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

Answer

When you post a ‘Goods Receipt’ (GR), the stock account is debited (stock quantity increases) and the credit goes to the GR/IR Clearing Account, which is the intermediate processing account, before you actually process the vendor invoice or payments to the vendor:

Debit: Inventory Account

Credit: GR/IR Clearing Account

During this (1) a material document is created, (2) an accounting document to update the relevant GL account is created, (3) PO order history is updated, and finally (4) the system enables you to print the GR slip.

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 ?

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’?

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