Reconciliation Ledger in SAP

How to Reconcile CO and FI Modules in SAP

The Reconciliation Ledger is a functionality available in the SAP Controlling module which helps in reconciling CO and FI. In the reconciliation ledger, Controlling CO data is totaled and valuated. The reconciliation ledger displays data in all CO applications. This data could be for a cost element, business area, object types, object classes, totals of company codes etc.So how does the reconciliation ledger reconcile FI and CO records. The reconciliation ledger uses reconciliation postings for this purpose. Read more

Step by Step SAP Product Costing End-User Documents

Contents:

C088 Settlement Prod Cost Collector Collective
CK11N Create Material Cost Estimate
CK13N Display Material Cost Estimate
CK24 Mark Future Price
CK24 Release Price Update
CK40N Edit Costing Run
CK44 Delete Costing run Read more

Special Purpose Ledger Configuration

Introduction(From Material)

In the FIGL configuration we configured the company code A Ltd 9100 for a fiscal year variant K4 (January – December). This book (Ledger 0) is used for reporting to the parent company.

A Limited also wants to prepare accounts for tax purpose based on fiscal year variant (April to March). This is possible by implementin g Special purpose Ledger. The data from FI module will be passed on to the Special Purpose Ledger.

Special Purpose Ledger calls for creating a new table group, new Ledger and the field movements. The fields which are required for reporting needs to be captured in the object table 1.

You have to define your own reports in the report painter reports in Special purpose Ledger. This can be a Trial Balance, Balance sheet and profit and loss account.

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FI-CO Config Log for Application Consultants

Within this material,all the configurations covered with for FI-CO application consultants for the following processes

Creating Company Code
Defining Company Code
Posting Periods
Document Number Ranges
Field Status Variant
Defining Tolerance Groups for Employees
Defining Tax on Sales/Purchase
Defining Tax Accounts and much more..
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Creating Tax Codes

Transaction:  FTXP

This area gives you a step by step explanation on “how to create a tax code in SAP”. Later on these tax codes must be used in the creation of condition tables such as for MWST.

  • Go to transaction code FTXP and select the country for which you need to create a tax code.  This country is automatically linked to the Tax Procedure which has been set up in the menu path [IMG – Financial accounting – Financial accounting global settings – tax on sales/purchases – basic settings – Assign country to calculation procedure]. Read more

FI Checklist for Closing

1 Execute Report for InterCompany Activity & Journal Entries
2 Open posting period for next yr
3 Run Business Area’s Assignment report.
4 Review list of recurring journal entries
5 Execute Recurring Entries for A/R, A/P, G/L
6 Process Parked A/R, A/P, G/L accounting documents
7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire
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