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Sap Fi Certification

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Title of test:
Sap Fi Certification

Description:
Source Sap TFIN50 PART 2

Author:
Richard Gordou
(Other tests from this author)

Creation Date:
13/04/2015

Category:
Others

Number of questions: 209
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Content:
Like G/L accounts, customer/vendor accounts have two segments in the financial accounting view One segment at client level that contains general data. This data can be accessed throughout the whole organization A segment with company code specific data at company code level. A segment with Sales specific data at company code level.
The account group controls The number ranges of the accounts Whether the Account is a one-time account The status of the fields in the master record The posting period.
If a customer is also a vendor, or vice versa, the payment and the dunning program can clear open items against each other True False.
If a customer is also a vendor, or vice versa The payment and the dunning program can clear open items against each other The vendor account number must be entered in the customer account; the customer account number must be entered in the vendor account If clearing is to be used, you have to select the Clearing with Vendor field in the customer account, or the corresponding field in the vendor account.
Every document is uniquely identified by the following fields Document number Company code Fiscal year Document type.
Documents in SAP Financial Accounting consist of: A document header Between 2 and 999 line items Between 1 and 99 line items Between 1 and 999 line items.
Documents in SAP Financial Accounting have Two important control keys Document type Posting key Currency key.
There are different posting transactions for different postings. The postings can be as follows G/L account postings Customer invoice postings Customer credit memo postings Vendor invoice postings Vendor credit memo postings.
The SAP payment program lets you automatically Select open invoices to be paid or collected Post payment documents Print payment media, use data medium exchange (DME), or generate electronic data interchange (EDI) Post down payment documents.
The payment process consists of four steps Scheduling the payment run Generating a proposal: Edit dunning proposal Printing the payment media Setting parameters.
Every payment program run is identified by ___________ Run Date Value Date Identification.
The run date is recommended as the actual date when the program is executed. True False.
__________field is used to differentiate between program runs that have the same run date The identification Chart of account Run date.
Items that cannot be paid are detailed on the exception list: possible reasons Payment amount is less than the minimum amount specified for payment invoice is blocked Invalid data in the master record Invalid payment method Invalid house bank.
A print program is assigned to each payment method for each country when it is configured. True False.
If several variants are assigned to a print program, the system runs the program once for each variant True False.
Name the areas into which the payment program configuration is divided. All company codes Paying company codes Payment method/country Payment method for company code Bank selection house bank.
________ specify the accounts and documents that are to be included in the payment run. The parameters The chart of account Reconciliation account G/L account.
The payment program needs the next __________________ to determine whether an open item has to be paid now or in the next payment run. Posting date Value date Run date.
The sequence in which the payment methods are entered in the _______ reflects their priority Payment parameters Company code Chart of accounts.
All the company codes in the payment run parameters must be in the same country. True False.
A payment method can be used only if it is entered in the account master record. False True.
The payment proposal can be edited, deleted, and recreated as often as necessary. True False.
The exception list is part of the payment proposal. True false.
What benefits does using the Payment Medium Workbench have for customers? Formats can be easily changed without making modifications. You can create new formats easily All the advice notes can be output in one print file New formats cannot be created Better sort options for advice notes The note to payee can be freely defined. Performance for mass payments is improved.
Old and New Payment Medium Programs: check the correct answer With one of the standard payment methods, the assigned RFFO* program is started with the variants defined in the payment run With a PMW payment method, the new Payment Medium Workbench programs are launched.
_____________ can be carried out after a payment proposal has been created The debit balance check Parameters company code.
The debit balance check is carried out with the program RFF110SSP True False.
You can use the Schedule Manager to automate periodically recurring activities True False.
List the steps that have to be taken by the dunning program to perform the automatic dunning procedure. Maintain parameters Proposal run Edit dunning proposal Print dunning notices Edit payment proposal.
Customers without a dunning procedure in the master record are dunned with a default dunning procedure False True.
Dunning notices can be sent to both customers and vendors True False.
_____________________controls how dunning is carried out The dunning procedure The dunning level The dunning area.
Every account that is to be included in the automatic dunning process needs to have a dunning procedure. True False.
One-time-accounts have a dunning procedure that is valid for all one-time customers True False.
You can define any number of dunning procedures True False.
The dunning procedure can process standard and/or special G/L transactions. True False.
The dunning program setting are divided into the following categories Environment Dunning texts Minimum amounts Expenses.charges Dunning levels Dunning procedures.
For each dunning process, maintain Interest calculation indicator for calculation of dunning interest Grace periods per line item The minimum days in arrears after which a dunning notice will be sent The dunning interval in day A description of the dunning procedure A key for the dunning procedure to be used.
The number of dunning levels represents the highest dunning level that is possible in this procedure True False.
If you want dunning interest to be calculated, you have to enter an interest indicator True False.
The minimum days in arrears are the days that at least one item in the account must have True False.
What is the maximum dunning level 1 12 9.
Every dunning program run is identified by the following fields: Identification Run Date Posting date Fiscal year.
The run date is always the date when a certain dunning run is supposed to be started. False True.
The parameter specify the accounts and documents that are to be included in the dunning run. True False.
The dunning run creates a dunning proposal that can be edited, deleted, and recreated as often as necessary True False.
Each dunning procedure contains up to ____________ dunning levels 9 12 24 1.
Dunning procedures with only one dunning level are referred to in the system as ___________ Payment reminders. First dunning level Last dunning level.
The account can only be dunned if at least one item has reached the minimum days in arrears per account True False.
List the main steps involved in creating the dunning proposal: Account dunning Account selection Line item dunning.
An account is dunned only if all the overdue items have exceeded the minimum days in arrears False True.
The dunning run updates the dunning data in the dunned items and accounts. False True.
A dunning notice is sent only if the dunning data has changed since the last dunning run or if "Always dun" is selected. True False.
After the dunning proposal has been created, changes to the dunning data in items or master records are ignored in the current dunning run. True False.
The dunning proposal can be edited, deleted, and recreated as often as required. True False.
After the dunning proposal has been created, it can be edited by a clerk. the following lists can be printed Dunning statistics Dunning list Blocked accounts Blocked line items Dunning history None of above.
If dunning notices are to be sent to one-time customers, the dunning data is updated only in the relevant items True False.
Items that are to be dunned are grouped together in dunning notices as long as they have the same: Dunning area Company code Account.
The dunning notice must only contain items with the company code currency. True False.
One dunning form can be used for all dunning levels. True False.
The last dunning level is the legal dunning procedure. False True.
There are many opportunities to generate correspondence Document creation Display/change line items Balance display Line item processing Payment.
You can create correspondence online when you process payments manually and from the line item display True False.
Configuring the interest programs involves defining settings in several areas Account Determination Interest rates Time-based terms General terms Interest Calculation Indicator.
Interest Calculation Configuration: check the correct answer Interest calculation types define basic parameters used to calculate the interest General terms set financial parameters for each interest calculation indicator. Time-based terms set validity dates and relationships to interest rates. Account determination establishes the accounts to which the results of an interest calculation are posted.
Every account for which the SAP System will calculate interest must have an interest indicator in its master record True False.
Interest calculation indicators establish basic parameters for the SAP System to use when calculating interest. True False.
There are different ways to calculate interest: Item interest calculation Account balance interest calculation.
Item interest calculation: Check the correct answaer Calculate interest on cleared items only and post the interest Calculate interest on open and cleared items and post the interest Calculate interest on open and/or cleared items without posting the interest.
Account master data must contain an interest calculation indicator for interest calculation to take place. True False.
On a given account, the SAP System cannot charge different interest rates based on the dollar amounts of balances or items. True False.
You can configure the SAP System to calculate interest for customers or vendors that owe you money. You cannot calculate interest, however, if you owe your business partner money. True False.
What information do you need to create a new interest calculation indicator? A 2 character interest indicator An interest calculation type A 4 character interest indicator A name for the interest calculation indicator is useful but not mandatory.
You can only print checks in the SAP System if the system contains a payable, such as an invoice. True False.
There are several ways to pay an invoice in the SAP System: With the automatic payment program With Post and print forms With Post With Post down payment.
Checks can be voided before the print run if they are________________________ Accidentally damaged Stolen Destroyed.
In each case, you have to decide whether the payment document needs to be reversed. The system allows you to Reverse the check Reverse the check then reverse the payment document separately Reverse the check and the payment document simultaneously Reverse the check and the vendor invoice simultaneously.
A reason code can be defined for each type of void True False.
The check register program can generate the following reports All checks Outstanding checks Checks paid Voided checks None of above.
Name the documents used in the payment process: Vendor invoice Payment document Checks Asset.
What methods can you use to create checks? Manual check Automatic payment program: RFFOUS_C or RFFOD__S Void check.
You can void a check without reversing the payment document. True False.
You cannot void a check without reversing the payment document. False True.
You can void a check and reverse the payment document at the same time. True False.
You cannot void a check and reverse the payment document at the same time. False True.
You can void a check and reverse the payment document and the vendor invoice all at the same time. False True.
A lockbox is a service that banks provide to facilitate the orderly collection and processing of incoming payments True False.
___________ is a service that banks provide to facilitate the orderly collection and processing of incoming payments A lockbox A Callbox Virtualbox.
The advantages of using a lockbox include Reducing processing time in your accounting department Increasing cash flow Cutting processing costs.
The lockbox files are transmitted using various methods such as tapes, diskettes, and direct dial-in and download. True False.
Lockbox : check the correct answer The lockbox program is executed and the payment advice notes are cleared against open customer items. Any checks that could not be fully processed by the lockbox process can be manually processed using the post processing transaction. A lockbox is a service provided by banks to speed up the collection and processing of incoming payments Customers send their payments and payment advice notes to the lockbox.
What are payment advice notes used for in the lockbox process in the SAP System? A payment advice note contains detailed information on an incoming payment A payment advice note contains no detailed information on an incoming payment The lockbox program uses the information in the payment advice note to clear open items on the customerís account.
List the statuses that a check can have. Assigned Partially assigned On account Not processed.
You have to maintain customer bank details manually in the master record to ensure that as many incoming payments are assigned as possible. False True.
The SAP ____________is a generic display tool that creates a standard ergonomic list from predefined data. List Viewer G/L view Entry view.
You can use the _________to display simple and hierarchical sequential lists. List viewer G/L view Entry view.
The SAP List Viewer contains a number of interactive functions such as_____________ Sorting Summation Filters Select columns.
SAP Graphics, SAPmail, and various printing functions are connected to drilldown reporting together with Microsoft Word for Windows and Microsoft Excel. True False.
The financial statement version enables you to configure the report format. You determine the following: Which items are to be included and the sequence and hierarchy of these items The text describing the items The charts of accounts and the individual accounts relevant to the report The totals to be displayed.
You define a financial statement version in two steps: Enter it in the directory of financial statement versions Define hierarchy levels and assign accounts Define company code.
Each version of financial statement must have the following Liabilities Assets Profit Loss Profit and loss results Accounts not assigned Notes to Financial Statement.
A financial statement version consists of a maximum of _________hierarchy levels. 20 9 12 1.
________ is a tool that enables you to analyze G/L account transaction figures and financial statements Drilldown reporting List viewer Entry view G/L view.
_______________ form the basis of the drilldown report presentation Characteristics and key figures Characteristics and company code Company code and key figures.
Characteristics can include __________________ Company code Company Business area Chart of accounts Currency Fiscal year Period.
Key figures can include________________ Total credit balance Total debit balance Balance sheet value Accumulated balance Balance carryforward.
You carry out the foreign currency valuation before you create the financial statements. True False.
You can define different valuation methods for valuing foreign currency. True False.
For each valuation method, you have to define the following: Parameters for the valuation procedure Parameters for exchange rate determination.
The following options are available for creating value adjustments for receivables: You enter individual value adjustments (IVA) as a special G/L transaction E You use the program SAPF107 Additional valuations to carry out a flat-rate individual value adjustment. Once you have determined the amount of the value adjustment, you adjust the flat-rate value by making a manual G/L account posting.
The profit and loss statement can be created using two types of accounting:_____________________ Period accounting Cost of sales accounting G/L accounting.
When you enter the accrual/deferral document, you have to enter a reversal reason True False.
When you enter the accrual/deferral document, you have to enter a reversal reason The reversal reason defines whether: The reason is noted in the document that is reversed. The reversal document can have a different posting date The reversal document can be comprised of negative postings Company are assign to chart of accounts.
Accruals and deferrals can be managed differently in FI. True False.
The purpose of account determination is to determine The document type The debit account The credit account Chart of account Company code.
For parallel accounting, the Accrual Engine supports Parallel accounts Parallel ledgers.
At the beginning of the fiscal year, the balance carryforward program is run, carrying forward the balances of the G/L accounts to the next fiscal year. True False.
The system calculates the balance carried forward to the new fiscal year for each balance sheet account. True False.
The system uses the posting date that you specify during document entry to determine to which posting period the document is posted. True False.
The posting periods for your company are defined by ___________________ The fiscal year variant. The company code Chart of account.
You can use the fiscal year variant to make the following system settings Beginning and end of your fiscal year Number of posting periods (1-16) Posting period length Number of special periods (remaining periods up to 16 after selection of normal periods) Posting Year Posting date.
Tolerance Group is not a variant principe False True.
The tolerance group currency is the ________________ of the company code Local currency Transaction currency Foreign currency.
______________control field display during document entry Field status group Posting key Document type Account group.
During closing, _________periods intervals must be open at the same time 2 12 16.
You can enter an explanatory text for the line item True False.
Tolerance groups are created at_____________Level Company code Client Chart of account.
Subledger account have field status group False True.
Match the correct corespondence SA DG DR DZ KG KR KZ.
The Hide field status cannot be combined with _______ Required entry Optional entry display entry.
Field status variant is create at ________level Client Chart of account Company code.
The currency defined in the company code is a ________________ Local currency Foreign currency Transaction currency.
A base currency can be assigned to an exchange rate type True False.
A year-independent fiscal year variant can define as ________ Calendar year Non-calendar year.
If the posting date falls within the last normal posting period, you can post the transaction in one of the special periods True False.
The country installation program creates country-specific template for Controlling area Financial management area Purshasing organization plants Credit control area Sales organization.
The variant principe consists of ____________ Define variant Determine value for the variant Assign the variant to an object Define propertie of an object.
Each currency key can have a validity date True False.
MySAP business suite contains____________________ Industry solutions Services Cross-Industry solutions Technology.
The relationship between currencies must be maintained per exchange rate type using Translation ratios Inversion Base currency.
Before you can create cost center, you must first create a _______________hierarchy Standard Complete Logical.
Which data is required for the automatic account determination for tax amounts? Posting keys Rules Tax accounts Tax category.
__________________is a tool that will help users manage payables. The automatic payment program The dunning program The bank house.
_________________ is the date when the general ledger is updated with the postings The posting date The run date The value date The baseline date.
_________________ are defined for each currency and depend on the dunning level. Dunning charges Dunning level Dunning area Dunning procedure.
You can prevent certain items from exceeding a certain dunning level by assigning a __________________ to these items Dunning keys Dunning area Dunning procedure.
_____________ depend on the dunning level and can be either a fixed amount or a percentage of the dunned amount The dunning charges The dunning procedure The dunning level The dunning run.
_______________________ represents a type of letter in the system. A correspondence type A dunning form A dunning text.
Drilldown reporting ______________________________________________ Is a dialog-oriented information system for evaluating data from the FI, GL, AR, and AP databases. Is a tool that enables you to analyze G/L account transaction figures and financial statements.
The dunning text for dunning level 6 is stored in the text module ___________ 616 626 116.
Type of valuation procedure Revalue only Always evaluate Lowest value principe Strict Lowest value principe.
If your fiscal year is the same as the calendar year, the following specifications apply: The fiscal year begins on January 1 12 posting periods are available The periods correspond to calendar months You do not have to define the individual periods The system automatically uses the calendar months.
If your fiscal year differs from the calendar year, you must specify: How many posting periods you require How the system should determine the posting period and fiscal year from the posting date during posting.
The layout of customer/vendor master data screens can be affected by several factors: Chart of account-specific control Account group-specific control Transaction-specific control Company code-specific control.
Conversion of a Payment Method to PMW 1 2 3 4 5 6.
_______________________ controls how dunning is carried out. The dunning procedure The dunning key The dunning area.
The dunning run can be divided into the three steps above for more clarity. Step 1 Step 2 Step 3.
The difference between the due date and the dunning date is as follows: Due date Dunning date.
If items are overdue but there is a dunning block in the item, the system adds these items to the blocked items list. True False.
If a payment method for incoming payments has been specified for an item, the item is usually not dunned because the payment program is responsible for collecting the money. These items are only dunned if they have a payment block True False.
List some reasons why overdue items might not be dunned: Account is not contained in the parameters Items are within the grace period Items or accounts are blocked for dunning Items or accounts have a payment method for incoming payments but no payment block The overdue amount is less than the minimum amount Items can be cleared with overdue items on the credit side None of the items exceeds the minimum days in arrears The dunning data has not changed since the last dunning run but ''Always dun'' is selected. The dunning data has not changed since the last dunning run and Always dun? is not selected.
The dunning proposal consists of several steps. Account selection Line item dunning Account dunning Company code selected.
The print program for the dunning procedure________________________________ Groups items to be dunned with a dunning notice according to various rules Generates a dunning notice for each group Enters the dunning date and level in the dunned items and accounts.
You can also group items by the following criteria Dunning by dunning level Grouping key Decentralized processing.
Name the tree documents used in the payment process: Vendor invoice Payment document Checks.
What are payment advice notes used for in the lockbox process in the SAP System? A payment advice note contains detailed information on an incoming payment A payment advice note contains not detailed information on an incoming payment.
A payment advice note contains detailed information on an incoming payment. It may include the following information: Customer's MICR number (bank routing number and account number) Check amount Invoice number Payment date Payment amounts/deductions per invoice Reasons for deductions All above.
The lockbox program uses the information in the payment advice note to clear open items on the customer account. True False.
You can find the reports you require in various places in the system: You can access important reports using the information system for each area (G/L, Accounts Receivable, Accounts Payable) and on the general report selection screen. Reports are included in role-based user menus. Under System, choose System Services → Reporting Under transaction code SU01.
The reports that start with RF are differentiated by account type. Reports start with RFK_____ RFD_____ RFS_____ RFB_____.
The following report types can be used for G/L account evaluations: Reports for financial statement analysis Key figure reports Balance display Company code display.
A report definition can contain Characteristics Key figures Forms Reason code.
A combination of characteristics and characteristic values is generally called an object in drilldown reporting. True False.
To carry out a foreign currency valuation, you have to make certain settings in Customizing: Check your currency Customizing (for example, you must have defined the exchange rates) Define your valuation methods Define expense and revenue accounts for exchange rate differences from the valuation Assign currency to the company code.
Regrouping Receivables and Payables. check the correct answer Before you can create financial statements, you have to group your receivables and payables according to remaining life so that they are correctly displayed in the financial statements Regroupings are carried out using a special program.
You can use repost SAPF101 to regroup and sort the receivables and payables; it has the following functions: It sorts receivables and payables according to remaining life and makes the transfer postings required. It makes the required adjustment postings You can use report SAPF101 to determine where transfer postings are required.
Regrouping Customers with Credit Balances or Vendors with Debit Balances (SAP101) check the correct answer The balance of an account determines whether the system displays it as a receivable or payable Receivables and payables are displayed separately according to remaining life. In order to have the system generate transfer postings when you start report SAPF101, you have to make the relevant selections for the sort methods used in Customizing.
The profit and loss statement can be created using two types of accounting: Period accounting Cost of sales accounting GL accounting.
In the SAP System, the reconciliation ledger represents cost element accounting. True False.
The reconciliation ledger stores all cost flows within controlling in a summarized form. True False.
The reconciliation ledger compares the CO view of data to the FI view and enables you to automatically reconcile controlling with financial accounting. False True.
A distinction is made between Accrual/Deferral Accruals Deferral.
The Accrual Engine is used amongst other things for: Manual Accruals in Financial Accounting Provisions for Awards Lease Accounting Intellectual Property Management.
The Accrual Engine stores two types of data: The basic data consists of a description of the subject to be accrued (accrual object) and all other information required for carrying out the accruals. Basic data is time-dependent. All accruals postings create documents in the Accrual Engine and update fiscal year-specific totals records.
The Accrual Engine documents automatically create corresponding documents in FI. True False.
Advantages of the Accrual Engine The Accrual Engine calculates the accrual amounts automatically. You can make periodic accruals postings automatically as performance-optimized mass data processing using an accrual run. You can simulate planned future accruals. You cannot simulate planned future accruals. The Accrual Engine supports parallel accounting with either different account areas or parallel ledgers An extensive Information System provides information about planned accruals and accruals that have already been carried out.
To activate an application component of the Accrual Engine you have to carry out the following Customizing activities: The application component must be assigned to the company codes that are to use it. The required accounting principles must be defined if this has not already been done. The application component must be assigned to the required combination of accounting principle and company code. The current fiscal year must be open for the application component. The current fiscal year must be close for the application component.
The Accrual Engine requires only a small number of closing activities of a purely technical nature. Reconciliation: Accrual Engine/General Ledger Here, Accrual Engine documents and General Ledger documents are reconciled with one another to check whether the transfer to the General Ledger was complete and without errors. Balance carryforward At the end of the fiscal year you have to carry forward the balances of the accruals objects into the next fiscal year. This has nothing to do with the balance carryforward in the General Ledger.
There are also two function modules that you can use to import accrual objects from a database table via a batch job. ACAC_OBJECT_CREATE_EXT ACAC_OBJECT_MODIFY_EXT.
You have to create deferrals when an expense or revenue is posted in the current period, but is incurred or earned partly or completely in the future. True False.
You have to create accruals when an expense or revenue is to be received in the future, but is incurred or earned partly or completely in the current period. False True.
You can use accrual object categories ________________________ As a navigation level to find accrual objects more easily To assign special customer-defined parameters that describe the accrual object in more detail As a credit memo.
The posting control is defined for each Company code Accounting principle Accrual type Chart of account.
The reversal posting is made if the adjustment item posted is cleared at the key date of the new run. True False.
Business Process 1099: check the correct answer Reporting of 1099 withholding tax involves income paid to non-incorporated vendors or non-employees. The revenues are divided into eleven categories. Any differences between the tax amount payable and the amount withheld is handled directly between the 1099 vendor and the IRS. 1099 taxes have to be reported once a year (in January) The amounts that have to be reported to the IRS are only amounts paid to the 1099 vendor between January 1 and December 31 of the reporting year. Most companies use category 07 Non-employee compensation.
No 1099 vendor may be set up as a one-time vendor, since one-time vendors are excluded from 1099 processing within mySAP ERP. True False.
In order to configure the 1099 vendor master record, you have to be able to enter tax codes in the account group to which the vendor is assigned. True False.
_____________basic 1099 withholding tax codes are provided with mySAP ERP. Each code corresponds to a tax category. 7 11 13.
Business Process 1042 check the correct answer Reporting of 1042 taxes involves amounts paid to foreign vendors or foreign non-employees. The amounts are classified into 1 of approximately 20 categories Companies are usually required to withhold/deduct tax from payments to 1042 vendors. 1042 taxes have to be reported once a year (in February). The tax return can either be in written form or in the form of a data file. The amounts that have to be reported to the IRS are only amounts paid to the 1042 vendor between January 1 and December 31 of the reporting year.
No 1042 vendor may be set up as a one-time vendor, since one-time vendors are excluded from 1042 processing within mySAP ERP. True False.
To configure the 1042 vendor master record, the account group to which the vendor is assigned must allow data entry in the tax code fields True False.
1042 tax codes are not predefined in mySAP ERP and must be created by the user. True False.
If several revenue types are required, you have to create separate withholding tax codes for each revenue type. True False.
1042 revenue types are defined within the withholding tax codes themselves. True False.
You need to ensure that correct recipient types exist for 1042 processing. These codes are entered in the vendor master record. True False.
If you want the payment terms in a credit memo to apply, you have to enter ______ in the Invoice reference field V E D.
_____________ is a generic tool for calculating and creating accrual postings. The Accrual Engine The lockbox The Interest indicator.
A 1099 vendor is configured in two areas of the vendor master record: Control data area Accounting information area Company code area.
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