31/Aug/2021 | 8 minutes to read
Here is a List of essential SAP FICO Interview Questions and Answers for Freshers and mid level of Experienced Professionals. All answers for these SAP FICO questions are explained in a simple and easiest way. These basic, advanced and latest SAP FICO questions will help you to clear your next Job interview.
These interview questions are targeted for SAP FICO. All mid level experienced professionals and freshers must know the answer of these frequently asked SAP FICO interview questions to clear an interview. We are trying to cover the latest questions for different topics like FI-AP (Accounts Payable), FI-AR (Accounts Receivable), FI-GL (General Ledger), FICO Support and many more. We are listing a few companies, which are providing SCM solutions are - Wipro, Accenture, pwc, Cognizant, IBM, Capgemini, Tech Mahindra, Infosys etc.
1. What is the SAP FICO module? Why is it used?
SAP FICO is the Business and Cost monitoring module in SAP ERP, where FI stands for Financial Accounting, and CO stands for Controlling. SAP FICO module is very robust
and covers almost all business processes across the industries.
SAP FICO allows an association to store a complete variety of their financial transaction data. Specifically, the purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting, SAP FICO permits an association to store a complete version of their financial transaction data, as well as to aid in current commercial planning and decision-making. For more visit SAP FICO.
2. What is general ledger master data in SAP FICO?
General ledger account master data is the long-term data of a general ledger account that specifies its function within the general ledger. The general ledger account master records control the posting of accounting transactions to general ledger accounts and the processing of the posting data. For more visit G/L Account Master Data.
3. What is the Open item Management in General ledger master in SAP FICO?
Open Item Management works as a indicator. If you set this indicator for an account in master record then all the line items in this
account are flagged as open or cleared.
The balance of account with this indicator is equivalent to balance of the open items. For more visit Open Item Management.
4. What is Cheque clearing?
5. How will you upload the legacy data in the SAP system?
6. What is APP in SAP FICO?
7. Explain AP and AR in SAP FICO
8. What is the EBS (Electronic Bank Statement) in SAP? Explain its use.
9. Explain lockbox in SAP FICO?
10. Is Lockbox the same as PO box?
11. What is the FEBAN in SAP FICO?
12. What are the different account symbols in SAP FICO?
13. Explain external transaction type in SAP FICO.
14. How do companies use Lockbox?
15. What are the benefits of using Lockbox?
1. How much will you rate yourself in SAP FICO?
When you attend an interview, Interviewer may ask you to rate yourself in a specific Technology like SAP FICO, So It's depend on your knowledge and work experience in SAP FICO.
2. What challenges did you face while working on SAP FICO?
This question may be specific to your technology and completely depends on your past work experience. So you need to just explain the challenges you faced related to SAP FICO in your Project.
3. What was your role in the last Project related to SAP FICO?
It's based on your role and responsibilities assigned to you and what functionality you implemented using SAP FICO in your project. This question is generally asked in every interview.
4. How much experience do you have in SAP FICO?
Here you can tell about your overall work experience on SAP FICO.
5. Have you done any SAP FICO Certification or Training?
It depends on the candidate whether you have done any SAP FICO training or certification. Certifications or training are not essential but good to have.
We have covered some frequently asked SAP FICO Interview Questions and Answers to help you for your Interview. All these Essential SAP FICO Interview Questions are targeted for mid level of experienced Professionals and freshers.
While attending any SAP FICO Interview if you face any difficulty to answer any question please write to us at firstname.lastname@example.org. Our IT Expert team will find the best answer and will update on the portal. In case we find any new SAP FICO questions, we will update the same here.