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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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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