When going for an SAP implementation project, we need to first understand the complete requirements of the client, i.e., the company. For example, let’s say we are a team of SAP consultants and we are planning to implement SAP for Doctor Reddy Labs Group, a multinational company, with its [...]
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After the creation of vendor master records, next, we’ll focus on Customer Master Codes, Internal Order Masters, and finally, Asset Master Codes and their associated sub-numbers. Creation of Customer Master Codes (FD01) Customer master records are fundamental for managing sales processes, [...]
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In our ongoing exploration of master data in SAP FICO, we’ve covered the creation of primary and secondary cost elements. Today, we’re moving to another critical piece of master data: Vendor Master Codes. Vendor master records are essential for managing business relationships with [...]
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In our previous article, we covered the creation and extension of General Ledger (GL) account codes. In this article, we’ll walk through one of the most important master data components in SAP Controlling (CO): Primary and Secondary Cost Elements. We’ll also cover how to create cost and [...]
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In this session of our SAP FICO tutorials, we will go into the “Masters” segment of the SAP FICO module. In this “Masters” session, we will learn how to create and manage various master data in SAP FICO. We’ll focus on: General Ledger (GL) Account Codes: Creation and Extension [...]
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Continuing our journey through the SAP FICO module, we’ll now go into the Cost Center and Cost Center Group. Following that, we’ll explore the fundamental concepts of Posting Keys and Document Types in Financial Accounting. What is a Cost Center in SAP? A Cost Center is an [...]
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What Is a Profit Center in SAP? A profit center is an organizational unit in accounting that reflects a management-oriented structure of the organization for internal control. We can analyze operating results for profit centers using either the cost-of-sales approach or the period accounting [...]
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Chart of Accounts (CoA) The Chart of Accounts (CoA) is the foundation for the General Ledger (GL) in SAP. It is a comprehensive list of all the accounts utilized in the general ledger for a given company. It is a master list that contains accounts such as assets, liabilities, equities, [...]
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In our previous article, we explored Financial Accounting (FI), which focuses on external reporting. In this article, we’ll consider the “CO” in FICO: Managerial Accounting, also known as Controlling. What is Managerial Accounting (Controlling)? Managerial accounting is designed to [...]
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What is SAP FICO SAP FICO stands for SAP Financial Accounting (FI) and SAP Controlling (CO). Together, they form a robust financial management module within the SAP ERP system. The SAP FI module has the capability of meeting all the accounting and financial needs of an organization. It is [...]
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