C_TS4FI_2023 SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Questions and Answers

Accounts Payable & Accounts Receivable

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

References

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General Ledger Accounting

To post a reversal for a document posted in a closed posting period, you need to configure the reversal reason. This configuration allows you to enter the reversal with a different date than the original document. The reversal reason must be set up with specific parameters that permit posting in a different period, thus enabling the reversal even if the original period is closed.

• Access Transaction Code (FB08):Open the transaction for document reversal.
• Enter Document Details:Provide the document number, company code, fiscal year, and specify the reversal reason.
• Select Posting Date:Ensure that the posting date for the reversal is different from the original posting date and falls within an open period.
• Execute Reversal:Confirm the details and execute the reversal process.

By configuring the reversal reason with appropriate settings, SAP allows you to manage document reversals flexibly, even when dealing with closed periods.

References:

• SAP FICO documentation: "How to reverse a document in SAP FI? Use the T-code: FB08. Enter the following details: Document number to be reversed, Company Code, Fiscal year of posting, Reversal Reason, Enter posting date and period"​​.

General Ledger Accounting

In SAP S/4HANA, functional areas are defined at the client level, which means they are available across all company codes within the client. This ensures that the classification of expenses and revenues for reporting purposes is consistent throughout the entire organization.

• Defining Functional Areas:
• Configuration Steps:

ReferencesSAP S/4HANA Financial Accounting Configuration​​​​.

Accounts Payable & Accounts Receivable

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

For a company based in France with a permanent establishment in Switzerland where financial statements are required by law, the necessary organizational unit to create is:

Company code: A company code represents an independent accounting unit within SAP. It is the smallest organizational unit for which a complete, self-contained set of accounts can be drawn up for purposes of external reporting. Creating a separate company code for the Swiss establishment ensures that financial transactions are recorded in compliance with local legal requirements and financial statements are generated accordingly.

By establishing a company code for the Swiss location, the organization ensures compliance with Swiss financial regulations and accurate financial reporting.

References

• [28:1†1709119988077.pdf]

drawn up for purposes of external reporting. This includes recording all relevant transactions and generating necessary financial statements.

Here are the steps to create a company code in SAP S/4HANA:

• Define Company Code:
• Assign Company Code to Company:
• Define Additional Settings:
• Open and Close Posting Periods:

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

To achieve segment reporting in SAP S/4HANA, particularly when following IFRS accounting principles, the following elements are essential:

• Document Splitting:
• Segments:
• Profit Centers:

ReferencesSAP S/4HANA Configuration Guides and IFRS Reporting Best Practices​​​​​​.

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"​​.

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​​.

Accounts Payable & Accounts Receivable