FAIS SAP Section

company code

Code represents an independent legal accounting unit

cost center

a cost collector, Unit within a company distinguished by area or responsibility, location, or activity related aspects.

drill down

the action of allowing the user to reveal the underlying data that comprises a transaction

transaction codes

are shortcuts to begin a function in one step

chart of accounts

A complete list of all the accounts in the General Ledger. Each company code must be assigned one, and only one

general ledger

A report that contains the balances in each individual account It is the primary report that drives the financial statements

primary costs

Originate in the General Ledger within FI

compact document journal

This report contains a historical listing of all the entries prepared chronologically by date

secondary costs

Used exclusively in CO for allocations and settlements.

cost elements

Used to categorize costs

subsidiary ledger

a group of similar accounts whose combined balances equal the balance in a specific ledger account

audit trail

an 'electronic' trail that gives a step by step documented history of a transaction. It enables an examiner to trace the financial data from general ledger to the source document (invoice, receipt, voucher, etc.).

controlling

concerned with tracking costs and revenues for internal reporting that is intended to help management control costs and revenues and assess the profitability of various products and market segments.

financial accounting

concerned with tracking the financial impacts of processes with the primary goal of meeting legal and regulatory reporting requirements

reconciliation account

general ledger accounts that consolidate data from a group of related subsidiary ledger accounts Also called "Master Account", they comprise the summary of all customer and vendor credit transactions

controlling area

identifies a self-contained, organizational element for which the management of costs and profits can be performed

client

the highest organizational unit for a business. It is the database for GBI