SAP FI FAQs – Outgoing Payment Processing
1.   Discuss the steps involved with configuring and running the payment program. A)   Payment Program Configuration - Set up paying...
Finance (FI)
SAP FI FAQs – Invoice Verification
1.   Invoice verification provides a link between which modules? Invoice verification provides a link between Materials Management and the Financial...
SAP FI FAQs – Procurement Cycle and Documents
1.   Name the five major activities (in the order they occur) in the Procurement Cycle. •   Purchase Requisition (MM) •  ...
SAP FI FAQs – Dunning
1.   What is dunning? The process of notifying customers/vendors that they have overdue items. There are varying levels that can...
SAP FI FAQs – Incoming Payment Processing
1.   Explain the purpose of the payment advice functionality. Payment advice notes are early notices containing detailed information about incoming...
SAP FI FAQs – Sales Cycle and Documents
1.   What are the five steps in the Sales Cycle and what Modules do they originate from? Sales Order :...
SAP FI FAQs – Line Item Configuration
1.   The client does not like SAP’s standard document line layouts. Explain how you would assist the client in developing...
SAP FI FAQs – Display Accounts and Documents
1.   What is the purpose of the assignment field? The assignment field is used to sort line items when they...
SAP FI FAQs – Docuement/Account Maintenance
1.   Under what circumstances can a document be changed? Most fields in a document can be changed up until it...
Understanding Preliminary Document in SAP
A preliminary document posting allows you to enter and store incomplete documents without carrying out extensive entry checks and parked...
SAP FI FAQs – Reference Documents
1.   List the different types of reference documents Sample documents, Account assignment model (Complex Postings) Account assignment template (Enjoy Postings)...
SAP FI FAQs – Document Entry
1.   When entering data, what steps does the system follow? User defined substitutions are inserted in the appropriate line item,...
SAP FI FAQs – Document Configuration
1.   What is the document principle? The document principle requires that one FI document is created for every business transaction. ...
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...
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...
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....
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...
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...
SAP Finance FAQs – Series 4
When setting up company code global parameters, what are the general data the configurer will need to define? What are...
SAP Finance FAQs – Series 2
1. What are the two major areas within the SAP environment? Describe each. (1) Configuration - Maintenance of settings in...
SAP Finance FAQs – Series 1
1. What is the SAP Financial Accounting (FI) module? The SAP Financial Accounting (FI) Module provides integrated, on-line, real-time functionality...
