Last Updated: June 17, 2018
If you're looking for SAP FICA Interview Questions for Experienced or Freshers, you are at right place. There are lot of opportunities from many reputed companies in the world. According to research SAP FICA has a market share of about 3.8%. So, You still have opportunity to move ahead in your career in SAP FICA Manager. Mindmajix offers Advanced SAP FICA Interview Questions 2018 that helps you in cracking your interview & acquire dream career as SAP FICA Developer.
Q1) What is the use of SAP FICA in the current industrial scenario?
The SAP FICA is one of the excellent industry-level solutions that are assisting organizations in improving customer relationship management (CRM) in lightning speed. It provides administrators to tackle customer issues and deal with them in enormous amounts and offer resolutions in the most effective way. Moreover, organizations have much more to do with FICA other than just carrying out essential transactional activities like tackling master data and preparing invoices. Its key components provide extended facilities that include SAP bill direct. This is a significant advantage when dealing with a substantial amount of customers.
Q2) Give an estimation of the amount of data that FICA can usually handle
The organizations utilizing SAP FICA generally deal with open items. The most significant challenge is that these organizations are clearly overwhelmed by the overrated amount of consumers which automatically increases the number of open items. The advanced design of FICA helps enterprises deal with nearly 'millions' f consumers efficiently with the management of open items that are approximately ten times more than the number of customers. FICA has the capability to process large databases by providing full control to organizational administrators, and it is mainly due to its adequate memory storage space. It has the capacity of running complex tasks such as.
Q3) What are the elements of the application administered by FICA documents for the current accounts assignments?
Q4) What are the top sectors in which the module of SAP FICA is widely used as a solution?
The sectors in which the SAP FICA acts as a core solution includes the following.
1. Public Sector
4. Insurance and allowance
Q5) What are the segments in which the reconciliation key is stocked?
The posing totals in FICA are categorized based on the independently identified reconciliation key. The reconciliation key in the SAP FICA are often stored in,
Q6) What are some of the core benefits of using SAP FICA
According to several surveys and studies, one of the foremost benefits of SAP FICA is that its usage not limited to any particular industry. It can be utilized even if the organization does not belong to the utility, insurance or telecommunication sectors. Moreover, the package's ability to deal with an extensive amount of customers in a short period with maximum cost-effectiveness has provided the organizations with the best leverage. The features like A/R information tracking, materials management (MD) allows tackling large customer databases in the most integrated technique.
Q7) Can you explain the difference between 'SAP FICA' and 'SAP FICO?'
SAP FICA and FICO are both highly advantageous and far-reaching modules presented by SAP. The FICO interface offers the ability to deal with much more critical and complex methodologies required in professional trading bodies. It is often utilized by Tax authority groups, banking businesses, managers, etc. There are ample facilities for personalizing the service obtained as per required specifications of users.
The SAP FICA was first introduced in the year 1999 and is one of the most entrusted modules in today's industry. It was mainly established to reduce pressure and mismanagement when it comes to handling a substantial amount of consumers. The FICA is a sub-ledger function that is used alternatively for the FI-AR -module as well as the accounts payable module.
Q8) State some of the specific utilities of SAP FICA in few points
The usefulness of FICA cannot be explained in a nutshell, but some of the main advantageous services would include the following:
1. SAP business affiliate concept
2. Simultaneous Mass Runs
3. FICA is also integrated to SAP packages that include BI, FSCM, CRM, etc.
4. Storage customization and optimization made possible by the advanced document scheme inbuilt in FICA
5. The documents are accredited to contract accounts and trade associates
Q9) Define the terms TDM and BDM
The master data theory model of the IS-U is grouped in two primary categories which include the following.
1. Technical data model(TDM) - Customers seek a large number of services from organizations, and the act of really catering a particular service to the consumer by utilizing a master data is categorized under the Technical Data model in SAP. For instance, a trading affiliate who can be an enterprise or an individual.
2. Business data model (BDM) - Customers are often charged and billed for several types of services. Organizations handle similar categories of service billings in infinite numbers and hence, they require an order-wise grouping procedure. Consequently, the master data used for charging consumers are considered under the BDM in the SAP, IS-U model.
Q10) Explain the concept of 'contract account' in SAP FICA
The contract account is a standard terminology often used when working with SAP FICA. It is the most significant medium through which business affiliates are connected to contracts. Several contracts can be categorized under many contract accounts, but when allocating a single contract, it is eligible for only one contract account. The contract account is a highly methodical and rational medium of categorizing multiple agreements. It is mainly utilized for tackling payment affairs, dunning, etc.
Q11) What is a point of Delivery?
The point of delivery is a universally recognized distinctive service location where a particular service or utility is catered. In the deregulated market scenario, there are extensive clusters of service providers leveraging consumers every day with innumerable types of service. For instance, a service provider catering power and electricity supply in an enterprise and its related locations where a different service provider is catering other services like extended assistance services, billing services, etc. To avoid disputes, the concept of point of delivery is introduced to detect a service point distinctively.
Q12) What happens in the process of installation?
The installation is a significant level that every service provider needs to pay attention to. It is a set of several billing techniques and methods that service providers need to follow. Each scheme is set as per the nature of service. It includes rate tariffs, billing schemes, etc. The systems are categorized as per registers in the notion that particular billing evaluations can be settled for their respective services.
Q13) According to you what is one of the drawbacks in the features of the FICA module?
The SAP FICA is definitely a dynamic module that is used by both experienced and contemporary business figures in today's date. However, the feature of reporting is bound to specific organizational infrastructure. Business figures using the SAP FICA need to have the Business Information Warehouse, that is the BW equipped with their infrastructure. Organizations willing to use the particular package need to install BW separately.
Q14) Substitution and confirmation are utilized in which application operations?
The application fields include,
1. Asset Accounting
3. Project system
4. Cost accounting
5. Profit unit accounting
Q15) State some of the modules where financial accounting is integrated
The peripheral modules are as follows.
Q16) Specifically, mention the organizational components in SAP FI
The organizational elements include the following.
1. Trade area
2. Enterprise code
3. Account Chart
4. Functional field
Q18) Explain the concept 'APP' in the module of SAP FICA
The full form of APP is automated payment program. It is one of the highest performing tools leveraged by SAP to its clients. Enterprises use it for carrying out financial transactions with consumers and vendors. It assists in bringing more accuracy and perfection in the process while dealing with consumers and vendors via hand-operated posting.
Q17) State the choices of Financial years in SAP
The financial or fiscal year is an organized method based on which the commercial information is treasured. SAP offers four specific periods and twelve regular periods. The particular periods are stocked in the financial year alternatives, which are,
1. Year dependent financial year
2. The calendar year that includes the periods from January to December and April to march.
Q19) How many categories of currencies can be composed for an enterprise code?
There are three categories of currencies composed of enterprise code. One of them is 'provincial currency,' and the other two are 'co-extending currencies.'
Q20) Provide the primary phases of the payment run process of SAP
The phases of the payment run include the following steps.
1. Parameter infiltrating (Enterprise code, dealer accounts, Payment strategies)
2. Scheduling request (A request for the paid bills are put forward by the system)
3. Payment reservation or booking (Indicates the reserving of the invoices in the ledger)
4. Printing forms of payment (For instance, cheque)
Q21) Define one-time dealers or vendors and how do they help?
An organization deals with a significant amount of transactional and financial and financial affairs. It is not feasible for them to introduce advanced master records for each business affiliates. This is precisely where the one-time vendor steps into the frame. It offers a dummy dealer code that is used as a template to carry out billing entries. It also allows utilization of the data stocked in the vendor or dealer master.
Q22) Name the generic exchange rate category that is used for every SAP transactional affairs?
The exchange rate category for every transactional activity in SAP is ‘M’, which is the 'average rate.'
Q23) What are the core elements that SAP FICA is dedicatedly integrated with?
The essential elements of SAP FICA integration are Customer relationship management (CRM), Controlling (CO) and SD. SAP invoice direct is another integration component that has contributed largely to the efficient functioning of organizations.
Q24) State the critical difference between an enterprise and enterprise code?
The enterprise code is a standard terminology often used in SAP. The company or enterprise code is the minor form of unit, in which a group of autonomous accounts can be utilized for extraneous reporting purposes. On the other hand, an enterprise or company is an organizational field that is being used in the legislative consolidation module to assimilate monetary statements of different enterprise codes.
Q25) How is the distinctive or particular period utilized in the financial variant?
The particular period of time is usually utilized to operate or carry out tasks aligned to the closing financial year. It may include insertion of audits, tax alteration ad regulation and more.
Q26) Define the concept of the posting period?
The posting period is usually responsible for deciding the type of posting period eligible for every enterprise code, and the types may include both special and regular. Often organizations possess differing posting period variants based on every company code within the enterprise.
Q27) What does a controlling area mean?
The concept of controlling area indicates a location where the activities like financial transactions, revenue evaluation, and other calculative affairs are managed. It is one of the chief enterprise units and is considered under the CO module.