Author Archives: Admin

General Ledger Accounts used to generate financial statements as per the terms and conditions. Financial Statement Version (FSV) is a tree that organizes and groups general ledger accounts.

Field status group: – Field status group is maintained in GL account. Field status group defines the fields while posting to the GL. In other words, Field status group define a field as optional, suppressed or mandatory. The respective fields will be displayed are mandatory or suppressed or optional based on field status groups when […]

Accounting principles and valuation areas should be modified for the data to be posted automatically to the parallel ledgers. Once the accounting principles defined, those should be assigned to ledger group.

The accounting principle and valuation areas needs to be modified to post the data automatically to parallel ledgers. In this process, accounting principle needs to be assigned to ledger groups once the accounting principle is defined.

Valuation areas are defined for periodic processing in general ledger accounting. Below process is to define valuation area TVA (Test Valuation Area).

Valuation areas are defined for periodic processing in general ledger accounting. Valuation areas can be assigned to accounting principles in relation to periodic processing once the valuation area defined.

Month-end closing includes all activities involved in closing a posting period. Below activities can carry out as part of month-end closing –

Tolerances referred as payment differences. For G/L account clearing, tolerance groups define the limits which differences are accepted and posted to predefined accounts automatically.

Tolerances referred as payment differences. In SAP, tolerance group normally defines to make sure that employee do not exceed their authority while posting financial transactions.

Organizations can have business transactions in multiple counties where the currency is differing from local country. It is a common exercise to conduct transactions in other countries for organizations which is referred to as Foreign Currency Transaction.