Here are SAP FICO interview questions and answers for fresher as well experienced candidates to get their dream job.
12) Explain what is validations and substitutions in SAP?
For each functional area in SAP Validation or Substitution is defined eg, Assets, Controlling etc. at the following levels
a) Document Level b) Line item Level
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23) Where can you use the internal order?
To track the cost, internal orders are used; they are proposed to be incurred over on a short term basis.
28) What are the major components of Chart of Accounts?
The major components of Chart of Accounts are:
a) Chart of account key b) Name c) Maintain Language d) Length GL account number e) Controlling Integration f) Consolidation-Group chart of accounts g) Block indicator
40) What is APP in SAP Fico?
APP stands for ‘Automatic Payment Program’; it is a tool provided by SAP to companies to pay its vendors and customers. APP tools help to avoid any mistakes taken place in posting manually. Also, when number of employees is more in the company, payment through APP becomes more feasible.
46) What is the purpose of the account type field in the GL (General Ledger) master record?
At the end of the year, profit and loss accounts are cleared down to the retained earnings balance sheets account. The field contains an indicator which is linked to a specific GL (General Ledger) accounts to use in this clear down.
27) How capital WIP (Work In Process) and Assets accounted for in SAP?
‘Capital WIP’ is referred to as Assets under construction in SAP and is represented under specific asset class. Depreciation is not charged under ‘Capital WIP’ usually. The cost incurred on building a capital asset can be booked to an ‘internal order’ and through the settlement procedures, and can be posted onto an ‘Asset Under Construction’.
25) In Asset Accounting what is the organizational assignments?
In Asset Accounting, chart of depreciation is rated as the highest node, and this is assigned to the company node. All the depreciation calculations are stored under the chart of depreciation.
15) What is a field status group?
‘Field status groups’ control the fields which come up when the user does the transactions. In FIGL (Financial General Ledger) master, the field status group is stored.
3) In SAP FI what are the organizational elements?
The organizational elements in SAP FI are:
a) Company Code b) Business Area c) Chart of Account d) Functional Area
35) What is the purpose of “Document type” in SAP?
The purpose of ” Document type” in SAP is
a) Number range for documents are defined by it b) Types of accounts that can be posted are controlled by it, e.g Assets, Vendor, Customer, Normal GL account c) It is used for the reversal of entries
31) What is posting period variants?
In fiscal year posting period is a period for which the transactions figures are updated. The posting period variants in SAP is accountable to control which Accounting period is open for posting and ensures that the closed periods remain balanced.
6) How many Chart of Accounts can company code have?
You can have one Chart of Account for one company code which is assigned.
14) In SAP what is the use of FSV ( Financial Statement Version) ?
FSV ( Financial Statement Version) is a reporting tool. It can be used to extract final accounts from SAP like Profit and Loss Account and Balance Sheet. The multiple FSV’s can be used for generating the output of various external agencies like Banks and other statutory authorities.