10+ SAP FI Consultant Interview Questions and Answers

I am currently located in [location]. My preferred location is [preferred location].

• Current location is [location]

• Preferred location is [preferred location]

Document splitting in SAP FI allows for detailed financial reporting by segmenting financial documents based on defined criteria.

• 1. Basic Document Splitting: Splits documents based on account assignment objects like cost centers or profit centers.

• 2. Segment Reporting: Allows for financial reporting by segments, ensuring compliance with IFRS and other regulations.

• 3. Profit Center Splitting: Ensures that transactions are allocated to the correct profit centers for accurate prof...read more

SAP is an enterprise resource planning software while S4 HANA is the latest version of SAP with in-memory database technology.

• SAP is an ERP software used for managing business operations and customer relations.

• S4 HANA is the next-generation business suite built on the SAP HANA in-memory database platform.

• SAP offers various modules like FI, CO, MM, etc. while S4 HANA provides real-time analytics and processing capabilities.

• SAP uses traditional disk-based databases while S4 HAN...read more

Accounts payable is a sub-ledger in SAP FI that records all invoices and payments to vendors.

• Configuration steps include defining vendor master data, setting up tolerance groups, defining document types for vendor invoices, and assigning number ranges for vendor invoices.

• Process involves receiving invoices from vendors, verifying the accuracy of the invoices, posting the invoices in the system, and making payments to vendors.

• Integration with procurement module for automatic i...read more

Accounts receivable is the money owed to a company by its customers for goods or services delivered.

• Configuration steps include defining customer account groups, assigning number ranges, setting up tolerance groups, and defining dunning procedures.

• Accounts receivable transactions are posted using transaction code F-28.

• Accounts receivable reports can be generated using transaction code FBL5N.

Organizational structure refers to the hierarchical arrangement of lines of authority, communications, rights and duties within an organization.

• It defines how roles, power and responsibilities are assigned and how information flows between different levels of management.

• It can be represented through an organizational chart that shows the different departments, teams and positions within the company.

• It can also include the company's policies, procedures and culture.

• Examples of...read more

FI-MM Integration connects Financial Accounting with Materials Management in SAP for seamless financial and inventory management.

• Integration ensures that all inventory movements are reflected in financial accounts.

• For example, when goods are received, the system automatically updates the inventory and accounts payable.

• It allows for real-time tracking of costs associated with materials, enhancing financial reporting accuracy.

• The integration supports automatic postings for tran...read more

ASAP Methodology is a framework for SAP implementation that provides a structured approach to project management.

• ASAP stands for Accelerated SAP

• It consists of five phases: Project Preparation, Business Blueprint, Realization, Final Preparation, and Go-Live and Support

• Each phase has specific deliverables and tasks that must be completed before moving on to the next phase

• ASAP Methodology helps ensure that SAP implementations are completed on time, within budget, and meet the ne...read more

Configuration of assets in SAP involves setting up asset classes, master data, and depreciation methods for effective asset management.

• Define Asset Classes: Group similar assets (e.g., machinery, vehicles) for streamlined management.

• Create Asset Master Data: Input details like asset number, description, location, and acquisition date.

• Set Up Depreciation Areas: Configure different depreciation methods (e.g., straight-line, declining balance) for financial reporting.

• Assign Cost...read more

The golden rule of accounting states that debit what comes in and credit what goes out.

• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Revenue = Expenses + Net Income