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SAP FI Accounts Receivable

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Top 50 SAP FICO Interview Questions & Answers

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Changes will take effect once you reload the page. Vimeo and Youtube video embeds: Training Tutorials SAP Interview Questions and Answers — Technosap we have listed some of most common SAP Interview questions and Answers are listed below, along with insights from several recruitment professionals about how to answer. The aim of any high level computer language is to provide an easy and natural way of giving a programm of instructions to a […] How to Configure Foreign Currency Valuation — Steps Foreign currency valuation is to be done for preparing the financial statements at a key date.

Documents posted in foreign currencies have to be converted to company code currency for […] How to Configure Foreign Currency Valuation in Sap? This is the process to translate and adjust foreign currency amount of monetary accounts to local amount by a current suitable exchange rate standard exchange […] Foreign Currency Valuation in SAP Foreign Currency Transactions: Here, we have added some […].

Accounts Receivable Interview Questions

Cookie and Privacy Settings. How we use cookies. In simpler terms it can be defined as the commercial activity of providing funds and capital. It addresses questions like --what funds are required by the org? How they can be raised? How they have to be allocated etc. It is the occupation of maintining and auditing records and preparing financial reports for a business. Accounts provides quantitative information about finances. It addresses issues like what amount of funds have been allocated to various activities how the book-keeping is being done etc.

Both functions are distinct but complimentary to each other. Finance and accounts are highly specilized and distinct areas and hence most organizations have seperate sections of finance and accounts. You should have recorded in your cash books all amounts you ve actually received and payments you ve actually made. However the cash books may be incomplete as your bank may have put extra transactions through your account such as:. By regularly doing a bank reconciliation say monthly you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements.

Assets are things which is provide service for long duration it may 3 years 4 years or for long period of time. These items capitalize in our account books and charge depreciation in every year according to these rate it may 20 10 What Is The Auto Invoice? A powerful tool to import and validate transaction data from other financial systems and create invoices debit memos credit memos and on-account credits.

Time periods you define to age your debit items.

Aging buckets are used in the Aging reports to see both current and outstanding debit items. For example you can define an aging bucket that includes all debit items that are 1 to 30 days past due. Reconciliation statement is formerly known as a tool which is used to reconcile the bank passbook and our passbook. Investment banking is a is a instrument which is used by the financial organization to take a better investment decision like issuing IPO stocks bond etc.

Accounts Receivables help small businesses by providing short-term liquidity. Also continued sales on credit provide the much needed continuity for small businesses. Debtors are the main role of the business. The goodwill of the concern is in the hands of debtors because he is the person who takes our product or raw material to the customer or manufacture. Explain What Is Brs? A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date.

One of the basic convention in accounting is separate legal entity. It means the business is different from those who manage it. When i contribute capital in to my business,it is liability to my business to repay it to me.

Accounts Payable Clerk Interview Questions And Answers

Explain What Are Derivatives? Derivative instrument is an asset which derives ie, takes its origin from another asset. The simplest form of derivative is a forward contract, "It is an agreement to buy or sell an asset at a certain future time for a certain price"Other forms of of derivatives include futures,options and swaps, etc. It is an expenditure the benefit of which will be realised over a period and not during the current period. Ex-Heavy Advertisement expenditure incurred by the company for promoting the product.

The benefits of this huge expenditure will be realised over the period and not in the same period when it is incurred. It is money receivable from sundry debtors for sales made or services rendered. What Is Effective Collection? Its depends on the credit period of the company i. A company credit period 30 days 85 of the debtors collection should be recovered with in credit period.

The next step would be adjusting receipt from customer against the customer outstanding with sale and to clear the customer account. Flow of Accounts receivable should be in proportion to Accounts payable i. What Is Evaluated Receipt Settlement? ERS is a business process between trading partners that conduct commerce without invoices. In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice ASN and the purchaser upon receipt confirms the existence of a corresponding purchase order or contract verifies the identity and quantity of the goods and then pays the supplier.

Accounts Receivable Practice Tests. As the Accounts Receivable Supervisor, you will: Oversee and resolve all issues related to cash application to ensure accuracy. Reconcile daily cash receipts to payment register.

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Design and implement new Accounts Receivable processes and procedures. Process short payment and accounts receivable adjustment forms. Develop and maintain reports to assess team productivity.


Invoice special customer accounts. Supervise five Accounts Receivable Associates. Other duties as may be assigned. Enter the Journal entry number. Enter the Date of transaction. Enter the Debit item as per the golden principles of accountancy. Enter the corresponding GL folio number. Enter the Debit amount. Enter the credit item as per the golden principles of accountancy. Enter the amount in the credit column. Provide a brief description of the transaction.