First Place It Solutions SAP Fico Consultant Interview Questions and Answers

Q1. Self interduction
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Q2. Subject reated question
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Q1. Self interduction
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Q2. Content moderater
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Q1. Self interduction
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Q2. Content morderter
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What is aptitude text? How much rounds?

Q1. Is very simple in this round.
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Q2. Best experience in this round.
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Q1. P2P cycle with accounting entries.
Ans. 
P2P cycle involves procurement of goods/services, invoice processing, and payment to vendors with corresponding accounting entries.
• Procurement of goods/services from vendors

• Receipt of goods/services and creation of purchase order

• Invoice processing and verification against purchase order

• Recording of invoice in accounts payable

• Payment to vendors and recording of payment in accounts payable

• Accounting entries: Debit accoun
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Q2. General configuration questions
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Q1. FI MM Integration
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Q2. House Banks configuration
Ans. 
House Banks configuration involves setting up bank accounts in SAP for electronic payments and receipts.
• House Banks are created in SAP using transaction code FI12

• Bank accounts are linked to House Banks for payment transactions

• House Banks can be assigned to company codes for specific use cases
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Q3. Asset Accounting
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Q4. Intermediate Document
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Q1. Difference between ECC & S4Hana
Ans. 
ECC is the older version of SAP's ERP system, while S4Hana is the newer, more advanced version with improved features and capabilities.
• ECC is based on traditional row-based database technology, while S4Hana utilizes in-memory computing for faster processing.

• S4Hana offers real-time analytics and predictive capabilities, while ECC does not.

• S4Hana has a simplified data model and user interface compared to ECC.

• S4Hana is de...read more
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Q2. House bank Creation
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Q1. Regarding Package
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Q1. Procurement to pay cycle
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Q2. Order to cash cycle
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Q1. What needs to taken into action when employee is transferred from one region to other county?
Ans. 
When an employee is transferred from one region to another country, various actions need to be taken to ensure a smooth transition.
• Update employee's personal information in HR system

• Ensure compliance with local labor laws and regulations in the new country

• Transfer employee's benefits and compensation packages to comply with new country's regulations

• Provide cultural training and support for employee to adjust to new wor...read more
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Q1. Finance related
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Q1. Sap fico related
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Agriculture any product related

Q1. What is tuff incident you solved recently?
Ans. 
I recently solved a complex issue related to asset accounting integration in SAP FICO.
• Identified discrepancies in asset accounting data

• Analyzed integration settings between asset accounting and FI modules

• Implemented necessary corrections to ensure accurate financial reporting
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