Ap ar questions
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1. Customer and vendor codes are stored at the client level, allowing any company code to use the codes. 2. Vendor invoice payments can be made manually or automatically through payment programs that use checks, wire transfers, or other payment methods. 3. Configuring the automatic payment program involves setting up payment transaction details, payment methods, bank account information, and payment runs.
Ap ar questions
- 1. Accounts Receivable and Accounts Payable At what level are the customer and vendor codes stored in SAP? The customer and vendor code are at the client level. That means any company code can use the customer and vendor code by extending the company code view. Howare Vendor Invoice payments made? Vendor payments can be made in the following manner: Manual payments without the use of any output medium like cheques etc. Automatic Payment program through cheques, Wire transfers,DME etc. Howdo you configure the automatic payment program? The following are the steps for configuring the automatic payment program:- Step 1 Set up the following: Co. code for Payment transaction Define sending and paying company code. Tolerance days for payable Minimum % for cash discount Maximum cash discount Special GL transactions to be paid Step 2 Set up the following: Paying company code for payment transaction Minimum amount for outgoing payment No exchange rate diff Separate payment for each ref Bill/exch payment Form for payment advice Step 3 Set up the following: Payment method per country Whether Outgoing payment Check or bank transfer or B/E Whether allowed for personnel payment Required master data Doc types Payment medium programs
- 2. Currencies allowed Step 4 Set up the following: Payment method per company code for payment transactions Set up per payment method and co. code The minimum and maximum amount. Whether payment per due day Bank optimization by bank group or by postal code or no optimization Whether Foreign currency allowed Customer/Vendor bank abroad allowed Attach the payment form check Whether payment advice required Step 5 Set up the following: Bank Determination for Payment Transactions Rank the house banks as per the following Payment method, currency and give them ranking nos Set up house bank sub account (GL code) Available amounts for each bank House bank, account id, currency, available amount Value date specification Where do you attach the check payment form? It is attached to the payment method per company code. Where are Payment terms for customer master maintained? Payment terms for customer master can be maintained at two places i.e. in the accounting view and the sales view of the vendor master record. Which is the payment term which actually gets defaulted when the transaction is posted for the customer (accounting viewor the sales view)? The payment term in the accounting view of the customer master comes into picture if the transaction originates from the FI module. If an FI invoice is posted (FB70) to the customer, then the payment terms is defaulted from the accounting view of the customer master. The payment term in the sales view of the customer master comes into picture if the transaction originates from the SD module. A sales order is created in the SD module. The payment terms are defaulted in the sales order from the sales view of the customer master.
- 3. Where are Payment terms for vendor master maintained? Payment terms for Vendor master can be maintained at two places i.e. in the accounting view and the purchasing view. Which is the payment term which actually gets defaulted in transaction (accounting viewor purchasing view)? The payment term in the accounting view of the vendor master comes into picture if the transaction originates from the FI module. If an FI invoice is posted (FB60) to the Vendor, then the payment terms is defaulted from the accounting view of the vendor master. The payment term in the purchasing view of the vendor master comes into picture if the transaction originates from the MM module. A purchase order is created in the MM module. The payment terms are defaulted in the purchase order from the purchasing view of the vendor master. Explain the entire process ofInvoice verification from GR to Invoice verification in SAP with accounting entries? These are the following steps: A goods receipt in SAP for a purchased material is prepared referring a purchase order. When the goods receipt is posted in SAP the accounting entry passed is:- Inventory account Debit GR/IR account credit A GR/IR (which is Goods receipt/Invoice receipt) is a provision account which provides for the liability for the purchase. The rates for the valuation of the material are picked up from the purchase order. When the invoice is booked in the system through Logistics invoice verification the entry passed is as follows:- GR/IR account debit Vendor credit Howare Tolerances for Invoice verification defined? The following are instances of tolerances that can be defined for Logistic Invoice Verification. c. Small Differences d. Moving Average Price variances e. Quantity variances f. Price variances Based on the client requirement, the transaction can be “Blocked” or
- 4. Posted with a “Warning” in the event of the Tolerances being exceeded. Tolerances are nothing but the differences between invoice amount and payment amount or differences between goods receipt amount and invoice amount which is acceptable to the client. Can we change the reconciliation account in the vendor master? Yes. Reconciliation account can be changed in the vendor master provided that the authority to change has been configured. Normally we should not change the reconciliation account. What is the impact on the old balance when the reconciliation account in the vendor master is changed? Any change you make to the reconciliation account is prospective and not retrospective. The old items and balances do not reflect the new account only the new transactions reflect the account. There is an advance given by the customer which lies in a special GL account indicator A. Will this advance amount be considered for credit check? It depends on the configuration setting in the special GL indicator A. If the “Relevant to credit limit” indicator is switched on in the Special GL indicator A the advances will be relevant for credit check,otherwise it will not be relevant. In payment term configuration what are the options available for setting a default baseline date? There are 4 options available:- 1) No default 2) Posting date 3) Document date 4) Entry date What is generally configured in the payment term as a default for baseline date? Generally document date is configured in the payment term as a default for base line date. Howdo you configure a special GL indicator for Customer? You can use an existing special GL indicator ID or create a new one. After creating a special GL indicator id, update the chart of accounts and the Reconciliation account. Also as a last step you need to update the
- 5. special GL code. The special GL code should also be marked as a Reconciliation account. Switch on the relevant for credit limit and commitment warning indicators in the master record. Question 1: Additional Log WhatistheadditionallogintheAPpaymentprogramandhowcanit beusedfortroubleshooting ? A: Theadditionallogisanimportantsettingwhenperformingapaymentrun.Theamountofinformationstoredinthelogcanbeselected Howcanyoulinkcustomerandvendormasterrecordsandwhatisthepurposeofdoingso? A: Onthecustomermasterthereisafield“vendor”andlikewiseonthevendormasterthereisafield“customer”.Byenteringthesemasterdatanumbers,alinkcan becreatedbetweentheAP/ARsubledgersforuseinthepaymentprogram,dunningroutine andtheclearingofopenitems.Forexampleinthepayment program,ifaspecificbusinesspartnerisyourvendorbutalsoyourcustomer,linking theirmasterrecordstogetherwillallowtheopenARinvoicestobeoffset againsttheoutstandingAPinvoices PAYMENT TERM: Whataretermsofpaymentsandwherearetheystored? A: Paymenttermsarecreatedinconfigurationanddeterminethepaymentduedateforcustomer/vendorinvoices.Theyarestoredonthecustomer/vendor masterrecordandarepulledthroughontothecustomer/vendorinvoicepostings. Theduedatederivedviathepaymentcanbechangedoneachindividual invoice ifrequired Que stion 4 : Ba se line Da te Whatismeantbya“baselinedate”inSAPARandAP? A: Thebaselinedateisthedatefromwhichthepaymentterms(specifiedinIMGtransactionOBB)applyUsuallythisisthedocumentdateontheinvoicebut canalsobethedateofentryorpostingdatefromtheledger ONE TIME VENDOR: Whatareone-time vendors? A: Incertainindustries(especiallywherethereareahighvolumeofcashtransactions),itisnotpracticaltocreatenewmasterrecordsforeveryvendortrading partner.One-timevendorsallowforadummyvendorcodetobeusedoninvoiceentryandtheinformationwhichisnormally storedinthevendormaster (paymentterms,addressetc),iskeyedontheinvoiceitself AP VENDOR GROUP: WhatfactorsshouldbeconsideredwhenconfiguringanAccountsPayableVendorGroup ? A: Thefollowing aredeterminedbythecreationofanewAPvendorgroup(transactionOBD3) •
- 6. Whetherthevendorsinthisgroupareone-timevendors–i.e.nomasterrecordiscreatedbuttheaddressandpaymentsdetailsareenteredagainsteachinvoiceto thisvendor • Fieldstatusgroup–whichfieldsonthevendormasteraresuppressed,optionalormandatory whencreatingvendors belonging tothis groupAdditionally thevendornumberrangesdefinedintransaction XKN1needto beassignedtoyour vendoraccountgroupsintransaction OBAS.Thedecisionneedstobemadewhethertoassignanexternalnumberrange(wheretheuserchoosesthemasterrecordnumber)oraninternalnumber range(systemassigned) PAYMENT RUN: NamethestandardstagesoftheSAPPaymentRun. A: Thefollowing stepsareusuallyperformedduringthepaymentrun • Enteringofparameters(companycodes,paymentmethods,vendoraccountsetc) • ProposalScheduling –thesystemproposeslistofinvoicestobepaid • Paymentbooking–thebookingoftheactualpaymentsintotheledger • Printingofpaymentforms(chequesetc)VariationsontheabovemaybefoundindifferentSAPcustomers,buttheinterviewerwillbelooking forthebasissteps above PAYMENT METOHDS: Whatisthepurposeofpaymentmethodsandwherearetheystored? A: Generallypaymentmethodsareonedigitalphanumeric identifiersthatindicatethetypeofpaymentsmadetovendorsorreceivedfromcustomers.Thereare manystandarddeliveredSAPentriesforeachcountry ELECTRONIC BANKING: Explainbrieflyhowyoucanimportelectronicbankstatementsinto SAP. A: AtextfileisreceivedfromthebankwhichisthenuploadedintotheSAPsystem.Thefilecontainsdetailsofthecompany’sbankmovementse.g.cheques, bankinterest,bankcharges,cashreceiptsetc.DependingonthesystemconfigurationSAPwillattempttobookthesetransactionsautomatically to the correctaccountstoavoidtheneedformanualentriesbySAPusers.Anypostingswhichthesystemcannotderiveautomaticallycanbebooked through“post-processing AUUONTS RECEVABILE:
- 7. RECEDUAL PAYMENT: InAccountsReceivable,what’sthedifferencebetweenthe‘residualpayment’and‘partpayment’methodsofallocating cash ? A: Thesearethetwomethodsforallocatingpartialpayments fromcustomers.Asanexample,letssayinvoiceA123existsfor100$andacustomerpays 60$.Withpartialpayment,the60$simplyoffsetstheinvoiceleaving aremaining balanceof40$Withresidualpayment,invoice A123isclearedfor thefullvalue100$andanewinvoiceline itemisbookedfortheremaining balanceof40$ Correspondence TYPES: Whatarecorrespondencetypesin AR/AP? A: CorrespondencetypesaredifferentoutputswhichcanbeprintedandsenttoyourbusinesspartnersbasedaroundeithercustomervendororGL information.Popular correspondencetypesincludecustomerstatements,paymentnoticesandlineitemslists.Withinthe mostcommonAP/ARfunctions (suchas‘Displayvendorlineitems’belowthereistheoptiontogeneratecorrespondencerequests.Attheendoftheworkingdaythesecanbeprintedtogether asabatchandsentout DUNNING: Whatis“dunning” inSAP? A: Dunningistheprocessbywhichpaymentchasinglettersareissuedtocustomers.SAPcandeterminewhichcustomersshouldreceivethelettersandforwhich overdueitems.DifferentletterscanbeprintedinSAPdependingonhowfaroverduethepaymentis;fromasimpleremindertoalegalletter.Thedunning levelonthecustomermasterindicateswhichletterhasbeenissuedtothecustomer REASON CODE: Whatare“reasoncodes”usedforintheAccountsReceivablemodule andwhatarethefactorstobeconsideredintheirconfiguration? A: Reasoncodesaretagswhichcanbeassignedtoexplainunder/overpaymentsduringtheallocationofincomingcustomer payments.Theyshouldnot beconfusedwith‘voidreasoncodes’usedwhenoutgoingchecksaregenerated.Duringconfigurationthefollowing aredetermined • Whethertheitemsbookedwiththesereasoncodesaretobeflaggedasdisputeditemsforthepurposesofcreditmanagement(disputeditemsdonotincrease acustomercreditexposure) • Thetypeofcorrespondence(ifany)tobegeneratedforthisreasoncodeasaresultoftheunder/overpayment • WhetheraseparatelineitemshouldbecreatedtochargeoffthepaymentdifferencestoaseparateG/Laccount. RATE FACTORS: Whatareexchangerate“factors”?
- 8. A: ExchangeRatefactorsaretherelationshipsbetweenonecurrencyandanothertowhichanexchangerateisapplied.ForexampleyoumaydefinetheIndonesia RupiahtoUS$factoras10000 :1Combinedwithanexchangerateof0.95thiswouldequateto9500 IDRto1USD PARKINGDOCUMENTS: Whatisdocumentparkingandwhyisitimportantwhenconsiderationinternalcontrolproceduresand“segregationofduties” ? A: ParkingisaSAPtermwhichmeansaposting(AP/AR/GL)canbetemporarilysaved(possiblywithincomplete information) without hitting the affectedledger(s).Aseparatepersoncanthenreleasethepostingtotheledgerwhenrequired.Thisisusefulforexampleifjunior staffaretoinitially enterthe invoices,beforetheirsupervisorchecksitandbooksittotheledger.Anotherpopular use iswhenenteringGLjournals withmanyhundredsofline items.Thedocumentcanbepart-savedallowing forcompletion atalaterdate DOCUMENT CURRENCY: Explainthedocumentcurrency(WRBTR)andlocalcurrencyfields(DMBTR)whenpostingadocumentinSAPFI. A: Onthedocumentheader,thecurrencykeyisentered.Ifthisisdifferentfromtheentitycurrency(orlocalcurrency),anequivalentamountinlocalcurrency iscalculatedautomaticallybythesystemandstoredinthefield“localcurrency”.Itispossiblehowevertooverwritethesystemproposedvalueinthisfield manually.Ifthelocalamountismanuallyoverwritten,andthedifferencebetweentheimpliedexchangerateissufficientlydifferenttotherateusedbythesystem, awarningorerrormessageisdisplayed(dependingonsystemconfiguration) GR/IR ACCOUNT CLEARING: Explain whatis meantby GR/IRclearing A: GoodsreceiptsfromtheMMmoduletypically generateentriessuchas • DebitStock,CreditGR/IRclearingThisindicatesanincreaseinstockandapendingentrytobeclearedoncetheinvoicefromthevendorarrives.Atmonthend therewillbeaneedtoaccruethosepurchasesreceivedbutnotyetinvoicedhencethereasonfortheaccountnamed‘Good Received/Invoice Received’Typicallythebalanceonthisaccountatmonthendindicatesthevalueofgoodsreceivedbutnotinvoiced.Oncetheinvoiceisreceivedthe correspondingentryisbooked. • CreditVendor, DebitGR/IRTheseoppositeentriestotheGR/IRneedtobeclearedagainsteachother.(Thisaccountismanagedonanopenitembasis). UsingtheF.19transactionthiscanbedoneautomaticallybyusingthePOandlineitemnumberstoredintheassignmentfield