What’s the assignment rule of profit center to cost center, and vise versa?
A profit center can be assigned to 1 or more cost centers (1:1 or 1:n). Meaning, many cost centers can use the same profit center. All postings to the cost centers are posted statistically to the profit center assigned. Here’s an actual screen shot of the [...]

The Fixed Asset Accounting component of SAP system handles transactions and data for company’s fixed assets. Just like the AR (customers) and AP (vendor) component, each fixed asset is treated in the system as subsidiary ledger. Each fixed assset has a complete record in the system, from acquistion to retirement. This component has seamless integration [...]

The Accounts Payable application component of SAP system handles and manages financial transactions and accounting data of all vendors. It is fully integrated with Material Management component through account determination. Vendors are treated in the system as subsidiary accounts. Logically, monitoring should be done at vendor level. Transactions to each vendor is unique, hence necessitate individual recording and monitoring.
Each vendor account is [...]

The Controlling (CO) component of SAP R/3 system contains all accounting functions necessary for effective controlling for businesses. Every organization normally have an external and internal  accounting viewpoints. The external viewpoints is represented by Financial Accounting (FI) component and Controlling (CO) represents the internal accounting viewpoint. CO component of SAP system offers a broad selection of [...]

The Accounts Receivable application component of SAP system handles and manages financial transactions and accounting data of all customers. It is fully integrated with Sales and Distribution component through account determination. Customers are treated in the system as subsidiary accounts. Logically, monitoring should be done at customer level. Transactions to each customer is unique, hence [...]