SAP is an ERP package, which is used in many companies worldwide.The full form for SAP is System Application Products in Data Processing. The product is German in origin. we can see the SAP Overview of major sap modules include financial accounting-FI,Production planning-PP,Sales and Distribution-SD,Controlling (costing)-CO,Materials management (MM) and Human Resources (HR).
The full form of ERP is Enterprise Resources Planning. Previously companies used to do MRP i.e. Material Resource Planning. ERP is the up gradation of the same. The need for ERP arose due to lack of proper / common database available for all the functions in an organization.
In SAP FI module, when checking for duplicated invoices, the SAP system compares the following:
SAP OSS Note 305201 clarify this in a more … Read More
The Alternative Payee in SAP can make payment to a vendor other than the one to which the invoice was posted. The payment is made to an alternative payee, which must be specified in the master record.
You can specify … Read More
Cash Discount is a reduction in the price of an item for sale, allowed in those cases when payment is made within a stipulated period. In a business scenario, the cash discount will … Read More
SAP Activity types are activities provided by a cost center. They are measured in units of time or quantity. Activity quantities are valued using a price. For e.g. Activity types are used to allocate machine cost from Machine cost center … Read More
Extended Withholding Tax: SAP system provides two procedures for processing withholding tax; the “Standard” and the “Extended” withholding tax. We’ll walk you through on the basic configuration steps of the latter procedure.
1. First, Check … Read More
To Create Statistical key figures relating to cost centers, profit centers, and overhead cost orders. statistical key figures may also be a value representing the services provided by one particular cost center.
Statistical key figures are represents activities or statistics … Read More
Secondary cost elements are like production costs, material overheads, production overheads, they can be created and administered in only CO. These are used in internal cost allocation, overhead calculation, settlement transactions., it does not flow to FI.
When cost element … Read More