20 FICO TIPS

FINANCE
MODULE QUESTION ANSWER
How can I perform a journal You can use transaction code FB50 or FB01 to
FI
entry in SAP FI? post a journal entry.

Document splitting is used to split financial

What is document splitting in transactions between different segments or
FI SAP FI, and why is it used? profit centers for detailed reporting and
analysis.

Automatic account determination is

How do I configure automatic
FI configured using the Transaction OBYC for
account determination?
various account determination keys.

Asset accounting is used for managing fixed

What is the difference between
assets, while general ledger accounting deals
FI asset accounting and general
with financial transactions for the entire
ledger accounting in SAP FI?
organization.
by chirag thakkar
You can use the transaction code FBD1 to
How can I set up a recurring
FI create recurring entries or F.14 for mass
journal entry in SAP FI?
recurring entries.

Special G/L transactions are used for handling

What are special G/L
specific business scenarios, such as down
FI transactions, and how do I use
payments or guarantees. You can configure
them?
them using transaction codes OBXR/OBYR.

How can I perform bank You can use the transaction code FF67/FEBAN
FI reconciliation in SAP FI? to perform bank reconciliation in SAP FI.

The New General Ledger (NewGL) is a feature

What is the New General Ledger
FI in SAP FI?
that offers enhanced reporting capabilities,
parallel accounting, and document splitting.

You can define exchange rate types in the

How can I define exchange rate
FI types in SAP FI?
customization menu using transaction code
OB08.

Document reversal is used to cancel or reverse

What is the purpose of document
FI reversal in SAP FI?
posted financial documents in SAP FI. You can
use transaction code FB08.
by chirag thakkar
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20 FICO TIPS
CONTROLLING
MODULE QUESTION ANSWER
Cost centers are used to monitor and control costs
What is the purpose of cost
CO within an organization. You can create and manage
centers in SAP CO?
them using Transaction KS01.

Cost element accounting is used to track

How can I use cost element
CO accounting in SAP CO?
income/expenses at a detailed level. In S4HANA
they are created as GL accounts using T-code FS00

Internal order settlement is used to allocate costs

What is internal order settlement
CO from internal orders to other cost objects. You can
in SAP CO?
perform it using Transaction KO88.

How do I define profit centers in Profit centers are used for profit and loss analysis.
CO SAP CO? You can create them using Transaction KE51.

by chirag thakkar Actual/plan/commitment reporting is used for cost

What is actual/plan/commitment
CO control and analysis. You can access it using various
reporting in SAP CO?
reports and transaction S_ALR_87013611.

Product cost planning is used for calculating the

What is product cost planning in
CO SAP CO?
cost of goods manufactured. CK11N is used to create
cost estimates in product costing.

Cost center hierarchies provide a structured view of

How can I set up cost center
CO hierarchies in SAP CO?
cost centers. You can configure them using
Transaction KSH1.

Profit center standard hierarchy is used for

What is profit center standard
CO hierarchy in SAP CO?
reporting. You can set it up using Transaction
KCH1.

Overhead orders are used for indirect cost

How can I use overhead orders in
CO SAP CO?
allocation. You can create and manage them using
Transaction KOT2.

Cost component split is used to break down the

What is cost component split in
CO SAP CO, and why is it important?
costs of a product into different components for
detailed cost analysis.

CHIRAG
THAKKAR