What is the difference between fi and co

Tammy Powlas. Like 0 Share. Right click and copy the link to share this comment. Birgit Starmanns Blog Post Author. Former Member. I have seen a lot of confusion around when you use a GL account and when you use a Cost Center. I have seen descriptions of GL accounts as Sales - South division Sales - North division There should be one GL account "Sales" and the area would be made up by a number of cost or profit centers.

Hi Mark, I definitely agree with the design approach that you mention, glad to hear that your client agrees as well! Harsha Yedla. This is a good introductory article. Hello Harsha, I'm glad that you find this introduction valuable! What are the different types of chart of accounts? The system provides three different types of charts of accounts that can be used. This includes operational chart of accounts, country chart of accoun Added to cart.

Go to Cart. Recommended Savings:. Upgrade You Save:. Detailed accounting entries. Accounts payable FI-AP Allows the analysis of supplier-related entries and has lists of balances, journals, balances, amounts due, etc. Examples of FI-AP reports. Accounts receivable FI-AR Allows the analysis of entries related to sales, payment forecasts, balance, monitoring of receivables, late payments, etc.

Examples of FI-AR reports. Outstanding settlements Terms due. Customer Balance. Bank accounting FI-BL Allows analysis of bank transactions and cash flow, receipts and disbursements, cash flow by liquidity condition, by paying company, payment requests, etc.

Examples of FI-AA reports. Fixed assets - Movements. Controlling CO Contains detailed expense and revenue data to provide information on the use of the elements of production and services provided by the enterprise. Cost analyses. Product Cost Controlling CO-PC Allows analysis of production prices, costs and revenues of a service, analysis of added value, detailed production costs, estimation of total costs, split costs by component.

Examples of CO-PC reports. Breakdown of production costs. Activity type for example No of Employee, Production hr whcih we can use to charge production over head to production order. Where CK86 costing a material based on a Procurement alternative. Transaction for product cost collector is KKF6n. As cost is collect and settle on period base. While the production order costing done on order bsae and settelment also carried for order.

In REM settlement is against a period. Because production is not dependent by order. So to settle the cost for all the orders in certain period ex. In this product cost collector, cost will store for all the orders. In Production order or process order, settlement against each order. So no need to create product cost collector. In production orders can can be used as a Cost object. Since production order is a cost object the costs can be settled to the cost centers or Sales orders using the process order as a cost carrying object.

In REM there is no Production order. Hence Product Cost Collectors are used.