Accounts Receivable & Payable

Handling incoming and outgoing payments.

This subtopic covers the management of accounts receivable and accounts payable, including recording invoices, processing payments, and managing credit and collections.

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SAP S/4HANA - Accounts Receivable & Payable Example Questions

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Question 1

In SAP S/4HANA, which document type is for an Outgoing Invoice?

RE ZP AN KG KZ RV

Correct Answer: RV

Document type RV is used for outgoing invoices. AN is for net income, KZ is for cash payment, RE is for sales invoice, ZP is for payment advice, and KG is for goods confirmation.

Question 2

What is the purpose of the Recurring Entries feature in SAP S/4HANA Finance?

Calculating tax and interest amounts Automating foreign currency valuation Scheduling periodic postings of similar transactions Clearing accounts payable and accounts receivable Generating financial statements Reconciling accounts

Correct Answer: Scheduling periodic postings of similar transactions

Recurring Entries is used to schedule periodic postings of similar transactions, like rent, insurance premiums, or lease payments, automating these repetitive tasks.

Question 3

Which setting in SAP Financial Supply Chain Management (FSCM) is required for Credit Control Area assignment?

Assign Payment Term to Credit Control Area Assign Company Code to Credit Control Area Assign Plant to Credit Control Area Assign Business Area to Credit Control Area Assign Fiscal Year to Credit Control Area Assign Organization Unit to Credit Control Area

Correct Answer: Assign Company Code to Credit Control Area

In SAP Financial Supply Chain Management (FSCM), the 'Assign Company Code to Credit Control Area' setting is required to establish a relationship between the Company Code and the Credit Control Area, enabling credit management for the company.

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