TFIN50 Financial Accounting I Part 1 of 2 mySAP ERP Financials Date Exchange rates Unit 1: Basic settings TFIN50 In SAP Note no. Sap Fi Books Tfin50 - Download as Word Doc .doc /.docx), PDF File .pdf), Text File .txt) or read online. fi book. Goals. Configure and use organizational units, master data and documents of Financial Accounting; Configure and use the main SAP business processes for.
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Types of forms are: SAP Script Form Smart Form SAP PDF Form If you choose no exchange rate differences, the full exchange rate differences are not posted. You will have to find it on your own on Google. I do not think anyone will post links containing pirated material. If you need the certification material, syllabus etc. The following are included in TFIN •. SAP SAP Navigation. •. TERP01 Intro Level.: Consultant Academy Training. Exam.: Sample Questions.: PDF Link.
If you want to look at the business partner accounts assigned to a specific reconciliation account, you can select the field for the reconciliation account in the customer or vendor list RFDKVZ00 or RFKKZV00 via the free selections. Line Item Display Transaction figures are the totals of line item postings on the debit or credit side.
The balance is the difference between the debit and the credit transaction figure. When a user wants to look at this account online, they can only view the balance. Because this data is also stored in the documents, it is redundant and needs additional storage and system time.
When a user wants to look at this account online, they can view both the balance and the individual line items. You can use report RFSEPA01 to subsequently activate the line item display - read the documentation for this report before you execute it.
SAP TFIN50 Part 1
General Ledger Accounts Since the line item display takes up additional system resources, you should only use it if there is no other way of looking at the line items. You should not activate the line item display for: Open Item Management Items in accounts with open item management are specified as open or cleared.
Accounts with open item management must have line item display activated. Open item management is a prerequisite if you need to check whether there is an offsetting posting for a given business transaction. You can display open and cleared items separately, and therefore it is easy to see which business transactions still need to be cleared.
You should use open item management for the following accounts: Account in Local Currency You can select one of the following currencies as account currency: If the account currency is the local currency, the account can be posted to in any currency. The other currencies are translated into the local currency for each line item.
Transaction figures are managed for each currency: This applies whether or not line item display is activated. Only Balances in Local Currency If the "Only Balances in Local Currency" checkbox is set in the master data record, transaction figures are only managed for amounts converted to the local currency. You should select this field for clearing accounts where you want to clear accounts by assigning items with the same local currency amount with one another, without necessitating exchange rate difference postings.
It must not be set in reconciliation accounts for customers or vendors. The indicator is usually set in balance sheet accounts that are not managed in foreign currencies and not managed on an open item basis. Account in Foreign Currency Accounts with a foreign currency as the account currency can only be posted to in this foreign currency. Create both segments simultaneously centrally — Two-step: Chart of accounts segment 2.
You can also copy the financial statement version. You should therefore check your changes before saving. Group Chart of Accounts For internal purposes, cross-company code reporting may be useful, for example, financial statements that contain the items of several company codes. This is no problem as long as all company codes use the same chart of accounts. However, some company codes may have to use special charts of accounts because of legal requirements. If this is the case, the following procedure applies for internal reporting: This group chart of accounts must contain all of the group accounts.
Different accounts of one operational chart of accounts can refer to the same group account. General Ledger Accounts Disadvantage: Because the company codes use different operational charts of accounts, you cannot carry out cross-company code controlling. Country Chart of Accounts An alternative to using a group chart of accounts is to use a country chart of accounts.
All company codes use the same operational chart of accounts. Company codes that nevertheless require a special chart of accounts for external reporting have the following option: Every country chart of accounts number can only be used once. Since all company codes use the same operational chart of accounts for postings, you can carry out cross-company code controlling. Accounting clerks who may be familiar with the country charts of accounts will first have to get used to using the operational chart of accounts.
Charts of Accounts for a Group In the scenario of an international group as shown in the graphic, cross-company code cost accounting is possible for the European company codes, since the company codes in Spain, Germany, and England all use the same operational chart of accounts.
The European company codes all use chart of accounts INT as their operational chart of accounts. Cross-company code controlling is therefore also possible in North America. To create reports using the country chart of accounts, the board of the group has decided to define country-specific charts of accounts for the company codes.
The board also decided that the group does not need controlling for Europe and North America combined, but that they would like consolidation to take place. General Ledger Accounts Exercise 4: An authorized travel expense is an expense over 10, units of local currency approved by the Accounting manager.
The expense account numbers must fall within the range of AE to AE The disbursement account numbers must be within the range CD to CD Carry out the following tasks: When you copied company code in the previous exercise, you copied the chart of accounts as well as the company code segment for your company code. The associated account groups were also copied with the chart of accounts. For the general ledger accounts mentioned in the business scenario, the accounting department needs two additional account groups, one for the expenses and one for the disbursements.
Copy the account group "ERG. Create three general ledger accounts: Two for authorized expenses entertainment expenses, sports car rental expenses , and one for cash payments. To create the accounts use reference accounts that your instructor gives you. Use the new account group AE or CD for the new accounts.
Then display the chart of accounts for your company code. Account number: Your instructor will give you this information. You can use group account number for the new account for cash disbursements.
Name the possible field status definitions in the order of their priority: Different company codes can use the same. General Ledger Accounts Task 2: Reconciliation accounts are updated on a daily basis.
General Ledger Accounts Task 1: SAP Easy Access menu: Make settings so that you can display key information for example, AE , CD in all dropdown lists.
Copy the setting. This report shows you master data for every general ledger account.
Select the green arrow to return to the selection screen. You have just added three new general ledger accounts to your chart of accounts and run a report to check the chart of accounts for your company code. Different company codes can use the same chart of accounts.
General Ledger Accounts 6. Reconciliation accounts contain the total of the transaction figures for the corresponding subledger accounts. Reconciliation accounts Task 2: False The reconciliation accounts are updated realtime.
False You can only display the line items if the account is managed with line item display. True If you select a foreign currency as the account currency, you can only post amounts in this foreign currency to this account. True You can carry out cross-company code controlling if each company code uses the same operational chart of accounts.
He is interested in the structure of the customer and vendor accounts. Above all, he wants to know what options the search help gives him. This data can be accessed throughout the whole organization. Any company code that wishes to do business with a specific customer or vendor has to create a company code segment for this customer or vendor. This also creates a customer or vendor account. The Sales View of the Customer Account Because the sales and distribution department also stays in contact with a customer and has to know specific data about this customer, a.
Any sales area that wants to do business with a customer has to create a sales area segment first. The sales area segment contains sales area-specific data. The MM View of the Vendor Account Just as there is a sales area segment for customers, there are downloading organization segments for vendors.
Any downloading organization that wants to do business with a vendor has to create a downloading organization segment first. The downloading organization segment contains downloading organization-specific data. The Complete Customer Account A complete customer account consists of the following three segments: Master Data TFIN50 Usually, the sales area segment must at least be created for the sales area assigned to the company code. There may be other sales areas doing business with the customer as well.
The account number is assigned to the customer at the client level. This ensures that the account number for a customer is the same for all company codes and sales areas. The Complete Vendor Account A complete vendor account consists of the following three segments: There may be other downloading organizations doing business with the vendor as well. The account number is assigned to the vendor at the client level. This ensures that the account number for a vendor is the same for all company codes and downloading organizations.
Differences between SAP Manuals of TFIN50, TFIN52 & TFIN54
Centralized Versus Decentralized Maintenance AR The system offers separate functions for maintaining customer master records depending on the requirements of your organization. These data records can be maintained centrally for all areas or separately for Financial Accounting and Sales and Distribution.
For the rest of this course we will focus on the maintenance of customer master records in Financial Accounting. When implementing both Accounts Receivable and Sales and Distribution, members of both of these implementation teams must work together to decide how to configure customer master records and who will be responsible for their maintenance.
Centralized Versus Decentralized Maintenance AP As for customer master records, vendor master records can be maintained centrally for all areas or separately for Financial Accounting and Materials Management. For the rest of this course we will focus on the maintenance of vendor master records in Financial Accounting.
When implementing both Accounts Payable and Materials Management, members of both of these implementation teams must work together to decide how to configure vendor master records and who will be responsible for their maintenance. In this case, there is the risk of creating incomplete or duplicate master records.
You can then correct the accounts. You can prevent the creation of duplicate accounts as follows: Important fields are: The format is defined by company guidelines and practices. Customers or vendors who belong to one corporate group can be grouped together by a user-defined group key. This group key can be used for running reports, transaction processing, or for matchcodes. The name of the accounting clerk must be saved under an ID.
The name of the clerk is then printed on correspondence automatically. You can also use this ID for sorting dunning and payment proposal lists. You can enter explanatory texts in every segment. You can also create new customer and vendor master records with reference to an existing master record. The data that was copied should be checked and changed, if necessary, before the record is saved.
We recommend that you create a reference account for every account group. The IBAN contains a maximum of 34 alphanumeric characters and is structured differently in every country. It usually contains the country code, bank key, and account number.
For this reason, you cannot automatically generate and save the IBANs for several master records. You have to enter the IBAN manually in each master record.
For certain countries, the system generates a proposal. When you enter an IBAN for new bank details, the system can generate the country-specific bank details for certain countries. If necessary, make sure that the payment medium programs used can also output the IBANs.
However, if you use partner roles in Sales and Distribution, in some cases the account group can be changed from, for example, an ordering address to a ship-to address. The range of possible account numbers is divided into smaller number ranges. Number ranges must not overlap. Internal numbers are assigned by the system, whereas external numbers are entered by the user who creates the record.
External numbers may be alphanumeric. With internal number assignment, the system always assigns the next number available in the range to a new account. If you want to know how many numbers are left in a specific number range, you can display the Current Number. With external number assignment, the user chooses the account number. Numbers do not have to be assigned in sequence; therefore, a current number cannot be displayed. Each number range can be assigned to one or more account groups.
Normal Account or One-Time Account For all customers or vendors with whom you rarely do business, create a special customer and a special vendor master record. Status of the Fields in the Master Record The account group is used to control the fields displayed in the master record. For example, to ensure that all correspondence has complete address information, change the field status so that all address fields are marked as "required entry". Account group-specific control: Usually, the field status is controlled only by the account group.
This means that all accounts of one account group have the same screen layout. Transaction-specific control: The field status can be dependent on the master data transaction "Create", "Change" or "Display". Company code-specific control: You have already seen the account group-specific and the transaction-specific field status with the general ledger account groups.
You can control the field status for fields in the company code segment of customer and vendor master records via the company code-specific screen layout. You can hide fields that are not used in a specific company code, but enter values in these fields in other company codes. For example, if a company code does not want to use the dunning program, hide the relevant fields for this company code.
The account group-specific field status, the transaction-specific field status and the company code-specific field status are compared, and the field status with the highest priority is used. If you do not want to use the transaction-specific or company code-specific control, set the field status for all fields to optional.
The block is removed when a second person with authorization checks the change and confirms or rejects it. This list can be restricted by: The open items of the assigned account can also be displayed in the line item display and the open item selection screens.
To clear open items, you have to carry out the following steps: Is it possible to have several payment methods for a customer? Yes, a customer can have several payment methods. Yes, because the payment methods for a customer are maintained once at the company code level, so a customer can have one payment method for each company code, but just one.
No, only one payment method is allowed per customer. Payment methods are not maintained in the customer master data. Is it possible to change the dunning level, which was automatically generated by the dunning program? No, dunning levels can only be changed by the dunning program.
Yes, dunning levels can be changed manually in the customer master data. No, dunning levels cannot be changed once updated by the dunning program. Yes, dunning levels can be changed manually in the invoice. Is it possible to include invoices, which have not been selected in the dunning proposal by the dunning program, into the dunning run? No, in the dunning run you can only pay the invoices selected automatically by the dunning program.
Yes, in the dunning run you can include invoices, which were not automatically selected by the dunning program, but you want to dun.
No, in the dunning run you can only exclude invoices, which were automatically selected by the dunning program and you do not want to pay, but you cannot include any of the non-selected invoices. Yes, in the dunning you can include invoices, which were not automatically selected by the payment program and you want to dun, unless they have a dunning block.
All the posting, which were done to a customer, are posted to the GL account defined in the customer master data. The GL account is defined in the customer master data, so that all the postings done to the customer are transferred automatically to that GL account. Please indicate if the following statement is true of false.
The postings, which were done with special GL indicators, are displayed in the customer open items list. Yes, they will be displayed there, if a user indicates this in the selection screen. No, postings with special GL indicator can only be displayed in the GL account open items display. Two company codes share a customer. Is it possible to block for postings the customer in one company code, but at the same time to allow postings in another company code?
Yes, the customer can be blocked just in one company code. No, if the customer is blocked, posting will not be allowed in any company. Posting blocks are not allowed for customers. Yes, it can be blocked just in one sales area. Is it possible to automatically generate files for incoming payments from customers in the payment program? No, payment program can only be used for outgoing payments; it cannot be used for customers.
Yes, payment program can be used to generate files for incoming payment from customers. No, payment program can be used to generate files for payments from customers, but just for outgoing payments. A customer of a company is at the same time a vendor of this company. Is it possible that SAP automatically clears all items together in payment transactions? No, it is not possible.
Vendor items cannot be cleared with customer items. To do so, the vendor code should be assigned to the customer master data and the customer code should be assigned to the vendor master data. To do so, vendor code should be specified in the customer master data and customer code should be specified in the vendor master data.
Can SAP calculate and post the interest on arrears for overdue customer invoices? No, SAP can calculate the interest on arrears but it cannot post it. The posting needs to be done manually. No, SAP cannot calculate the interest nor post it. Yes, SAP can calculate the interest on arrears and post it.
Yes, this is done by the dunning program. Can a user do an automatic clearing of all open items of a customer? Yes, the automatic clearing process can do this.
It groups the open items according to the predefined criteria and, if the amounts are balanced, the clearing is done. It groups all the open items of each customer and, if the amounts are balanced, the clearing is done.
No, clearings can only be done manually on each customer account. Yes, the clearing is done automatically by SAP, when the amounts are balanced in the customer account. How is the dunning level of the invoices updated? The dunning level can be automatically updated by SAP when the dunning program is run and the invoices are due.
The dunning can be updated manually in the invoice by an accounting clerk. The dunning cannot be updated manually in the invoice by an accounting clerk. The dunning level is automatically updated by SAP. There is no need of running the dunning program.
Which of the following characteristics of a document can be determined by the document type? Account types that can be posted with this document type. Company codes that can be posted with this document type.
The number range that the system will assign to the documents posted with this document type. All the answers are correct. SAP is going to generate a payment using the payment program. Which house bank will the program use? If the house bank has been maintained in the vendor master data and in the open item, the program will use the one maintained in the vendor.
If the house bank has been maintained in the vendor master data and in the open item, the program will use the one maintained in the open item. If the house bank has not been maintained in the vendor master data or in the open item, SAP will use the first house bank entered in the ranking order of the payment program. If the house bank has not been maintained in the vendor master data or in the open item, SAP will use the house bank defined in the paying company code.
Which of the following features depends on the fiscal year variant? The number of posting periods per year. If the periods of the fiscal year variant correspond to the calendar year. The number of special periods per year. The day of the month, on which the posting period must be opened and closed. How many parallel currencies can be defined for a company code in SAP?
Just one, the company code currency. Just two, the company code currency and the group currency. Up to three. Is it possible to use withholding tax for customers? Yes, it is possible with the standard withholding tax functionality. Yes, but only if the extended withholding tax functionality is activated.
No, withholding tax cannot be used for customers as we will never pay them money. Withholding tax codes are not maintained in the customer master data. Posting keys control how the line item will be posted. Which of the following features are controlled by the posting key? Account type. Vendor, customer, GL, asset or material.
If it is a debit or credit item. If special GL indicator is allowed for the item.
Authorization group to control which user can post the item. Which of the following sentences are correct regarding FI Financial Accounting validations? Validations check the values entered by a user and modify these values if they are wrong.
Validations can check the values entered by a user in the header, in the line items or in the complete document. Validations can check the values entered by a user in the header and in the line items, but not in the complete document. A house bank is defined in SAP. In which related customizing could the house bank be used? It can be used in the customizing of check management to control the ranges of checks issued by this bank.
It can be used in the customizing of SAP stock market tool to retrieve stock market index according to the standard specified by this bank. It can be used in the customizing of payment program to generate payments according to the standard specified by this bank.
It can be used in the customizing of electronic bank statement to process bank statements according to the standard specified by this bank. How many charts of depreciation can a company have in SAP? You can assign to a company as many chart of depreciation as you may need.
You can assign to a company just one chart of depreciation. Asset classes can be defined in SAP. Which of the following features are controlled by them? The number range that will be assigned by SAP to the assets created under this class. The fields that will be available or mandatory when creating the asset master data.
The GL account determination used by the assets created under this class. The capitalization date that will be assigned by SAP to the assets created under this class. Which of the following features are controlled by the depreciation keys specified in the asset master data? The fields, which are available in the asset master data. To which GL account the depreciation will be posted. How the asset will be depreciated. The useful life of the asset.
Which of the following features are controlled by foreign currency valuation methods? The posting document that SAP will use to post valuation exchange differences.
The posting document type that SAP will use to post valuation exchange rate differences. The date that SAP will use to calculate the exchange rate differences. The valuation procedure that SAP will use to calculate the exchange rate differences.
Which of the following features are controlled by the interest calculation indicators? The items that will be used for the interest calculation.
SAP FI (FI/CO) TFIN50 & TFIN52 Certification Materials EHP7
The value of the reference interest rates that will be used for the calculation. The type of calculation that will be used for the calculation. The type of calendar that will be used for the calculation.
Please indicate which of the following statements regarding the closing cockpit are correct. The closing cockpit allows closing the posting period in one step. The closing cockpit allows processing of a sequence of SAP standard tasks. However, non-standard tasks are not allowed there. The closing cockpit allows processing of a sequence of SAP tasks. These tasks can be standard SAP tasks or programs developed by a customer. The closing cockpit displays a calendar with the closing tasks defined for the company as a reminder, but tasks cannot be executed from the closing cockpit, they need to be run in another session.
Please indicate which of the following statements regarding the balance interest calculation process are correct. Please indicate which of the following statements regarding the automatic clearing process are correct.
This process clears open items from vendor and customer accounts automatically, based on the criteria defined in the customizing for the vendor and customer accounts automatic clearing, but excluding special GL account postings, which cannot be cleared automatically.
This process clears open items from vendor and customer accounts automatically, based on the criteria defined in the customizing for the vendor and customer accounts automatic clearing, including special GL account postings, if the user wants them to be cleared. What does the recurring entries execution process allow?
SAP FI Certificate
This process allows the creation of new recurring entries and the posting of them during the second step. This process allows the posting of the recurring entries pending to be posted up to the date, on which the process is run. This process allows the posting of the recurring entries, which are pending to be posted and are included in the settlement period specified in the selection screen.
This process allows parking of the recurring entries, which are pending to be posted and are included in the settlement period specified in the selection screen. Course Participation Certificate from Lithan Pvt. When you enrol, you will commit to the following learning hours. Course Duration with Study Options. Course Structure Course Structure. The modules of this course are: Outline Schedule. Session Outline Activities. Course Outline. Course Schedule.The entry you select in the Superordinate Org.
Dunning by Dunning Level: Whether the exchange rate is defined or communicated using the direct or indirect method of quotation depends on the market standard or the individual business transaction. For example, to ensure that all correspondence has complete address information, change the field status so that all address fields are marked as "required entry".
The IBAN contains a maximum of 34 alphanumeric characters and is structured differently in every country. You can also assign authorizations for worklists.
Enter the additional line items for the document in the table in the lower part of the screen. Task 1: Once the task list has been released, the tasks defined in the task list are selected and scheduled in the Financial Closing Cockpit application.