The way of success in SAP: Key Concepts and Accounting Principles

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Basic settings

One. What do you mean by company in SAP?

A company is an organizational unit in Accounting which represents a business organization according to the requirements of commercial law in a particular country. For which individual financial statements are created according to the relevant legal requirements. A company can include one or more company codes.

Two. What do you mean by company code?

Company code is one of the organizational unit and legal entity which is formed as per local law where we generate financial statements individually.

Three. What do mean by segment in SAP?

Four. What is profit center and use of it?

Five. What is the use of cost center?

Six. What is chart of accounts and use of it?

Seven. How many types of chart of accounts are there in SAP and use of each one?

Eight. Is it possible to assign one COA to multiple company codes?

Nine. How many COA can we assign to one company code?

Ten. What do you specify in COA?

Eleven. What is account group in SAP and what it does?

Twelve. What is retained earnings account and use?

Thirteen. Is it possible to maintain more than one retaining account and use?

Fourteen. What is fiscal year variant?

Fifteen. What is short end fiscal year?

Sixteen. Is it possible to assign one fiscal year variant to multiple company codes?

Seventeen. What is posting period variant and use?

Eighteen. What are the posting periods and use?

Nineteen. Is it possible to assign one posting period to multiple to company codes?

Twenty. What do you mean by document number range and use?

Twenty-one. How many types of number range are there in SAP and use?

Twenty-two. What is document type in SAP and use or what it controls?

Twenty-three. What is field status variant?

Twenty-four. Is it possible to assign one field status variant to multiple company codes?

Twenty-five. What is field status group and use or what is it does?

Twenty-six. What is posting key use?

Twenty-seven. Difference between posting key and field status variant?

Twenty-eight. What is the use of tolerance group in SAP?

Twenty-nine. How many types of tolerance groups are there in SAP FI?

Thirty. What do you mean by global parameters?

Thirty-one. How many variants are available in SAP?

Thirty-two. What is the use of propose fiscal year check box?

Thirty-three. What is the use of default value date?

Thirty-four. What are special periods use?

Thirty-five. What do you mean by company code is productive and where do we specify?

GL

Thirty-seven. How many segment are available in GL what are?

Thirty-eight. What is account currency?

Thirty-nine. What is the use of only balance in local currency check box?

Forty. What is the use of exchange rate difference key?

Forty-one. What is reconciliation account type?

Sort key ?

Forty-two. What is the use of open item management explain briefly?

Forty-three. Difference between partial clearing and residual clearing?

Forty-four. What are the pre-requisites to select open item management check box?

Forty-five. What do you mean by post automatically check box and for what type of account we select give some examples?

Forty-six. What do you mean by GL account block and how many ways are there the use of each one is?

Forty-seven. What do you mean by document date and posting date difference between?

Forty-eight. What is posting period how it comes automatically at time of posting?

Forty-nine. What is the use of reference field in SAP?

Fifty. What is the use of document header text?

Fifty-one. How many segment are there in document what are they?

Fifty-two. What do you mean by document overview and simulation difference between those?

Fifty-three. What is the use of exchange rate calculation in SAP?

Park Document

What is hold document?

Asset accounting

Deprecation posting

Low value Assets:

Asset transfers: Two types: Tr. Code: ABUMN

Asset Retirement:

How to settle internal order to AUC to cost center? OR

Legacy System Migration Workbench

FI to MM PROCESS FLOW / PROCUREMENT CYCLE / P TO P:

FI to MM CUSTOMIZATION FLOW:

SCENARIOS:

FI to MM ACCOUNTING ENTRIES WITH EXCISE:

One. GROUP TOGETHER VALUATION AREAS:

Two. DEFINE VALUATION CLASS:

FI to SD PROCESS FLOW / OTC (ORDER TO CASH FLOW)

FI to SD CUSTOMIZATION FLOW:

NEW GENERAL LEDGER

Difference between Classical Ledger and New General Ledger.

Define Ledgers for New GL Accounting

What is Leading Ledger?

What is Non leading Ledger?

Define and activate Non leading ledgers?

What is Ledger Group?

What is Representative Ledger?

NEW TRANSACTION CODES:

DOCUMENT SPLITTING

Real Time Integration of CO with FI

CO-PA (Profitability analysis):

How many CO-PA we have in SAP?

REAL TIME

Q) Derivable Documents:

GAP one

Realization phase

PRE-REQUISTION:

ENTRIES:

Change Request: is change request management which means configuration

One Types of testing:

Four) User Acceptance Testing:

Five) Negative Testing: Perform the testing with Negative values.

Primary cost element:

Secondary cost element category:

Cost center accounting:

Cost center category: Whether the cost center belongs to production, sales, administration, services, material, etc.

Statistical key figure:

Report Painter:

VALIDATION:

Substitution Rules:

Overview

The document outlines critical elements of SAP accounting and their significance in financial reporting and control. It covers foundational concepts such as company codes, profit centers, and fiscal year variants, providing insights into their applications.

Key Points

1A company in SAP represents a business entity used for financial reporting
2Profit centers are organizational units utilized for internal controlling
3The chart of accounts is a structured list of General Ledger accounts
4Fiscal year variants determine the posting periods for financial transactions
5Open item management enables tracking of line items in financial ledgers

Details

Category: Business and Finance

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