Asset Accounting in SAP is the most important sub ledger which records all financial transactions related to assets. You can run depreciation and also capitalize it to your books. Here we have listed all transaction codes that are relevant and required in customization of asset accounting module in SAP. Transaction Code for FI-AA Module in SAP Check Country-specific … [Read more...] about Transaction Codes and paths used in SAP FI Asset Accounting
SAP FICO Module
Transaction codes used to define Enterprise Structure in SAP FICO
Enterprise Structure in SAP is used to define the overall organizational structure. We have listed all the transaction codes that are required to define enterprise structure of an organisation. Transaction Code to Define enterprise structure in FI Module Define Company SPRO > Enterprise Structure > Definition > Define Company TCode : OX15 Define Company … [Read more...] about Transaction codes used to define Enterprise Structure in SAP FICO
What is the use of reconciliation account in SAP FI Module?
Reconciliation account in SAP is a general ledger account assigned to the business partner master record to record all transactions in the sub ledger. Posting to the sub ledgers are automatically get posted to the assigned reconciliation account by which the general ledger will always be up to date. It is a prerequisite for creation of vendor master. Every transaction in … [Read more...] about What is the use of reconciliation account in SAP FI Module?
Steps with Transaction Codes for General Ledger Accounting in SAP FICO
Each General ledger Account in SAP is set up according to the definition of chart of accounts. You have two views while creating a general ledger master data: 1) General Data 2) Company Code Data. The company code data set up in General Ledger Master is company code specific where as the general data is client specific. Each and every General Ledger Account created in SAP … [Read more...] about Steps with Transaction Codes for General Ledger Accounting in SAP FICO
How posting key is managed in SAP FICO
Posting Key in SAP is a two digit numeric key defined to control the entry of document line items in a FI Transaction. Posting Key in SAP also specifies whether the line item is a debit or a credit entry, account type that can be posted (Vendors, Customers and General Ledger etc.) and the screen layout of line items. For posting special General ledger transactions, special … [Read more...] about How posting key is managed in SAP FICO
Frequently Asked Questions in SAP FICO
Based on the data and our experience we are bringing you some of the frequently asked questions in sap fico that you will be asked in every interview. We have also added FI interview question series in our blog. Request your to read these frequently asked questions in sap fico and give your feedback and suggestions. If you want your payment term to be defaulted in FI … [Read more...] about Frequently Asked Questions in SAP FICO
What is gap analysis in SAP?
SAP is a customized solution providing certain predefined processes in a predefined way. When its implemented, the consultant do a study of the business processes then try to find whether that process in the way required is present in SAP or not. If its available in SAP then the consultant will go ahead and do the customization but if its not available then there is a GAP … [Read more...] about What is gap analysis in SAP?
Primary and secondary cost element in SAP FICO – Difference between both
Primary Cost Elements in SAP are created to match the General ledger accounts of profit and loss statements in FI. These primary cost elements carries expenses from FI module to Controlling module. Each general ledger account in a profit and loss statement are created as a primary cost element in CO Module to have a proper reconciliation between FI and CO. There are two … [Read more...] about Primary and secondary cost element in SAP FICO – Difference between both
Defining Fiscal Year Variant in SAP FICO Module
Fiscal Year variant in SAP or known as FY Variant, is used at the client level and assigned back to the company code. It’s divided into posting periods and each posting period is defined by a start and finish date. In addition to the posting period, you can also define special periods for period end closing. SAP has provided some standard Fiscal Year Variant for use. If you … [Read more...] about Defining Fiscal Year Variant in SAP FICO Module
Opening and Closing of Posting Periods in SAP FI Module
Fiscal year in SAP is divided into posting periods. Before a document entry, you must define the posting periods in SAP so that it can identify to which month of the fiscal year a document has to be posted. System will determine the posting period in SAP based on transaction date that you enter in the document entry screen. In addition to the regular posting periods we also … [Read more...] about Opening and Closing of Posting Periods in SAP FI Module