Answer / aruna

Hi ,

In our Yesterday's FB conversation You asked me about New GL .Now, Please let me explain you

New GL is important in the below scenarios .

1. we can prepare local company report/financial statements (eg. currency INR, Fiscal year k4 i.e jan to dec)

2. we can prepare group company report/financial statements (eg. currency eur, Fiscal year V3 i.e Apr to Mar)

3. we can prepare Local tax report/financial statements (eg. currency INR, Fiscal year V3 i.e Apr to Mar)

Advantages are

1.we have to maintain one chart of accounts (eg. 6000)

2.we can maintain Two fiscal years

3.we can maintain more than one currency (eg. EUR,INR)

Now a client can prepare 3 reports for one fiscal year with respective Exiting GL accounts.

Disadvantages in classic Gl

In classic GL Client can prepare only one report i..e legal local report .
if client wants to get more than one financial statement again need to create other gl accounts as same as existing gls (eg. TAx report )
It is duplication of data & will be difficult in reconciliation a/c types,open item accounts etc...

New GL has new concepts like

Document splitting
Ledger groups
parallel curriencies
expenses/revenues allocated among b'ness area,segment,profit center,cost of sales etc.... with one time posting of JV.

here we should mention clearly under which category Financial Statements need to prepare eg. IAS,IFRS,GAAP

Configuration of NEW GL settings

1. first we need to activate NEW Gl

2. Balances should be Zero,

3.Classic Gl Data can migrate to NEW GL

4.once we migrated Data to new gl , classic gl will be deactivate

5. but we should be careful in customer and vendor data as they are reconciliation account types.

Regards,
Aruna .

Answer / satish

Main difference is 4.7 to ECC6 are below furnished

1) Parlal ladger
2) Document Splitting
3) Segment reporting
4) online FICO reconcilation

If we are Maintaining diffrent tax Percentage rates in FTXP and pricing Procedure? what will happen in Accounts? which percentage will taken by system at the time of posting?

2 Answers   PWC,

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SAP FICO Interview Questions 1) Differences between company code and company 2) business area and PCA 3) Retained earnings Account 4) Account group functionality 5) field status variant 6) fiscal year variant Vs posting period variant 7) withholding taxes 8) tax on sales and purchases 9) use tax 10) Vat 11) jurisdiction code 12) external number range and internal number range 13) FI organizational structure 14) CO organizational structure 15) FI tables 16) CO tables 17) CO-PA tables 18) APP configuration steps 19) APP run steps 20) Importance of base line date 21) importance of next posting date in APP run 22) Dunning configuration 23) Dunning run steps SAP FICO Interview Questions 24) check printing program 25) Void and reprint checks 26) pre numbered checks 27) House banks 28) if vendor is a customer 29) dunning area 30) dunning key 31) dunning block 32) payment block 33) Journal entries in SD integrations 34) Journal entries Billing and PGI 35) Journal entries in FI-MM integrations 36) Journal entries for goods issue, scraping and goods issued to production 37) valuation class 38) validations and substitutions 39) valuation area 40) valuation modification 41) general modification 42) Material master views 43) FS00 all tabs 44) Vendor and customer master creation( all tabs) 45) ASAP methodology SAP FICO Interview Questions 46) All five phases in ASAP methodology 47) testing process 48) documentation 49) functional specs 50) user exits 51) customer exits 52) enhancements 53) tables view 54) work bench request and customizing requests 55) SM35 and SE38 screens 56) DEV, testing and PRD clients 57) Tickets / messages 58) problems faced in implementation and support 59) client, cross client, transport of configuration 60)LSMW 61)BDC 62) Debugging a program 63) Special GL accounts, Special GL Transactions, Alternative GL accounts 64) Down payment Request, Down payments, 65) Noted items 66) Parking a document and holding a document 67) sample document and recurring document SAP FICO Interview Questions 68)BRS 69) Clearing accounts 70)Open item management 71) line item display 72) bank sub accounts 73) payment terms 74) controlling area 75) versions 76) link between FI and CO 77) assessment and distributions 78) allocation structure 79) what is cost center 80) what is a profit center 81) Profit center configuration steps 82) Report painter 83) Report 84) Report groups 85) Report library 86) Statistical and Real postings 87) Standard hierarchy and alternative hierarchy 88) Transferring data to SD to COPA configurations 89) CO-PA configuration all steps 90) Month end closing SAP FICO Interview Questions 91) year end closing 92) Go-Live activities 93) Lock Box concept 94) cross company code transactions 95) settlements in co 96) difference between cost centers and internal orders 97) Reconciliation Accounts 98) Extended With Holding Taxes configuration steps – right from creation of WH Tax Types, Codes to Annual Return 99) What is chart of account and how many charts of accounts can be assigned to a company 100) What is residual payment and part payment 101) procurement cycle in MM 102) goods movement 103) What is GR/IR? What journal entries 104) Primary cost elements and secondary cost elements 105) How to configure FI and CO reconciliation account 106) Steps for electronic bank reconciliation statement 107) CO-PA Transfer of Incoming Sales Orders 108) Report Painter, How to reverse +/- signs 109) What is the relationship between Report Groups and the report groups

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