Posting period variant are used to specify which company codes are open for posting. Posting period variants are cross-company codes and must assign them to company codes.
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After creating Posting Period Variants, it needs to be assigned to company code.The link between the Posting Period Variant and Company code is established through Assignment.
Posting periods can be defined in fiscal year variants. Posting periods can be open and close for posting. As many periods as require can be open for posting simultaneously.
Posting Key is a two-digit numeric key.It is defined to control the entry of document line items in a FI Transaction. Posting Key specifies the line item is either debit or credit entry, account type and the screen layout of line items.
Document type key is used to distinguish between business transactions to be posted and classify accounting documents. The document type is entered in the document header and it applies to the whole document.
One or more document types can assign to number range. The number range is defined by document type and is responsible for generate the document number.
Almost every country has taxable transactions. The taxable transactions can be incoming or outgoing where input or output tax should apply. For example, customer/vendor transactions. The creation of tax codes for taxable transactions includes the below steps –
Almost every country has some transactions which are non-taxable. The non-taxable transactions can be incoming or outgoing where input or output tax should not apply. For example, Government transactions. The creation of tax codes for non-taxable transactions includes the below steps –
Segment is a division of a company for which the financial statements can be created for external reporting.
The General Ledger accounting task is to provide a comprehensive picture of external accounting and accounts. General Ledger accounting used to record all business transactions in a software system of a company and ensures the accounting data is always complete and accurate. General Ledger Accounting achieves other requirements for modern accounting: