At what level are the customer and vendor code stored in SAP?
The customer and vendor code are at the client level. That means any company code can use the customer and vendor code by extending the company code view.
How are Vendor Invoice payments made?
Vendor payments can be made in the following manner:
Manual payments without the use of any output medium like cheques etc
Automatic Payment program through cheques, Wire transfers, DME etc.
How do you configure the automatic payment program?
The following are the steps for configuring the automatic payment program:-
Step 1 Set up the following:
Co. code for Payment transaction
Define sending and paying company code.
Tolerance days for payable
Minimum % for cash discount
Maximum cash discount
Special GL transactions to be paid
Step 2 Set up the following:
Paying company code for payment transaction
Minimum amount for outgoing payment
No exchange rate diff
Separate payment for each ref
Bill/exch payment
Form for payment advice
Step 3 Set up the following:
Payment method per country
Whether Outgoing payment
Check or bank transfer or B/E
Whether allowed for personnel payment
Required master data
Doc types
Payment medium programs
Currencies allowed
Step 4 Set up the following:
Payment method per company code for payment transactions
Set up per payment method and co. code
The minimum and maximum amount.
Whether payment per due day
Bank optimization by bank group or by postal code or no optimization
Whether Foreign currency allowed
Customer/Vendor bank abroad allowed
Attach the payment form check
Whether payment advice required
Step 5 Set up the following:
Bank Determination for Payment Transactions
Rank the house banks as per the following
Payment method, currency and give them ranking nos
Set up house bank sub account (GL code)
Available amounts for each bank
House bank, account id, currency, available amount
Value date specification
Where do you attach the check payment form?
It is attached to the payment method per company code.
Payment terms for customer master can be maintained at two places i.e. accounting view and the sales view.
Which is the payment term which actually gets defaulted in transaction?
The payment term in the accounting view of the customer master comes into picture if the transaction originates from the FI module. If an FI invoice is posted (FB70) to the customer, then the payment terms is defaulted from the accounting view of the customer master.
The payment term in the sales view of the customer master comes into picture if the transaction originates from the SD module. A sales order is created in the SD module. The payment terms are defaulted in the sales order from the sales view of the customer master.
Payment terms for vendor master can be maintained at two places i.e. accounting view and the purchasing view.
Which is the payment term which actually gets defaulted in transaction?
The payment term in the accounting view of the vendor master comes into picture if the transaction originates from the FI module. If an FI invoice is posted (FB60) to the Vendor, then the payment terms is defaulted from the accounting view of the vendor master.
The payment term in the purchasing view of the vendor master comes into picture if the transaction originates from the MM module. A purchase order is created in the SD module. The payment terms are defaulted in the purchase order from the purchasing view of the vendor master.
Explain the entire process of Invoice verification from GR to Invoice verification in SAP with accounting entries?
A goods receipt in SAP for purchased material is prepared referring a purchase order.
When goods receipt is posted in SAP the accounting entry passed is:-
Inventory account Debit
GR/IR account credit
A GR/IR (which is Goods receipt/Invoice receipt) is a provision account which provides for the liability for the purchase. The rates for the valuation of the material are picked up from the purchase order.
When the invoice is booked in the system through Logistics invoice verification the entry passed is as follows:-
GR/IR account debit
Vendor credit
How are Tolerances for Invoice verification defined?
The following are instances of tolerances that can be defined for Logistic Invoice Verification.
c. Small Differences
d. Moving Average Price variances
e. Quantity variances
f. Price variances
Based on the client requirement, the transaction can be “Blocked” or Posted with a “Warning” in the event of the Tolerances being exceeded.
Tolerances are nothing but the differences between invoice amount and payment amount or differences between goods receipt amount and invoice amount which is acceptable to the client.
Can we change the reco account in the vendor master? If so, and how? What is the impact on the old balance?
Reconciliation account can be changed in the vendor master provided that authority to change has been configured. Also any change you make to the reconciliation account is prospective and not retrospective. The old items and balances do not reflect the new account only the new transactions reflect the account.
