What ‘Variances’ do You come Across in Invoice Verification?

Answer

The system needs to be configured properly with ‘Tolerances’ so that you are not hampered with variances when you try Invoice Verification. You need to define the lower and upper limits for each combination of the Company Code and the tolerance key defined for the various variances. The system then checks these tolerance limits and issues warnings or prevents you from proceeding further when you process an invoice. ‘Variances’ arise because of mismatch or discrepancies between the invoice and the PO against which the invoice has been issued. Normally you will encounter:

1. Price variances: If there is a discrepancy in invoice price and PO item prices.

2. Schedule variances: If the planned delivery date is later than the invoice postings.

3. Quantity variances: If the delivered quantity (or delivered quantity less the previously

invoiced quantity) is not the same as that of the invoiced quantity. When the invoiced

quantity is more than the GR, the system requires more GRs to square off the situation.

Please click on the question to find the answer

1. Explain the ‘Account Payables’ Sub module?

2. What Documents Result from ‘Procurement Processes’?

3. Describe a Purchase Cycle?

4.What is a ‘Purchase Requisition’ (PR)?
 5.What is a ‘Request for Quotation’ (RFQ)?

6.What is an ‘Outline Agreement’?

7.What is a ‘Contract’?

8.What is a ‘Release Order’?

9.What isa ‘Scheduling Agreement’?

10.  What is a ‘Quotation?

11.  What is a ‘Purchase Order’ (PO)?

12.What is a ‘PO History’?

13.  Will the FI Document be Created with the Purchase Order (PO)?

14.  Explain FI-MM Integration ?

15.  What Happens, in SAP, when You Post a ‘Goods Receipt’?

16.  Explain ‘Invoice Verification’ (IV) in SAP?

17.  How do You Deal with ‘Tax’ when You Post an Invoice?

19.  Outline ‘Vendor Payments’ in the SAP System?

20.  Explain ‘Automatic Payment Program?

21.  Explain ‘Automatic Payment Program’ Configuration?

22.  How do You Execute an ‘Automatic Payment Program’?

23.Can You Pay a Vendor in a Currency Other than the Invoice Currency?

24.  What is a ‘Payment Block’?

25.  How do You Release ‘Blocked Invoices for Payments’?

26.  What is the ‘Account Assignment Category’?

27.  What is a ‘Credit Memo’?

28.  What are ‘Special GL Transactions’?

29.Differentiate ‘Free Offsetting Entry’ from a ‘Statistical Posting?

30.  What is a ‘Noted Item’?

Please share some more questions which your looking for i will incorporate it and add in this list