In S/4HANA Finance, the G/L account and the primary cost elements merge into one. If you use account-based profitability analysis (CO-PA) or if you have make-to-order processes requiring results analysis and settlement, you also use cost elements for revenues or sales deductions. In all accounting approaches, you use cost elements to represent wages and salaries, material expenses, depreciation, and many others. The primary cost elements represent the profit-and-loss accounts used to classify your journal entries.In S/4HANA Finance, as the accounts and cost elements are merged, the following changes result: The cost element design within the controlling area is a vital part of setting up your controlling (CO) system. Learn what changes come with S/4HANA Finance and what remains as before. However, this technical change does not mean that the idea of a cost element has disappeared with S/4HANA Finance. The transactions for the creation and maintenance of cost elements become obsolete, replaced by a single transaction for account maintenance. As companies migrate to S/4HANA Finance, the system merges their existing G/L accounts and cost elements. With S/4HANA Finance, the universal journal includes a single field account that covers both the general ledger (G/L) account and the cost element. This blog post about S4HANA Cost Elements is from our friends at SAPexpert - the source for trusted SAP tutorials, tips, and training content.
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