SAP Logistics Invoice Verification – Interview Questions

SAP Logistics Invoice Verification

SAP Logistics Invoice Verification is a part of the SAP Logistics process (MM and SD). It is importantly connected with SAP FICO as during SAP FI-SD integration (and FI-MM integration), an accounting document is generated for Finance regarding logistics invoices.

These questions on SAP Logistics Invoice Verification help you get deeper into the subject. Not only will help you to understand the concept but also prepare for your SAP FICO interviews as well.

Read them in detail below.

Q1. – Can you assign multiple G/L accounts in the Purchase order for the same line item?

Ans. – Yes, we can assign multiple G/L accounts in the Purchase Order for the same line item. The cost can be allocated on a percentage or quantity basis. If the partial goods receipt and partial invoice receipt have taken place, then the partial invoice amount can be distributed proportionally among the account-assigned items of a purchase order.

Also, the partial invoice amount can be distributed on a progressive fill-up basis i.e the invoiced amount is allocated to the individual account assignment items one after the other.

Also Read: FI SD & FI MM Integration Interview Questions

Q2. – What are Credit Memo and subsequent debit in SAP Logistics invoice verification?

Ans. – The term credit memo refers to the credit memo from the vendor. Therefore, posting a credit memo always leads to a debit posting on the vendor account. Credit memos are used if the quantity invoiced is higher than the quantity received or if part of the quantity was returned.

Accounting entries are:

Vendor account (Debit)

To GR/IR account (Credit)

Subsequent debit in SAP Logistics Invoice Verification

If a transaction has already been invoiced and additional costs are invoiced later, then the subsequent debit is necessary.

In this case, you can debit the material with additional costs. i.e GR/IR account debit and vendor account credit. When entering the subsequent debit, if there is no sufficient stock coverage, only the portion of the available stock gets posted to the stock account and Rest is posted to the price difference account.

Read SAP FICO interview Questions – SAP FICO Blog

Q3. – What do you mean by invoice parking, invoice saving and invoice confirmation?

Ans. – These three are important parts of the Accounts Receivable and Accounts Payable Process in SAP.

Invoice parking in SAP FICO

The functionality wherein we can save the LIV (Logistic Invoice Verification) document as parked so that the document gets created SAP, but its status is parked.

The advantage is, wherein we just want to create this document in the database and we are not concerned about whether the entries are balanced or not, correct/incorrect. The accounting document is not created when the invoice is parked in mode. We can, later on, rectify the parked invoice.

Invoice saving in SAP FICO

This is also called invoice processing or invoice posting. The accounting document gets created when the invoice is posted in SAP.

Invoice confirmation

There is no terminology in SAP as Invoice confirmation.

(Please note, that an interviewer may ask this question to confuse you. You should be sure enough to tackle this by being confident of the correct terms and processes in SAP FICO).

Also read: SAP FI – SD Integration Interview Questions

Q4. – What are SAP FI Month-End Closing Activities?

Ans. – Following are the SAP FI Month-end closing activities:

1. Recurring documents
2. Create Recurring documents
3. Create Batch Input for posting Recurring Documents
4. Run Batch Input session
5. Posting Accruals or provisions entries at month-end
6. Managing  GR/IR Account-Run the GR/IR automatic clearing
   • (Click here for AR/AP GR/IR Interview Questions)
7. Foreign currency open items-Revalue Open Items in AR & AP
8. Maintain Exchange Rates
9. Run Balance sheets-Run Financial statement version

Also, Read – Closing Activities in SAP S4 HANA Finance

End Note

This quick guide is helpful to understand some key aspects of SAP Logistics Invoice verification. To get a deep insight, learn the process by learning SAP FICO on S/4HANA.

Also, Visit – SAP S4 HANA Finance Training