10+ Junior SAP Fico Consultant Interview Questions and Answers

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

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

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

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

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

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

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

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

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