Account Assignment Model in SAP: FKMT
Account Assignment Model
SAP Menu Path: Accounting –> Financial Accounting –> Accounts Receivable –> Document Entry –> Reference Documents –> Account Assignment Model Transaction Code: FKMT
On the “Account Assignment Model: Initial screen, enter the following details.
- Enter Account assignment model reference name
- Click on create icon to create account assignment model
What is Account assignment in SAP FICO ?
Updated Apr 01, 2023
Account assignment is a critical aspect of financial accounting and management in any organization. It refers to the process of allocating financial transactions to specific cost or profit centers, projects, or business processes. By properly assigning financial transactions to the appropriate account, organizations can accurately track their expenses, revenues, and profitability. This information can then be used to make informed decisions about resource allocation, cost control, and overall financial management.
In SAP FICO, account assignment is a core module that offers various types of account assignment options, including cost center accounting, profit-center accounting, internal order accounting, and WBS element accounting. These options provide organizations with greater visibility into their financial performance, enabling them to optimize their operations and drive greater value for their stakeholders.
Types of Account Assignment
There are several types of account assignments in SAP FICO, including:
- Cost center accounting
- Profit center accounting
- Internal order accounting
- WBS element accounting
i) Cost center accounting
Cost center accounting is the process of tracking and analyzing costs associated with each department, function, or unit of an organization. SAP FICO provides a module that allows organizations to create and manage cost centers, allocate expenses, and generate reports to track performance.
By tracking expenses at a granular level, organizations can make informed decisions about resource allocation, identify areas of inefficiency, and make changes to improve overall performance, reducing costs and increasing efficiency.
ii) Profit center accounting
Profit center accounting is a process that allows organizations to track revenues and expenses at a granular level, providing insights into the profitability of individual business units, product lines, or geographic regions. By allocating revenues and expenses to specific profit centers, organizations can generate reports that help identify areas of high profitability or inefficiency.
SAP FICO provides a comprehensive profit center accounting module that enables organizations to create and manage profit centers, allocate revenues and expenses, and generate reports to analyze profitability. This information can be used to make informed decisions about product lines, investments, and resource allocation, enabling organizations to optimize their profitability and drive growth.
iii) Internal order accounting
Internal order accounting is a process that allows organizations to track and control expenses associated with a specific project, event, or business process. By assigning costs to a specific internal order, organizations can monitor actual expenses versus budgeted expenses, and ensure that resources are allocated efficiently.
iv) WBS element accounting
WBS (Work Breakdown Structure) element accounting is a process that allows organizations to track and control expenses associated with a specific project or work breakdown structure. It involves breaking down large projects into smaller, manageable tasks or work packages, each of which is assigned a WBS element.
Expenses are then allocated to each WBS element to track actual versus planned expenses and ensure that resources are allocated efficiently.
Advantages of Account Assignment
The advantages of account assignment in SAP FICO include:
Better visibility: Account assignment allows organizations to track expenses and revenues at a granular level, providing better visibility into financial performance.
Resource allocation: By tracking expenses and revenues, organizations can make informed decisions about resource allocation, ensuring that resources are allocated efficiently.
Cost control: By identifying areas of inefficiency or waste, organizations can make changes to control costs and improve profitability.
Accurate reporting: Account assignment provides accurate reporting and analytics, enabling organizations to make informed decisions about their financial performance.
Compliance: Account assignment helps organizations comply with regulatory requirements and accounting standards.
How to Define Account Assignment?
Please follow the steps below to define the account assignment:
Execute t-code OKB9 in the SAP command field as shown in the image below.
On Change View "Default account assignment": Overview you will see the list of default account assignments.
Next, click the New Entries button to create a new account assignment.
In the next window, enter the following fields:
- Cost Ctr
Now click on the Save button to save the new account assignment.
Now in order to post a test document to check that the account assignment works, execute t-code FB50 in the SAP command field.
On the next popup enter Company Code as shown below.
Now on the next window, click Tree On button.
Next, select the Screen Variant in the next window and click Tree Off button.
In the next window, enter the following fields according to your requirements:
To make the document assignment, click the Post button.
The account assignment is now defined and can be used for tracking expenses and revenues at a granular level in SAP FICO.
- 04 Dec 2013 7:51 am rekha Account assignment is used in Sap Fico if you frequently use the same broad account assignments, such as a distribution of amounts to several company codes, accounts, or cost centers, you can use the account assignment model method to save input time and avoid input errors. The use of account assignment models is limited to G/L account items. T-code OK17 is used in the account assignment. If you have CO-FI real-time integration active you need this account assignment.
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SAP FI Tcodes & SAP CO Transaction Codes (Finance and Controlling Tcodes in SAP)
Table of Contents
SAP FI Tcodes: Document Posting and Other Transactions
Posting Documents in General Ledger Accounting: If the balance of debits and credits in a document is zero, you can post the document. When you post the document, the system saves it and updates the G/L account balances. ( source )
SAP Document Posting Tcodes
The most important SAP Document Posting Tcodes are:
Activation of Line Item Display
Other document posting transaction codes, other transactions – sap technical fi tcodes, sap document parking tcodes, sap tcodes for hold documents.
Holding Documents :
When you are entering data, you may be interrupted, or you may not have all the data you need for entering a document, for example bank charges or the appropriate cost center.
In this case, you can temporarily save the data you have entered, and then continue with the document entry at a later time.
If you want the system to hold a document, it does not have to be complete.
Account balances are not updated and the document data is not available for evaluation. A document number is not assigned. ( source )
Sample Documents in FI Tcodes
Read more on Sample Document Posting in SAP FI ( Posting with Sample Documents )
SAP Accrual/Deferral Documents Tcodes
Accrual/Deferral Document Posting in SAP FI: The Accounting area includes accrual/deferral functions that you can use to assign incoming and outgoings to the period in which they arose.
You use the accrual/deferral function to calculate the expenses (outgoings) and revenues (incoming) for a period on a certain key date/period-end closing (for example, at the end of a fiscal year) ( source )
SAP Tcodes for Recurring Documents
Recurring Entries in SAP FI: Periodically recurring entries posted by the recurring entries program based on recurring entry documents.
This process is comparable to the standing order you give to your bank to deduct your rent, premium payments, or loan repayments.( source )
Reversals Transaction Codes in SAP
The SAP FI Reversals Transaction Codes in SAP are:
Interest Calculations: Account Balance Interest Calculation
Foreign currencies balances revaluation, sap tcodes for tax on sales/purchases, related posts.
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Account Assignment Model Transaction Codes in SAP (25 TCodes)
An account assignment model can contain any number of G/L account items and can be changed or supplemented at any time. In contrast to sample documents, the G/L account items for account assignment models may be incomplete. ... Unless you enter a company code when using an account assignment model, the last company code used is proposed ...
A template used for document creation in which default values are provided for the posting of a business transaction. An account assignment model may contain any number of G/L line items, and can be changed or enhanced as needed. Unlike sample documents, account assignment models may contain incomplete G/L line items. Loaded 0%.
Account Assignment Transaction Codes in SAP (66 TCodes)
Account Assignment Model in SAP , T code > FKMT , PATH: Accounts Receivable > Document Entry --> Reference Documents > Account Assignment Model.
If you frequently use the same broad account assignments, such as a distribution of amounts to. several company codes, accounts, or cost centers, you can use the account assignment model. method to save input time and avoid input errors. The use of account assignment models is limited to G/L account items.
The system attempts to suggest a specific G/L account for a given preliminary account assignment. The number of the G/L account to be charged can be automatically suggested by the system provided that automatic account determination has been defined for the chart of accounts of the relevant company code.
Account Assignment Model is a reference for document entry that provides default values for posting business transactions. An account assignment model can contain any number of G/L account items and can be changed or supplemented at any time. In contrast to sample documents, the G/L account items for account assignment models may be incomplete.
Use T code FKMT to create an Account Assignment Model. If you create an AAM using this t code, you can use this model in t code F-51. To create a model..in the entry screen, Enter the Account Assignment Model - XXXX and click Create (F5) button. In the Account Assignment Model: Create header screen click Detials (Shift+F8) button.
Account Assignment in SAP - Everything you need to know | TCodeSearch.com Account Assignment in SAP - Everything you need to know SAP Glossary Terms Accounting - General Account Assignment Source: Official SAP Glossary Account Assignment Definition The term Account Assignment has different meanings depending on the context and Application.
Login / Sign-up Search Questions and Answers 0 Former Member Apr 20, 2009 at 12:34 PM Which t.code to create an 'Account assignment template'? 958 Views RSS Feed Hi All, Could anyone suggest me the t.codes to create 'Account assignment template' to usa in t.code FB01? thanks Gandalf
Updated Apr 01, 2023 Account assignment is a critical aspect of financial accounting and management in any organization. It refers to the process of allocating financial transactions to specific cost or profit centers, projects, or business processes.
Define Additional Local Currencies for Company Code: FKMT: Define Account Assignment Model: O7E6: Define Fast Entry Screens: FB00: Accounting Editing Options: OBR1: Reset Transaction Data : Delete Transaction Data in a Company Code: ... Creation of G/L Account: OBV2: Assignment of Accounts for Automatic Posting: F-02: Posting of Term Loan: F-02 ...
Automatic Account Assignment. The system attempts to suggest a specific G/L account for a given preliminary account assignment. The number of the G/L account to be charged can be automatically suggested by the system provided that automatic account determination has been defined for the chart of accounts of the relevant company code.
To use an account assignment model for document entry, proceed as follows: To call up an account assignment model, choose Goto Account assignment model from the menu, or the button Account assignment model . A dialog box appears for you to enter the key for the required account assignment model. Alternatively, to skip a step in the procedure ...
Account Assignment Model Template Transaction Codes in SAP (30 TCodes)
SAPLFKMT. Screen Number. 101. Transaction Type. T. Module. Financial Accounting. The SAP TCode FKMT is used for the task : FI Account Assignment Model Management. The TCode belongs to the FIDC package.
SAP Account Assignment Tcodes (Transaction Codes) , ACE Account Assignment Tcode, ACE Account Assignment Tcode, ACE Account Assignment Tcode, ACE Account Assignment Tcode, Define Account Assignments Tcode ... FI Account Assignment Model Management: FI: F838: Account Group /Revenue Type Assignment: PSM-FM-PO: FMCN: Reassignment: Supplement ...
SAP Glossary Terms Controlling Account Assignment Object Source: Official SAP Glossary Account Assignment Object Definition The term Account Assignment Object has different meanings depending on the context and Application. Here are the definitions by Application Component or Module. Controlling (CO) :
Account Assignment Model. · Select Accounting è Financial Accounting è General Ledger è Posting è F-02. 1.1 Start the transaction using the menu path or transaction code F-02. Document Type. It classifies the accounting documents. Select Posting key "40" for debit entry from the drill down menu. Enter the Account to be debited.
Account Assignment Model Input Template TCodes Most important Transaction Codes for Account Assignment Model Input Template # TCODE Description Application; 1 : OBYC: C FI Table T030 FI - Basic Functions: 2 : FS00: G/L acct master record maintenance FI - Basic Functions: 3 : MIRO:
(1) what is the diifference between Account Assignment Models (created via transaction FKMT) and account assignment template s (created via FB50 -> enter several line item postings -> goto menu EDIT -> account assignment template S -> SAVE account assignment template?