Arteria Technologies SAP Fico Consultant Interview Questions and Answers

Q1. HOW IS THE COMPANY WAY OF STYLE BUSINESS ?
Ans. 
The company's way of doing business is focused on innovation, efficiency, and customer satisfaction.
• The company emphasizes continuous improvement and innovation in its products and services.

• Efficiency is a key priority, with a focus on streamlining processes and reducing waste.

• Customer satisfaction is a top priority, with a strong emphasis on building long-term relationships and delivering value.

• The company values team...read more
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Q2. HOW IS THE PRODUCTS QUALITY FOR CUSTOMERS?
Ans. 
The products quality for customers is exceptional, meeting and exceeding their expectations.
• Products undergo rigorous testing to ensure high quality standards

• Continuous feedback from customers is used to improve product quality

• Quality control measures are in place throughout the production process

• Products are designed to meet specific customer needs and preferences
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Good experience

Q1. What are your salary expectations?
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Q2. Share details of your previous job.
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Q3. Tell me about yourself.
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Q1. Good experience while giving the same.
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Q1. How you make the gst reconciliation
Ans. 
GST reconciliation is done by comparing the GST returns filed by the company with the books of accounts to ensure accuracy.
• Compare the GST returns filed with the books of accounts to identify any discrepancies

• Adjust any errors or differences found during the reconciliation process

• Ensure that all input tax credits are correctly claimed and accounted for

• Reconcile the GST payable as per the returns with the GST liability ...read more
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Q2. Explain APP process
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The APP process in SAP FICO stands for Automatic Payment Program, which automates the payment process for vendors.
• APP is used to make payments to vendors based on due dates and payment terms.

• It allows for the creation of payment proposals, selection of invoices to be paid, and generation of payment files.

• The program can be customized to include different payment methods, currencies, and bank accounts.

• Once the payment r...read more
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Q1. Explain P2P process
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P2P process refers to Procure-to-Pay process which involves all steps from requisition to payment for goods or services.
• Requisition: Request for goods or services is made by the user.

• Purchase Order: Formal document is created to order the goods or services.

• Goods Receipt: Goods are received and inspected.

• Invoice Verification: Invoice is matched with purchase order and goods receipt.

• Payment: Payment is made to the vendor...read more
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Q2. What is journal entry of depreciation
Ans. 
Depreciation journal entry records the decrease in value of an asset over time.
• Debit the Depreciation Expense account to recognize the expense

• Credit the Accumulated Depreciation account to reduce the asset's carrying amount

• Depreciation expense increases the total expenses on the income statement

• Accumulated Depreciation reduces the asset's value on the balance sheet
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What about the sap fi , financial statements, fiscal year, chart of accounts etc.

Chart of accounts and fiscal year

Q1. In sap fi how was the store the fiscal year and entry effects
Ans. 
In SAP FI, fiscal year is stored in a variant and entry effects are recorded in the general ledger.
• Fiscal year is stored in a variant which defines the start and end dates of the fiscal year

• Entry effects are recorded in the general ledger accounts

• The fiscal year variant can be assigned to a company code

• Posting periods can be defined within the fiscal year variant

• Closing entries are made at the end of the fiscal year to
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Q2. What is the shortened fiscal year
Ans. 
Shortened fiscal year is a period of less than 12 months used for financial reporting purposes.
• Shortened fiscal year is used when a company changes its fiscal year-end date.

• It can be due to mergers, acquisitions, or changes in business operations.

• Financial statements for a shortened fiscal year are prepared for the period between the old and new fiscal year-end dates.

• For example, if a company changes its fiscal year-en...read more
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Q3. Defined field status group
Ans. 
Field status group is a configuration setting in SAP FICO that determines the field status of various fields in financial accounting documents.
• Field status group is assigned to a company code in SAP FICO.

• It controls the field status of various fields such as posting key, account type, document type, etc.

• Field status can be defined as mandatory, optional, suppressed, or display-only.

• Field status group is used to enforce...read more
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Q4. How many types of chart of accounts and which
Ans. 
There are multiple types of chart of accounts in SAP Fico, including operating chart of accounts, country-specific chart of accounts, and group chart of accounts.
• Operating chart of accounts is used for daily accounting transactions and is common across all company codes.

• Country-specific chart of accounts is used to meet legal and statutory requirements of a specific country.

• Group chart of accounts is used for consolida...read more
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Self introduction, Basic accounting

Q1. In details concept of sap fico
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Q1. Chart of accounts
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A chart of accounts is a list of all the accounts used by an organization to record financial transactions.
• It provides a systematic way to categorize and track financial transactions.

• Each account in the chart of accounts represents a specific type of asset, liability, equity, revenue, or expense.

• It helps in organizing financial data and generating accurate financial statements.

• The chart of accounts can be customized to...read more
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Q2. Accounts payable/receivable
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Q3. Asset accounting
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Q4. Tax deduction source
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Q5. General ledger account
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Q1. Chart of Accounts?
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Chart of Accounts is a list of all the accounts used by an organization to define its financial structure.
• It is a structured list of all the general ledger accounts used by a company.

• Each account is assigned a unique number for identification.

• Accounts are categorized into assets, liabilities, equity, revenue, and expenses.

• It helps in organizing financial transactions and generating financial statements.

• Example: Account
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Q2. Challenges in the current Project?
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Q1. Tickets which I handled in my projects
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Q2. Implementation project Roles and Responsibilities
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Q1. What I wanna see myself after 5yrs
Ans. 
In 5 years, I see myself as a senior SAP FICO Consultant leading projects and mentoring junior consultants.
• Leading SAP FICO implementation projects

• Mentoring junior consultants in SAP FICO best practices

• Continuing to expand my knowledge and expertise in SAP FICO

• Possibly pursuing advanced certifications in SAP FICO
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Q1. Salary discussion
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