Explain FI-MM Integration?

Answer

FI-MM Integration is based on the following:

1.    Movement Types

2.    Valuation Class

3.    Transaction Keys

4.    Material Type

The Movement Type is the ‘classification key’ indicating the type of material movement (for example, goods receipt, goods issue, physical stock transfer). The movement type enables the system to find pre-defined posting rules determining how the accounts in FI (stock and consumption accounts) are to be posted and how the stock fields in the material master record are to be updated.

The Valuation Class refers to the assignment of a material to a group of GL accounts. Along with other factors, the valuation class determines the GL accounts that are updated as a result of a valuation-relevant transaction or event, such as a goods movement. The valuation class makes it possible to:

1.    Post the stock values of materials of the same material type to different GL accounts.

2.    Post the stock values of materials of different material types to the same GL account.

The Transaction Key (also known as the ‘Event Key or Process Key’) allows users to

differentiate between various transactions and events (such as physical inventory transactions and goods movements) that occur within the area of inventory management. The transaction/event type controls the filing/storage of documents and the assignment of document numbers. The Material Type groups together materials with the same basic attributes, forWhen creating a material master record, you must assign the material to a material type.

The material type determines:

Whether the material is intended for a specific purpose, for example, as a Configurable

Material or Process Material.

1.    Whether the material number can be assigned internally or externally.

2.    The Number Range from which the material number is drawn.

3.    Which screens appear and in what sequence.

4.    Which user department data you may enter.

5.    What Procurement Type the material has that is, whether it is manufactured in-house or procured externally, or both Together with the plant, the material type determines the material’s inventory management requirement, that is:

6.    􀂃Whether changes in quantity are updated in the material master record.

7.    􀂃Whether changes in value are also updated in the stock accounts in financial accounting.

  example, raw materials, semi-finished products, or finished products.

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)?

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?

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

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