SAP C_TS4FI_2023 SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Exam Practice Test

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General Ledger Accounting

In SAP S/4HANA, currency types are critical as they define the currencies in which transactions and reports are recorded. The default currency types in SAP S/4HANA include:

• 00 = Document currency: This is the currency in which the original transaction is recorded. It is essential for maintaining the accuracy and consistency of transactional data.
• 10 = Company code currency: Also known as the local currency, this is the currency used for the company's internal accounting and financial reporting. Each company code is assigned a specific local currency, ensuring that financial statements are prepared in a standardized manner.

These currency types are foundational in SAP S/4HANA and are automatically included in the system configuration to support various financial operations and reporting needs.

References

• [25:26†SAP 4_HANA FICO.pdf]
• [28:1†1709119988077.pdf]

Organizational Assignments and Process Integration

When assigning newly created company codes to the same controlling area in SAP S/4HANA, it is essential to ensure that certain settings are consistent across all company codes. The required common settings include:

• Fiscal year variant: The fiscal year variant defines the financial periods and special periods used for accounting. Having a common fiscal year variant ensures that all company codes within the same controlling area follow the same financial period structure, facilitating consolidated financial reporting and management.
• Operating chart of accounts: The operating chart of accounts is the primary list of accounts used for financial accounting. It must be uniform across all company codes in the same controlling area to ensure consistent financial data recording and reporting, enabling accurate internal and external financial analysis.

These settings ensure that financial data is harmonized across the company codes, supporting integrated financial management and reporting.

References

• [25:27†Procedimiento Creacion nuevos elementos (Cta,PosLiq,Cege,Fondo,Recurrencia)v2 (1).docx]
• [27:3†MEGA_Manual-de-usuario_Business-Partner_v0.pdf]

Financial Closing

Accounts Payable & Accounts Receivable

• Link to Leading Ledger OL:
• Real-Time Posting:

References

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General Ledger Accounting

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Asset Accounting

Accounts Payable & Accounts Receivable

Accounts Payable & Accounts Receivable

Accounts Payable & Accounts Receivable

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To post depreciation costs to a different cost center than the one specified in the asset master data during the depreciation run, you can create a substitution rule in Financial Accounting. This allows the system to override the cost center specified in the asset master record with a different cost center at the time of posting.

• Creating a Substitution Rule:
• Implementing the Substitution:

This approach provides flexibility and control over cost center assignments without needing to alter the master data directly, ensuring accurate and intentional financial postings.

References:

• Business Processes in Management Accounting in SAP S/4HANA .
• SAP S/4HANA Configuration Document​​.

• Residual Item Becomes a New Receivable: When you post an incoming payment with a residual item, the remaining balance that is not covered by the payment is treated as a new receivable. This means a new open item is created in the customer’s account representing the unpaid amount.
• Original Document and Payment are Cleared: The original invoice and the payment are cleared in the accounting system. This involves matching the payment against the original invoice, thereby updating the status of the original invoice to cleared and creating a new open item for the residual amount.

References

• Detailed procedures on how these processes are managed within SAP can be found in SAP training materials and configuration documents. Specifically, the handling of residual items and the clearing process are elaborated in SAP FICO modules documentation​​​​.

Financial Closing

The chart of accounts level in SAP contains several critical fields for a G/L account. These fields help categorize and describe the account, ensuring consistent financial reporting and integration.

• Group Account Number:Used for consolidation purposes, linking similar accounts across different company codes.
• Short Text:Provides a brief description of the G/L account, making it easier to identify and understand its purpose.
• Account Group:Determines the number range and field status for the G/L account, ensuring it aligns with the company's chart of accounts structure.

Maintaining these fields ensures that the G/L account is accurately reflected in the financial statements and is properly integrated with other financial processes.

References:

• SAP FICO documentation: "Maintain group account number, short text, and account group at the chart of accounts level to ensure proper account categorization and description"​​.