Error Message: Processing not possible on 01/31/2010 – fiscal year 2010 not carried forward. Message no.: ACEPS061 Analysis and Diagnosis During periodic posting of manual accrual with key date 01/31/2010, the above error message occured. Processing terminated, as date 01/31/2010 in company code BP01 falls in a future fiscal year. Solution and Procedure: You can [...]

An internal order is use to accumulate costs for a specific project or task in a specific time duration. Hence, an internal order is used for a specific period of time with a specific deadline. There are two types of internal order, namely; STATISTICAL and REAL order. REAL ORDER Real internal order is required to [...]

Debit? Credit?- are accounting terminologies and most often than not, only accounting people understand these terms. Every transaction of a Company that has financial impact are recorded through a journal entry. Each journal entry composes of at least one debit and one credit; and the balance should always the same e.g. debit = 100, credit [...]

The new GL functions include “Parallel Accounting”, it’s an SAP feature where you can maintain different sets of books to satisfy all different requirements of Financial Statement users accurately, efficiently and effectively. Standard reports are already available and readily available to use. How does Parallel Accounting works in SAP (FICO)? Requirement is; a leading ledger [...]

In accounting point of view, Financial Accounting (FI) and Management Accounting/Controlling (CO) are two branches of accounting. Each branch has different purpose, serves different type of information users and uses different types of data and information. The following clearly distinguish the two branches of accounting: Financial Accounting output such as the financial statements generally used [...]