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

What items are NOT cleared by the automatic clearing program? (Choose three)

1. Noted items

2. Statistical postings

3. Items with withholding tax

4. Items with value added tax

The correct answer is: Noted items

The automatic clearing program in SAP does not clear certain types of items based on specific criteria, and one of these categories is noted items. Noted items are entries that are used for information purposes and do not represent actual financial transactions that need to be settled. Since their primary function is for reference or pending information processes rather than actual monetary flows, these items are excluded from automatic clearing. When considering the clearing process, it is also important to acknowledge that statistical postings (typically used to record non-monetary entries that support management reporting) and items with withholding tax are also not cleared by the automatic program due to regulatory and accounting rules that dictate their treatment. Additionally, while items with value-added tax (VAT) are important for tax reporting and reconciliation, they may not automatically clear due to how they are handled for financial reporting purposes. Understanding these exclusions is crucial for effectively managing financial transactions within SAP FI and ensuring compliance with accounting practices.