Reg:Interview Quetions

[Former Member]

HI all,

Plz give me answers for follwoing?

What is GR/IR account, its significance in sap?

In APP why we will give the next run date (in general we will

give tomorrow's date as next run date) even though it is optional ?

Difference b/w grace period and minimum days in arrears in dunning configuration?

Where group chart of accounts assigned. what is purpose and use of country specific chart of accounts in sap?

What warning the system will give while we configuring asset accounting in live system?

What is smoothing and depreciation cycle in asset accounting?

What is the organizational structure in asset accounting?

What is account clearing?

What is period end and month end?

What is use of asset sub number , why it is used in sap?

While maintaining depreciation key why we will assign all the methods( declining balance method, period control method) to one depreciation key even though system will calculate dep. for one method only?

In APP , how the wire transfer method will be configured ?

What is business process of the client?

What are the min. required fields to maintain master data in sap?

[Former Member]

Days in arrears which at least one item in this account must have for a dunning notice to be created. These minimum days in arrears have no influence on calculating the days overdue.

Minimum number of days in arrears, referring to the due date for net payment, that an item must show in order to reach a certain dunning level. No grace periods are taken into consideration for calculating the days in arrears.

Grace periods per line item which are taken into consideration during determination of the due date for the dunning run.

An item whose days in arrears are smaller or identical to the grace periods, is taken as not due for that dunning notice.

Note

These grace periods are not taken into consideration when calculating the dunning level of the item. It is made exclusively by means of the days in arrears of the item.

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This date is needed in order to check the due date of payables. If an item is already overdue on the date of the next payment run, or would lose cash discount, the system pays the item in this payment run.

The general rule for receivables is that they cannot be paid until the baseline date for payment has been reached. Such items are paid on or after the baseline date for payment, regardless of when the next payment run is scheduled for.

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If Smoothing option is selected the difference amount of depreciation re-run is divided equally among the remaining periods in the fiscal year and posted in addition to the depreciation for that period. If we don't select this the difference amount of depreciation re-run is posted in the last period for which depreciation is run.

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Clearing is a procedure by which the open items belonging to one or more accounts are indicated as cleared (paid).

Open items can be cleared if the credit amount used to clear the item equals the debit amount of the item to be cleared.

For example, an invoice of Rs.one lakh can be cleared by a payment amount of Rs. One Lakh

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Assign points if useful

Regards.

[Former Member]

I am answering my leve best... all the best Janardhan...

<b>What is GR/IR account, its significance in sap?</b>

In SAP, the moment you save the MIGO transaction, it automatically generates FI document. It will create following entry:-

Raw Material Stock A/c Dr

To GR/IR Clearing A/c

In MIGO transaction itself, you can post Excise by choosing Capture and Post Excise Invoice. The FI document will be as follows:

RG23A Basic Excise Duty A/c Dr

RG23A Education Cess A/c Dr

To CENVAT Clearing A/c

After doing MIGO, you execute MIRO. In this transaction also, SAP will generate FI document automatically. The entry will be as follows:-

GR/IR Clearing A/c Dr

CENVAT Clearing A/c Dr

VAT Setoff A/c Dr

To AP-Vendor A/c

Reversion of entry of material purchase can be in entered on rejection of material partially or wholly. In this case, you will

have to raise a debit note on the vendor. But before raising debit note, you have to first ensure that the Invoice verification of the material (to be rejected) is complete at the time of purchase.

Purchase documents cannot be reversed directly like pure financial document entry. To reverse the material document,

following procedure should be followed.

1) Create Return Delivery (MIGO)

2) Reverse the Excise Duty Posted (J1IS)

3) Raise the debit Note. (MIRO)

<b>In APP why we will give the next run date (in general we will

give tomorrow's date as next run date) even though it is optional</b> ?

To run the APP program with effect from such specific date.

<b>Where group chart of accounts assigned. what is purpose and use of country specific chart of accounts in sap?</b>

COA, It defines the structure of G/L accounts. It is a list of G/L accounts used by one or more company codes. In that Chart of account you have to specify the length of G/L accounts.

In SAP all the entries are document oriented. so from the balance sheet of any entry you can identify the root of an entry. so it's like a flow chart in computer terms.

There are threee types of Chart of Account are there.

1.Operative Chart of Accounts

2.Group of Chart of Accounts

3.Country Chart of Accounts.

1.Operative Chart of Accounts is a Chart of Account you use for the company code.

2.For different chart of accounts(operative COA) for different company code, you can group the chart of account into one chart of account for internal reporting, but cross company code controlling is not possible, because of different chart of account for different company code.

3.For different country you can have different reporting system. so for different company code you can have different company code, but can have same Operative Chart of account, so cross company code controlling is possible.

OR

To summarise, here is the COA setup in SAP:-

1. Operative chart of account - It is the main chart of account assigned to each company code in OBY6.

2. Group chart of accounts - This is structured in accordance with requirements pertaining to Consolidation

3. Country-specific charts of accounts - These are structured in accordance with legal requirements of the country in question.

Standard COA is a sample COAs provided by SAP. like INT, CAUS etc. You can use them as your operative COA or can create your own operative COA from these standard COA.

Corporate Group COA is same as Group COA.

<b>What is period end and month end? </b>

In any organisation, some operations/activities must be their which are subject to common at aevery end of the period. Say if the period is a month, month end activities means ... monthly depreciation calculation, salaries payable, rent payable per month etc.. for year end also there are somany operations in any organisations some of period end operations are....

1 Execute Report for InterCompany Activity & Journal Entries

2 Open posting period for next yr

3 Run Business Area's Assignment report.

4 Review list of recurring journal entries

5 Execute Recurring Entries for A/R, A/P, G/L

6 Process Parked A/R, A/P, G/L accounting documents

7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire

8 Run Depreciation in Test Run and post

9 Verify Display Log for Depreciation Test Run

10 Capitalize AUC Assets if needed

11 Enter Payroll Data to SAP

12 Verify Depreciation Balances with GL balances

13 Post Depreciation

14 Execute Asset History Report, and retire assets if needed

15 Adjust specific depreciation areas if necessary

16 Reconcile AM subledger with GL

17 Check Bank Data

18 Review AR Open Items

19 Review AP Open Items

20 Execute Pending Invoices

21 Clear Open Item for GRIR, freight

22 Reconciliation of Financial Documents and transactional figures

23 Open new CO Posting Period

24 Compare current (cost estimates) with last current price (Moving Avg)

25 Update current cost price to material master price field.

26 Process Freight charges, Match SD freight to actual

27 Review Internal Order Postings

28 Settle All Orders

29 Verify All Post Goods Issue have been Invoiced (Billing Due List)

30 Review SD Billng Doc from prior mth that have not yet been released to accounting

31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP

32 Reconcile PI Inventory with SAP

33 Perform Manual Adjustment if needed

34 Verify balance of the GR/IR account

35 Post Accruals and Deferrals

36 Clearing of Cancelled Documents

37 Check Profitability Segment Adjustment

38 Aging Report-Reconcile GL balances with subledger balances AP

39 Check the check run numbers

40 Bank reconciliation Data

41 Enter Tax Journal Entry

42 Reconcile GL balances with subledger balances AR/MM/AP

43 Display Balance Sheet Adjustments

44 Post Balance Sheet Adjustments

45 Post Foreign Currency Valuation (foreign exchange)

46 Check generic cost centers for posting with wrong accounts

47 Correct wrong postings on generic cost centers

48 Check Validation dates for Cost Centers, Cost Elements, CO area

49 Check COGI--for both month end and year end

50 Doubtful receiviables

51 Verify In-transist Inventory

52 Reconcile PA to G/L

53 Post Cost Centre Assessments and Distributions

54 Run CO-FI Reconciliation to balance

55 Run BW reports P&L and Balance Sheet

56 Maintain CO yr variant

57 Fiscal Yr Balance carryforward AP/AR/AM

58 Fiscal Yr Balance carryforward CO

59 Fiscal Yr balance carryforward FI

60 Fiscal Yr balance carryforward PCA

61 Set Document number ranges - FI - new year

62 Set Document number ranges AP/AR - new year

63 Generate Financial statement Reports

64 Change Fiscal Year For Assets

65 Year end Closing-- Asset Accounting--final for year end

66 Close CO Posting Period

67 Close Prior A/R Posting Period

68 Close Prior A/P Posting Period

69 Close Prior MM Posting Period

70 Reverse accruals and deferrals for the new month

71 Reconciliation of Financial Documents from old fiscal year and new fiscal year

72 Load Balances, Budget Data for Cost centers, sales

73 Update Retained Earning Account , balance carry fwd

in SAP total operations are also devided like day-end, month-end, year-end etc.,,...

<b>What is use of asset sub number , why it is used in sap?</b>

In Asset accounting all the fised assets are first divided in to groups (generally called Blocks in Tax language), and every asset group consists similar assets which has same rate of depreciation. So we have to give subnumbers to each and every asset in any group to easy identify.... (make sure from any others)

<b>What is business process of the client?</b>

Business process means nothing but the FIVE stage implementation proces, which cosists...

Project preparation, Business Blue print preparation, Realisation, Final Project preparation and Go-Live & support.

If u satisfied with my explaination, give me points...

Dasharathi