Tech Mahindra SAP Fico Functional Consultant Interview Questions and Answers for Experienced

SAP APP process involves creating, posting, and clearing vendor invoices in SAP FICO module.

• Create vendor invoice in SAP

• Post vendor invoice in SAP

• Clear vendor invoice in SAP

A business area is a separate area within a company that is used to group related activities for reporting and analysis purposes.

• Business areas are typically defined based on geographical locations, product lines, or divisions within a company.

• They help in segregating financial transactions and reporting for different segments of the business.

• For example, a company may have separate business areas for its North America...read more

Chart of accounts is a list of all the accounts used by an organization to define its financial transactions.

• Chart of accounts organizes financial transactions into categories

• It helps in tracking financial transactions and preparing financial statements

• Each account in the chart of accounts is assigned a unique number or code

• Examples of account categories: assets, liabilities, equity, revenue, expenses

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

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

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

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

P2P process stands for Procure to Pay process, which involves all steps from requisition to payment for goods or services.

• Requisition: Request for goods or services

• Purchase Order: Formal order placed with supplier

• Goods Receipt: Receiving the goods or services

• Invoice Verification: Checking and approving supplier invoice

• Payment: Settling the invoice

Integration between FI, MM, and SD involves sharing data between financial accounting, materials management, and sales and distribution modules in SAP.

• FI module records financial transactions and generates financial reports.

• MM module manages procurement and inventory processes.

• SD module handles sales orders and customer invoices.

• Integration ensures seamless flow of data between modules for accurate financial reporting.

• ...read more

The number of cod configured depends on the specific requirements of the project and can vary.

• Number of cod configured is determined by the specific needs of the project

• Cod configuration can range from a few to many depending on complexity

• Examples of cod configurations include GL accounts, cost centers, profit centers, etc.

A cost center is a specific location, department, or function within a business that is responsible for incurring costs.

• Cost centers help track and allocate expenses within an organization.

• They are used for budgeting, forecasting, and performance evaluation.

• Examples include marketing department, IT department, and production line.

• Month-end activities may include closing financial books, reconciling accounts, and prepar

I want to work for your company because of its strong reputation, innovative solutions, and commitment to employee growth.

• Your company has a strong reputation in the industry, which would provide me with valuable experience and opportunities for growth.

• I am impressed by the innovative solutions your company offers, and I want to be a part of the team that develops and implements these solutions.

• Your company's commitmen...read more

My biggest achievement so far is successfully implementing an SAP FICO solution for a multinational company, resulting in significant cost savings and improved financial processes.

• Successfully implemented SAP FICO solution for a multinational company

• Achieved significant cost savings through process improvements

• Streamlined financial processes resulting in increased efficiency

• Received positive feedback from stakeholders

I am an experienced SAP Fico Consultant with a strong background in finance and accounting.

• I have over 5 years of experience working as an SAP Fico Consultant.

• I have a deep understanding of financial processes and accounting principles.

• I have successfully implemented SAP Fico solutions for various clients, improving their financial operations and reporting.

• I am proficient in configuring and customizing SAP Fico modules...read more

I am looking for a change to expand my skills and take on new challenges.

• Seeking new opportunities for professional growth

• Wanting to work on different projects and industries

• Desire to learn new technologies and methodologies

• Looking for a more challenging and rewarding role

• Wanting to work in a different company culture or environment

My greatest strength is my attention to detail and my weakness is my tendency to overthink.

• Strength: Attention to detail - I have a strong ability to notice even the smallest details and ensure accuracy in my work.

• Weakness: Overthinking - I sometimes spend too much time analyzing situations and can become indecisive.

• Strength: Analytical skills - I have a strong ability to analyze complex problems and find effective sol...read more

Process improvement implementation involves analyzing current processes, identifying areas for improvement, implementing changes, and monitoring results.

• Analyze current processes to identify inefficiencies

• Develop a plan for improvement with clear objectives and timelines

• Implement changes gradually to minimize disruption

• Monitor results and adjust as needed to ensure success