Open and Cleared Items
SAP provides functionality to link and match one item to another (i.e., customer invoice with payment, vendor invoice with payment, invoice with credit memo) to help manage account reconciliation
Open items:
Open items are unfinished transactions. Open items need tobe matched/cleared against a clearing document to be settled and become cleared items
• Are line items in an account that have not be grouped with any other line item.
• E.g., an invoice needs payment to be completed: open items in the system in this case indicate unpaid invoice or payment that has not been applied to any invoices
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admin General Ledger Module General Ledger, Open item management, SAP, SAP FI, SAP FI Configuration
SAP FI Document Posting
- Once the document is posted, the SAP system only allows limited fields to be changed
• Posting Date, Document type, Currency, Exchange Rate, Posting Key, Accounts, Amount, Cost object cannot be changed
• Reference, Assignment, Text can be changed
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admin General Ledger Module Document Posting, General Ledger, SAP, SAP FI
What is Cost Center& Profit Center in SAP?
Cost Center in SAP is an organisational unit within a company that is used to track where costs occurred within the Organisation (i.e., as a cost collector)
- Cost Center hierarchy needs to be defined in the SAP system
- The hierarchy represents cost Organisation structure of the company
- If Profit Center is implemented in the system, the Cost Center is assigned to the Profit center. Many cost centers can be assigned to the same profit center.
- Part of Cost Controlling (CO) – Overhead Management
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admin General Ledger Module General Ledger, SAP, SAP FI
One Leading ledger and multiple non-leading ledgers can be created in the client.
Features of leading ledger:
- Leading Ledger represents the accounting policy and basic books of accounts of the company code
- Local/Parallel currencies and fiscal year of the leading ledger are adopted from the company code
- Leading ledger is the default ledger for all postings
- The leading ledger is based on the same accounting principle as that of the consolidated financial statement. It is integrated with all subsidiary ledgers and is updated in all company codes (if posting is not ledger specific)
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admin General Ledger Module General Ledger, Leding Ledger, New GL, SAP, SAP FI
Highlights and Key Functionality of SAP ECC 5.0/6.0 that different from SAP R/3:
1. New: General Ledger extensions:
The folloing are new features:
• Organisations can add dimensions to General Ledger as needed or as business evolves
• Extendible General Ledger that uses standard data structure
• Maintains existing functionality from your current General Ledger in SAP R/3 or R/3 Enterprise
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admin General Ledger Module General Ledger, New GL, Parallel Ledger, SAP, SAP FI
