How is Tax Calculated in SAP?
SAP uses a technique called Condition Method to calculate taxes (except Withholding Tax) in the system. The system makes use...
Finance (FI)
Open/Closing Posting Periods
Postings in SAP are controlled by the ‘opening’ or ‘closing’ of posting periods. Normally, the current posting period is open...
Fiscal Year and Fiscal Year Variant
A fiscal year is the accounting period, which normally spreads over 12 months. Financial statements are drawn for a fiscal...
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?...
SAP Cash Management FAQs – Manual Bank Statement
1.   Does the bank statement processing functionality affect only the CM submodule? The bank statement processing is a special CM...
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...
SAP Asset Accounting – Information Systems
1.   True or False? - The Asset Accounting Information System is a hierarchical structure containing standard reports creating a report...
SAP Asset Accounting – Valuation and Periodic Processing
1.   What is periodic processing, and what is it used for in Asset Accounting? Periodic processing comprises the tasks that...
SAP Asset Accounting FAQs – Asset Transactions
1.   Define a transaction type. During the life of an asset there are a number of changes that affect the...
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...
SAP FI FAQs – Special Topics
1.   Answer True or False to the following: True/False. Multiple currencies may be used within a single cash journal. True/False. ...
SAP FI FAQs – Taxes
1.   Briefly explain the difference between a value-added tax and sales and use tax. Value-added taxes are assessed on the...
SAP FI FAQs – Financial Statements
1.   Discuss the concept of hierarchy levels with regard to the balance sheet in SAP. There are ten levels possible...
SAP FI FAQs – Closing
1.   Discuss the monthly closing process in SAP. The only technical requirements of period-end closing are to close the current...
SAP FI FAQs – Currencies
1.   How can a document obtain exchange rate information? •   From the Exchange rate table •   From a manual entry...
