Interview Questions Set 14

1 What is Residual and Part Payment? Ans: The payment that clears original invoice with incoming amount and creates new line item for remaining outstanding amount is a Residual Payment, the payment that leaves the original invoice amount and creates new line item for incoming amount is known as Part Payment.

2 Where does the Field Status of GL Master Records control? Ans: Field status of GL Master records is maintained by the field status variant since it maintains all Field Status Groups.

3 List the Segments of GL Master Record? Ans: COA Segment Account Group, Nature of Account, Short Text, GL account long text, Trading Partner, Group Account Number. Company Code Segment, Account Currency Tax and Reconciliation account for account type OIM, FSG.

4 Why do the Field Status Group assigned to GL Master Record Controls? Ans: Field Status Group is assigned to GL Master Record Controls since it controls the account assignments that are mode of the account.  Specifically the field status group controls whether postings to const centers, internal order, profitability segments and so as they require and not allowed (suppressed), or optional.

5 Why does a group chart of Account is used and what is Country and operational chart of Account? Ans: Chart of Account is used for consolidation of Company Codes and this is for group consolidation purpose. Where as the Operational Chart Of Account is for a day to day activities which is mandatory. Coming to COA it is used for legal specific requirement of each country, which is additional and optional.

6 What are the segments in a Customer Master Record? Ans: The Segments in a Customer Master Record are: a) General Data Segment      b) Company Code Segment and   c) Sales are Segment.

7 What are the Segments in a Vendor Master Record? Ans: The Segments in a Vendor Master Record are: General Data Segment  Company Code Segment and Purchasing Organization Segment.

8 What does the Clearing Open Line Items and Open Line item Management means? Ans: OIM allows displaying the open and cleared items and amounts in an account; it is used if an offsetting entry is made for every line item posted in the account. The account is reconciled and cleared against another account. Such as Salary clearing account and GR/IR Clearing account. And where as the open item management is a further re conciliation function.

9 What does the internal and external number ranges means? Ans: The document, which was generated by the system automatically in a serial order allotting the next available progressive number, which should be numerical, is termed as Internal Number Range. The document generated manually by the end user. System will not lock automatically in this case. So the user can pick the number randomly and it may be alpha numeric. So it was termed as External Number Range.

10 What is APC? Ans: APC stands for Acquisition and Production costs. Acquisition means any asset, which you may, acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octopi, freight that you add and arrive at total cost of acquisition for capitalization of the asset. For ex say a computer. The total cost which you incur for the acquisition of the computer including installation will be your APC Production cost means any asset, which is created internally within the organization. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incur exp. for the same. For ex. say addition to the office building. Therefore APC includes any external acquisition or internal construction of exp., which needs to be capitalized.