The currency and valuation profile used to decide which valuation approaches uses to manage in the system. The system can be managed by a maximum of three valuation approaches in two currencies in parallel.
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Once the currency and valuation profile is defined, it must be assigned to a controlling area. Below process is to assign currency and valuation profile TCVP (Test Currency and Valuation Profile) to Controlling Area TCCA (Test Controlling Area).
Cost Center known as a component in an organization where costs are incurred that adds value to the cost and adds profit of the organization. Cost Center is a simple and straightforward division in an organization.
Account Determination is to establish the connection between the asset master records and the corresponding accounts in the general ledger in Financial Accounting.
The number ranges always define at company code level. Specify the number range per company code while customizing for the asset class. Alphanumeric intervals can only be assigned externally.
Bank key is a bank identifier used to identify the bank in the specific country. The country-specific definition of the bank key can be specified when country key defined.
House banks are the banks used to deal all transactions for the company. In other words, it is an operating bank where all transactions are made by the company.
Normally, checks supplied by a bank usually divided into lots (batches). In the SAP System, a check number range represents a batch (lot) of numbered checks.
Many public-sector customers need to use the balancing function to track balancing entries posted in financial documents. Those balancing entries appear in the documents of the special purpose ledger or in the general ledger view of new General Ledger Accounting.
Exchange rates is a relationship between two currencies. Exchange rates are used to translate an amount into another currency. Exchange rates can be defined in the system for the following purposes: –