SAP FICO interview questions in General Ledger Accounting

Here are some useful SAP FICO Interview questions related to General Ledger Accounting
(FI-GL)

Why are Reference Methods used?
Give an example of Document Change Rule.
How are Account Assignment Model, Recurring Entries and Sample Document different?
What is a Line Item? What is Line Item Display?
Why are Posting Keys used?
What is the difference between Parking and Holding documents?
How does Automatic Postings work
What is Manual and Automatic Clearing?
How do we Reverse document in SAP?
What is the different between True Reversal and Regular Reversal?
What is a Fast Entry?
What are the methods used to create GL Account Master Data?
What is the difference between Individual and Collective Processing of GL Accounts?
Can you change existing Balance sheet GL account to Profit and Loss account?
How Account Group helps in defining GL accounts?
What is a Number Range?
What are the options while configuring Screen Layout?
What is the use of Field status Group?
Why do we set “Balance in Local currency only” for a GL account?
How is Archiving different from Deletion?
What is a House Bank? How do we configure House banks?
When and how can we manually clear open items?
What are the steps involved to perform Period Closing in SAP?
What do we mean by Pre-Closing activity?
How do we perform a Financial Closing?
What is meant by Financial Statement Versions? What are the items in FSV?
Explain Annual Closing in SAP
How is this different from Managerial closing?
Explain the New FI-GL in ECC.