FI

1.  FI Certification Topics

2. How can you link customer and vendor master records and what is the purpose of doing so?

3. What are terms of payments and where are they stored ?

4. What is meant by a “baseline date” in SAP AR and AP ?

5. What are one-time vendors ?

6. What factors should be considered when configuring an Accounts Payable Vendor Group ?

7. Name the standard stages of the SAP Payment Run.

8. In Accounts Receivable, what’s the difference between the ‘residual payment’ and ‘part payment’ methods of allocating cash ?

 

 

 

1.  FI Certification Topics

Description

  • The “SAP Certified Application Associate – Financial Accounting (FI) with SAP ERP 6.0 EHP4” certification exam verifies that the candidate has proven skills and fundamental knowledge in the area of the SAP Financial Accounting. The exam proves that the candidate has a good and overall understanding within this consultant profile and can implement this knowledge practically in projects under guidance of an experienced consultant. This certificate is the ideal -although not mandatory- prerequisite for the qualification to Financial Accounting Application Professional in any of the specialist areas. It is recommended as an entry-level qualification to allow consultants to get acquainted within Financial Accounting projects.

Notes

  • To ensure success, SAP recommends combining education courses and hands-on experience to prepare for your certification exam as questions will test your ability to apply the knowledge you have gained in training.
  • You are not allowed to use any reference materials during the certification test (no access to online documentation or to any SAP system).

Topic Areas

Please see below the list of topics that will be covered within this certification and the courses that cover them:

Accounting Customizing I > 12%

Configure and use the payment program. Define the customizing settings for the Payment Medium Workbench. Create a payment medium using the PMW. Use the debit balance check for handling payments Set up dunning and execute dunning. Define terms of payment and payment types. Explain the connection of customers to vendors. Set up correspondence and send periodic account statements. Define terms of payment and payment types. Understand integration with sales and distribution. Understand integration with procurement.

Financial Closing> 12%

Perform month and year-end closing in Financial Accounting (exchange rate valuation, post provisions etc.). Create balance sheet and profit and loss statements. Monitor closing operations using the Financial Closing Cockpit. Post accruals with accrual documents and recurring entry documents. Manage posting periods.

Asset Accounting > 12%

Create and maintain chart of deprecations and the depreciation areas. Create and maintain asset classes and asset master data. Configure and perform FI-AA business processes in the SAP System. Setup valuation and depreciation. Perform periodic and year-end closing processes. Explain and configure parallel accounting (with the accounts solution).

Basics of SAP ERP, SAP NetWeaver, and SAP Solution Manager 8% – 12%

Explain the basics of SAP ERP, SAP NetWeaver, and SAP Solution Manager

General Ledger Accounting 8% – 12%

Create and maintain general ledger accounts. Maintain exchange rates.  Maintain bank master data. Define house banks. Create and reverse general ledger transfer postings. Post cross-company code transactions. Create profit centers and segments. Clear an account. Use document parking. Define and use a chart of accounts. Maintain tolerances. Maintain tax codes. Perform postings with document splitting. Parallel accounting with the accounts and ledger approach.

Accounts Payable 8% – 12%

Create and maintain vendor accounts. Post and reverse invoices and payments and use special g/l transactions. Manage partial payments.  Block open vendor invoices for payment.

Accounts Receivable 8% – 12%

Design customer master structure. Define payment terms. Define payment methods. Setup the automatic payment, dunning and correspondence. Configure automatic revenue account determination. Create and manage Special G/L transactions (down payment requests, down payments and allocation, individual value adjustments, and so on).

Accounting Customizing II 8% – 12%

Utilize document parking. Configure and test validations and substitutions. Create and post using special g/l transactions. Execute archiving for documents and master data in financial accounting.

Reporting in Financials  < 8%

Create evaluations in the information system. Customize the accounts receivable/accounts payable information system. Use drill down reporting. Define forms and execute reports. Create, change and execute queries.

https://training.sap.com/shop/certification/c_tfin52_64-sap-certified-application associate—financial-accounting-with-sap-erp-60-ehp4-g/

 

2. How can you link customer and vendor master records and what is the purpose of doing so?

On the customer master there is a field “vendor” and likewise on the vendor master there is a field “customer”.By entering these master data numbers, a link can be created between the AP/AR subledgers for use in the payment program, dunning routine and the clearing of open items.For example in the payment program, if a specific business partner is your vendor but also your customer, linking their master records together will allow the open AR invoices to be offset against the outstanding AP invoices.

 

3. What are terms of payments and where are they stored ?
Payment terms are created in configuration and determine the payment due date for customer/vendor invoices. They are stored on the customer/vendor master record and are pulled through onto the customer/vendor invoice postings. The due date derived via the payment can be changed on each individual invoice if required.

 

4. What is meant by a “baseline date” in SAP AR and AP ?
The baseline date is the date from which the payment terms (specified in IMG transaction OBB) apply Usually this is the document date on the invoice but can also be the date of entry or posting date from the ledger

 

5. What are one-time vendors ?
In certain industries (especially where there are a high volume of cash transactions), it is not practical to create new master records for every vendor trading partner. One-time vendors allow for a dummy vendor code to be used on invoice entry and the information which is normally stored in the vendor master (payment terms, address etc) , is keyed on the invoice itself.

 

6. What factors should be considered when configuring an Accounts Payable Vendor Group ?

The following are determined by the creation of a new AP vendor group (transaction OBD3)
1.  Whether the vendors in this group are one-time vendors – i.e. no master record is created but the address and payments details are entered against each invoice to this vendor
Field status group – which fields on the vendor master are suppressed, optional or mandatory when creating vendors belonging to this group
Additionally the vendor number ranges defined in transaction XKN1 need to be assigned to your vendor account groups in transaction OBAS. The decision needs to be made whether to assign an external number range (where the user chooses the master record number) or an internal number range (system assigned)

 

7. Name the standard stages of the SAP Payment Run.
The following steps are usually performed during the payment run
· Entering of parameters (company codes, payment methods, vendor accounts etc)
· Proposal Scheduling – the system proposes list of invoices to be paid
· Payment booking – the booking of the actual payments into the ledger
· Printing of payment forms (cheques etc)
Variations on the above may be found in different SAP customers, but the interviewer will be looking for the basis steps above.

 

8.In Accounts Receivable, what’s the difference between the ‘residual payment’ and ‘part payment’ methods of allocating cash ?
These are the two methods for allocating partial payments from customers.
As an example, lets say invoice A123 exists for 100$ and a customer pays 60$.
With partial payment, the 60$ simply offsets the invoice leaving a remaining balance of 40$
With residual payment, invoice A123 is cleared for the full value 100$ and a new invoice line item is booked for the remaining balance of 40$.

9. What is “dunning” in SAP ?
Dunning is the process by which payment chasing letters are issued to customers. SAP can determine which customers should receive the letters and for which overdue items.
Different letters can be printed in SAP depending on how far overdue the payment is; from a simple reminder to a legal letter.
The dunning level on the customer master indicates which letter has been issued to the customer.

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