What is the ‘Account Assignment Category’?

Answer

The ‘Automatic Account Assignment’ logic takes care of posting to the correct GL accounts for ‘Stock Material’ with the ‘Material Type’ permitting inventory management, and the material master contains information as to which GL account needs to be updated. But there are material line items (‘Non-Stock’ materials) created manually in the Purchase Requisition/Purchase Order/Outline Agreement for which someone needs to decide the account assignment data and manually enter it in the Purchase Requisition. Here, the Account Assignment Category determines where to allocate the costs relating to such materials. The account assignment category helps you to define the type of account assignment (Sales Order-C, Project-P, Cost Center-K, etc.) and which accounts are to be posted to when GR/IR is posted to.

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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?

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’?

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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