Skip to main content

Free and Open Source ERP - ERP next

  Introduction What is an ERP system? And why should businesses use it? Today, small and medium-sized businesses (SMEs) also face some of the problems that large enterprises do. One of them being planning and managing their resources. SMEs face similar complexities but have limited resources to deal with them. Small businesses (like their bigger counterparts) have to: Do accounts to track their sales/purchases. Do their taxes. Pay their employees. Manage deliveries within promised timelines. Deliver quality goods and services. Communicate with customers, answer their queries. Large enterprises invest millions of dollars in highly sophisticated systems like SAP. SAP and similar systems are able to handle requirements from these large enterprises to bring their  multi-country ,  multi-company ,  multi-currency , global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation,...
Post a Comment

SAP FI - Company Basics




A company is defined as the smallest unit for which financial statements can be created in accordance with commercial legal regulations.

In SAP FI, a company can comprise of multiple codes, however it acts as a single unit for which financial statements are available. All the company codes must use the same chart of accounts list and fiscal year, however each code can have a different local currency.

A chart of accounts list consists of all the chart of accounts that can be used and each code must have one chart of account.

A fiscal year normally consists of twelve months’ time period where company creates the financial statements.

SAP FI – Create Company

Login to SAP FICO

Use T-code SPRO → click on SAP Reference IMG → New window will open.

Login to SAP FICO

Expand SAP Customizing implementation guide → Enterprise Structure → Definition → Finance Accounting → Define Company → click on Execute (see the pointer in the screenshot).

SAP Implementation Guide

A new window will open → click on New Entries → New Entries: Details of added entry

New Entries

You need to provide the following details to create a new company −

  • Enter the company code to represents group of company.
  • Enter the company name.
  • Enter the full address-street, PO Box, postal code, city.
  • Enter the Country.
  • Enter the Language key.
  • Enter the currency
Add Entries

The next step is to save the company details → CTRL+S or as shown in the above screenshot.

SAP FI – Create Company Code

In SAP FI, a company can comprise of multiple codes, however it acts as a single unit for which financial statements are available. Company code is the smallest unit in an organization for which financial statements (profit-loss statement, etc.) can be generated.

Create, edit, delete a company code

Let us discuss how to create, edit, and delete a company code. Take a look at the following screenshot.

Company Code

Expand Enterprise Structure as mentioned in the previous topic → Definition → Financial Accounting → Edit, Copy, Delete, check company code → Execute using click on the watch image → New window will open → You can create a new company code by selecting both the options.

Check Company Code

Select Edit, Copy, Delete, and Check Company Code. It allows you to copy all the configurations and tables automatically.

If you select Edit company code, you will get the following window → click on New Entries and update the code details.

Edit Company Code

Edit Company Code

You can click on the Address button and update the following fields. Once the Address field is updated, click the Save button.

Address Field Update
Labels:

Comments

Post a Comment

Popular posts from this blog

SAP FI Posting period variant

SAP FI Posting period variant is used to maintain accounting periods that are open for posting and all closed period are balanced. This is used for opening and closing period in the fiscal year for posting purpose. You can assign these posting periods to one or more company codes. How to create posting period variants in SAP FI? Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Document → Posting Periods → Define Variant for open Posting Periods → Execute. It will open a new window. Now, click New Entries. It will open another window, as shown below. Enter the 4-digit Posting Period Variant and name of the field. Click the Save icon to save this variant. Open and Close Posting Periods Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Document → Posting Periods → Open and Close Posting Periods → Execute. Click the button New Entries, as shown in the following screenshot. Now, you need to provide the ...
Post a Comment
Read more

SAP FI GENERAL LEDGER

The General Ledger is used to record all the business transactions in a software system. SAP FI – Chart of Accounts The FI chart of accounts represents the list of GL accounts that are used to meet the daily needs and the operating country’s legal requirement in a company. The master chart of accounts must be assigned to each company code. Chart of accounts (COA) can be divided into the following types − Operating Chart of Accounts  − It contains all the General Ledger accounts that are used to meet the daily needs in a company. The operating chart of accounts has to be assigned to a company code. Country Chart of Accounts  − It contains a list of all General Ledger accounts that are required to meet the operating country’s legal requirements. You can also assign a company chart of account to the company code. Chart of Accounts Group  − This COA group contains a list of all the G/L accounts that are used by the entire company. How to create a new Chart of Accounts? You ca...
Post a Comment
Read more