C_TS4FI Practice Test 9 — 10 Questions

Question 1

A financial accountant in SAP S/4HANA needs to post a customer payment that partially clears an invoice. The company wants the residual item to remain open with the original payment terms so that the remaining balance still appears in the dunning run. Which standard SAP S/4HANA function should the accountant use?

Choose an answer to begin — your selection is scored in the full session.

Accepted Answer

Use the Residual Item processing mode for partial clearing, which creates a new open item carrying the original terms.. Residual item processing is the standard partial clearing method for open item managed accounts. The payment is applied to the invoice, the paid portion is cleared, and a new open item for the difference is generated with the original payment terms, so dunning, payment run, and aging reports continue to treat the remaining balance consistently.

Answer

Post the incoming payment with the Partial payment account type and leave the residual item with the original terms.

Answer

Reverse the original invoice and repost it with a reduced amount matching the payment received.

Answer

Post a credit memo against the invoice and then create a new debit memo for the unpaid balance with fresh terms.

Question 2

A financial accountant is posting a vendor invoice in SAP S/4HANA and receives an error: 'Account 123456 is a reconciliation account and cannot be posted to directly.' The accountant needs to post the invoice to the correct reconciliation account. What is the most likely cause of this error?

Accepted Answer

The account is a reconciliation account, which can only be posted indirectly through a subledger.. The error occurs because the account is configured as a reconciliation account in the vendor master record. Reconciliation accounts are automatically updated when postings are made to the subledger, and direct postings are prohibited to ensure that the general ledger remains reconciled with the subledger. To correct the issue, the accountant should post the invoice to a vendor account, which will then update the reconciliation account indirectly.

Answer

The account is a secondary cost element, which cannot be used in Financial Accounting postings.

Answer

The account is locked for posting due to a period-end closing activity.

Answer

The reconciliation account is marked as a 'line item display' account, which prevents direct posting.

Question 3

A financial accountant at a company with multiple company codes wants to automate the posting of recurring accrual documents, such as monthly rent, in SAP S/4HANA. The accountant needs the system to generate the accrual postings automatically on the last day of each month and reverse them on the first day of the next month. Which SAP S/4HANA Financial Accounting tool should the accountant use?

Accepted Answer

Accrual Engine with accrual objects and accrual postings. The Accrual Engine provides automated, scheduled accrual and reversal postings based on accrual objects, eliminating manual effort and ensuring accurate period-end accruals. Recurring entries, sample documents, and batch input sessions lack built-in reversal automation and are not designed for this purpose. Thus, the Accrual Engine is the correct tool for automating monthly accrual postings and reversals in SAP S/4HANA Financial Accounting.

Answer

Recurring entry document with a recurring run schedule

Answer

Sample document for recurring accruals

Answer

Batch input session for monthly accruals

Question 4

A financial accountant is analyzing a financial statement using the SAP S/4HANA Universal Journal. The accountant notices that the balance sheet and profit and loss statement show different amounts for the same G/L account. What is the most likely cause for this discrepancy?

Accepted Answer

The financial statement version used for the balance sheet includes the account, but the version for the P&L excludes it.. The discrepancy arises because financial statement versions (FSVs) control which accounts appear in which reports. If the balance sheet FSV includes the account and the P&L FSV does not, or they assign it to different nodes, the reported figures will differ. Ensuring consistent FSV configuration is essential for accurate financial reporting.

Answer

The account is a reconciliation account, so it only appears in the balance sheet.

Answer

The G/L account is configured with a different fiscal year variant than the company code.

Answer

The G/L account is a balance sheet account, but it was also posted with a profit and loss account type in the master record.

Question 5

A financial accountant is posting a customer invoice in SAP S/4HANA and wants to ensure that the payment terms are automatically determined from the customer master record. However, during posting, the payment terms field is not defaulted. What could be the reason?

Accepted Answer

The payment terms are not maintained in the customer master record's company code data.. Payment terms for customers are stored in the company code segment of the customer master record. If they are not maintained there, they will not default during FI invoice posting. The accountant should verify and maintain the payment terms in the company code data of the customer master record to ensure automatic defaulting.

Answer

The payment terms field is hidden by the field status group of the reconciliation account.

Answer

The payment terms are only defaulted if the invoice is posted via the Sales and Distribution (SD) module, not directly in Financial Accounting.

Answer

The payment terms are maintained in the customer master record's general data, which takes precedence over company code data.

Question 6

A financial accountant is creating a new G/L account in the chart of accounts for a company code. The account must be used for posting transactions. Which configuration step is mandatory to allow postings to this account?

Accepted Answer

Create the account in the chart of accounts and then create a company code segment.. For a G/L account to be postable in a company code, it must first exist in the chart of accounts and then have a company code segment created. The chart of accounts segment defines the account's basic properties, while the company code segment controls how the account behaves in that specific company code, including currency, tax code, and posting permissions. Only when both segments exist can the account be used in journal entries.

Answer

Define a reconciliation account in the account master record.

Answer

Create the account in the chart of accounts only.

Answer

Assign the account to a financial statement version.

Question 7

A financial accountant is creating a new G/L account in SAP S/4HANA. The account will be used for posting expenses in all company codes. The accountant wants to ensure that the account is available for posting immediately after creation. Which configuration step must be performed?

Accepted Answer

Create the account in the chart of accounts and then extend it to each company code.. Creating a G/L account in SAP S/4HANA requires first defining it in the chart of accounts and then extending it to each relevant company code. This two-tier structure allows centralized master data management while enabling company code-specific settings. Only after the company code extension can the account be used for postings in that company code. Therefore, the correct step is to create and then extend the account.

Answer

Create the account directly in each company code without a chart of accounts entry.

Answer

Create the account in the chart of accounts and assign it to a reconciliation account.

Answer

Create the account in the chart of accounts and set the 'Post Automatically Only' indicator.

Question 8

A financial accountant is creating a G/L account master record in SAP S/4HANA Financial Accounting. The account will be used for posting expenses and requires that a cost center be entered for every posting. Which configuration should be set to enforce this requirement?

Accepted Answer

Set the 'Cost center' field to 'Required' in the field status group of the G/L account. The field status group assigned to a G/L account determines which fields are required, optional, or suppressed during posting. To enforce cost center entry for an expense account, the accountant sets the 'Cost center' field to 'Required' in the field status group. This ensures that no posting can be saved without a cost center, meeting the business requirement.

Answer

Assign a default cost center to the G/L account master record

Answer

Activate the 'Cost center' check box in the company code global parameters

Answer

Define a validation rule in Financial Accounting that requires a cost center for the account

Question 9

A financial accountant is configuring a new document type for customer invoices in SAP S/4HANA Financial Accounting. The document type should allow only vendor invoices and prevent the posting of customer invoices. Which field in the document type configuration controls the account types that can be posted?

Accepted Answer

Allowed account types. The 'Allowed account types' field in the document type configuration controls which account types can be posted using that document type. By restricting it to vendor only, the system prevents customer invoices from using this document type. This ensures that the document type is used correctly and maintains data integrity.

Answer

Account type

Answer

Posting key

Answer

Field status group

Question 10

A user is creating a G/L account master record in SAP S/4HANA. They want to ensure that the account can be used for postings in multiple company codes while maintaining different control parameters per company code. Which of the following is a mandatory step during the creation of a G/L account?

Accepted Answer

Assign the account to a chart of accounts and extend it to each required company code.. Creating a G/L account in SAP S/4HANA requires first defining it in a chart of accounts, then extending it to each company code where it will be used. This ensures that company-code-specific control parameters, such as currency and tax settings, can be maintained. Without extending the account to a company code, postings cannot be made in that company code, so this step is mandatory for multi-company-code usage.

Answer

Set the account as a cost element in Controlling.

Answer

Enter a default tax code for the account.

Answer

Define the account as a reconciliation account for asset accounting.