Account groups are maintained for a chart of account (COA) with transaction code OBD4. When you create general ledger A/c by using transaction code FS00 for a company code, you need to specifically select the group from the drop down available in the “account group” field of “types/description” tab. By default sap will display all the account groups that are created under a … [Read more...] about Account group field in GL A/c master creation – SAP FICO
SAP FICO Module
What is cross company code controlling in sap
Controlling area is the starting point of your SAP-CO module configuration. While defining controlling area we need to assign company codes to it. After such assignment, financial transactions will flow from company codes (CC) to controlling area (CA). There can be two types of assignment between a CC and CA; One CC to One CA More than one CC to one CA Like mentioned … [Read more...] about What is cross company code controlling in sap
Credit management and credit control area in sap
Credit facility of an organization is managed by credit control area (CCA). SAP delivers different options to manage credit facility for a company. Credit facility can be managed at a group level or company code (CC) level or can be a combination of both. Based on the requirements it can be divided into followings; Centralized Decentralized Mixed Management If you … [Read more...] about Credit management and credit control area in sap
Controlling area and Company code relationship in SAP
Company code (CC) is one of the organizational units in sap which is linked to all other modules for transfer of financial documents to SAP FI module. In the case of CO module, controlling area is the highest organizational unit to which CCs are assigned and due to this assignment financial transaction from SAP FI module gets transferred to SAP CO module. Company codes are … [Read more...] about Controlling area and Company code relationship in SAP
Country specific chart of accounts in sap
Chart of account (COA) is a list of general ledger Accounts which are used by a company code in sap. Such COA can be used by another company code. It’s not compulsory that only one COA should be used for one company code. COA is created separately at client level and assigned to a company code. For this reason, COA can be assigned to more than one company code. Country … [Read more...] about Country specific chart of accounts in sap
Company and company code – Relationship in sap fico
Sap has two organizational units in financial accounting module which is always confusing. Many FICO consultants do not know why we have these two units in SAP FI i.e. company and company code (CC). CC represents an independent legal accounting entity which is created in sap to generate balance sheet and profit or loss account as required by law. Many companies are having … [Read more...] about Company and company code – Relationship in sap fico
SAP FICO Interview Questions Part 21
What is vendor master segment? While creating vendor master in sap we have three segments which need to be configured as per the business requirements. In general data segment we enter all the common set of data that are relevant for all the company codes. In company code segment we enter only those data that are relevant to the company code in which this vendor master will … [Read more...] about SAP FICO Interview Questions Part 21
SAP FICO Interview Questions Part 20
What is Inter company transaction in sap? A group can have more than one legal entity and can make transactions between themselves. Such transaction can be making payments on behalf of another entity or incurring expenses or selling and buying products from each other. We can configure such kind of situation in transaction code OBYA. When end user posted an … [Read more...] about SAP FICO Interview Questions Part 20
SAP FICO Interview Questions Part 19
Can we reverse depreciation posting in sap? Yes, it can be reversed in sap. We can reverse a depreciation posting if any mistake or change in depreciation parameters occur. For example if in depreciation parameter you want to change the life span of the asset then such change will affect the depreciation amount posted in sap. For this we need to perform recalculation … [Read more...] about SAP FICO Interview Questions Part 19
leading ledger and Non leading ledger in sap
Ledgers are used in general accounting to record financial transactions by account. Transactions are posted to these ledgers through journal entry and financial statements of companies are prepared based on it. SAP has two types of ledgers; Leading Non Leading Leading ledger It’s created based on the accounting principles of a company’s consolidated financial … [Read more...] about leading ledger and Non leading ledger in sap