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SAP stands for Systems Applications and Products in Data Processing. SAP, by definition, is also the name of the ERP (Enterprise Resource Planning) software as well as the name of the company. SAP Software is a European multinational, founded in 1972 by five ex-IBM scientists.
Important Modules are:
SAP Financial Accounting (FI)
SAP Controlling (CO):
SAP Sales and Distribution (SD)
SAP Production Planning (PP)
SAP Materials Management (MM)
SAP Quality Management (QM)
SAP Human Capital Management (HCM)
A. G/L account groups
B. G/L account
C. Chart of Accounts
D. None of the above
To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used.
You can have one Chart of Account for one company code which is assigned.
FSV (Financial Statement Version) is a reporting tool. It can be used to extract final accounts from SAP like Profit and Loss Account and Balance Sheet.
For all SAP transaction, the default exchange rate is M (Average Rate).
To track the cost, internal orders are used; they are proposed to be incurred over on a short term basis.
In general, there are 16 posting periods in a fiscal year. Of these 16 posting periods, there are 12 normal periods and 4 special posting periods. Special posting periods are used for book adjustments, tax adjustments, audit corrections, and so forth. Special posting periods are part of the 12 th normal period.
Residual payment: This clears the original invoice with the incoming amount and creates a new open line item for the remaining outstanding amount.
Part payment: This leaves the original invoice amount and creates a new line item for the incoming amount. In case of partial payment, both the original (invoice) entry and the payment entry will appear as open items. These situations arise when you don’t receive full payment against an invoice.
Yes, this is configurable through payment terms. While configuring payment terms, you will define the cash discount if payment is made within the defined date. You can configure payment terms using T-code OBB8.
With T-code OBA7 you are defining the document type. While configuring the document type, you are defining the type of account to which it will post. If the document type is defined only for vendors and you are using it for a customer, the system will not allow us to post to the customer. Hence, the document can’t be posted for a customer.
Dunning means notifying business partners of their overdue outstanding balance. A dunning level determines how often an account will be dunned.
The controlling area is the central organizational unit within the CO module. It is representative of a contained cost accounting environment where costs and revenues can be managed.
A. Due date of the invoice and cash discount
B. Due date only
C. Cash discount only
D. None of the above
A. House Bank
B. Many house bank
C. One house bank and one account id
D. One house bank plus multiple account ids in the same bank
Vendor, Customer and G/L Items
Posting keys determine whether a line item entry is a debit or a credit, as well as the possible field status for the transaction.
The standard document types provided in SAP solutions are: SA—General entry, DA—Customer document, KA—Vendor document, DZ—Customer payment, and KZ—Vendor payment. You can create new document types using T-code OBA7
An automatic payment program is a program through which you are able to pay and generate checks for all vendors/customers you owe as per payment terms. This can be configured through T-code FBZP.
A controlling area may include one or more company codes, which must use the same operative COA as the controlling area. A controlling area can contain multiple company code assignments, but a single company code can be assigned to only one controlling area.
SAP ERP Central Component (SAP ECC). ECC is a component of SAP’s ERP software package. ERP suite provides the overall management and control of the functions. ECC consists of the group of functions that businesses can perform.