When you create chart of accounts, there is an option of selecting cost element creation. If you select the option of manual creation the cost elements are created manually. If the other option get selected then related cost elements are automatically get created at the moment you save the general ledger master data. With this setting of cost elements and General ledger … [Read more...] about FI-CO Integration – Manual or automatic creation of cost elements
SAP FICO Module
FI SD Integration – Revenue Account Determination
Like FI-MM Integration we also integrate SD module with FI for getting revenue related financial transaction to financial module. We call it as a FI SD integration in SAP. Through FI SD integration in sap, GL A/cs are allocated for revenue account determination. It’s specified depending on the terms like Condition Type, Chart of Accounts, sales organization, Account … [Read more...] about FI SD Integration – Revenue Account Determination
FI MM Integration in SAP
FI-MM integration in SAP is the most important integration that every financial consultant must aware of . In Material Management, accounting documents are created for the movement type which in turn needs to be reflected in financial accounting module for recording into the companies financial statement. To have these documents in real time to FI we need FI-MM integration in … [Read more...] about FI MM Integration in SAP
Number Range for SAP-CO Documents
For every posting in controlling module, SAP generates document with a number. These document numbers are unique to each controlling area, since each number is assigned only once to one controlling area. In Controlling, there are no legal requirements for a continuous assignment of document numbers. Every transaction that you carry out on the controlling area level has to be … [Read more...] about Number Range for SAP-CO Documents
Reverse of Depreciation posting in SAP FICO
Reversal Depreciation posting run in SAP is very easy. It occurs when there are changes to the depreciation parameters. Suppose after a depreciation posting you found out that there is a change in the useful lives of your assets or changes in the depreciation keys assigned to your assets. Transactions such as asset retirements and transfers also affect the calculation of … [Read more...] about Reverse of Depreciation posting in SAP FICO
What is SAP Business Suite
Last time i have received a mail asking a question on What is SAP Business Suite. We think that many of our readers will be interested to know what is SAP business suite. In this article we have tried to answer that question. Before we start let us have a small introduction about the company. This company was founded in the year 1972 by five former IBM Engineer in Mannheim, … [Read more...] about What is SAP Business Suite
General ledger Posting – Recurring and Provision Entries in SAP
Normal general ledger transactions are entered into SAP by using transactions code FB50. Transactions of recurring nature are posted using transactions code F.14. Entries of accrual and deferral will be posted through transaction code FBS1 and these entries get reversed by transaction code F.81 in general ledger accounting. All these recurring and provision transactions … [Read more...] about General ledger Posting – Recurring and Provision Entries in SAP
GR IR Clearing Account ’s Use in SAP FI Module
GR IR Clearing Account in SAP is an intermediary clearing account for goods and invoices in transit. It represents Goods Receipt and Invoice Receipt Account. It’s a balance sheet account for which balance is not zero at the end of the period. This may happen because of following reasons; Goods received but not yet invoicedInvoices of goods which have not yet been … [Read more...] about GR IR Clearing Account ’s Use in SAP FI Module
General Ledger Master Data Configuration in SAP FICO
General Ledger master in SAP control the posting of a accounting transaction to General Ledger accounts and then processing it to Profit and loss account and balance sheet. Before you can make postings to a General Ledger account, you have to create these master record in system. General Ledger Master Data Structure in SAP FI General Ledger master records are divided … [Read more...] about General Ledger Master Data Configuration in SAP FICO
Field Status Group in SAP FICO
Field status group in SAP is used to manage fields of the required object. These groups in SAP are used in a general ledger master and defined specifically to manage fields that are required to be used while creating a transaction posting in General Ledger. Field Status Groups in SAP are created under one variant which then assigned to company code in sap financial module. … [Read more...] about Field Status Group in SAP FICO