SAP Simple Finance Interview Questions Pdf

1. List the key features of SAP Simple Finance?
Answer:
The following are some of the available key features of SAP Simple Finance:

Financial Planning and Analysis

With SAP Simple Finance, companies can forecast, budget and plan as an ongoing approach. With the advantage of Predictive Analysis, companies can forecast the influence of business decisions on their organization financial reports.

Finance and Accounting

With the benefits of advanced Accounting and Finance features, companies can satisfy the legal terms. Further, they can finish the reports of Finance on time. (E learning Portal)

Financial Risk Management

With the benefit of Predictive Analysis, companies can determine the risks present in the processes of Finance at the initial stage itself and take steps to solve them. It is effortless to determine the best feasible investment rates regarding market standards.

Compliance and Risk Management

With a strong financial approach, it is effortless to avoid unauthorized access to important data in the enterprise. It is simple to identify abuse as well as fraud. The companies can able to balance the risk involved in entire financial processes.

2. What are posting periods?
Answer: The Posting period variant controls which posting periods, both normal and special, are open for each company code. It is possible to have a
different posting period variant for each company code in the organization. The posting period is independent of the fiscal year variant.

3. Explain what is capacity requirement planning?
Answer: It is a process for determining the quantity of machine and manual labor resources necessary to assemble a production.

4. What are document types and what are they used for?
Answer: Document type is the identifier of different account transactions like SA for G/L, AA for Asset Accounting, etc.The doc. Types control things
like the type of account that can be posted to, the number range assigned to it, and required doc header fields.

5. How are the tolerance group for employees used?
Answer: Tolerance group stores Posting amount defaults. Tolerance groups are assigned to User ID’s that ensures only authorized persons can make postings.

6. What Are The Main Advantages That Attract Customers To Migrate To Sap S/4hana?
Answer: The main vision and approach of the SAP are to support customers survive simply in the digital world. In order to deliver this mission, SAP S/4HANA redefining how enterprise software makes value. S/4HANA is mainly designed to power instant value across the business and industry lines with the superior sophistication – Simplicity.

Let us explore the advantages of Simple Finance from the point of business value.

SAP S/4HANA makes the unique chance to redefine business models and power new profits in addition to revenues. With Simple Finance, companies can easily link to devices, people as well as business networks to present additional value to their clients on any channels. Hence, offers the following benefits:

Big Data and the Internet of Things (IOT)becomes accessible to any kind of business.

Companies can simplify their approach, power them in a real-world environment and alter them as per their requirement in order to gain new proficiencies. That is, there is no further requirement for batch processing.

Business users can receive a vision of any kind of data from anywhere, including execution, planning, simulation, and prediction.

Let us explore the benefit of Simple Finance in the view of IT value:

The unique chances created by the SAP S/4HANA simplify the landscape. In addition, support condenses Total Cost of Ownership (TCO) with SAP S/4HANA.

Companies can now lessen their data footprint as well as a task with huge data sets in the seamless system (for instance, CRM, ERP, SCM, SRM, PLM co-deployed) in order to save costs of hardware, the cost of operation as well time.

It also made innovation very simple with the open platform (that is none other than SAP HANA Cloud Edition) in order to power advanced applications like recommending, predicting and simulating while protecting standing investments.

Business users can influence simply as well as role-based experience depending on current design principles that increase training efforts when raising productivity. The simple configuration of the SAP S/4HANA also supports the customer by modeling the system.

Enterprise gain opportunity of deployment such as On-Premise, Cloud, and Hybrid to power rapid time-to-value.

7. Suppose I have purchased goods of 10 units(raw materials or semi-finished goods) worth Rs10000 from vendor A (suppose) and also made payment for the same. Now during the manufacturing process, it was observed that 3 units are defective, now my question is how do we deal with the defective units in SAP as I have already made payment for the 10 units(i.e Rs10000).?
Answer:
If you have a GRN against these materials, then the same can be return
delivered. An appropriate movement type needs to be configured for the
same. As for the payment, raise a credit note on the vendor.

* Using Debit Memo you can get the money for defective 3 units.

8. Explain what is the difference between logistics and transport?
Answer: The difference between logistics and transport is:
Logistics: Logistics is referred to as the procedure of managing goods, resources, and information from the source to the consumers in a manner that fits the requirements of both parties.
Transportation: Transport is the movement of the goods from one point to the other. It is considered a part of logistics.

9. How is the SQL statement executed?
Answer: In the database of the HANA, each SQL query statement is executed with the transaction reference. For each new transaction, a new session is allotted.

10. Explain what is wave picking?
Answer: Wave picking is a technique of assigning orders into groups and release them together, so as to allow several activities to run parallel and complete the task.

11. Explain what is the meaning of Triage?
Answer: The sorting of products or goods based on their condition or quality is referred to as Triage. Some of the goods need to be repaired and sent back, others have to be sold off as used or defective goods.

12. Which Edition Of Sap S/4hana Do You Suggest For Our Companies?
Answer: The On-Premise Edition of the SAP HANA is designed to suit the organizations across companies, which require a broad and deep level of functionality integrated with a highly flexible range of personalization. The cloud edition of the SAP S/4HANA is designed to suit for the companies, which require a standardized cloud submission primarily handling the basic business scenarios of a company or certain business set-up of business lines in industries which are integrated with a rapid innovation cycle. In addition, this edition provides the chance for clients to deploy real-world hybrid setup, combine On-Premise and Cloud solutions for extraordinary IT flexibility as well as stimulated business innovation.

13. What are adjustment postings and its use? Give t.codes and paths if possible?
Answer: fb50,f-02, and others could be used for adjustments. These adjustments are to correct any financial representation that has already been booked into the accounts.

14. What are posting keys? State the purpose of defining posting keys?
Answer: Posting keys determine whether a line item entry is a debit or a credit as well as the possible field status for the transaction. Posting keys are SAP delivered. If u want changes like making additional fields optional on payment type posting keys then the best possible action is to copy the posting key that needs to be modified and then modify it.

15. Is it possible for a company to have positive cash flow but be in serious financial trouble?
Answer: Yes, it is. A company that is selling off inventory but delaying payables will show positive cash flow for a while–even though they’re in trouble. Another example would be where a company has strong revenues for the period but future forecasts show that revenues will decline. This would happen when a company hasn’t focused on making sure there were new prospects/sales in the pipeline.