LTIMindtree Functional Lead Interview Questions and Answers

Q1. Oracle receivables core setup
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Q2. Oracle bill in advance accounting entries
Ans. 
Oracle bill in advance accounting entries
• When billing in advance, recognize revenue over the service period

• Debit Accounts Receivable and credit Unearned Revenue upon billing

• Recognize revenue by debiting Unearned Revenue and crediting Revenue over time

• Adjust entries as revenue is earned
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Q1. Interview is scheduled
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Q1. It was a gaming round related to reasoning and decision making skill
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Q1. Question related to accounting terminology
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Q2. Question related to accounting standards
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Q3. Advanced Excel formula
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Q1. Basic personal information
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Q2. Accounting and tax related questions
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The cloud system is beneficial.

Q1. What is difference between Chart of accounts and main accounts
Ans. 
Chart of accounts is a list of all the accounts used by an organization, while main accounts are the individual accounts within the chart of accounts.
• Chart of accounts is a structured list of all the general ledger accounts used by an organization.

• Main accounts are the individual accounts within the chart of accounts, representing specific financial transactions.

• Chart of accounts provides a framework for organizing fin...read more
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Q2. What is Number sequences and where do you create them?
Ans. 
Number sequences are unique identifiers used to generate and assign numbers to records in Dynamics 365 Finance and Operations.
• Number sequences are created in the Number sequences form in the System administration module.

• They are used to automatically generate unique identifiers for various records such as customers, vendors, and transactions.

• Number sequences can be customized to include prefixes, suffixes, and specific...read more
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Q1. What is sales tax group
Ans. 
A sales tax group is a grouping of tax codes that are applied to a specific set of products or services.
• Sales tax groups help streamline the tax calculation process for specific items

• They allow for easier management of tax rates for different products or services

• For example, a company may have different tax rates for clothing, electronics, and food items
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Q2. What is item sales tax group how do u set up item sales group in tax module?
Ans. 
Item sales tax group is a grouping of items that have the same tax treatment. It is set up in the tax module to apply specific tax rates to items.
• Item sales tax group is used to apply specific tax rates to items that belong to the same group.

• It helps in managing tax calculations for different items efficiently.

• To set up item sales tax group, go to the tax module in the ERP system and create a new tax group.

• Assign the r...read more
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Q3. What is the major issue have u done recently?
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Q1. How to verify login page.
Ans. 
Verify login page by checking for correct credentials and error messages.
• Enter valid username and password to ensure successful login

• Enter invalid username or password to check for error message

• Check for password strength requirements if applicable
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Q1. Tell me about yourself
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Q2. Your Challenges
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Q1. In Sales order how to activate Sold to and ship to fields if it's freezed
Ans. 
To activate Sold to and Ship to fields in a frozen Sales order, use VA02 transaction code and change the status to unfreeze.
• Access the Sales order using VA02 transaction code

• Change the status of the Sales order to unfreeze

• Navigate to the Sold to and Ship to fields and activate them
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