BCSE ERP Financial Accounting (FI) 2

Question 1

What is a 'special G/L transaction' in SAP FI?

Accepted Answer

An alternative posting that affects the reconciliation account differently, such as down payments

Answer

Special G/L transactions are alternative postings (like down payments or guarantees) that use a different reconciliation account to separate them from normal open items.

Question 2

In SAP FI, what does 'clearing' an open item mean?

Accepted Answer

Matching a payment against an open invoice to mark both as settled

Answer

Clearing in SAP FI means matching an incoming or outgoing payment against its corresponding open invoice, marking both items as settled with zero balance.

Question 3

What is the 'fiscal year variant' used for in SAP FI?

Accepted Answer

To define the fiscal year structure, including start/end dates and number of posting periods

Answer

The fiscal year variant in SAP FI defines the company's fiscal year structure, including whether it is calendar-year or non-calendar, and the number of posting periods.

Question 4

Which SAP process is used to automatically create accounting entries when goods are received?

Accepted Answer

Automatic account determination triggered by goods receipt posting

Answer

When goods are received in SAP MM, automatic account determination triggers the corresponding FI accounting entries (inventory debit, GR/IR credit) without manual intervention.

Question 5

What is the 'GR/IR account' in SAP?

Accepted Answer

A clearing account used to match goods receipts with incoming invoices

Answer

The GR/IR (Goods Receipt/Invoice Receipt) clearing account temporarily holds the liability after goods are received until the vendor invoice is matched and cleared.

BCSE ERP - Business Certified SAP ERP Practice Test

BCSE ERP - Business Certified SAP ERP Practice Test

BCSE ERP Financial Accounting (FI) 2