FI (Financial Accounting) Archive

How to Enter Exchange rates in SAP? Exchange rates Types

We have to enter the exchange rates to all exchange rate types if necessary or if you are following one type of rate, we can maintain the rates for that type only. Give the details as under Give exchange rate type :B Give valid from date:010406 Give ratio from:1

What is Automatic Clearing in SAP Configuration?

Automatic clearing in SAP is one of the functionality used to clear the accounts with open and clear items. And further used group the open items basing on some criteria and clears them according to the criteria. Automatic clearing in SAP Steps  Prepare Automatic clearing: Menu Path:

SAP FI (Financial Accounting) Module Training

The SAP FI module (Financial Accounting) is designed to capture organizations business transactions in a manner that will satisfy external reporting requirements. Local legal considerations are pre-delivered with the system and the ability to manage and report on multiple companies in multiple countries with multiple currencies is

What is Contract in SAP?

A contract is a longer-term agreement with a vendor (one of the two forms of “outline agreement” in the SAP system) to supply a material or provide a service for a certain period of time. A number of different terms may be used for this concept in

How to define Chart of Accounts in SAP?

To Define Chart of Accounts : The chart of accounts in SAP (COA) is nothing but list of GL accounts used by the company. There are three types of chart of accounts.1), Operative chart of accounts 2),Country specific chart of accounts 3), group chart of accounts. Generally we use

How to do Material Ledger Multiple Currency?

Material Ledger Multiple Currency: The system stores valuation data for a material in its material ledger in up to three currencies. You specify in which currencies the system stores this valuation data in Customizing for Valuation and Account Assignment. When you, for example, post an invoice receipt,

What is Invoice Verification in the SAP System?

The SAP system is made up of several components linked together so that different departments within a company can cooperate with one another. The Invoice Verification component is part of the Materials Management (MM) system. It provides the link between the Materials Management component and the Financial