Financial and Asset Accounting Integration LESSON OVERVIEW This lesson will explain the process to integrate Funds Management, core processes within purchasing and the uses of Asset Accounting components. LESSON OBJECTIVES After completing this lesson, you will be able to: Define the business processes that are integrated in Funds Management Explain the ways in which the Controlling, Project System, Asset Accounting, Plant Maintenance, and Sales and Distribution application components can be integrated with Funds Management Compare the different core processes that take place within purchasing, and within payroll and trip cost accounting Troubleshoot the individual steps to be followed and a detailed explanation of how they are inter-linked and how assessed value is adjusted Figure 146: Financial and Asset Accounting Integration Figure 147: Integration FI - Funds Management A commitment item must be defined in each line item of an FI document for integration with FI.
In this post I'll try to explain what the definition of SAP FI (Finance) and SAP CO (Controlling) Companies that implement SAP SAP FICO is a core functional component in SAP ERP Central Component that allows an organization to manage all of its financial data. The purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting and help with effective business planning and decision-making. SAP FICO consists of two modules, SAP Finance (FI) and SAP Controlling (CO), each of which is used for specific financial processes. SAP FI deals with overall financial reporting and accounting while SAP CO focuses more narrowly on planning and monitoring costs. SAP FI and SAP CO were originally released as separate modules but are now so tightly integrated that many people refer to them as simply one module. SAP FI modules SAP FI enables companies to generate financial statements -- such as balance sheets or profit and loss statements
Asset Transaction Types Every transaction in Asset Accounting carries an asset transaction type. There are groups of transaction types for specific operations: Acquisitions Retirements Transfers Post-capitalizations Investment support measures Depreciation Write-ups The group a transaction type is assigned to defines a lot of basic characteristics for the transaction, such as which value fields are updated, the valid fiscal year (current or previous), the sign (positive, negative) of the sum of the postings for a fiscal year, and more. The transaction type groups are hardcoded system settings and can’t be changed. Additionally, each transaction type has a set of controls that you configure. The specifications can differ according to the transaction type group. Depending on the transaction type group of the transaction type, you define settings such as the following: Debit/Credit Capitalize/Retire Document Type Posting to Affiliated Company Post Gross/Net
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