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SAP FI System Integration for Your Business

SAP software provides useful tools for business management through various systems, from human resources to operational logistics. It allows for automatization and integration. 

Users of SAP FI use it to report on their finances both externally and internally. It’s made up of different submodules consisting of SAP General Ledger Accounting, Accounts Receivable, Bank Accounting, Accounts Payable, Asset Accounting, and Special Purpose Ledger.

SAP systems consist of many modules, covering each aspect of business management. VoIP simplifies one of these by allowing users to make phone calls online. It creates a much simpler and unified office environment. 

 

Financial Accounting Structure

Defining a Company in SAP 

This is an optional detail in the system. A company is an unrestrained organization that merges two or more company codes at a segmented level. The group company allows you to generate financial statements as needed by the organization.

Step 1

Enter the transactional code (OX15), and press continue. On the resulting screen, click the ‘New Entries’ option. 

Step 2

On the ‘New Entries’ screen, update the following information-

  • Company  – Enter a key that helps define the company.
    • Company Name – Update the detailed name of the company. 
    • Name of company 2 – You can enter the second name or alias of the company. If needed, you can also keep it blank.
  • Street, Postal Code, City, and Country – Enter these details correctly. The country is the only required field. Choose a two-character country code from the list offered. 
  • Language Key – This allows the system to use the correct language. By default, it’s English and set as EN. 
  • Currency – Is also called local or home currency. The decimal places aren’t accounted for until processing. This means if you define the amount with two decimals, such as $200(American dollars), it will appear as $20000. Only once the transaction has been processed will it appear as $200.00. 
Step 3

After all the required details are updated, click the save button to store the company information. This will bring up the prompt for customization. By clicking on the new entries button, you can make a custom request. Update the custom description and click continue to finish the action.

Defining a Company Code 

It allows for the generation of individual financial statements like balance statements, profits, and loss. The company code definition is mandatory. 

Step 1

First, enter the transaction code (OX02) in the command field. 

Step 2 

On the change view screen, click on ‘New Entries’ and enter the following data-

  • Company  – Enter the four-digit alphanumeric code to identify the company. 
    • Company Name – Update the company’s name. 
  • City and Country – Enter the city and country of the company. 
  • Language Key – The default language is English (EN). 
  • Currency – The currency should match the country of the business.
Step 3

Once all these details are updated, save, and configure the data. This will prompt a more in-depth address screen. Complete the data and save it. This allows you to transport request numbers.

In Summation 

Once you’ve updated these two systems, you’ll be able to move on to defining the business and functional area. This will let you create an enterprise structure that maximizes the SAP system in a fully integrated way. 

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