SAP C_TS4FI_2023 Online Practice Questions and Exam Preparation

SAP C_TS4FI_2023 Online Questions & Answers

• Question 1:

  Which parameters can you configure on the dunning level? Note: There are 2 correctanswers to this question.

  A. Days in arrears
  B. Payment deadline
  C. Interest indicator
  D. Line item grace period
  A. Days in arrears
  D. Line item grace period

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  explanation:

  Explanation/Reference:

• Question 2:

  You want to include multiple company codes in a single payment run. What are the prerequisites for the company codes?

  A. They must belong to the same controlling area.
  B. They must all belong to the same company.
  C. They must be located in the same country.
  D. They must have the same configuration for payment transactions.
  B. They must all belong to the same company.
  D. They must have the same configuration for payment transactions.

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  explanation:

  Explanation/Reference:

• Question 3:

  What separates the leading ledger from other parallel standard ledgers?

  A. It is assigned to all company codes.
  B. It is used for performing segment reporting.
  C. It is used to represent the group valuation.
  D. It doesn't derive values from other ledgers.
  D. It doesn't derive values from other ledgers.

• Question 4:

  You notice that the GR/IR account does not have a zero balance.

  What could be the cause? Note: There are 2 correctanswers to this question.

  A. A purchase order has a goods receipt and an invoice receipt with the same quantity and values.
  B. A purchase order has a goods receipt and an invoice receipt with the same quantity but with different values.
  C. A purchase order has a partial goods receipt for which we have not yet received an invoice.
  D. A purchase order has a partial invoice receipt but not yet a goods receipt.
  B. A purchase order has a goods receipt and an invoice receipt with the same quantity but with different values.
  C. A purchase order has a partial goods receipt for which we have not yet received an invoice.

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  explanation:

  Explanation/Reference:

  The GR/IR (Goods Receipt/Invoice Receipt) account is used to temporarily record the value of goods received and the corresponding invoice received. Discrepancies in the GR/IR account balance can occur due to several reasons:

  Different Values for Same Quantity:

  Scenario:The goods receipt (GR) and invoice receipt (IR) for a purchase order have been posted with the same quantity but with different values.

  Impact:This causes a discrepancy because the value recorded for the GR does not match the value recorded for the IR, leading to a non-zero balance in the GR/IR account.

  Solution:Reconcile the values by checking and correcting the differences in the posted documents.

  Partial Goods Receipt without Invoice:

  Scenario:A purchase order has a partial goods receipt, and the invoice for the received goods has not yet been received or posted.

  Impact:This leads to a temporary imbalance in the GR/IR account as the goods received are recorded without a corresponding invoice, resulting in an outstanding balance.

  Solution:Ensure timely posting of invoices for all received goods to match the GR entries.

  By understanding these scenarios, you can identify and resolve issues causing imbalances in the GR/IR account.

• Question 5:

  You are posting a general journal entry for your company code. After posting the entry, you notice the document number is in the wrong number range.

  After reversing the document, what do you need to change when reposting the document?

  A. Assignment
  B. Document number
  C. Posting key
  D. Document type
  D. Document type

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  explanation:

  Explanation/Reference:

  Understanding the Issue:

  When posting a general journal entry, the document number range is determined by the document type. If you receive an error indicating that the document number is not in the accepted range, it implies that the document type's number

  range is not correctly configured.

  Reversing the Document:

  After reversing the incorrect document, you need to change the document type to one with an appropriate number range. This ensures that the reposted document will fall within the acceptable number range.

  Steps to Repost the Document with Correct Number Range:

  Access the relevant transaction: Use the appropriate transaction code for posting the general journal entry, such as FB50 .

  Select the correct document type: When entering the journal entry details, select a document type that has the correct number range. This can be done in the header section of the journal entry screen.

  Post the entry: Proceed with entering the necessary details and post the journal entry. The system will now use the number range associated with the new document type, avoiding the previous error.

• Question 6:

  From which G/L account types are values shown in the profit and loss (PandL) statement? Note: There are 3 correctanswers to this question.

  A. Non-operating Expense or Income
  B. Balance Sheet Account
  C. Primary Costs or Revenue
  D. Secondary Costs
  E. Cash Account
  A. Non-operating Expense or Income
  C. Primary Costs or Revenue
  D. Secondary Costs

• Question 7:

  What is the prerequisite for a G/L account to switch off open item management for it?

  A. It has not been posted to.
  B. It has a zero balance.
  C. It has been blocked against postings.
  D. It has no open items.
  D. It has no open items.

• Question 8:

  How does the system determine the relevant accounting principle when performing foreign currency valuation?

  A. Via the valuation type
  B. Via the valuation method
  C. Via the valuation class
  D. Via the valuation area
  B. Via the valuation method

• Question 9:

  You run the balance carry forward for your company code. When looking at the log you see there is an error with regards to Asset Accounting.

  What is the cause of the error?

  A. You have incomplete asset master records.
  B. You have not closed the previous fiscal year.
  C. You have not posted depreciation completely.
  D. You have not run the settlement for your assets under construction.
  C. You have not posted depreciation completely.

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  explanation:

  Explanation/Reference:

  In SAP S/4HANA, when running the balance carry forward for a company code, it is crucial that all the necessary year-end activities have been completed to ensure a smooth transition to the new fiscal year. One common cause of errors

  related to Asset Accounting during this process is the incomplete posting of depreciation. Depreciation must be fully posted for all assets to ensure that the asset values are correctly carried forward.

  Check Depreciation Run:

  Execute transaction code AFAB to check the status of the depreciation run.

  Ensure that the depreciation is posted for all periods up to the end of the fiscal year.

  Review Depreciation Posting:

  Navigate to Asset AccountingPeriodic ProcessingDepreciation Posting .

  Verify if there are any unposted depreciation runs by checking the posting log.

  Complete Depreciation Posting:

  If depreciation is not fully posted, execute the depreciation run using transaction code AFAB .

  Select the appropriate parameters and ensure that the run covers all relevant periods.

  Verify Year-End Closing Activities:

  Ensure all year-end closing activities in Asset Accounting are completed.

  This includes running the year-end closing program for asset accounting using transaction code AJAB .

  By ensuring that depreciation is fully posted, the balance carry forward process can correctly include the depreciation values, thus avoiding errors.

• Question 10:

  On which levels do you define FI-AA account determination? Note: There are 2 correctanswers to this question.

  A. Client
  B. Chart of depreciation
  C. Chart of accounts
  D. Company code
  B. Chart of depreciation
  C. Chart of accounts

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  explanation:

  Explanation/Reference:

  In SAP S/4HANA, the account determination for FI-AA (Financial Accounting - Asset Accounting) is defined on multiple levels to ensure proper categorization and posting of asset transactions. The two primary levels where account

  determination is defined are:

  Chart of Depreciation:

  The chart of depreciation is a key organizational unit in Asset Accounting. It contains the rules for calculating depreciation and valuation for various asset classes.

  Account determination is configured within the chart of depreciation to ensure that each asset class is linked to the appropriate general ledger accounts for transactions such as acquisition, depreciation, retirement, and transfer.

  To configure account determination at this level, navigate toFinancial AccountingAsset AccountingOrganizational StructuresMaintain Chart of Depreciation (transaction code OAOB

  ).

  Chart of Accounts:

  The chart of accounts is another crucial level where account determination for assets is configured. It includes a complete list of all general ledger accounts used by a company.

  Specific asset-related accounts are defined within the chart of accounts and linked to various asset classes and transactions through account determination settings.

  This configuration ensures that asset transactions are accurately posted to the correct accounts in the general ledger.

  Access the chart of accounts configuration viaFinancial AccountingGeneral Ledger). AccountingMaster DataGL AccountsIndividual Processing FS00

  Steps to Define Account Determination:

  Maintain Chart of Depreciation:

  Use transaction code OAOB to define and maintain the chart of depreciation.

  Assign the appropriate accounts for various asset transactions within the chart.

  Maintain Chart of Accounts:

  Use transaction code FS00 to create or modify general ledger accounts.

  Ensure that asset-related accounts are correctly defined and linked to asset transactions.

  By configuring account determination at both the chart of depreciation and chart of accounts levels, SAP S/4HANA ensures accurate and systematic financial reporting and compliance with accounting standards.