|1. Tell me about FI Organizational structure?
Controlling area1 Controlling Area
Co. Code 1 Co. Code 2
Bus area 1 Bus area2 Bus Area3 Bus Area 4
2. How many Normal and Special periods will be there in fiscal year,
why do u use special periods?
Ans: 12 Normal posting period and 4 special periods are in the fiscal
year which can be used for posting tax and audit adjustments to a closed
3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based on a/c types considering
GL Accounts. Tr. Code. OB52.
4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
Name of the company
5.What is document type, and what does it control? Examples.
Ans: Document type is nothing vouchers containing line items. Several
business transac! tions can be identified within a particular document
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document
6. What is posting key and what does it control?
Ans: These are special classification keys. Two character numerical
key it controls the entry of line items.
Posting key determines Account type, Debit/credit posting, Field status
7. What is field status group, what does it control?
Ans: FSG is mandatory field in ! GL Creation. You use this field to
define which fields are displayed when you post business transactions to
a G/L account.
A field may have one of the following statuses.
8. What is chart of account and how many charts of accounts can be
assigned to a company?
Ans: Chart of account is a list of all G/L accounts used by one or
several company codes.
For each G/L account, the chart of accounts contains the account number,
account name, and the information that controls how an account functions
and how a G/L account is created in a Company code.
You have to assign a chart of accounts to each company code. This chart
of accounts is the Operating chart of accounts and is used for the daily
postings in this company code.
You have the following options when using multiple company codes.
You can use the same chart of accounts for all company codes
If the company codes all have the same requirements for the chart of
accounts set up, assign all of the individual company codes to the same
chart of accounts. This could be the case if all company codes are in the
In addition to the operating chart of accounts, you can use two additional
charts of accounts If the individual company codes need different charts
of accounts, you can assign up to two charts of accounts in addition to
the operating chart of accounts. This could be the case if company codes
lie in multiple countries.
The use of different charts of accounts has no effect on the balance
sheet and profit and loss statement. When creating the balance sheet or
the profit and loss statement, you can choose whether to balance the co!
mpany codes which use different charts of accounts together or separately.
9. What does definition of a chart of account contains?
Ans: chart of account key
Length of the GL Account Number
Group chart of accounts (Consolidation)
10. Can one COA be assigned to several companies?
Ans: yes. One COA can be assigned to several companies.
11) What is account group and what does it control?
Ans: Account group determines which fields you can configure on the
G/L master record. It is necessary to have at least two one for B/S and
another one for P&L a/c.
It controls the Number ranges of GL A/C.
The status of fields of the master record of GL belongs to company
12) What is reconciliation account; can you directly enter documents
in that a/c?
Ans: When you p! ost items to a subsidiary ledger, the system automatically
posts the same data to the general ledger. Each subsidiary ledger has one
or more reconciliation accounts in the general ledger.
We canít use reconciliation account for direct postings.
13) How do you control field status of GL master records and from
where do you control!
Ans: Field status variant is maintained all FSGs.
14) What are the segments of GL master record?
- COA Segment
Nature of account
GL a/c long text
Group Account Number
- Company code segment
Reconciliation a/c for a/c type
15) What does Field status group assigned to a GL master record controls?
Ans: It controls the account assignments that are made to the account.
Specifically the field status group controls whether postings to cost centers,
internal orders, profitability segments and so on are required, not allowed
(suppressed), or optional.
16) What is Country and operational chart of account? Why do you
use group chart of account?
Ans: Operational chart of account Ė Day to day activities It is mandatory.
Country COA Ė Itís used for legal specific requirement of each country.
Itís additional and optional.
Group COA used for consolidation of Company codes. This is for group
17) What are all the segments in a Customer/Vendor master record?
Ans: Segments in Customer
Segments in Vendor
- General Data segment
General data segment
- Company code segment
Company code segment
- Sales area segment
Purchasing organization Segment
18) What is open line item management? What do you mean by clearing
open line items?
Ans: Open item management is further reconciliation function. OIM allows
you to display the open and cleared items and amounts in an account. OIM
should be used if an offsetting entry is made for every line item posted
in the account. The a/c is reconciled and cleared against another account.
Ex. Salary clearing account and GR/IR Clearing account.
19) What is residual payment and part payment?
Ans: Residual payment it clears original invoice with incoming amount
and create new line item for remaining outstanding amount.
Partial payment it leaves the original invoice amount and creates new
line item for incoming amount.
20) What is internal and external number ranges?
Ans: Internal Number Ranges: Doc. No will be provided by the system
automatically in serial order allotting the next available progressive
number. The number must be in numerical.
External Number ranges: Doc. No will be given manually by the end user.
System will not lock no automatically in this case. User can pick the number
randomly. Number may be an alpha numeric.
*-- Shaannthi S.