Create Cost Center Master Data Let’s see how to create cost center master data in SAP. First of all, you need to navigate to the following path in SAP Easy Access Menu: Accounting – Controlling – Cost Center Accounting – Master Data – Cost Center – Individual Processing – Create Read more…
In SAP Simple Finance, you can create a new asset under Asset Accounting. An asset in accounting is known as any tangible/intangible resource that can add a value and can be included in the financial statement. Step 1 − To create a new asset, navigate to Accounting → Financial Accounting Read more…
In SAP Simple Finance, only primary cost elements have an associated G/L account. Secondary cost elements which are used to allocate costs for internal activities, they don’t have any corresponding G/L account. Step 1 − To create a secondary cost element, navigate to Accounting → Controlling → Cost Element Accounting Read more…
You can create a Primary cost account in updated G/L account maintenance transaction. In SAP Finance Accounting, the primary cost elements are personal cost, material cost, etc. When the cost element is carried between FI and controlling, it is called primary and linked is established using G/L account. Step 1 Read more…
Company codes are the part of within your organization, the financial transactions are viewed at the company code level. It is SAP recommended approach that once a company code has been defined in configuration with all the required settings then other company codes later created should be copied from the Read more…