In part one, I went through and outlined the steps needed when creating a new business code in SAP’s Enterprise Structure area. What needs to be configured in the FI Module will be listed and discussed in this blog. As you may remember, this topic is divided into six divisions.
- Part 1 of the enterprise structure
- Part 2 of FI Configuration
- Part 3 of SD Configuration
- General Logistics – Part 3
- Part 4 of AR & AP
- Third-Party Materials Management
I will now continue with a list of the configurations needed for the FI Module.
- OBC4 – Define Field Status Variants (normally already exist if this is an existing operation and just adding a new company code)
- OBC5 – Assign Company Code to Field Status Vanriant
- OB37 – Assign Company Code to Fiscal Year Variant
- Define Variants for Open Posting Periods (OBBO)
- OBBP – Assign Open Period Varaints to Company Code
- OB52 – Open and Close Posting Periods (Normally Done Monthly)
- FINSC Ledger(OB22 for ECC) (OB22 for ECC) Local currency should be of Currency Type 10, while controlling area currency should be of 30-Group Currency. If you set up the Controlling Area Currency in this configuration as Currency Type 20, you will only have postings in Group Currency when it is a Cost Element, which means Balance Sheet items won’t have a posting in Group Currency. Using Currency Type 30 results in posts to the balance sheet and P&L in Group Currency.
- Table V 001 COS in SM30 It is crucial to confirm that Cost of Sales Accounting is activated here if your company uses it.
- Define intercompany clearing accounts in the OBYA
- Assignment of Company Code to Controlling Area (OKKP). This can be substituted in the Enterprise Structure section for OX19. You must additionally activate components and control indicators within this T-code.
- OBR3 – Set Company Code to Productive – This setting is crucial if the Company Code is being used right away. By setting this trigger, personalization and data are protected from accidental deletion.
- Define the maximum exchange rate difference with OB64. Normally, this is set to 10%. This stops errors involving significant currency rate differences from being posted.
- Only nations that demand Fiscal Year Document Number Ranges should use the OB63 – Default Fiscal Year field.
- OB28 – Validation in Accounting Documents – You must ensure that any necessary validations that were set up in other company codes have been replicated to the new company code when necessary when introducing a new company code.
- When Cost of Sales has been activated, it is crucial that the SAP substitution 01-UKV is activated for each Company Code using the OBBZ – Activate Substitution for Cost of Sales command. By doing this, the appropriate Funtional Area will be assigned to the appropriate Cost Center Categories.
- OB62: Assign the appropriate Chart of Accounts’ Company Code.
- Define Exchange Rate Ratios in the OBBS. It is crucial to set up this table with the exchange rate between the local currency and any foreign currencies being used if you are conducting foreign currency transactions.
- V FAGL T881 in SM30 The Leading Ledger must be set. Normally, this is set to 0L.
- V FAGL T882G, SM30 When using parallel ledgers, you must turn on the other utilised ledgers. This most frequently occurs when non-leading ledgers are necessary for statutory accounting requirements particular to the other country and you have business codes in a foreign jurisdiction.
- Ledgers -> Ledger -> SPRO — FA Global Settings -> Add Customer Fields and Scenarios to Ledger
- Due to the fact that it determines which fields are updated in the Alternative Ledger, this is essential. These are typical situations.
- You can add specific fields you want updated under Customer Fields that may be unique to your organisation, and you can define version-specific adjustments as well. Normally, these two are empty.
- Define and assign accounting principles in SPRO — FA -> FA Global Settings -> Ledgers -> Parallel Accounting ->
- Define Tax Procedures (OBYZ) — This might be a standalone blog post.
- OBBG: Assign a Country a Tax Procedure
- Define the tax codes to be applied to sales and purchases with FTXP.
- Set Up GL Accounts for Automatic Tax Postings (OB40)
- When publishing invoices, OBCL sets the non-taxable code as the default for tax codes. company code designation assigned.
Many of these topics need deeper explanations and conversations inside your company. Here, I’m trying to list the fundamental components that must be configured while making a new corporation code. SD, MM, and general logistics will all be covered in my upcoming addition.