To post financial transaction into SAP FICO, we define fiscal year and to represent months within fiscal year it is again divided to posting periods. Fiscal year is not defined for a particular company code. Fiscal year is defined as a variant and then assigned to the company code. One fiscal year variant can be assigned to more than one company code. Through this assignment it … [Read more...] about Special posting period – Use of these periods in SAP FICO
SAP FICO Module
Country chart of account as an alternative to group COA
If company codes within your group do not require a special chart of accounts for external reporting then as an alternative to your legal reporting, you can use country chart of accounts. Country COAs are created like an operating chart of account (COA) and assigned to the company code in addition to the operating COA. … [Read more...] about Country chart of account as an alternative to group COA
Account groups for customer and vendor master record
Account groups for customer and vendor can be either created or one can use sap default account group. While creating a vendor or customer master, we enter these account groups on the initial screen. After creation of a vendor and customer master you can not change such a/c groups i.e. you can not reassign any other account group to your vendor or customer master. A/c groups … [Read more...] about Account groups for customer and vendor master record
Difference between normal and one time customer or vendor Master in SAP
Normal and one time customer or vendor account is a concept of sap. In business there can be customers or vendors with whom you rarely do business. It can be defined in sap as a one time customer or vendor account. Other than this, what ever customer and vendor master you create in sap will be called as a normal account. Unlike normal account one time customer and vendor … [Read more...] about Difference between normal and one time customer or vendor Master in SAP
Group chart of account’s requirement in internal reporting
In case of cross company code reporting, financial statement contain items of several company codes. Reporting to the management could be a problem if all such company codes are not using same operating COA. If all of your company codes are assigned to same operating chart of account then internal reporting can be done through controlling area. However controlling area has a … [Read more...] about Group chart of account’s requirement in internal reporting
Segments of customer and vendor master in SAP
Like normal GL master, customer and vendor master also have segments. Both these masters have two segments i.e. general data and company code specific data. Information under general data can be accessed throughout the whole organization whereas company code specific data will be specific to a company code. Company code that wants to do business with a customer or vendor has … [Read more...] about Segments of customer and vendor master in SAP
Line item and Balance display in GL Master
To display accounting data we use two types of reporting i.e. balance display and line item display. It's possible for those accounts which are selected as line item display while creating gl master record. Balance display in sap will provide you an overview of the financial transaction of a gl account. From this you can only drill down to those line items which are taken to … [Read more...] about Line item and Balance display in GL Master
How to define GL account as a balance sheet or profit and Loss A/c in SAP
The objective of having a balance sheet or Profit and Loss (PL) account is for preparing year end financial statements that are required for the company’s external reporting i.e. reporting to the shareholders, banks and legal reporting. As per the legal requirements various gl A/cs are required to be defined under different heads of a profit and loss account or balance sheet … [Read more...] about How to define GL account as a balance sheet or profit and Loss A/c in SAP
Company code segment of a general ledger master – SAP FICO
To use a gl account for your company code (CC), you need to create company code segment for it. Chart of account segment and CC segment together will form a gl account. CC segment contains all the information that is required for a gl account of a CC. Such information is required to control the entry of accounting documents in SAP FI. Also Read: Chart of Account seg of gl … [Read more...] about Company code segment of a general ledger master – SAP FICO
Chart of account segment of a GL A/c master – SAP FICO
General Ledger masters are created to record financial transactions related to a company code (CC). It has two segments known as company code segment and chart of account segment. Company code segment is specifically related to the CC for which you are creating it. COA segment will be by default allotted to all the company codes assigned to a COA through transaction code … [Read more...] about Chart of account segment of a GL A/c master – SAP FICO