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Questions and Answers
What is the procedure of verifying discrepancies in fast moving items called?
What is the procedure of verifying discrepancies in fast moving items called?
- Continuous stock assessment
- Inventory audit
- Stock counting
- Cycle counting (correct)
What is a credit memo?
What is a credit memo?
- A deduction on an account
- An additional charge
- A new invoice
- Reversal of invoice (correct)
What must be true for materials to undergo a Transfer posting?
What must be true for materials to undergo a Transfer posting?
- Both materials must be from the same manufacturer
- Both materials must have different valuation types
- Both materials must have the same unit of measure
- Both materials must be kept in the same basis for all conversation (correct)
Which type of invoice verification is indicated by not ticking 'Gr based IV'?
Which type of invoice verification is indicated by not ticking 'Gr based IV'?
What happens if the project stock is not valuated?
What happens if the project stock is not valuated?
For which stock type cannot a Goods receipt be posted?
For which stock type cannot a Goods receipt be posted?
What is the key benefit of using the Evaluated Receipt Settlement (ERS)?
What is the key benefit of using the Evaluated Receipt Settlement (ERS)?
What is the role of the blanket purchase orders in SAP?
What is the role of the blanket purchase orders in SAP?
What is the special stock indicator used for sales order stock?
What is the special stock indicator used for sales order stock?
How many physical inventory documents are created for counting material M1 across all stock types?
How many physical inventory documents are created for counting material M1 across all stock types?
What must be flagged in the vendor master for the ERS process?
What must be flagged in the vendor master for the ERS process?
What are the two types of invoicing plans mentioned?
What are the two types of invoicing plans mentioned?
Which view is batch management activated in?
Which view is batch management activated in?
What is not a planned good receipt among the given options?
What is not a planned good receipt among the given options?
What are the two methods of managing stock?
What are the two methods of managing stock?
What accounting entries are made after a good receipt?
What accounting entries are made after a good receipt?
What process follows the creation of a physical inventory document?
What process follows the creation of a physical inventory document?
What indicator is used to set materials with a zero stock value?
What indicator is used to set materials with a zero stock value?
Which of the following movement types is NOT associated with physical inventory?
Which of the following movement types is NOT associated with physical inventory?
Who is the owner of containers and pallets in a returnable transport packaging (RTP) scenario?
Who is the owner of containers and pallets in a returnable transport packaging (RTP) scenario?
In the context of physical inventory, which method allows for counting without any reference?
In the context of physical inventory, which method allows for counting without any reference?
What distinguishes the two-step transfer posting process?
What distinguishes the two-step transfer posting process?
In a third-party sales process, the sales order is forwarded to whom?
In a third-party sales process, the sales order is forwarded to whom?
What is the nature of project stock management when it is not valuated?
What is the nature of project stock management when it is not valuated?
Which stock type can you NOT scrap material from?
Which stock type can you NOT scrap material from?
What are the three important steps involved in physical inventory?
What are the three important steps involved in physical inventory?
What is one of the main benefits of automatic purchase order creation?
What is one of the main benefits of automatic purchase order creation?
What is the option through which a Goods Receipt (GR) can be settled without an invoice?
What is the option through which a Goods Receipt (GR) can be settled without an invoice?
Which of the following is NOT a common error during automatic purchase order creation?
Which of the following is NOT a common error during automatic purchase order creation?
Identify the two movement types used in physical inventory.
Identify the two movement types used in physical inventory.
In the given context, which master control the delivery time settings?
In the given context, which master control the delivery time settings?
Which of the following statements accurately describes what occurs during a one-step stock transfer?
Which of the following statements accurately describes what occurs during a one-step stock transfer?
Identify the correct movement type associated with goods receipt.
Identify the correct movement type associated with goods receipt.
Where are the Fixed Vendor, Purchase Info Record, and Contracts maintained?
Where are the Fixed Vendor, Purchase Info Record, and Contracts maintained?
What are the two types of invoicing plans available in SAP MM?
What are the two types of invoicing plans available in SAP MM?
What are the correct accounting entries for a goods receipt document?
What are the correct accounting entries for a goods receipt document?
Which of the following sources can be assigned to a Purchase Requisition?
Which of the following sources can be assigned to a Purchase Requisition?
In which industries is one-step transfer posting for material carried out?
In which industries is one-step transfer posting for material carried out?
What movement type is used for transfer posting from plant to plant?
What movement type is used for transfer posting from plant to plant?
Which two prerequisites must be met for transfer posting from material to material?
Which two prerequisites must be met for transfer posting from material to material?
What are the two types of automatic reservation?
What are the two types of automatic reservation?
Which accounting entries are associated with goods receipt documentation?
Which accounting entries are associated with goods receipt documentation?
What is defined as the reversal of goods receipt?
What is defined as the reversal of goods receipt?
What configuration checks must be performed to avoid the error 'Material not subjected to inventory management in plant 1000'?
What configuration checks must be performed to avoid the error 'Material not subjected to inventory management in plant 1000'?
In Material Type configuration, which parameter controls field selection?
In Material Type configuration, which parameter controls field selection?
Flashcards
Cycle Counting
Cycle Counting
A process of counting and verifying the quantity of fast-moving inventory items regularly, often on a rotational basis.
Special Stock
Special Stock
A special stock type that is used for materials that are not regularly used in production but are still need to be tracked in SAP. These materials could be for special projects, or for specific customer orders.
PO Based Invoice Verification
PO Based Invoice Verification
The verification of invoices based on the corresponding purchase order (PO) details. It ensures that the invoice matches the ordered items and quantities.
Invoice Posting Before Goods Receipt (GR)
Invoice Posting Before Goods Receipt (GR)
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Cost Center/Cost Collector
Cost Center/Cost Collector
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Credit Memo
Credit Memo
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Transfer Posting
Transfer Posting
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Stock Account (BSX) and GR/IR Clearing Account (WRX)
Stock Account (BSX) and GR/IR Clearing Account (WRX)
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What type of stock cannot be scrapped?
What type of stock cannot be scrapped?
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What movement type signifies goods entering a warehouse?
What movement type signifies goods entering a warehouse?
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What is a planned goods receipt using internal consumption?
What is a planned goods receipt using internal consumption?
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What information does an invoice contain?
What information does an invoice contain?
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Which STO involves generating accounting documents?
Which STO involves generating accounting documents?
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What are the essential steps of a physical inventory?
What are the essential steps of a physical inventory?
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What type of settlement allows a GR without an invoice?
What type of settlement allows a GR without an invoice?
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When do we use subsequent credit and debit?
When do we use subsequent credit and debit?
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What can be changed in a physical inventory document?
What can be changed in a physical inventory document?
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What happens after a PI document creation?
What happens after a PI document creation?
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What are the two methods for physical inventory counting?
What are the two methods for physical inventory counting?
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What is the zero stock indicator used for?
What is the zero stock indicator used for?
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What are the movement types in physical inventory?
What are the movement types in physical inventory?
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What is cycle counting?
What is cycle counting?
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What are some special stock types?
What are some special stock types?
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Who owns RTP containers and pallets?
Who owns RTP containers and pallets?
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Sales Order Stock Indicator
Sales Order Stock Indicator
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Project Stock Indicator
Project Stock Indicator
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Batch Management
Batch Management
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Invoice Verification
Invoice Verification
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Goods Receipt (ERS)
Goods Receipt (ERS)
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Stock by Value
Stock by Value
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Planned Good Receipt using Internal Consumption
Planned Good Receipt using Internal Consumption
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Goods Issue Posting
Goods Issue Posting
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Automatic PO Creation
Automatic PO Creation
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Purchase Info Record (PIR)
Purchase Info Record (PIR)
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Source List
Source List
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Source of Supply Assignment
Source of Supply Assignment
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One-Step Transfer Posting (Material to Material)
One-Step Transfer Posting (Material to Material)
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Split Valued Material Transfer Between Plants
Split Valued Material Transfer Between Plants
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Movement Type 301
Movement Type 301
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Automatic Reservation
Automatic Reservation
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Reservation for Orders/Networks/WBS Elements
Reservation for Orders/Networks/WBS Elements
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Stock Transfer Reservation
Stock Transfer Reservation
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Reservation via MRP
Reservation via MRP
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Study Notes
Cycle Counting
- Cycle counting is a procedure for verifying discrepancies in fast-moving items.
Special Stock
- Special stock is managed based on the given options. The given options aren't specified.
Invoice Verification
- PO-based invoice verification is indicated in the figure.
GR-Based IV
- If "GR based IV" isn't ticked, the system will compare Purchase Orders (POs) and invoice documents. An Invoice document can be posted before the Goods Receipt (GR) is posted.
Stock Valuation
- If project stock isn't valuated, it's managed by the cost center or cost collector.
Credit Memo
- The maximum quantity that can be credited using a credit memo is the quantity that has been invoiced.
- A credit memo is a reversal of an invoice.
Transfer Posting
- Two prerequisites for material-to-material transfer posting are:
- Both materials must be in the same basis for all conversations.
- A material master record must exist for the receiving material.
GL Account Updates
- Stock account-material (BSX) is debited.
- GR/IR clearing-material (WRX) is credited, when stock material is updated after Goods Receipt.
Good Receipt Creation
- Goods receipt can be created without reference using the "Others" option.
Stock Management Methods
- Stock can be managed by quantity or value.
Partial Payments
- Invoice planning involves paying the total value of a Purchase Order (PO) in partial increments over time.
Blanket Purchase Orders
- Blanket purchase orders have a validity period and material/service limits in SAP.
- They use item category B and document type FO.
Sales Order Stock
- Sales order stock is used during sales order creation and when there's a customer order.
Goods Issue Updates
- Updating happens after Goods Issue. These include updates to General Ledger (GL) accounts, consumption, reservations, and order updates.
Scrap Material
- Inventory is the stock type where material cannot be scrapped.
Scrap of Goods
- Relevant stock is reduced after scrapping goods.
- Scrap material cost is posted to the scrap account (from the stock account).
- The cost of scrapped material is assigned to the cost center.
Goods Issue
- A goods issue decreases the warehouse stock.
- Accounting documents are created if the goods movement is relevant for accounting. Stock is updated in real-time when posting a goods issue.
Inventory Management
- Inventory management involves monitoring goods movement into and out of the warehouse or store. The process tracks quantity and value.
Invoice Verification
- An invoice from the vendor is sent to finance for payment.
Subcontracting PO
- The flow of a subcontracting Purchase Order (PO) is Purchase order, Goods issue, Goods receipt.
Pipeline Material
- Vendor liability is settled periodically, similarly to consignment stock management and a consumption history is maintained.
Sales Order Stock Usage
- Sales order stock is used during sales order creation and when there is an order from the customer.
Stock Transfer Posting
- Two-step posting monitors stock in transit.
- One-step posting is the transfer of a material from one plant to another;
- Batch and stock numbers are used when posting a Goods Receipt (GR).
Automatic Reservations
- Automatic reservations are used for orders, networks, and WBS elements, as well as stock transfer reservations.
Transfer Posting from Material to Material
- Two prerequisites for transfer posting are:
- Existence of the material master record for the receiving material.
- Both materials are in the same unit of measurement.
Subcontracting Purchase Order Components
- Bill of Materials (BOM) is created for components for a subcontracting purchase order.
Vendor Consumption Adjustments
- Subsequent adjustments are made if the vendor consumes more or less material than planned.
Physical Inventory
- Physical inventory involves preparation steps, including counting and inventory checks.
Valuation Class
- Valuation classes represent groupings (categories) used to determine how materials are valued, which account determination process is required, and which account numbers (from the General Ledger) to use for an organization's accounts.
Material Type
- Material type attributes include number ranges, field selections, quantity, value basis, valuation group, and pricing control.
Automatic PO Creation Prerequisites
- Automatic PO creation requires a Net Price and Delivery Time.
Master Data Types
- Master Data types include material master records, vendor masters, purchase information records, and a source list.
Error Handling During Automatic PO Creation
- Posting periods, source data inclusion, delivery dates, and account assignments, are subject to verification during automatic Purchase Order (PO) creation. If data inconsistencies are identified then they need to be corrected before proceeding.
Assignment of Sources to Purchase Requests
- Sources include desired vendors, purchase orders, fixed vendors, Requests for Quotations (RFQs), and central contracts.
Purchasing Documents
- Documents (e.g. Purchase requests, Purchase Orders) can be associated to various data fields in SAP's planning functions.
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Description
Test your knowledge on SAP inventory management processes, including verification procedures, invoice handling, and stock management. This quiz covers various aspects of material management within the SAP system, aiming to enhance your understanding of essential concepts and practices.
