Here’s a list of commonly asked interview questions in SAP Financial Accounting for your guide and reference: »» Enumerate all the necessary settings you need to do before configuring company code? »» Under asset accounting component, what are depreciation areas? »» What is chart of accounts? How many chart of accounts can be assigned to [...]

What’s the difference between ‘Reset’ and ‘Reverse’  of document(s) in SAP system? In SAP system, the Reset and Reverse terms are popularly use under Financial Accounting component. When do you Reset a document(s)? When do you Reverse a document(s).  Take a look at this explanation below: ‘RESET’ – you use reset document transaction if the document [...]

How do you treat advances/downpayment to Vendor? In Accounting point of view, Advances to vendors are treated in Accounting as Asset. The same treatment should be configured in SAP system. A special GL should be created for the said transactions with Vendors. The standard SAP transaction that you use to post advances to vendor is F-48. [...]