4/23/2018 Top 16 SAP FICO Interview Questions - Zarantech

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Top 16 SAP FICO Interview Questions

CATEGORY: SAP FICO Training (Http://Www.Zarantech.Com/Blog/Category/Sap-Fico-Training/)
POSTED: Mar 01, 2017 BY: admin

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1. List down the modules that FICO is related to.
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Material management
questions/top-16-sap- co-interview-questions/)
Human resource
Sales and distribution
Controlling of nancial transaction
Production planning

2. In FICO, what do you use to determine the transaction type?

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A two digit numerical is used to determine the transaction type entered in the line item. The function of the
posting key is to determine the eld status of transaction, the account types and the types of posting
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(credit or debit)
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3. Mention the organizational elements in SAP FICO.

Following are the organizational elements in SAP FICO:


Business area
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Company code
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Functional area and
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Chart of account
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4. Give a short description about validation and substitution.

Under the documentation and line item levels, for each functional area in SAP, validation or substitution is
de ned (like controlling, assets etc.)

5. Name the application areas using validations and substitutions.

Asset accounting (AM)

Consolidation (CS)
Financial accounting (FI)
Special purpose ledger (GL)
Cost accounting (CO)
Real estate (RE)
Project system (PS)
Pro t center accounting (PC)

6. Explain about the payment methods that can be opted to make vendor invoice payments

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4/23/2018 Top 16 SAP FICO Interview Questions - Zarantech

There are two types of payment methods available to make vendor invoice payments such as Manual
Payment (no output medium like cheques etc. is used) and Automatic Payment (Data Medium Exchange
(DME), wire transfer and cheques)

7. Define field status group

The eld user group is used to control the elds that come up during the time when a user involves in any
transactions. The eld status group will be stored in Financial General Ledger (FIGL) master.

8. What are the steps to create credit control area in SAP?

To create credit control area in SAP, you can use the transaction code OB45 or path. Proceed with the
following steps:

SPRO> enterprise structure >maintain structure>de nition> nancial accounting>maintain credit control
area and then enter the following description

Update
Name of the credit control area in SAP
Currency
Description
Credit Limit
Risk Category
Fiscal Variant
Rep group

9. How does the creation of ‘Document type’ serve in SAP?

The creation of ‘Document type’ serves the following purposes:

A document’s number range is de ned by it

Various types of accounts that are shortlisted for posting are controlled by the creation of document
type. Some of such accounts are Vendor, Normal GL account, Customer, and Assets

10. Give some of the instances of tolerance that can be defined for Logistic invoice verification.

Moving average price variances, small di erences, price variances and quantity variances can be quoted as
the instances for logistic invoice veri cation.

11. What is SAP FICO?

SAP FICO  Stands for  FI (Financial Accounting) and CO (Controlling).  SAP FICO  is the important module of
ERP and both FI and CO modules that store the nancial transactions data.

12. What is COA? What is the relevance of defining chart of account?

COA is chart of account. It is a list of GL accounts and COA key contains:

Name
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator

13. What is posting key? What is its role?

It controls the line item of GL entry debit and credit.

14. What do you enter in Company code Global settings?

Four-digit alphanumeric key that includes Name of the company, City , Country , Currency , Language and
Address
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15. Can one COA be assigned to several companies?

Yes

16. What is residual payment and part payment?

Residual payment clears original invoice with incoming amount and create new line item for remaining
outstanding amount.

Part payment leaves the original invoice amount and creates new  line item for incoming amount.

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