Explain the procedure for transporting tax codes and their associated rates betwen SAP systems
(common interview question FI/CO experience)
Rather than attaching tax codes to a transport as per any other SAP configuration, a unique import/export routine needs to be followed which imports the settings into each SAP environment/server.
- The export routine can be found under IMG transaction FTXP via transport => tax code => export/import
- The tax codes themselves have to be manually created in the target system. You leave the tax rates blank (your basis team have to ensure the system is an open client) and run the import routine.
- The tax accounts have to be maintained manually in the system also.
Explain what is meant by GR/IR clearing
Goods receipts from the MM module typically generate entries such as
- Debit stock, Credit GR/IR clearing
This indicates an increase in stock and a pending entry to be cleared once the invoice from the vendor arrives
At month end, there will be a need to accrue those purchases received but not yet invoiced hence the reason for the account names ‘Good received / invoice received’
Typically the balance on this account at month end endicates the value of the goods received but not invoiced.
Once the invoice is received, the corresponding entry is booked:
- Credit Vendor, Debit GR/IR
These opposite entries to the GR/IR need to be cleared against each other (this account is maanged on an open basis). Using the F.19 transaction this can be done automatically by using the PO and line item number stored in the assignment field
Explain the purpose of the account type field in the GL master record?
At year end P&L accounts are cleared down to the retained earnings balance sheet account.
This field contains an indicator which is linked (in the IMG transaction OB53) to the specific GL account use in this clear down.
What is the alternative account field used for in the GL master record?
(a popular interview question)
This field can be used to store the old legacy system’s account number against the new number in SAP.
A standard search help exists which will allow users to search for the SAP account based on the old legacy account number. This is particularly useful for new SAP users who are still getting used to the new chart of accounts.
What is the difference between the chart of account view and company code view when maintaining a GL account?
There are two screens which have to be maintained for each new GL account.
- The first is the chart of account view (transaction FSP0) and contains the information used by all company codes using this chart of accounts such as description, group account number, etc.
- Each company code using this chart will then add its own company code view (via transaction FSS0) which contains localized data specific to that entity (e.g. field status group, alternative account number, etc.)
The chart of accounts screen must be maintained before the local company code screens.
What is a sort key?
What is it used for?
FI/CO jobs in a logistics environment, this is a common question
Sort keys are stored in customer, vendor, and GL master records.
They determine what value is populated in the assignment field in the document line items posted.
There are several standard entries in a pre-delivered SAP system and additional entries can be configured if required.
A verry common use for sort key 014 Purchase Order Number for example, is to allow the GR/IR clearing GL account to be cleared automatically.
What are fiscal year variants?
How are fiscal periods opened and closed?
Fiscal year variants (FSV’s) are assigned to a company code via transaction OBY6.
They determine the financial reporting periods of an entity (e.g. 13 4-weekly periods, calendar months, 5-5-4 reporting etc.)
During month end, the current fiscal reporting period will closed and the next month opened. It is possible to open and close specific ledgers (e.g. AP, AR, GL) and even sets of accounts within those ledgers. This way it’s possible to (for example) close all GL accounts and leave only the month end adjustment accounts open for posting.
What are the special periods 13, 14, 15, and 16?
What are they used for?
When you define the fiscal year variant, you choose to define additional special periods. These can be used (for example) for the posting of year end adjustments, auditors adjustments, etc.
Periods 1-12 can be closed and periods 13-16 left open during year end closing.
What are GL field status groups?
Where are they used?
GL Field status groups are defined in configuration and are used to determine which fields are available for posting when entries are booked against GL accounts.
Each field can be set as optional, mandatory, or suppressed.
What are recurring entries and why are they used?
**Recurring entries **(setup in FBD1) can eliminate the need for manual posting of accounting documents which do not change from month to month.
For eample, a regular rental expense document can be created which can be scheduled for the last day of each month. Usually multiple recurring entries are created together and then processed as a batch at month end using transaction F.14
Explain how foriegn curency revaluation works in SAP R/3 FI
Over time the local currency equivalent of foreign currency amounts will fluctuate according to exchange rate movements.
Usually at month end, there is a requirement to restate these amounts using the prevailing month-end exchange rates
SAP can revalue foriegn currency GL account balances as well as outstanding customer and vendor open item balances.
In SAP configuration, you define the balance sheet adjustment account and which accounts the realized gain/loss should be booked.
A batch input session is created to automatically post the required adjustments.
During the GL Account clearing, how can small differences be dealt with?
During configuraiton, a tolerance limit is set which defines the maximum differences allowed during clearing
The differences can be automatically booked by the system to a specific account during posting (using IMG transaction OBXZ)
