The SAP asset accounting component handles fixed asset accounting transactions of a business. Individual fixed asset is treated in the system as subsidiary ledger. Each asset is link to a general ledger reconciliation account. All postings to each individual asset are posted automatically to the reconciliation account.  The following steps (processes) are necessary for period-end in Asset Accounting component of SAP: A. Completeness [...]

Listed below are SAP standard transaction codes in SPRO in Internal Order acccounting for your reference: »» OKKP – Activate Order Management in Controlling Area »» KOT2 – Define Order Types »» KONK – Maintain Number Ranges for Orders »» OK02 – Define Status Profiles »» BS52 – Define Authorization Keys for Status Management »» [...]

In accounting terms,  credit memo and debit memo terminologies are usually used. If you’re not acquainted with accounting terms, you might not fully understand what these terms mean and their uses. The objective of this article is to explain clearly the meaning and uses of both terms. Credit memo and debit memo are related to accounts [...]

SAP ERP system is based on “document principle”. Every business transaction posted in an SAP system creates and stores document number. When you post an invoice or payment, document number is created. When you post reverssal of the invoice or payment, another document number is created. The document provide an audit trail for all transactions entered into the system. You [...]

Listed below are SAP BASIS transaction codes for your reference:   »» SM04 – User Overview »» SM12 – Display and Delete Locks »» SM13 – Display Update Records »» SM14 – Update Program Administration »» SM21 – System Log »» SM35 – Batch Input Monitoring »» SM50 – Work Process Overview »» SM51 – [...]