Agis SAP Fico Consultant Interview Questions and Answers

In company code global settings, you enter the basic settings for the company code.

• Basic company code settings such as currency, language, and chart of accounts are entered in global settings.

• You can also define the fiscal year variant, posting periods, and field status variants.

• Examples of settings include defining the number range for document types, setting up tolerance groups, and defining tax codes.

• Global settings...read more

The 4 digit alphanumeric key, company name, city, country, currency, language, and address are all important details for SAP FICO consultants.

• The 4 digit alphanumeric key is used to identify the company in the SAP system.

• The company name, city, country, and address are used for billing and legal purposes.

• The currency and language are important for financial reporting and communication with stakeholders.

• Examples of curr...read more

Document splitting is a feature in SAP FICO that allows for the separation of financial transactions based on specific criteria.

• Document splitting is used to separate financial transactions based on specific criteria such as cost center, profit center, or business area.

• It allows for more detailed reporting and analysis of financial data.

• For example, if a company has multiple cost centers, document splitting can separat...read more

Profit center is a unit within an organization that generates revenue and expenses and is used for internal management reporting.

• A profit center is responsible for generating profit or loss.

• It is used for internal management reporting and decision-making.

• It can be a department, product line, or geographic location.

• It helps in analyzing the profitability of different parts of the organization.

• Examples include sales depa...read more

Cost elements are used to track expenses and revenues in SAP FICO.

• Cost elements are used to record expenses and revenues in the general ledger.

• They help in tracking the cost of goods sold, overheads, and other expenses.

• Cost elements are assigned to cost centers and profit centers to track costs and revenues.

• They are used in cost accounting and management accounting to analyze costs and profitability.

• Examples of cost el...read more

Withholding tax is a tax deducted at source from payments made to vendors or suppliers.

• It is a tax deducted by the payer from the payment made to the payee.

• It is applicable on payments made to vendors or suppliers for goods or services.

• The deducted tax is paid to the government on behalf of the payee.

• It is used to ensure tax compliance and prevent tax evasion.

• Examples include TDS (Tax Deducted at Source) in India and W

A defined fiscal year is a period of 12 months used for financial reporting purposes.

• A fiscal year can start on any date, but it must end 12 months later.

• It is important to define a fiscal year to ensure accurate financial reporting and compliance with tax laws.

• Companies may choose to align their fiscal year with the calendar year or use a different period.

• For example, a company may have a fiscal year that runs from Ju

APP configuration is the setup of Automatic Payment Program in SAP FICO to process vendor payments.

• APP configuration involves defining payment methods, bank determination, payment terms, and tolerances.

• Payment run is the process of executing the APP to generate payment proposals and payment orders.

• During payment run, the system selects open items based on defined criteria and creates payment documents.

• Payment run can b...read more

Document splitting is a feature in SAP FICO that allows for the splitting of financial documents into multiple segments for reporting purposes.

• Document splitting is used to meet legal and management reporting requirements.

• It allows for the allocation of costs and revenues to different segments of the business.

• Document splitting can be based on various criteria such as business area, profit center, or segment.

• For exampl...read more