SAP Financial Accounting (SAP FI) Certified Application Associate Practice Exam

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After collecting data in the Intercompany Reconciliation tool, which is the first step of the reconciliation process?

Post the correction documents.
Store the data.
Present reconciled data.
Communicate differences.

The correct answer is: Store the data.

In the context of the Intercompany Reconciliation process, the first step involves the organization and retention of the collected data. The purpose of gathering this data is to have a clear and structured overview of the intercompany transactions that require reconciliation. By storing the data properly, it can serve as a reliable reference for identifying discrepancies and analyzing the information that will need to be investigated further. Once the data is securely stored, it allows for a more efficient process in subsequent steps, such as identifying differences and ultimately communicating those discrepancies. This foundational step sets the stage for the remaining activities within the reconciliation process, which include addressing any data inaccuracies and ensuring that all relevant parties have access to the necessary information for a comprehensive review.