Versions in Controlling (CO) are time dependent or year dependent. Maintain Versions used to create independent data groupings in planning and in actual. In planning, versions display alternative plan scenarios based on different planning assumptions.
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After Controlling Area created successfully, the company codes should be assigned to controlling area. The company codes should have the same Fiscal Year variant and Chart of Accounts which are used while creating Controlling Area.
Account Determination is to establish the connection between the asset master records and the corresponding accounts in the general ledger in Financial Accounting.
Controlling Area should be activated to apply the changes to its sub modules as well as company codes assigned. Before proceeding activation, the Controlling area should be created and the company code(s) assigned to the controlling Area.
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.
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.
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.
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).
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.
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.