SAP Financial Accounting (SAP FI) Practice Exam

When creating vendor masters, what determines necessary fields for company code records?

1. Vendor profitability report

2. Mandatory legal requirements

3. Field status of the company code

4. Transaction history

The correct answer is: Field status of the company code

The correct choice is based on the fact that the field status of the company code directly governs which fields must be completed when setting up vendor master records. Each company code in SAP can have its own configuration that stipulates which data fields are mandatory, optional, or suppressed based on the requirements of the company and its accounting practices. This is crucial for compliance and ensures that all necessary financial data is captured during the vendor master setup. For instance, certain fields related to payment terms, tax information, or reconciliation accounts may be marked as mandatory, meaning they must be filled out before the vendor record can be saved. This structured approach helps maintain data integrity and consistency within the financial system, which is essential for accurate reporting and financial management. Other options do not directly influence the required fields for vendor master records. For example, a vendor profitability report relates to performance analysis rather than the setup of master data. Mandatory legal requirements may inform overall compliance but do not dictate specific fields within the SAP system. Transaction history pertains to past activities and does not impact the creation of new vendor records.