What is a ‘Release Order’?

Answer:

A ‘Release Order’ is a ‘purchase order’ created against a Contract. The release orders usually do not contain information on quantities or delivery dates and are also called ‘Blanket Releases,’ Contract Releases,’ or ‘Call-Offs.’

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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’?

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’?

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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