1.What Is Gts In Sap?
Ans: The system for Global Trade Services (GTS) lets you automate your global trade transactions, manage large numbers of business partners and documents, and ensure that your company always complies with constantly changing international legal regulations.
2.What are the key aspects of SAP GTS?
Ans:The major components of SAP Global Trade Services are as follows:
- Compliance Management
- Customs Management
- Risk Management
- Electronic Compliance Reporting (ECR)
3.Compare Ecc Foreign Trade Vs Sap Global Trade Services (gts)?
Ans: Comparison of ECC Foreign Trade Vs SAP Global Trade Services (GTS):
SD Foreign Trade vs. SAP Global Trade Services (GTS)
Since the commercial enterprise systems are getting more complex and markets becoming extra global nowadays the necessity of managing overseas trade of a commercial enterprise is swiftly gaining significance. SAP Foreign Trade and/or SAP Global Trade Services (GTS) affords the tools you need to
compete efficaciously in nowadays’s market. This allows you to:
Manage import and export approaches, integrating them efficiently into the Supply Chain.
Automatically perceive licensing requirements for importing and exporting items based totally on cutting-edge rules.
Simplify reporting with automatic approaches for growing, printing and submitting declarations to the customs government.
Determine which of your merchandise qualify for Preference managing.
Provide an lively interface for sending information via the world over to be had EDI systems and different electronic media.
Update or trade statistics in all applicable foreign alternate files at any time prior to the very last goods difficulty.
Foreign Trade in ECC and SAP Global Trade Services (GTS) components are tightly included with Materials Management (MM) for managing Imports and Sales and Distribution (SD) for handling Exports. In the location of documentary payments it’s also included carefully with the Financial Accounting application.
4.What Are The Advantages Of Using Sap Gts?
Ans:The primary advantages of the use of SAP GTS are
1.Saving the time via automated approaches
3.Less human paintings worried
4.Automatic checking the compliance violation and banned dealers
5.Can keep the organisation emblem and accept as true with by means of fending off the fines and consequences
6.Fast exchange processing and consumer delight
7.SAP SD Tutorial SAP HR Interview Questions
5.What Is Relation Between R/three And Sap Gts ?
Ans: SAP R/3 is the former call of the company useful resource making plans software program produced by means of SAP AG.
It is an enterprise-huge facts gadget designed to coordinate all of the assets, statistics, and activities wanted to finish enterprise procedures along with order achievement or billing.
SAP R/3 became organized into wonderful functional modules, protecting the everyday features in region in an employer.
The most broadly used modules have been Financial s and Controlling (FICO), Human Resources (HR), Materials Management (MM), Sales & Distribution (SD), and Production Planning (PP).
Each module treated precise commercial enterprise responsibilities on its very own, however changed into connected to the others where relevant.
For example, an invoice from the billing transaction of Sales & Distribution might bypass thru to accounting, where it’ll appear in bills receivable and value of products offered.
SAP normally centered on high-quality exercise methodologies for riding its software program approaches, but greater currently increased into vertical markets.
In these conditions, SAP produced specialized modules (known as IS or Industry Specific) geared in the direction of a selected marketplace segment, consisting of utilities or retail.
6.What Are The Functionalities Involved In Sap Gts?
Ans: The functionalities worried in SAP GTS are
- Compliance Management: For test global exchange compliance problems
- Customs Management: Deals with customs-relevant transactions
- Risk Management: To decrease the risks involved with monetary transactions.
- Electronic Compliance Reporting: For submitting the reports for intra-European change
- System Administration: Deals with settings and tracking of the GTS feeder system.
7. What Are The Major Components Of Sap Gts?
Ans:The GTS consist 4 principal components:
SAP Compliance Management : With SAP Compliance Management you can reveal all transactions of import and export of goods, and so follow the legacy laws the complete procedure chain without any gaps. A relevant secret is the observance of boycott lists, embargo checks, and import and export controls, that may all fully included into an already existing structures.
SAP Customs Management : Customs related tactics are handled by the SAP Customs Management, what is licensed through the Customs. Key factors are the product type, customs valuation, the print out of foreign alternate documents and no longer least the IT-based customs clearance, using a electronic verbal exchange with the customs. The digital ATLAS machine (automatic tarif and nearby customs gadget), as well the european transit system NCTS (new computerised transit machine) are supported via SAP GTS. This is for all exporting organizations even extra essential, because using ATLAS is obligatory considering 01.07.2009 in Germany!
But even extra automatic customs clearance systems in Europe, USA and Australia are supported by using SAP GTS and has been licensed already.
SAP Risk Management : With SAP Risk Management the finacial dangers for the organisation can be minimized. The use and dealing with of preferences (which includes choice calculation), export refunds, letter of credit for import and export business are supported through SAP GTS.
SAP Electronic Compliance Reporting : With SAP Electronic Compliance Reporting the GTS helps the statistical reports to the authorities, which have to be introduced for an inner ecu trade. Depending for the united states’s authorithy, the facts are provided according to their certain information formats
8. What Are The Benefits Of Sap Gts?
Ans:Benefits of SAP GTS:
- Ensure vigilant compliance with trade policies
- Mitigate risks of big fines and consequences
- Avoid high priced cargo delays at borders and customs
- Quick implementation
- Lower IT protection prices
- Faster Communication with customs
- Lot of return of funding
9.Explain Compliance Management?
Ans: Compliance Management contains functions relating to import and export control regulations. This feature allows you to monitor procedures that are subject to licensing requirements and to comply with international legal regulations which prevent and/or restrict trade with individuals, groups and individual countries.
Three main areas of Compliance Management are:
- Sanctioned party list screening
- Legal control – export (including embargo checking and license management)
- Legal control – import (including embargo checking and license management)
10. Explain About The Risk Management Function In Sap Gts?
Ans: Risk Management is used for Letter of Credit processing, preference determination and the management of Long Term Vendor Declarations. Allowing you to minimize the financial risk associated with global trade activities.
The following services are available:
- Preference processing
- Letter of credit processing
11. What Are The Things Can Be Achieved By Using Sap Gts?
Ans:These are some of the things that can be achieved with the help of an automated GTS platform:
- Reduced risks of trade penalties and fines.
- Cost control during export procedures.
- Boost in productivity and streamlining of all trade processes for improved international operations.
- Elimination of all the manual tasks with the help of automated tools. Correspondingly, the time associated with these manual tasks is also eliminated.
- Seamless and reliable integration through all cross border supply chains.
- Reduced delays with regards to inbound and outbound custom clearance.
- Better customer satisfaction and protection of the company’s brand name.
- Reliable gauging of the credibility of global clients.
- The GTS platform provides adequate tools for Compliance Management, Risk Management and Customs Management. All the tasks and procedures that are a part of these modules are taken care of efficiently.
12.What Are The Reports Available To Evaluate And Analyze Data For Any Of The Services In Sap Gtc?
Ans:Using the following reports that are available, you can evaluate and analyze data for any of the services you use in SAP GTS:
- Imports by product
- Imports by country
- Import analysis
- Imports by office of entry or destination
- Comparison of imports between transit and customs processing document items
- Exports by product
- Exports by country
- Export analysis
- Export by customs office
- Comparison of exports between transit and customs document items
- Savings from bonded warehouse
13.What is the difference between Tally software and SAP software?
Ans: Tally is a basic user-friendly accounting software application. Whereas SAP is a full-fledged full ERP software. The advantage of ERP software in any large firm is it gives access to as many employees as possible which is limited to their function.
For Example, the PO is raised in the production module, whereas the Invoice is raised in the FICO module. For an Invoice to be processed in SAP, there needs to be a 3-way watch, as soon as the 3-way watch is done, Invoice gets booked and while doing a payment run, it gets picked in the payment run and the vendor gets paid.
14.What Is The Difference Between (a/c Payable / Receivable ) And ( Bills Payable / Receivable )?
Ans: Accounts Payable – Amounts payable to the Suppliers/Vendors/Creditors. The accounting institution also can be referred to as as Sundry Creditors. This is Current Liability.
Accounts Receivable – Amounts receivable from the Customers/Debtors. The accounting institution also can be known as as Sundry Debtors. This is Current Asset.
Bills Payable – Bills of Exchange drawn with the aid of Creditors/Suppliers on the agency and is a Current Liability.
Bills Receivable – Bills of Exchange drawn via a company on its Customers/Debtors and is a Current Asset.
15. Explain About The Electronic Compliance Reporting Function Is Sap Gts?
Ans: Electronic Compliance Reporting : ECR allows the regular trouble of Intrastat declarations to the authorities for Intra-European exchange between EU member states. The relevant facts is gathered from the logistics methods, after which sent to your country wide records government periodically.