FICO Interview Questions

FICO Interview Questions

Q 1: What is Dunning? How to do dunning for vendor? What are the purposes of dunning for vendors?
ANS:
Dunning is nothing but a letter which reminds customers about their Outstanding.
Dunning is done by issuing system defined letter forms to the customers.
Dunning letters are also issued to vendors if after paying advance to vendors, but vendors have not supply the material as yet.
Q 2: During integration between SAP FI and SD using T. Code VKOA, what settings are to be done?
ANS:
Assign G/L accounts to CustGrp/ MaterialGrp/ AcctKey tables using VKOA.
Q 3: On which server tickets are received? What to do after solving the tickets? How it is send to the client? Do you do any quality check as such?
Q 4: What is the integration point between FI and MM using T. Code OBYC? What G/L account is to be created?
ANS:
FI-MM integration will be happened when goods are received.
Following journal entries to be done:
a) When goods are received, journal entries are:
Dr. Inventory
                                Cr. GR/IR
b) When invoices are verified:
Dr. GR/IR
                                Cr. Vendor
It is needed to assign relevant G/L accounts OBYC by linking valuation class, valuation grouping code and general modification based on the movements and accounting entry.
Q 5: Explain SAP roadmap?
ANS:

• Project preparation
• Business Blue Print
• Realization
• Final Preparation
• Go Live & Support

Q 6: What is meant by payment advice in automatic payment program? Is the payment advice sent to the vendor or the bank? What is the significant of payment advice in APP?
ANS:
Payment Advice is the document which is sent to vendor mentioning about the details of clearing document like amount date etc. it is sent via e-mail
Q 7: What is accounting entry along with tax in MIRO?
ANS: Following journals are to be entered:
Dr. GR/IR clearing account
Dr. Cenvat clearing account
Dr. VAT receivable account
                                Cr. Vendor a/c
Q 8: Name some important tables related to SAP FICO.
ANS: Followings are important tables in SAP FICO:
BSEG
BSET
BSIS
BSAS
BSID
BSAD
BSIK
BSAK
Q 9: What T. Code to be used to see table Descriptions?
ANS: T. Code SE11
Q 10: What is a depreciation Key?
ANS:
Depreciation keys contain the calculation methods for depreciation calculation and parameters that control:

• Ordinary depreciation
• Special depreciation
• Scrap value (cutoff value)
• Calculation of interest

You can also enter a separate depreciation key for each depreciation area in the asset master record.
Q 11: What are the options available for period-end closing in Cost Center, Internal order and Profit Center?
ANS: Options are available for:
Cost Center: Distribution and assessment
Internal Orders: every month will create a provision.
Profit Center: the total amount of the dummy profit center is transferred to original profit center.
 Q 12: How a ticket (run time problem) comes to a junior SAP Consultant (at support level)? In which server he solves the ticket (run time problem)?
ANS:

• The errors or bugs forwarded by the end user to the support team by phone or email.
• Error are prioritized under severity High, Medium and Low with time limits  
• The supporting consultant provides assistance on line to the customer or organization with right solution in right time.
• The Support team take care of tickets (problems) on priority basis
• Then the error is fixed, debugged by the support consultant or the team in Development Server.
• After successfully testing, TR (Transport request) is issued and finally
• After approval from BASIS consultant, it is transferred to PRODUCTION client

Q 13: Suppose you have created a Document number 1.Then later on you have corrected it, will the document number be changed? If you do not want the document number to b e changed what should you do?
ANS:
If you don't want the document number to get changed, first PARK the document instead of saving. Once you are confirmed that your entry is right, then go for saving it. In this way the document number doesn't change. But once the document is saved, document number cannot be changed
Q 14: Explain about Automatic Payment Program (APP) and customization settings?
ANS:
There are mainly 5 steps in APP:
1) Set up payment method per country per payment transaction
2. Set up payment method per CO CODE per payment transaction
3. Set up all CO CODES per payment transaction
4. Set up paying CO CODES per payment transaction
5. Bank determination.
Q 15: In T.C: FBZP Maintain Payment Program you can get all steps in one shot, there you can customize
ANS: APP Run: T.C: F110 is the payment run.

 What are the month end activities for a consultant which end-user cannot do?
ANS:
End users works in Production system for period end/ year end activities. But a consultant has no role in Production system for period end / year end activities. If any of the period end activities are identified as unfit for end user to perform, a key user needs to be identified and can be trained by the Consultant to perform the same. There is no relation for a consultant in month end close activity.  If any thing is to be modified / alter / creative new accounts, a consultant can do his role and assign to the concern end user.
Q 16: How to configure automatic payment program?
ANS:
T- Code FBZP
Transaction code (FBZP) is used to process following payment automatically:                                                   
1) Payment method in country              
2) Payment method in company code            
3) All company codes                             
4) Paying company codes                                
5)Bank determination                                
6) House banks (fi12)                             
7) Check lots FCHI                               
8) Assign payment method to vendor master (XK02)           
9) Execution of APP. (F110).
Q 17: Why do we use Account groups?
ANS:
Accounts groups are used to control Master records
Q 18: What are G/R entries?
ANS:
G/R Entries are:
a) When materials are received entries are:
Dr. Inventory material a/c
                                Cr. GR/IR clearing a/c
b) After Invoice verification of material receipt:
Dr. GR/IR clearing a/c
                                Cr. vendor a/c
Q 19: What types of tickets are handled in production support? What is the most difficult ticket for which you have taken a lot of time to resolve?
ANS:
Tickets are:

• High level,
• Medium level
• Low level

Q 20: What is the T. Code for clearing vendor invoices?
ANS:
T. Code is : F.13
Q  21: Explain some business process for payment
ANS:
First business process for payment:
Invoice posting:
Dr. Expense a/c
                                                Cr. Vendor
Automatic payment:
                                Dr. Vendor A/C
                                                Cr. Bank clearing account
Once the amount has been cleared from original bank account
                                Dr. Bank clearing account
                                                Cr. Original bank account
Other business process is:
Invoice generation through Sales Order:

• Create sales order transaction code VA01
• Create Billing through VF01
• Create View billing through SP01

Q 21: How will you configure VAT in SAP?
ANS:
1) Define Tax Procedure (OBYZ)
2) Assign country to calculation procedure (OBBG)
3) Define Tax codes for sales & purchases (FTXP)
4) codes 2 types A code-sales/output, V-purchase/Inputtax
5) create G/L Acct (FS00) VAT payable
6) Assign tax codes to G/L Acct (OB40)
The above steps are configuration completed after TAX CODES are using in INVOICE POSTING.
Q 22: What is excise sales tax?
ANS:
It is imposed on total sales
Q 23:  What are posting keys for the SALES INVOICE?
ANS:
The posting keys for sale invoice is:

• 22 (Sales invoice) for debit
• 28 (incoming payment) for credit

Q 24: What do you enter in Company CODE Global settings?
ANS:

Company Code Global settings are:

1. Company code-
2. Company name-
3. City-
4. Country-
5. Currency-
6. Language-

Q: What is GAP analysis? Explain
ANS:

• GAP Analysis is to find difference between AS-IS and TO-BE. It is carried out to know which areas are remaining untouched as far as project is concerned. In short GAP Analysis provides documentation on areas that still needs to be worked out.
• GAP Analysis is to measure from what you are currently performing against on how should you have been performing.
• EXAMPLE :In customer master data the client requirement needs legacy customer number which can be solved with user exit .
• GAP analysis is done in blueprint stage. It aims to understand what can be done with the standard sap and how the client actually wants a particular scenario to be processed.

Q 25: How to configure automatic payment program?
ANS:
APP is done for making the payment to multiple vendor automatically in one shot. There are 6 steps to configure APP using T-Code FBZP:-

1. All Company Code :- Define sending & paying Company code. Special GL transaction also to be defined.
2. Paying Company Code:- Define minimum amount for incoming and outgoing payment.
3. Payment method per country:-Create the payment method in country as per company requirement like cheque, wireless and bank transfer.
4. Payment method per company code:- Define payment method for company code and minimum and maximum amount for each payment method.
5. House bank Creation:- Create House Bank and Account ID as many as required for APP purpose and  then GL accounts are assigned to House Bank.
6. Bank Determination:-Define ranking order with the help of house banks.

APP is run using  T-Code: F110.
 Q 27: What is the T. CODE for up loading of customers and vendors, A/C balance in LSMW?
Q 28:How to calculate interest on customers? What customization is to be done to calculate interest on customers?
Ans:

1. OB46- define arrears interest indicator (p type)
2. OB82- define arrears interest calendar type (g type)
3. OBAC- define reference interest indicator
4. OB81- define time dependent terms
5. OB83- enter intrest rates
6. OB84- define form - f_duzi_01
7. FS00- create G/L accounts, interest received a/c ( in other income group)
8. XD01- create customer master (assign interest indicator in customer master in accounts info tab)
9. F.47- customer interest run

Q 29: What are the steps configure automatic payment program?
ANS:
There are five steps in app configure using T. Code: FBZP

1. All company code
2. Paying company code
3. Payment method to country
4. Payment method to company code
5. Bank determination

 Q 30: What are new features in ECC6 in sap FICO?
ANS:

1. New G/L
2. Document splitting and
3. Parallel accounting

 Q 31: What is activity type?
ANS:
Classification of an activity and the data structure.
Example:

• Number or quantity of units produced
• Hours
• Machine times
• Production times

Activity type classify the activities performed or produced by cost center. Example:

• Cutting,
• Polishing,
• Painting,
• Packing