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10 Cards in this Set
- Front
- Back
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75. Explain financial accounting in SAP. (FI)
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The FI module in SAP is backbone, which records, collects, and processes financial transactions or information on a real time basis to provide the necessary inputs for external (statutory) reporting. The module is integrated with other modules (such as Material Managment (MM), Sales and Distribution (SD), Human Resources (HR), Production planning (PP), Controlling (CO), etc.). The module FI has several submodules that are tightly integrated.
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79. What do you mean by organization units in SAP?
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The organizational units in SAP are the elements or structures representing business functions, and are used in reporting. For example, Client (across the various modules) Company Code (FI), Controlling areas (CO), Plant (logistics), Sales Organization (SD), Purchasing Organization (MM), Employee Group (HR), etc.
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80. What are the important Organization units in FI?
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1. Company
2. Company Code 3. Business Area |
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81. What is a company?
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A company in SAP is represented by a 5 character alphanumeric code and usually represents the enterprise or the group company. A company can include one or more company codes. The creation of a company, in SAP, is optional.
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82. What is a company code, and how is it different from a company?
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A company code in SAP is the smallest organization unit for which you can draw individual financial statements (BS & IS) for your external statutory reporting. It is denoted by a 4-character alphanumeric code. The creation of a company code is mandatory; you need to have at least one company code defined in the system, for implementing FI. You may define a company code by copying from an existing one or from scratch.
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84. Can you assign more than one company code to a company?
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All the company codes within a company should use the same Chart of accounts and the same Financial Year, though they have different local currencies.
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88. What is the credit control area in SAP?
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The credit control area in SAP helps administer credit managment function relating to customers. This organizational unit is used both in SD and FI-AR modules. By definition, you can have more than one credit control area in a Client, but each company code is assigned to one credit control area. However, it is true that you can attach many company codes to the same credit control area.
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89. What is a chart of accounts?
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A chart of accounts is the list og GL accounts used in one or more Company codes. All the GL accounts in a chart of accounts will have an account number, account name, and some control information. The control information decides how the GL account can be created.
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90. What are all the major components of a chart of accounts?
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1. Chart of account key
2. Name 3. Maintenance language 4. The GL Account # 5. Controlling Integration 6. Group Chart of accounts 7. Block indicator |
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94. Can one Chart of accounts be assigned to several company codes?
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Yes. One chart of accounts can be assigned to several company codes. However, the reverse is not possible. EXAMPLE: you will not be able to assign more than one chart of accounts to a single company code.
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