SAP Journal Entry Guide

A journal entry (also known as a journal voucher / JV) is an entry or transaction used in the SAP general ledger to book amounts for assets, liabilities, expenses, and revenues for a company or entity.
Journal entries are initiated and completed by those at Duke with the proper security access to create journal entries in SAP R/3 at Duke.Those users are known as “Document Initiators”.

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Period End Steps in Cost Object Controlling and Variance Calculation

Period end closing in Controlling has always been a challenge. Variance calculation and its explanation has invariably sent shivers down the spine of all SAP consultants. WIP calculation too has at times been complex to understand. Based on 2 scenarios following steps are processed;

Scenario 1

  1. Display Process order to see the cost and other details
  2. Display Standard cost estimate
  3. Overhead calculation
  4. WIP process calculation
  5. Variance calculation
  6. Settlement

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SAP FI: Subledger Accounting Configuration Guide

This material contains instructions and configuration guides for:

  • Sub-ledger Accounting
  • Account Receivable Module
  • Creation of Accounts Groups for Customer (OBD2)
  • Create Number Ranges For Customer (XDN1)
  • Assign Number Range to Customer Account Group (OBAR)
  • Create Customer Reconciliation Account (FS00)
  • Create Customer Master Account (FD01)
  • Post Customer Invoice (FB7)
  • Tables associated to this module (Technical Part)

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SAP FICO Interview Questions&Answers

This document contains interview questions and answer related to SAP Finance & Controlling (FICO) module of the following topics:

  • Enterprise Structure
  • FI-GL
  • Accounts Receivable and Accounts Payable
  • Bank Accounting
  • Fixed Assets
  • FI-MM-SD Integration
  • Logistics Invoice Verification
  • FI Month End Closing Activities
  • Controlling Module
  • Cost Center Accounting
  • Internal orders
  • Product Costing
  • Work in Progress
  • Material Ledger
  • Profitability Analysis
  • Profit Center
  • Period End Closing Activities in Controlling

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Reversal Entry in Accounting

 Why do we pass reversal enteries?

At times some incorrect documents might have been entered in the systems.

If you have entered an incorrect document, you can reverse it.  Note that R/3 can reverse a document only if the following conditions are met:

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SAP Extended Withholding Tax Configuration

Withholding tax is applicable in few countries. Some of the countries which have withholding tax are United Kingdom, Slovakia, Turkey, Argentina, Brazil, Chile, Colombia, Mexico, India, Philippines , Thailand and South Korea. SAP has given an excellent solution to map the withholding tax scenario.

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Currency Types in SAP

There are 5 types of currency in SAP r/3 system.

1. Group Currency: You define Group Currency when you define Client (SCC4)
2. Global Company Currency: You define Global Company Currency when you define Company that is assigned to your company code.

3. Hard Currency: YOU define Hard Currency when YOU define the Country that your Company code assigned to. A hard currency is used in countries with high inflation.

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