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

What information is updated on the invoice when a complete payment is posted? There are 2 correct answers.

1. Clearing date

2. Clearing bank

3. Clearing reason code

4. Clearing document number

The correct answer is: Clearing date

When a complete payment is posted against an invoice in SAP Financial Accounting, certain key information is recorded that helps in tracking the financial transactions and managing accounting records effectively. The clearing date is updated on the invoice because it indicates when the payment transaction was processed and the invoice was cleared. This date is crucial for understanding cash flow and accounting periods, as it helps businesses align their financial records with actual cash movements. Additionally, the clearing document number is also updated on the invoice. This document number serves as a unique identifier for the specific transaction in the system. It allows for precise tracking of the payment event, linking the payment to the invoice in the accounting records, which is essential for reconciliation processes and auditing. Both the clearing date and the clearing document number provide vital details in the context of managing accounts payable and accounts receivable, ensuring that transactions are accurately recorded and tracked within the financial system.