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sap real interview experience

The document provides a comprehensive guide on real-time interview questions and answers related to the Procure-to-Pay (P2P) process in SAP FICO, aimed at SAP FICO Consultants and Finance Professionals. It covers basic and advanced level questions, detailing the P2P process, key SAP modules, the significance of the GR/IR Clearing Account, and methods for processing vendor payments. Additionally, it addresses common errors and their resolutions, emphasizing the importance of accurate financial postings and compliance.

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5 views

sap real interview experience

The document provides a comprehensive guide on real-time interview questions and answers related to the Procure-to-Pay (P2P) process in SAP FICO, aimed at SAP FICO Consultants and Finance Professionals. It covers basic and advanced level questions, detailing the P2P process, key SAP modules, the significance of the GR/IR Clearing Account, and methods for processing vendor payments. Additionally, it addresses common errors and their resolutions, emphasizing the importance of accurate financial postings and compliance.

Uploaded by

kothapremkumarreddy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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🌟 Real-Time SAP FICO P2P Interview Questions & Answers 🌟

detailed interview questions on the Procure-to-Pay (P2P) process in SAP FICO, along with expert
answers and real-time examples. These questions are commonly asked in interviews for SAP FICO
Consultants, Business Analysts, and Finance Professionals.

🔥 Basic Level Questions


1️⃣ What is the Procure-to-Pay (P2P) process in SAP? Explain with an example.

✅ Answer:​
The Procure-to-Pay (P2P) process in SAP covers the entire procurement cycle, from requesting
goods/services to paying vendors. It integrates SAP MM (Material Management) with SAP FI
(Financial Accounting) for seamless operations.

Example:​
A company, ABC Ltd., needs 50 laptops for its employees.

●​ The IT team raises a Purchase Requisition (ME51N).


●​ The Procurement team creates a Purchase Order (ME21N) with a vendor.
●​ The laptops are received, and a Goods Receipt (MIGO) is posted.
●​ The vendor sends an invoice, and the Invoice Verification (MIRO) is completed.
●​ The finance team processes payment (F110/F-53) to the vendor.

✅ End Result: The company receives laptops, financials are updated, and vendor accounts are settled.

2️⃣ What are the key SAP modules involved in the P2P process?

✅ Answer:​
The P2P cycle integrates multiple SAP modules for a smooth workflow:

●​ SAP MM (Material Management): Handles procurement & inventory.


●​ SAP FI (Financial Accounting): Manages vendor payments & postings.
●​ SAP CO (Controlling): Tracks cost allocations.
●​ SAP SD (Sales & Distribution): If procurement involves inter-company transactions.

📌 Key T-Codes: ME21N, MIGO, MIRO, F110, F-53

3️⃣ What is a Three-Way Match in P2P? Why is it important?


✅ Answer:​
Three-Way Match ensures that the Purchase Order (PO), Goods Receipt (GR), and Invoice are aligned
before making payment to the vendor.

📌 Matching Components:​
1️⃣ PO (ME21N) – Ordered Quantity & Price​
2️⃣ GR (MIGO) – Received Quantity​
3️⃣ Invoice (MIRO) – Billed Amount

🔥 Example:​
If ABC Ltd. orders 50 laptops for $1000 each, but receives only 45, the invoice should match the
received quantity before payment is made. If the vendor overcharges, SAP will flag it for manual review.

✅ Importance of Three-Way Match:


●​ Prevents overpayment & fraud
●​ Ensures accuracy in financial records
●​ Reduces invoice discrepancies

4️⃣ What is the significance of the GR/IR Clearing Account in P2P?

✅ Answer:​
The Goods Receipt/Invoice Receipt (GR/IR) Clearing Account is a temporary account that ensures
synchronization between goods receipt and vendor invoices.

📌 Accounting Entries:​
At Goods Receipt (MIGO):

Inventory Account (Dr)


GR/IR Clearing Account (Cr)

At Invoice Posting (MIRO):

GR/IR Clearing Account (Dr)


Vendor Account (Cr)

🔥 Example:
●​ If goods arrive before the vendor's invoice, the GR/IR account holds the liability.
●​ If the invoice arrives before goods, SAP flags a discrepancy.

✅ Purpose: Ensures accurate financial reporting and smooth reconciliation.


5️⃣ What are the different ways to process vendor payments in SAP?

✅ Answer:​
Payments to vendors can be made in two ways:

📌 1️⃣ Automatic Payment Run (F110)


●​ System selects open invoices and processes payments automatically.
●​ Suitable for high-volume transactions.
●​ Payment proposals can be reviewed before execution.

📌 2️⃣ Manual Payment (F-53)


●​ User manually selects the invoice & posts the payment.
●​ Suitable for urgent or one-time payments.

🔥 Example:​
A company wants to pay $50,000 to a supplier. They can:

1.​ Use F110 for bulk processing.


2.​ Use F-53 for an urgent transaction.

✅ Key Benefits: Reduces manual effort, ensures timely payments, and improves vendor relationships.

🚀 Advanced Level Questions


6️⃣ How do you handle invoice discrepancies in the P2P process?

✅ Answer:​
Invoice discrepancies can arise due to:

●​ Quantity Variance (Invoice ≠ Goods Received)


●​ Price Variance (Invoice Price ≠ PO Price)
●​ Tax Differences

📌 SAP Actions:
●​ Use MRBR (Invoice Block Release) to resolve mismatches.
●​ Manually adjust the invoice in MIRO if required.
●​ Perform invoice reduction to match correct amounts.

🔥 Example:​
A PO is created for 100 items @ $10 each, but the invoice states $12 each.

●​ SAP flags this as a Price Variance.


●​ The AP team either rejects the invoice or approves the new price.
✅ Solution: SAP workflow can automate approvals for minor differences, reducing manual effort.

7️⃣ What is the impact of P2P transactions on financial statements?

✅ Answer:​
Each step in the P2P process affects financial statements:

📌 1️⃣ Goods Receipt (MIGO) → Balance Sheet Impact


●​ Inventory (Asset) ⬆
●​ GR/IR (Liability) ⬆

📌 2️⃣ Invoice Posting (MIRO) → Liability Increase


●​ Vendor Payable (Liability) ⬆
●​ GR/IR Account Cleared

📌 3️⃣ Payment Processing (F110/F-53) → Cash Flow Impact


●​ Bank Account (Asset) ⬇
●​ Vendor Payable (Liability) ⬇

🔥 Example:​
If a company delays vendor payments, it reduces cash outflows, improving working capital.

✅ Business Impact: Proper P2P management ensures better cash flow forecasting & financial
planning.

8️⃣ How do you perform automatic clearing of GR/IR accounts?

✅ Answer:​
GR/IR accounts must be cleared periodically to avoid accounting mismatches.

📌 SAP T-Code: F.13 (Automatic Clearing)


🔥 Example:​
If goods worth $10,000 were received but no invoice was posted, F.13 will match & clear entries once
the invoice is recorded.

✅ Key Benefit: Reduces open-item mismatches in the balance sheet.

9️⃣ What are the common errors in the P2P process & how do you resolve them?
✅ Answer:
🔍 Error 🔹 Resolution
PO price ≠ Invoice price Check MRBR, adjust manually if needed

Invoice posted twice Reverse invoice using FB08

GR/IR not clearing Run F.13 for automatic clearing

Payment blocked Release using F110 Proposal Review

🔥 Example:​
If a duplicate invoice is posted, FB08 can be used to reverse it before payment is processed.

✅ Prevention: Implement SAP Controls & Approval Workflows.

🔚 Final Thoughts
Understanding real-time SAP P2P scenarios helps in:​
✔️ Performing accurate financial postings​
✔️ Avoiding vendor disputes​
✔️ Ensuring compliance & transparency

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