SAP FICO Interview Questions and Answers – Technosap

Dear Readers. we can list of SAP FICO interview questions that have been designed for SAP FICO programmers who are preparing interviews on SAP FICO interviews. Here, we have added some basic and advanced or both questions on SAP FICO that are asked and help you to crack interview on SAP FICO.

SAP FICO Interview Questions and Answers

1. Tell me about FI Organizational structure?
Ans: Client
|
Operating Concern
|
Controlling area1 Controlling Area 2
|
Co. Code 1 Co. Code 2
|
Bus area 1 Bus area2 Bus Area3 Bus Area 4

2. How many Normal and Special periods will be there in fiscal year, why do u use special periods?
Ans: 12 Normal posting period and 4 special periods are in the fiscal year which can be used for posting tax and audit adjustments to a closed fiscal year.

3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based on a/c types considering GL Accounts. Tr. Code. OB52.

4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
⇒Name of the company
⇒City
⇒Country
⇒Currency
⇒Language
⇒Address

5.What is document type, and what does it control? Examples.
Ans: Document type is nothing vouchers containing line items. Several business transactions can be identified within a particular document type.
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document

6. What is posting key and what does it control?
Ans: These are special classification keys. Two character numerical key it controls the entry of line items.
Posting key determines Account type, Debit/credit posting, Field status of transaction.

7. What is field status group, what does it control? 
Ans: FSG is mandatory field in ! GL Creation. You use this field to define which fields are displayed when you post business transactions to a G/L account.

A field may have one of the following statuses.
⇒Suppressed
⇒Display
⇒Optional
⇒Required

8. What is chart of account and how many charts of accounts can be assigned to a company?
Ans: Chart of account is a list of all G/L accounts used by one or several company codes.

For each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a Company code.

You have to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code.

You have the following options when using multiple company codes.
You can use the same chart of accounts for all company codes

If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.

In addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.

The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the co! mpany codes which use different charts of accounts together or separately.

9. What does definition of a chart of account contains?
Ans: chart of account key
⇒Name
⇒Maintenance language
⇒Length of the GL Account Number
⇒Controlling Integration
⇒Group chart of accounts (Consolidation)
⇒Block Indicator

10) Can one COA be assigned to several companies?

Ans: yes. One COA can be assigned to several companies.