FI-CO Integration – Manual or automatic creation of cost elements

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 … Read More » "FI-CO Integration – Manual or automatic creation of cost elements"

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, … Read More » "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 … Read More » "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 … Read More » "Number Range for SAP-CO Documents"

Forms Other than ITR available for income tax e-filling

Followings are the list of 45 forms other than ITR forms available for filling at income tax website. These forms includes form for tax audit, audit report, MAT Computation report etc. List of Forms (Other than ITRs) available for e-Filing  Sr No Form Number Form Description Mode 1 FORM NO 3CA Audit report under section … Read More » "Forms Other than ITR available for income tax e-filling"

What are the core elements of a resume – How to draft your resume

Resume is an essential tool through which you can market your skills to your interviewer. To build an effective resume, you have to keep it short and sweet. If you are a fresher and looking for a entry level jobs then your resume should not be more than 2 pages long. Below we have discussed … Read More » "What are the core elements of a resume – How to draft your resume"

Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies

Following tax rates are applicable to association of persons or a body of individual, firm and companies for the assessment year 2013-14 and 2014-15. Its required that every such AOP, BOI, Firm and companies pay their income tax liabilities based on the rates that are applicable to the assessment year relevant to the previous year. … Read More » "Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies"

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 … Read More » "Reverse of Depreciation posting in SAP FICO"

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 mentioned … Read More » "General ledger Posting – Recurring and Provision Entries in SAP"