SAP C_S4CFI_2408 Practice Test - Questions Answers, Page 2

List of questions
Question 11

What are the restrictions when posting general journal entries to special periods? Note: There are 2 correct answers to this question
You must specify a posting date in the last period of the fiscal year.
You must only post to balance sheet accounts.
You must use the document type YE (year end).
You must manually enter the specific special period you are posting to
When posting general journal entries to special periods in SAP S/4HANA Cloud Public Edition, there are specific restrictions to ensure the integrity of financial data, particularly for year-end closing processes. Firstly, any postings to special periods must have a posting date that falls within the last period of the fiscal year. This is to ensure that transactions are recorded in the correct fiscal year before being allocated to special periods, which are typically used for year-end closing adjustments.
Secondly, users must manually specify the special period for each posting. Special periods (usually 1 to 4) are used for year-end closing activities, such as audit adjustments, and are beyond the regular posting periods. Unlike regular periods, SAP doesn't automatically determine the special period based on the posting date; it requires explicit selection by the user to ensure that postings are correctly allocated for year-end adjustments and reporting.
References:
SAP S/4HANA Cloud Financial Accounting documentation on year-end closing procedures
Best practices for financial period-end closing in SAP S/4HANA Cloud
Question 12

What must you create when you build an integration scenario using the SAP Fiori Communication Management apps in SAP S/4HANA Cloud Public Edition? Note: There are 2 correct answers to this question
Communication arrangement
Communication system
Communication API
Communication interface
In SAP S/4HANA Cloud Public Edition, when building an integration scenario using the SAP Fiori Communication Management apps, it is essential to create both a 'Communication Arrangement' and a 'Communication System'. The Communication System represents the external system or the SAP system itself in the context of the integration. It is where you define the system's details, such as system ID and host information. The Communication Arrangement, on the other hand, specifies how the SAP S/4HANA system communicates with the defined Communication System, including the services to be used, authentication methods, and other specific settings required for the integration. These components are crucial for setting up secure and effective communication between SAP S/4HANA Cloud and other systems or applications.
References:
SAP S/4HANA Cloud documentation on Communication Management Setup
SAP Fiori apps reference library for Communication Management
Question 13

What is the role of the valuation method in the foreign currency valuation of accounts payable? Note: There are 3 answers to this question.
Define the document type for the valuation posting
Define the exchange rate type
Determine the G/L accounts for the valuation posting
Define the valuation procedure
Define the posting and reversal date for the valuation posting
In the context of foreign currency valuation for accounts payable in SAP S/4HANA Cloud Public Edition, the valuation method plays a critical role in several aspects. Firstly, it defines the exchange rate type to be used for the valuation, which determines how the exchange rates are sourced and applied during the valuation process. Secondly, it determines the G/L accounts that will be affected by the valuation postings, ensuring that currency gains or losses are recorded in the appropriate financial accounts. Lastly, the valuation method defines the valuation procedure, which outlines the specific rules and conditions under which the valuation is performed, such as whether historical rates are used, whether realized gains and losses are considered, and the method for valuing open items and balances.
References:
SAP Help Portal documentation on Foreign Currency Valuation
SAP S/4HANA Cloud user guides for Financial Accounting
Question 14

Which of the following are steps in an automated payment run process? Note: There are 3 correct answers to this question
Maintain Parameters
Upload Bank Statement
Schedule Payment Run
Schedule Proposal Run
Schedule Invoice Run
In an automated payment run process within SAP S/4HANA Cloud Public Edition, the key steps include 'Maintaining Parameters', 'Scheduling Proposal Run', and 'Scheduling Payment Run'. Maintaining Parameters involves setting up the criteria for the payment run, such as payment methods, company codes, and payment dates. The Proposal Run is then scheduled, during which the system identifies open items that meet the criteria set in the parameters and proposes them for payment. This step allows for a review and adjustment of the payment proposal before final execution. Finally, the Payment Run is scheduled, where the system processes the payments for the approved proposals, generating payment documents and updating the financial accounts accordingly.
References:
SAP S/4HANA Cloud documentation on Payment Processing
Best practices for managing payment runs in SAP S/4HANA Cloud
Question 15

When processing payments, what are possible functions of reason codes? Note: There are 3 correct answers to this question
Control of the type of payment notice sent to a customer
Generate a payment reminder
Control of the account where a residual item is posted
Create a sales order
Automatic posting of a residual item to a specified G/L account
Reason codes in the payment processing context of SAP S/4HANA Cloud Public Edition have several functions, particularly when handling exceptions or specific conditions in payment transactions. They can control the type of payment notice sent to a customer, ensuring that appropriate communication is made based on the payment scenario or issue identified. Reason codes can also dictate where a residual item is posted, which is critical in managing partial payments or overpayments, thereby maintaining accurate account balances. Additionally, they enable the automatic posting of residual items to specified G/L accounts, streamlining the accounting process by ensuring that such items are correctly classified without manual intervention.
References:
SAP S/4HANA Cloud Payment Processing documentation
Guidelines on managing payment exceptions and reason codes in SAP S/4HANA Cloud
Question 16

What element identifies the business transaction for asset postings?
Question 17

How can you migrate data to SAP S/4HANA Cloud Public Edition? Note: There are 2 correct answers to this questio
Question 18

How does an implementation consultant support customer expert during Fit-to-Standard workshops? Note: There are 2 correct answers to this question
Question 19

What do you use to collect the values that are entered into the configuration activities in SAP Central Business Configuration?
Question 20

Which of the following fields are maintained on the general data segment of the customer business partner? Note: There are 2 correct answers to this question
Question