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.
A profit center accounting is a division within the entity that is treated separate from the corporation. A profit center is a stand-alone section of the corporation that is required to generate its own profits and perform its own accounting.… Read More
Foreign Currency Transactions:
There three types of Exchange rates defined by SAP,
Path: SAP⇒SAP Netweaver… Read More
IMG⇒ Controlling⇒ Cost Element Accounting⇒Reconciliation ledger⇒Activate/Deactivate Reconciliation Ledger
Double Click on “Activate Reconciliation Ledger”
T-Code: KALA
Press “Enter”
For “Deactivate Reconciliation … Read More
SAP Credit memos are used to correct a vendor invoice. Once the invoice and the credit memo difference is posted in SAP, any open items left in the invoice, credit memo and payment can be cleared. To take an example, … Read More
This is one of the regular tasks in the production environment. The period end closing activities are defined as the regular periodical tasks to be executed at predetermined period intervals. In each application component or activity this period end closing … Read More
1. Process Depreciation Run
Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Depreciation run -> Execute – AFAB
2. Process Investment Grant
Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> … Read More
Credit memo in SAP are used to correct a vendor invoice. Once the invoice and the credit memo difference is posted in SAP, any open items left in the invoice, credit memo and payment can be cleared. To take an … Read More