SAP FICO Configuration

Retained Earning Account is necessary for bringing forward the profits and losses to next year. You could have one or more retained earning accounts. They will be offset accounts to the revenue and expense profit and loss accounts. Transaction: OB53 IMG Path: Financial Accounting (New) -> General Ledger Accounting (New) -> Master Data -> G/L Accounts -> Preparations -> Define Retained Earnings Account Table: T030 When you enter into the transaction, fill the necessary fields.   Even though you don’t have retained earning account, you will be able to define it here with warning message. …

With this transaction you are able to see all objects related to Financial Accounting which are assigned to particular Company Code. It will give you nice overview of the what you did so far. Transaction: OBY6 IMG Path: Financial Accounting (New) -> Financial Accounting Global Settings (New) ->Global Parameters for Company Code -> Enter Global Parameters Table: T001, T004, T009, T004T, T009T, T880, T014, T014T   When you enter into the transaction, find you company code and double click on it.   From here you are able to maintain different parameters which have direct relationship …

We already have dummy profit center, profit center group, controlling area and other FICO objects defined. In Maintain Controlling Area Settings, we are defining different options related to Profit Center Accounting. We are able to define the profit center currency, eliminate or not the cost center records based on the same profit center and so on. Transaction: 0KE5 IMG Path: Controlling -> Profit Center Accounting -> Basic Settings -> Controlling Area Settings -> Maintain Controlling Area Settings Table: TKA01   When you enter into the transaction screen, maintain the options as you require and then …

Segment is usually represented by requirement for producing legal reporting statements based on different product groups or services which the company is providing. Usually Profit Centers area assigned to Segments you are able to group them as such. In Some cases you will be able to use profit center groups instead of segments to get the same result, but in case you want to have profit centers pointing to one segment from different profit center groups, then Segment is the way to go. There is also a possibility to implement custom derivation of Segment based …

Dummy profit is necessary for all those postings which do not have defined profit center in it. Creation of regular profit center is done by another end-user transaction. Transaction: KE59 IMG Path: Financial Accounting (New) -> General Ledger (New) -> Master Data -> Profit Center -> Create Dummy Profit Center Table: CEPC   When you execute this transaction through IMG menu, you will get following screen. Choose your Controlling Area.   Fill the name of your dummy profit center and hit “Basic Data”. You have to also choose a Segment for that dummy profit center. …