SAP Financial Accounting (SAP FI) Practice Exam

What are the three types of tolerance groups in SAP FI?

1. Employee, customer/vendor, GL

2. Employee, purchase, sales

3. Customer, vendor, supplier

4. GL, accounts payable, accounts receivable

The correct answer is: Employee, customer/vendor, GL

The three types of tolerance groups in SAP FI are indeed related to the management of financial transactions and are categorized into distinct types based on their functionality. They are designed to streamline and control processes associated with financial accounting, particularly in the areas of employee expenses, customer/vendor transactions, and general ledger accounts. The first type, pertaining to employees, is primarily concerned with controlling the amounts that employees can post for their expenses. This type of tolerance group helps organizations manage employee reimbursements and ensure they remain within predefined limits. The second type relates to customer/vendor transactions and focuses on controlling the limits and tolerances associated with billing and payments from customers and to vendors. This allows organizations to manage risks associated with credit control and vendor payments effectively. The third type is associated with financial postings in the general ledger (GL) accounts. This facilitates the establishment of different tolerances for various types of GL postings, ensuring that all entries adhere to the organization's policies and accounting standards. These categories establish clear boundaries and thresholds for payments, receipts, and expense claims, which helps maintain accuracy and compliance in financial reporting. Each of these tolerance groups can be defined with specific parameters to suit the organization's internal controls and policies.