SAP FI (Financial Accounting) is a crucial module in
SAP ERP, helping businesses manage financial transactions, accounting,
and reporting efficiently. Whether you're preparing for an interview or
looking to enhance your SAP FI knowledge, this guide covers essential SAP
FI interview questions along with in-depth answers.
1. What is a Chart of Accounts in SAP FI?
The Chart of Accounts (COA) is a structured list of
all General Ledger (G/L) accounts used by a company. It defines
how financial transactions are recorded in SAP.
Key Components of a Chart of Accounts:
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Key – A unique identifier for the COA.
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Name – A descriptive name for easy identification.
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Length of G/L Account Number – Maximum 10 characters.
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Block Indicator – Specifies whether an account is
blocked for posting.
Hints:
For each G/L account, the COA contains:
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Account number and name.
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Control information to determine account functionality.
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Guidelines for creating G/L accounts in a company code.
2. Can One Chart of Accounts Be Assigned to Multiple Company
Codes?
Yes, one COA can be assigned to multiple company codes.
This ensures uniformity in financial reporting across multiple entities.
A complete G/L account consists of two main segments:
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Chart of Accounts Segment
-
Company Code Segment (Specific to each company)
3. What Are the Components of a Chart of Accounts Segment
in SAP FI?
A Chart of Accounts segment in SAP FI includes:
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Account Number – Unique identifier.
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Name of Account – Short and long text description.
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Control Fields – Includes G/L Account Group,
Balance Sheet account or Profit & Loss account.
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Consolidation Fields – Used for group financial
reporting.
4. What Information Does the Company Code Segment Contain?
The Company Code Segment refers exclusively to the
specific company and contains:
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Currency – Specifies the local currency.
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Tax Information – Relevant tax configuration.
-
Reconciliation Account – Maps subledger accounts
to the G/L.
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Line Item Display – Determines line item visibility.
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Name of Account – Short and long text.
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Sort Key – Helps in automatic document sorting.
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Field Status Group – Controls field visibility during
document entry.
5. How Does the Retained Earnings Account Affect the P&L
Account Type?
If a company uses a single retained earnings account,
the Profit & Loss statement account type field is hidden. This
simplifies reporting and ensures all retained earnings accumulate under
one account.
6. What Is the Purpose of a G/L Account Group in SAP FI?
The G/L Account Group is used to control:
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Grouping of similar accounts (e.g., Assets, Liabilities,
Revenue, Expenses).
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Number Ranges for G/L accounts.
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Field Status to determine which fields are required,
optional, or hidden during G/L account creation.
7. How Is Field Status Controlled in SAP FI?
SAP provides two ways to control Field Status:
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Account Group-Specific – Defined at the time of
G/L account creation.
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Transaction-Specific – Controlled when creating,
changing, or displaying transactions.
8. What Is an Alternative Reconciliation Account and When
Is It Used?
An Alternative Reconciliation Account is used in down
payments to ensure proper mapping of financial transactions.
How Does a Reconciliation Account Work?
SAP uses subledger accounts for vendors, customers,
and assets. However, these do not appear directly in the balance sheet.
Instead, they are mapped to Reconciliation Accounts.
Example – Down Payment Posting in SAP FI
1. At the Time of Down Payment:
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Vendor Alternative Recon Account (Dr.) – 111111
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Bank Account (Cr.) – 222222
2. After Receiving the Invoice:
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Expenses Account (Dr.) – 333333
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Vendor Reconciliation Account (Cr.) – 444444
3. Clearing the Down Payment:
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Vendor Reconciliation Account (Dr.) – 444444
-
Vendor Alternative Recon Account (Cr.) – 111111
Once the invoice is processed, the alternative reconciliation
account is cleared against the standard vendor reconciliation account.
9. What Is Controlled by Account Type in SAP FI?
SAP FI has five Account Types, each controlling specific
settings:
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Vendor
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Customer
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Material
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Assets
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General Ledger (G/L) Accounts
These are used to define vendor accounts and manage
open/close periods for postings.
10. What Is the Purpose of a Proposal in the Automatic Payment
Program?
The Automatic Payment Program (APP) in SAP allows
companies to generate payment advice and cheques automatically, reducing
manual effort.
Why Is a Proposal Needed?
-
Ensures an intermediate check before final payments.
-
Allows modifications, such as blocking payments for
specific vendors.
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Helps validate uploaded payment data before execution.
FAQs on SAP FI Interview Questions
1. Can multiple company codes share the same Chart of Accounts
in SAP FI?
Yes, a single Chart of Accounts can be assigned to
multiple company codes, ensuring consistency in financial reporting.
2. What is the difference between a Chart of Accounts Segment
and a Company Code Segment?
-
Chart of Accounts Segment contains general account
details.
-
Company Code Segment contains company-specific details
like currency, tax settings, and reconciliation account.
3. Why is an Alternative Reconciliation Account needed?
It is used for down payments, allowing proper accounting
without affecting standard vendor reconciliation accounts.
4. How does the Automatic Payment Program (APP) help in SAP
FI?
APP automates vendor payments, reducing manual effort
and minimizing errors.
5. What are the types of Account Groups in SAP FI?
Account Groups classify accounts into Assets, Liabilities,
Revenues, and Expenses, controlling their properties.
6. What are the five account types in SAP FI?
The five account types are Vendor, Customer, Material,
Assets, and G/L Accounts. |
SAP FI
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