SAP FI FAQs – Overview of Master Records

1.    There are three primary types of data in the system.  What are they?  Describe each.

Master Data is constant over a long period of time.  Transaction Data is created by a transaction in the system.  Transactions can be created manually or automatically.  Table Data is the data that is specifically configured for a client’s business.

2.    Identify each of the following as Master Data or transaction data:

• Invoice – (Transaction)
• Vendor – (Master)
• Goods Receipt – (Transaction)
• Material – (Master)
• GL Account – (Master)
• GL Account Posting – (Transaction)

3.    Are master records accessed from the configuration side or the application side in SAP?

Typically the Application Side; however, some records (e.g., bank and G/L) are accessible through the IMG

4.    What are the two levels for creating customer and vendor accounts?

Client and Company Code

5.    What are the two levels for creating GL accounts?

Chart of Accounts and Company Code

6.    XYZ client indicates they would like an expense account set up to be used by only 2 of their 3 subsidiaries (Co. Code 001 & Co. Code 002).  Each subsidiary is set up as a separate company code in SAP.   XYZ has only one chart of accounts.  How can this be achieved?  Please explain.

The expense account will be setup at the chart of accounts level for client XYZ.  In addition this expense account will be set up at the company code level for company codes 001 and 002.

If you like this post, you may as well like these too:

1. SAP FI FAQs – Vendor Master Records 1.    What are the three segments of a vendor master record?  Give an example of data stored at each level. General data – account name, address Company code level –...
2. SAP FI FAQs – G/L Account Master Records 1.    Discuss the concept of account groups and how they are used with respect to general ledger master data. The account group contains a number interval specified by a lower...
3. SAP FI FAQs – Customer Master Records 1.    What are the three segments of a customer master record?  Give an example of data that is stored at each level. General data – account name, address Company code...
4. SAP Controlling FAQs – Master Data 1.    List the five types of master data in cost center accounting (CCA). •    Cost centers •    Cost elements •    Activity types •    Statistical key figures •    Resources 2.    What...
5. SAP FI FAQs – Bank Master Record 1.    What is a house bank?  What information does it contain? A house bank refers to the bank a company uses for receivables and/or payments.  It is any bank with...
6. SAP Master Data Management (FAQs) SAP MDM FAQ’s Q: What is SAP Master Data Management? A: SAP Master Data Management (SAP MDM) enables information integrity across the business network, in a heterogeneous IT landscape. SAP...
7. SAP Asset Accounting FAQs – Master Data 1.    Describe the function of depreciation areas. Depreciation area 01, which can be set up as the book depreciation, can make automatic postings to the general ledger.  Other depreciation areas...
8. SAP Controlling FAQs – Overview 1.    Describe the major differences between Managerial Accounting and Financial Accounting. Managerial Accounting Generally no constraints. Future orientation Data is used by managers at various levels within the company. Financial...
9. SAP Asset Accounting FAQs – Old Assets Data Master 1.    Base on quantity, what are the three methods of old asset data transfer?  In what status does the company code have to be so that the transfer is possible?...
10. SAP Cash Management FAQs – Overview 1.    What is Cash Management? Cash management is a sub-module of Treasury that may be utilized as a planning tool for cash control and for reliable, up-to-date liquidity analysis of...
11. SAP Cash Management FAQs – Check Deposit Overview 1.    True/False? The SAP principle for the bank statement processing and the check deposit processing is the same. 2.    True/False? The check deposit processing cycle is completed with the bank...
12. ABAP Programs: Records and internal tables REPORT ZSOURCE0407. * Records (or structures) consist of a fixed number of componentsDATA: BEGIN OF CUSTOMER, ID(8) TYPE N, NAME(25), TELEPHONE(12), END OF CUSTOMER. * Working with the different components...
13. Material Master – Master data Configuration and PR Understand about : MM Module data flow MM Module Master Data Requisition RFQ Quotation Release Strategy Download the document on...