Q1. During creation of a master record, the system checks for ‘duplicates’ for the same customer which is achieved by the system through the ‘Search-Id’ (Match Code) configured on the customer’s address information. 4. 2. The system duns the open items from business partner accounts. Jumpstart your configuration of vendors, deliveries, invoices, and payments with SAP FIAccounts Payable in this E-Bite. Upper limits for various posting procedures. All invoices and deliveries are managed as per vendor requests. What are steps to define supplier? Payables are managed as per the payment program and all the payments can be made … A: Dunning is the process by which payment chasing letters are issued to customers. 1. While defining the tolerance group you will specify: Ans: ‘Dual Control’ helps to prevent unauthorized changes to the important and ‘sensitive’ fields in the master records in the system. This lock box file is sent to the payee who imports the details into the system using this electronic file. 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. Explain the ‘Account Payables’ Sub module? There are three ways to ‘select’ the alternate payee when an invoice is processed:1. What is SAP ACCOUNT PAYBLE? In contrast to a partial payment, the Residual payment clears the particular ‘open item’ against which the payment is applied. Create G/L master record for sundry creditor Account Group of Vendor And these fields are defined per Company Code and per Client.) In this case, you can still go ahead and process the payment by resorting either to a Partial Payment or a Residual payment.A Partial payment results in posting a credit to the customer’s ‘open item,’ but leaves the original item intact. Fiscal year in SAP is the way financial data is … Link ‘valuation class’ with ‘material type’ (FERT, HAWA, HALB, etc.) Top 15 tips to prepare every job interviews jobguide247. In this case, the alternate payer (3000) takes precedence over the payers (1000 and 2100) in step 1 and 2 above. Watch Now! Besides defining the above two, at the Company Code level, you will also define similar tolerances for customer/vendor tolerance group. 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 … Company Code Data comprises terms of payment, payment methods, tolerance group, clearing with vendor, dunning data (dunning procedure, dunning recipient, dunning block, dunning clerk, etc. 5. Accounts Payable process starts with Purchasing and ends payments to... 3. 2. This is defined both in absolute values and in percentages. Customer’s credit exposure is not to exceed the established credit limit. Q3 - SAP FICO interview questions on Accounts Payable & Accounts Receivable. Any change you make to the reconciliation account is prospective and not retrospective . In Payment Terms configuration, what are the options available for setting a default date ? As a result, no open item is cleared. The alternate payee (say, 1000) entered in the customer master record is the one selected by the system as the default.2. 3. 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. Click here to join our channel and stay updated with the latest tutorials and updates. What is end to end AP process explain briefly? It then saves the dunning data determined for the items and accounts affected. Ans: SAP stores the master data (details such as bank key, bank name, bank country, bank address, and so on) relating to the banks in the ‘Bank Directory’ (Table: BNKA). Sap accounts payable interview questions and answers pdf 1. Yes, it is possible, we can give the link in vendor master data under Control Data(XK02). The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee. Ans: The ‘Dunning Level’ determines the ‘dunning text’ and (if one is required) a ‘special dunning form.’ The ‘dunning program’ determines what ‘dunning level’ should be used in the ‘dunning run.’ The dunning level so determined is stored in the master record of the account when the ‘dunning letter’ is printed. SAPLearners.com is now on Telegram. 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. 1. Automatic payment programs through cheques, wire transfers, DMS etc. We help you to choose the right Python career Path at myTectra. Jumpstart your configuration of vendors, deliveries, invoices, and payments with SAP FIAccounts Payable in this E-Bite. Yes, Reconciliation account can be changes in the vendor master provided that the authority to change has been configured. 3. Vendor Master Group                                                 Customer Planning Group A house bank in SAP is identified by a 5 character alphanumeric code. All the data processing is carried out per Client. TOP 15 SAP FICO Account Payables (AP) Interview Questions 1. Posting Date is “goods receipt date”. Note that the new invoice/open item created by the system will have the new document date and new baseline date though you can change these dates. ), reconciliation account, sort key, sales area (purchasing organization in the case of vendor master), head office, etc. 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.) At what level are the customers & Vendors codes are stored ? Ans: ‘Sales Cycle’ comprises all activities including quotation/inquiry, sales order, delivery, billing, and collection.The following are the various processes within SAP that complete a sales cycle:Typically, the following are the documents created during a sales cycle: Ans: During goods issue in the sales cycle, the system is usually configured to update the relevant GL accounts automatically and to create the relevant accounting documents. E1 – Domestic vendor                                              R1 – Customer Paying by bank Question3: What is the ‘Trading Partner’ concept? The book explains the important concepts / terms used in FI, provides you with several consulting, configuration, and usage tips When a user changes this field’s content, the system requires another user (usually of higher authority) to approve this change and an audit trail is maintained of all such changes. Payment terms for vendor master can be maintained at two places i.e in Accounting View  and  Purchasing View. Vendor Account Group is to bifurcate the vendors like FI Vendors, MM Vendors, Foreign Vendors, Domestic Vendors. 3. Tag: SAP Accounts Payable for Beginers. 5. 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. 16. When goods receipt is posted in SAP the accounting entry passed is:-Inventory account Debit. What do you mean by Down Payment ? 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