Junior SAP Fico Consultant

10+ Junior SAP Fico Consultant Interview Questions and Answers

Updated 21 Dec 2024
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Q1. Tell about the Reconciliation account field in Vendor Master

Ans.

The Reconciliation account field in Vendor Master is used to track and manage the financial transactions between a company and its vendors.

  • The Reconciliation account field is a mandatory field in the Vendor Master record in SAP FICO.

  • It is a key element in the Accounts Payable (AP) module and is used to record and monitor vendor-related financial transactions.

  • The Reconciliation account is a general ledger account that represents the vendor's balance in the company's books.

  • It h...read more

Q2. What are the different types of documents and their number ranges?

Ans.

Different types of documents in SAP Fico and their number ranges

  • Customer invoices - number range 1-10000

  • Vendor invoices - number range 10001-20000

  • Credit memos - number range 20001-30000

  • Payment documents - number range 30001-40000

Q3. Can you please explain about Automatic Payment Program(APP)

Ans.

APP is a tool in SAP FICO used to automate vendor payments based on predefined criteria.

  • APP is used to create payment documents automatically

  • It can be configured to select vendors based on various criteria such as due date, payment method, etc.

  • APP can also be used to generate payment advice notes and send them to vendors

  • It saves time and reduces errors in the payment process

Q4. Explain P2P process with postings and OBYC configurations

Ans.

P2P process involves procurement of goods/services, creation of purchase orders, goods receipt, invoice verification, and payment processing.

  • Procurement of goods/services through purchase requisition and creation of purchase orders in SAP

  • Goods receipt posting to record receipt of goods/services

  • Invoice verification to match invoices with purchase orders and goods receipts

  • Payment processing to settle invoices with vendors

  • OBYC configurations for defining G/L accounts for invento...read more

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Q5. what is golden rules for accounting?

Ans.

The golden rules of accounting are basic principles that guide the recording of financial transactions.

  • The first golden rule is the Debit/Credit rule, which states that for every transaction, there must be at least two accounts involved, with one account debited and another account credited.

  • The second golden rule is the Real/Personal/Nominal rule, which categorizes accounts into three types: real accounts (assets and liabilities), personal accounts (individuals and organizati...read more

Q6. what is hold document in sap fi?

Ans.

A hold document in SAP FI is a document that is temporarily blocked from further processing.

  • A hold document is typically used when there is a need to temporarily stop the processing of a document.

  • It can be placed on a hold due to various reasons such as missing information, pending approvals, or incorrect data.

  • While a document is on hold, it cannot be posted or further processed until the hold is released.

  • Hold documents can be viewed and managed through the SAP FI system.

  • Once...read more

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Q7. what is sap? and what is fiancial year?

Ans.

SAP is an enterprise resource planning software that helps businesses manage their operations. A financial year is a 12-month period used for accounting and financial reporting purposes.

  • SAP is a software developed by SAP SE that integrates various business functions such as finance, sales, and production.

  • It helps organizations streamline their processes, improve efficiency, and make data-driven decisions.

  • SAP FICO (Financial Accounting and Controlling) is a module within SAP t...read more

Q8. What is the enterprise structure?

Ans.

The enterprise structure refers to the way an organization is organized in terms of its business units, divisions, and geographical locations.

  • The enterprise structure in SAP FICO includes company code, business area, and functional area.

  • It helps in defining the financial reporting structure and facilitates the flow of data within the organization.

  • The enterprise structure is crucial for setting up the organizational hierarchy and determining the level of control and reporting ...read more

Q9. What is s4 hana

Ans.

SAP S/4HANA is an intelligent, integrated ERP system that runs on an in-memory database, offering real-time analytics and insights.

  • SAP S/4HANA is the next-generation business suite from SAP, built on the advanced in-memory platform SAP HANA.

  • It offers simplified data models, real-time analytics, and a modern user experience.

  • SAP S/4HANA enables businesses to make faster, more informed decisions and drive digital transformation.

  • It integrates with other SAP solutions like SAP Fio...read more

Q10. What is sap fico

Ans.

SAP FICO is a module in SAP ERP that deals with financial accounting and controlling.

  • SAP FICO stands for Financial Accounting (FI) and Controlling (CO)

  • It helps in managing financial transactions, generating financial reports, and controlling financial processes

  • FI module deals with accounts payable, accounts receivable, general ledger, and asset accounting

  • CO module focuses on cost center accounting, profit center accounting, internal orders, and product costing

Q11. Wat is sap srbg khf

Ans.

SAP SRBG KHF is not a recognized term in SAP FICO. It may be a typo or abbreviation that is not commonly used.

  • SAP FICO typically refers to the Finance and Controlling module in SAP ERP systems.

  • It is used for financial accounting, management accounting, financial planning, and reporting.

  • Common functionalities include general ledger, accounts payable, accounts receivable, asset accounting, and controlling.

  • Consultants in this field are responsible for implementing, configuring, ...read more

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