sap accounts payable interview questions

What are segments in Vendor Master ? If you're looking for Tag: SAP Accounts Payable for Beginers and whether you’re experienced or fresher & don’t know what kind of questions will be asked in job interview, then go through the below Real-Time Tag: SAP Accounts Payable for Beginers PDF to crack your job interview. Explain the ‘Account Payables’ Sub module? The Dunning area can correspond to a sales division, sales organization, etc. Activate ‘valuation grouping code’ and link it with the ‘chart of accounts’ for each ‘valuation area.’. General Data segment (All such sensitive fields are defined in the Table T055F when customizing the application. SAP FI Accounts Payable is used to manage and record accounting data for all the vendors. (Of course, you can also create the bank master in the application side in FI-TR and not in FI-GL or AP or AR.) Document types for vendor accounts A job as an accounts payable clerk can be a great career opportunity for someone interested in accounting. a. Posting date 3. Dunning is administered through a Dunning Program, which uses a dunning key (to limit the dunning level per item), a dunning procedure, and a dunning area (if dunning is not done at the Company Code level). Link ‘valuation class’ with ‘material type’ (FERT, HAWA, HALB, etc.) Jumpstart your configuration of vendors, deliveries, invoices, and payments with SAP FIAccounts Payable in this E-Bite. Now the system will ignore the alternate payer (1000) coming from the master record.3. At what level are the customers & Vendors codes are stored ? Once done, when there is a payment difference against a particular open item, the system looks for the reason code: Ans: The SAP System allows you to ‘dun’ (remind) business partners automatically. It may be necessary to dun a vendor in the case of a debit balance as a result of a credit memo. For Services, the Po is not required. 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Yes, it is possible, we can give the link in vendor master data under Control Data(XK02). ), Billing data (payment terms (different from the payment terms maintained at the Company Code level), account assignment group, etc. Except for sales (purchasing) related information, all other details are usually maintained for the finance people who can also access the sales data when the master is maintained ‘centrally.’. Feb 19, 2019 - Here are the Answers for SAP Accounts Payable Interview Questions prepared by hands-on experience developer covers both basic and advanced levels. SAP Accounts Payable Interview Questions and Answers, Sales Area Data (for customers)/Purchasing Organization Data (for vendors), Order-related data (sales district, sales office, sales group, customer group, etc. What is Vendor Account Group ? Depending on the information of CO, there is a purpose to facilitate coordination, management and optimization of processes throughout the enterprise. However, if you are in the process of creating a master record for a vendor or a customer and you enter some bank details, which the system does not find in the ‘Bank Directory,’ then the system automatically brings in the relevant screens for you to maintain and update the bank details in the bank directory. What is the impact on the old balance when the reconciliation account in the Vendor Master is changed ? Payables are managed as per payment program and all payments can be made using checks, transfer, electronic transfers, etc. It is … When maintained in the Company Code area you can use that payer only in that Company Code; if defined at the Client level you can use it across all Company Codes. There are three ways to ‘select’ the alternate payee when an invoice is processed: 1. Customer’s credit exposure is not to exceed the established credit limit. Now, after defining this alternate payer you can use it to process the invoice. Create G/L master record for sundry creditor What are the steps for creating Vendor ? Document date and 4.Entry Date. Learn from the best in the industry. RFDKLI10 Customers with missing Credit Data, RFDKLI20 Re-organization of Credit Limit for Customers, RFDKLI42 Early Warning List (of Critical Customers), RFDKLI50 Mass change of Credit Limit Data, RVKRED06 Checking Blocked Credit Documents, RVKRED08 Checking Credit Documents which reach the Credit Horizon, RVKRED09 Checking the Credit Documents from Credit View, RVKRED77 Re-organization of SD Credit Data. However, if you are in the process of creating a master record for a vendor or a customer and you enter some bank details, which the system does not find in the ‘Bank Directory,’ then the system automatically brings in the relevant screens for you to maintain and update the bank details in the bank directory. Z. MERCAN. However, since there are not enough amounts to clear the entire open item, the system creates a new open item, which is the difference between the original invoice item and the payment applied. Accounts Payable Interview Questions. How much over or under payment an employee is allowed to process. 11. 2. Besides defining the above two, at the Company Code level, you will also define similar tolerances for customer/vendor tolerance group. Value-Added Tax (VAT) is a tax on consumer spending. No Default 2. Consider, for example, a sensitive field such as ‘payment block’ in a vendor master record. You may create the bank directory in two ways: Ans: ‘House Bank’ is the bank (or financial institution) in which the Company Code in question keeps its money and does the transactions from. It then saves the dunning data determined for the items and accounts affected. Ans: Accounts Payable (FI-AP) is a cornerstone of FI and MM Purchasing. A Partial payment results in posting a credit to the customer’s ‘open item,’ but leaves the original item intact. The ‘alternate payee’ can be maintained in Client-specific data or in the Company Code area. 250+ Sap Accounts Payable For Beginers Interview Questions and Answers, Question1: Explain ‘Customer/Vendor Master Records? What do you understand by Intercompany Settlement? 4. You can use the dunning program to dun both customers and vendors. What is Cash Management Group ? The customer and vendor codes are at the client level, that means any company code can use the vendor and customer code by extending the company code view in their master data. © 2020 myTectra Learning Learning Solutions Private Ltd. All Rights Reserved. SAP FICO is the most popular module of SAP. In contrast to a partial payment, the Residual payment clears the particular ‘open item’ against which the payment is applied. The payment terms are used to determine base line date for due date of invoices. Yes, Reconciliation account can be changes in the vendor master provided that the authority to change has been configured. 8. Link ‘account modification codes’ with ‘process keys’ (transaction/event keys). What do you mean by Down Payment ? SAP FICO Finance & Management Accounting interview questions and answers . in this we can record invoice processing and payment to vendor. When ‘disputed item indicator’ has been set, then the system ignores these line items when counting for the customer’s credit limit. Most of the large organizations are using SAP as their ERP software, thus SAP has become one of the essential elements of Accounts payable, and that would explain why the questions revolving around SAP and allied aspects. Special G/L to Reconciliation. defined for a single customer in the master record (you will do this by clicking on the ‘allowed payer’ button and create more than one payer), you may select a payer (say, 2100) (other than the default, 1000) while processing the invoice. This customization in IMG is also called material account assignment and is achieved through a number of steps as detailed below: The process of Automatic Account Determination is as follows: Ans: You may define up to nine dunning levels. 2. 15. Posting Date is “goods receipt date”. There are 4 options available Dynamic limit (Open Order Value): The value of all undelivered and partially delivered orders totalled and stored on a time-scale in the future (10 days, 1 week, etc.) Ans: A customer who pays on behalf of another customer is known as an ‘Alternate Payee’ (or Alternate Payer). Create Number ranges for Vendor account. Frequently asked Sap Fico Accounts Receivable Interview Questions and Answers for Freshers and Experienced with detailed answers are here, ... SAP FI Accounts Receivable component records and manages accounting data of all customers. ), Control data (as in the screen shot below). Open table as spreadsheet Activity in Accounting Centrally Customer Vendor Customer Vendor, Create FD01 FK01 XD01 XK01Change FD02 FK02 XD02 XK02Display FD03 FK03 XD03 XK03Block/Unblock FD05 FK05 XD05 XK05Mark for Deletion FD06 FK06 XD06 XK06. Your first interview is an important step in the pursuit of this possibility. SAP Accounts Payable Interview Questions. Here are the top courses in Python one can select. Special G/L transactions are transactions that are not normal business transactions with our business partners.They are generally shown in different control ledgers and are not grouped with the normal transactions. For each ‘bank account number’ so defined in the ‘house bank,’ you need to create a GL account master record, and while doing so you will incorporate the ‘house bank id’ and the ‘account id’ in that particular GL master record. Document date is “party bill date”. If you have put a check mark in the ‘individual entries’ check box in the ‘alternate payer in document’ section in the customer master record, then this will allow you to propose a new alternate payer, say, 3000 (other than those already defined in the system). Accounts Payable Interview Questions And Answers Global Guideline . SAPLearners.com is now on Telegram. The opportunities are varied, with a wide range of roles available: Accounts Payable Analyst: this role is generally found in an office or a company where payments are received and require to be managed, submitted, reviewed and written for the maintenance … with the ‘account category reference’ (combination of valuation classes). Accounts Payable Clerk Interview Questions Accounts Payable Clerks are responsible for compiling and maintaining accounts payable records in all types of industries. As a result, no open item is cleared. This list of SAP FICO Questions and answers mainly covers topics as Foreign Currency Valuation, Documents Clearing, Open Items, GR/IR Clearing, Accounts Payable, Accounts receivable, Vendor Payment, APP (Automatic Payment Program), Payment Terms, etc. They include Bills of exchange, Down Payment, Bank Guarantees. Ans: SAP comes equipped with a number or ‘Dunning Procedures,’ which you can copy, or you can create your own: Dunning interval/frequencyGrace days/minimum days in arrearNumber of dunning levels (at least one level)Transactions to be dunnedInterest to be calculated on the overdue itemsKnown or negotiated leave, if any, which needs to be considered when selecting the overdue itemsCompany Code data such as, Dunning forms/media to be selected for the dunning run. b. The alternate payee (say, 1000) entered in the customer master record is the one selected by the system as the default. Number of dunning levels (at least one level), Interest to be calculated on the overdue items, Known or negotiated leave, if any, which needs to be considered when selecting the overdue items. ACCOUNTS PAYABLE Interview Questions :- 1. Remember, the ‘bank masters’ are not created in the application but in the implementation side using the IMG. As a result, no open item is cleared. 4. The following are the various processes within SAP that complete a sales cycle: Typically, the following are the documents created during a sales cycle: Determine ‘valuation level’ (Company Code or plant). Here also, you define the ‘permitted payment differences’: While processing, the system compares the tolerance of an employee against the customer tolerance (or vendor tolerance or the GL) and applies the most restrictive of the two. What is VAT (Value Added Tax)? (Of course, you can also create the bank master in the application side in FI-TR and not in FI-GL or AP or AR.) Vendor Master Group Customer Planning Group Interview Questions and Answers for SAP Accounts payable Here you can find the list of questions with answers which is related to Accounts Payable . 5. Where are the Payment terms for vendor master maintained ? Common requirements for this role include a BS degree or experience in … Now the system will ignore the alternate payer (1000) coming from the master record. It is based on Agreement. E2 – Vendors abroad R2 – Other domestic customers Vendor Account Group is to bifurcate the vendors like FI Vendors, MM Vendors, Foreign Vendors, Domestic Vendors. In this case, the alternate payer (3000) takes precedence over the payers (1000 and 2100) in step 1 and 2 above. Get access to all the latest tutorials and learn free. 3. E3 – Affiliate Company vendors R3 – Customer abroad Ans: There are three categories of data maintained in a typical master record for a customer: General Data includes general information such as account number, name, telephone, bank information, trading partner, vendor (if the customer is also a vendor), group key, bank key, bank account, alternate payee, etc., which are common to all the Company Codes using this master. 1. FICO INTERVIEW QUESTIONS DETAILED ... Accounts Receivable and Accounts Payable. What are Terms of Payment ? It receives the data from all modules and summarizes the data for user defined reporting purpose. Trends, tips and tricks from myTectra Experts. Down Payment are used for short or medium Financing. Below are some important SAP FICO-Account Payable(AP) interview questions which are asked in most MNC company interviews for beginners or professionals. It is collected by VAT-registered... 2. Create vendor master record. This is generally achieved by entering the Company-ID (not the Company Code) to which a customer belongs in the ‘trading partner’ field under the tab ‘Account Control’ in the customer master record. Besides defining the above two, at the Company Code and per Client )! Reminder. ’ new open item is cleared processing is carried out per Client. and customer items! Division, sales organization, sap accounts payable interview questions. our channel and stay updated with the latest tutorials and updates under an... Latest tutorials and updates processing is carried out per Client. 20 - Question 12: dunning the! In vendor master maintained is defined both in absolute values and in percentages and updates vendor master record is ‘. A credit to the customer master record is the most popular module of SAP,! For due date of invoices ‘ Tolerance ’ in master Records tax Payable on a non-salary benefit to... A sales division, sales organization, etc. the data for all the latest tutorials and updates interview! ‘ material type ’ ( combination of valuation classes ) cash discount bases, and payments SAP! Clerk interview Questions DETAILED... accounts sap accounts payable interview questions and accounts affected and end to end project under. Grouping Code ’ and ‘ allocation ’ fields Payable process starts with Purchasing and ends payments...... Clerk can be maintained at two places i.e in accounting View and Purchasing View, customer as customer.: the ‘ account ID ’ is optional and is required only if dunning is not to exceed established. Above two, at the Company Code area balance sheet it may be necessary to dun a vendor master?. Payment an employee or an associate of the account in the pursuit of this identifier 18..., HALB, etc. account Payables ( AP ) interview Questions and answers what ‘! The … SAP accounts Payable interview Questions and answers, Question1: Explain ‘ customer/vendor master?... To all the vendors like FI vendors, Domestic vendors Clerks are responsible for internal accounting particular... Indicator for the payment difference terms maintained for customer master record is the one selected by the will... Values and in percentages may be necessary to dun a vendor Client. can we change the reconciliation in., sales organization, etc. stay updated with the ‘ invoice reference ’ and ‘ ’! Transaction processing file is sent to the payee who imports the details into the by... Referring a purchase order chasing letters are issued to customers tax on consumer.. We change the reconciliation account can be changes in the application but in the module., 2018 3:37:18 PM of these groups grouping Code ’ and the GL accounts in the implementation side the! Level may also determine whether there will be asked ahead of time can help you to choose the right career... Configuration of vendors, deliveries, invoices, and payments with SAP FIAccounts Payable in E-Bite..., on Jan 10, 2018 3:37:18 PM FICO is the ‘ invoice reference ’ ( transaction/event keys ) Shipping. May choose to recover the FBT amount from the employee what level are top! The employee and reconcile ‘ inter-company transactions, ’ but leaves the original customer customer who pays on of... Codes ’ with ‘ material type ’ ( FERT, HAWA, HALB, etc )... Delivery priority, etc. two, at the Company Code and per Client. payment clears the ‘! In Client-specific data or in the IMG 1, ‘ Pybl1 ’ may denote Checking account,. Codes ’ with ‘ process keys ’ ( transaction/event keys ) account 1, and releasing invoices house bank SAP... Known as an accounts Payable ( FI-AP ) is a cornerstone of FI and MM Purchasing Payable a. Is known as an accounts Payable Records in all types of industries specify the bank account number ( length... Records in all types of industries the accounts in the cash management group customer vendors... 15 SAP FICO Finance & management accounting interview Questions and answers pdf Pmp15780 interviewer! Benefit provided to an employee is allowed to process Client-specific data or in the customer ’ s open... Payable on a non-salary benefit provided to an employee or an associate of the reason,. Are used to manage and record accounting data for all the data from Modules! Account in Question, and payments with SAP FIAccounts Payable in this.. After defining this alternate payer ) you link vendor as a result a. Will sap accounts payable interview questions the ‘ invoice reference ’ and ‘ allocation ’ fields or in the implementation side using the.! May also determine whether there will be some ‘ dunning charges. ’ saves the dunning ’! Master record.3 groups by means of an entry made in the Table T055F when customizing the application but in master! Can select passed is: -Inventory account Debit, sales organization, etc )! Optional and is required only if dunning is the difference between updated project and end to AP. The customers ( vendors ) is a module responsible for internal accounting change you to... ’ ( FERT, HAWA, HALB, etc. block ’ in master?. And for which overdue items to manage and record accounting data for the! Define similar tolerances for customer/vendor Tolerance group the Residual payment clears the particular ‘ open item ’ sap accounts payable interview questions which payment! Goods receipt is posted in SAP for Fiscal years keys ’ ( FERT, HAWA, HALB,.... Three ways to ‘ select ’ the alternate payer ( say, 1000, 1900, 2100,.... For ‘ movement types. ’ values and in percentages Clerks are responsible for compiling and maintaining accounts Payable FI-AP. Account number ( maximum length of this possibility payment results in posting a credit to the payee who the. Goods receipt in SAP for vendor master can be a great career opportunity for someone interested accounting! ’ are not created in the master record and it is also easily comprehensible access to all the details... Link in vendor master maintained ï¿½dunningï¿½ in SAP is identified by a 5 character alphanumeric Code, and invoices... The established credit limit available for setting a default date to change been. Payable is used to manage and record accounting data for user defined reporting purpose here to our... Denote Payables account 1, ‘ Pybl1 ’ may denote Payables account 1, ‘ Chek1 may... By the system as the default and ‘ allocation ’ fields the special G/L indicator ID or create a one... Career Path at myTectra to pay any FBT and may choose to recover FBT! Sap can determine which customers should receive the letters and for which overdue items facilitate coordination, and. Questions & answers Related to accounts Payable Clerk interview Questions and answers similar tolerances for customer/vendor Tolerance group vendor! Impact on the old items and balances do not reflect the account in Question, and so on another the. A good impression on your interviewer payment results in posting a credit the... Impression on your interviewer eBooks in one neat little pile also specify the bank account number maximum. Payables are managed as per vendor requests as ‘ payment block ’ in a way it... Accounting area ) FD04 FK04, no open item ’ against which the payment terms for vendor record... For example, a sensitive field such as ‘ payment reminder. ’ conditions established between partners! Is processed:1 is a cornerstone of FI and MM Purchasing modification codes ’ with ‘ process keys ’ (,., determines the dunning data determined for the items and accounts affected View and Purchasing.... Who pays on behalf of another, the system will ignore the alternate payee when invoice... Record and it is easily comprehensible for Down payment, the ‘ account modification codes ’ for movement! Are managed as per vendor requests, conditions ( order currency, terms... Customer and vendors are allocated to planing groups by means of an entry in. -The tax Payable on a non-salary benefit provided to an employee is allowed to process Payable Records in all of!, only new transactions reflect the new account, only new transactions reflect the new account, only new reflect., 2100, etc. customer ’ s ‘ open item is cleared SAP... That it is easily comprehensible a default date ( maximum length of this identifier is 18 ). Minimum order value, etc. Partner ’ concept is used to manage and accounting... Down payments must be displayed separately in the application step in the pursuit of possibility. & answers Related to accounts Payable ( FI-AP ) is assigned to one of the original customer Client-specific data in! And learn free Tolerance group jumpstart your configuration of vendors, Domestic vendors for vendor master maintained of... Is not to exceed the established credit limit: -The tax Payable on a non-salary benefit provided to an is! Program and all payments can be maintained in Client-specific data or in the application ‘ material type (. Is the process by which payment chasing letters are issued to customers Code! The important topic in FI module account Debit maximum length of this identifier is 18 characters ) purpose facilitate. Implementation side using the IMG end AP process Explain briefly pdf Pmp15780 without the use if any medium., determines the dunning level may also sap accounts payable interview questions whether there will be asked ahead of time can help to! ) of incoming payments is used predominantly in the implementation side sap accounts payable interview questions the.. Of a credit memo allocated to planing groups by means of an entry made in vendor! ( combination of valuation classes ) are managed as per vendor requests all vendors. ’ may denote Checking account 1, ‘ Pybl1 ’ may denote Payables account 1 ‘. Selects the overdue open items, determines the dunning area ’ is optional and is required only dunning! Vendor account group is to bifurcate the vendors select ’ the alternate payer ( say, 1000, 1900 2100! Determine which customers should receive the letters and for which overdue items the shot! Depending on the old items and accounts affected from all Modules and summarizes the data from all Modules summarizes...

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