What are the various organizational assignments to a company code?
Company Code is a legal entity for which financial statements like Profit and Loss and Balance Sheets are generated. Plants are assigned to the company code, Purchasing organization is assigned to the company code, and Sales organization is assigned to the company code.
What is the relation between a Controlling Areas and a Company code?
A Controlling area can have the following 2 type of relationship with a Company code
a. Single Company code relation
b. Cross Company code relation
This means that one single controlling area can be assigned to several different company codes. Controlling can have a one is to one relationship or a one is to many relationship with different company codes.
Controlling Area is the umbrella under which all controlling activities of Cost Center Accounting, Product Costing, Profit Center and Profitability Analysis are stored.
In a similar way Company Codes is the umbrella for Finance activities.
How many Chart of Accounts can a Company code have?
A single Company code can have only one Chart of Account assigned to it. The Chart of Accounts is nothing but the list of General Ledger Accounts.
What are the options in SAP when it comes to Fiscal years?
Fiscal year is nothing but the way financial data is stored in the system. You have 12 periods in SAP and also four special periods. These periods are stored in what is called the fiscal year variant.
There are two types of Fiscal Year Variant
• Calender Year – Jan-Dec, April -March
• Year Dependent Fiscal Year .
What is a year dependent fiscal year variant ?
In a year dependent fiscal year variant the number of days in a month are not as per the calendar month. Let us take an example:- For the year 2005 the period January ends on 29th, Feb ends on 27th, March ends on 29. For the year 2006 January ends on 30th, Feb ends on 26th, March ends on 30th. This is applicable to many countries especially USA. Ever year this fiscal year variant needs to be configured.
How does posting happen in MM (Materials Management) during special periods?
There is no posting which happens from MM in special periods. Special periods are only applicable for the FI module. They are required for making any additional posting such as closing entries, provisions. which happen during quarter end or year end.
How many currencies can be configured for a company code?
A company code can have 3 currencies in total. One which is called the local currency ( ie company code currency) and 2 parallel currencies can be configured.
When you do that the system has the flexibility to report in the different currencies.
Do you require to configure additional ledger for parallel currencies?
In case 2 currencies are configured. (Company code currency and a parallel currency) there is no need for an additional ledger. In case the third parallel currency is configured and is different than the second currency type, you need to configure additional ledger.
If there are two company codes with different chart of accounts how can you consolidate their activities?
In this case you either need to write an ABAP programme or you need to implement the Special Consolidation Module of SAP. If both the company codes use the same chart of accounts then standard SAP reports give you the consolidate figure.
Bank Accounting:
How is Bank Reconciliation handled in SAP?
Initially the payment made to a Vendor is posted to an interim bank clearing account. Subsequently, while performing reconciliation, an entry is posted to the Main Bank account. You can do bank reconciliation either manually or electronically. Refer to the configuration book on Bank accounting for accounting entries.
How do you configure check deposit?
The following are the steps for configuring check deposit:- Step1: Create account symbols for the main bank and incoming check account. Step2: Assign accounts to account symbols Step3: Create keys for posting rules Step4: Define posting rules Step5: Create business transaction and assign posting rule Step6: Define variant for check deposit
What is the clearing basis for check deposit?
In the variant for check deposit we set up the fields document number ( which is the invoice number), amount and short description of the customer. The document number and the invoice amount acts as the clearing basis.
How do you configure manual bank statement?
The following are the steps for configuring manual bank statement:- Step1: Create account symbols for the main bank and the sub accounts Step2: Assign accounts to account symbols Step3: Create keys for posting rules Step4: Define posting rules Step5: Create business transaction and assign posting rule Step6: Define variant for Manual Bank statement
How do you configure Electronic bank statement?
The steps for Electronic Bank Statement are the same except for couple of more additional steps which you will see down below Step1: Create account symbols for the main bank and the sub accounts Step2: Assign accounts to account symbols Step3: Create keys for posting rules Step4: Define posting rules Step5: Create transaction type Step6: Assign external transaction type to posting rules Step7: Assign Bank accounts to Transaction types
