the company
City
Country
Currency
Language
Address
5.What is document type, and what does it control? Examples.
Ans: Document type is nothing vouchers containing line items. Several business transac! tions
can be identified within a particular document type.
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document
6. What is posting key and what does it control?
Ans: These are special classification keys. Two character numerical key it controls the entry
of line items.
Posting key determines Account type, Debit/credit posting, Field status of transaction.
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7. What is field status group, what does it control?
Ans: FSG is mandatory field in ! GL Creation. You use this field to define which fields are
displayed when you post business transactions to a G/L account.
A field may have one of the following statuses.
- Suppressed
- Display
- Optional
- Required
8. What is chart of account and how many charts of accounts can be assigned to a
company?
Ans: Chart of account is a list of all G/L accounts used by one or several company codes.
For each G/L account, the chart of accounts contains the account number, account name,
and the information that controls how an account functions and how a G/L account is
created in a Company code.
You have 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.
You have the following options when using multiple company codes.
You 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, you can assign up to 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, you can choose
whether to balance the co! mpany codes which use different charts of accounts together or
separately.
9. What does definition of a chart of account contains?
Ans: chart of account key
Name
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator
10. Can one COA be assigned to several companies?
Ans: yes. One COA can be assigned to several companies.
11) What is account group and what does it control?
Ans: Account group determines which fields you can configure on the G/L master record. It
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is necessary to have at least two one for B/S and another one for P&L a/c.
It controls the Number ranges of GL A/C.
The status of fields of the master record of GL belongs to company code area.
12) What is reconciliation account; can you directly enter documents in that a/c?
Ans: When you p! ost items to a subsidiary ledger, the system automatically posts the same
data to the general ledger. Each subsidiary ledger has one or more reconciliation accounts in
the general ledger.
We cant use reconciliation account for direct postings.
13) How do you control field status of GL master records and from where do you
control!
Ans: Field status variant is maintained all FSGs.
14) What are the segments of GL master record?
Ans:
- COA Segment
A/C group
Nature of account
Short text
GL a/c long text
Trading partner
Group Account Number
- Company code segment
Account currency
Tax
Reconciliation a/c for a/c type
OIM,LID,FSG.
15) What does Field status group assigned to a GL master record controls?
Ans: It controls the account assignments that are made to the account. Specifically the field
status group controls whether postings to cost centers, internal orders, profitability segments
and so on are required, not allowed (suppressed), or optional.
16) What is Country and operational chart of account? Why do you use group chart
of account?
Ans: Operational chart of account Day to day activities It is mandatory.
Country COA Its used for legal specific requirement of each country. Its additional and
optional.
Group COA used for consolidation of Company codes. This is for group consolidation
purpose.
17) What are all the segments in a Customer/Vendor master record?
Ans: Segments in Customer Segments in Vendor
- General Data segment General data segment
- Company code segment Company code segment
- Sales area segment Purchasing organization Segment
18) What is open line item management? What do you mean by clearing open line
items?
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Ans: Open item management is further reconciliation function. OIM allows you to display the
open and cleared items and amounts in an account. OIM should be used if an offsetting entry
is made for every line item posted in the account. The a/c is reconciled and cleared against
another account. Ex. Salary clearing account and GR/IR Clearing account.
19) What is residual payment and part payment?
Ans: Residual payment it clears original invoice with incoming amount and create new line
item for remaining outstanding amount.
Partial payment it leaves the original invoice amount and creates new
line item for incoming amount.
20) What is internal and external number ranges?
Ans: Internal Number Ranges: Doc. No will be provided by the system automatically in
serial order allotting the next available progressive number. The number must be in
numerical.
External Number ranges: Doc. No will be given manually by the end user. System will not
lock no automatically in this case. User can pick the number randomly. Number may be an
alpha numeric. *-- Shaannthi S.
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