Controlling - (CO) SAP Module Used to provide profit and loss reports for each
department, to process assets under construction and used by departments to process
information to internal orders.
Financial Accounting - (FI) SAP module used to record all financial transactions by
G/L Account within Business Area. Used to process journal entries, Accounts Payable
and Asset Management.
Funds Management - (FM) SAP Module Used to provide budget/actual reports, open
encumbrances, process manual funds reservations for departmental reporting.
|General Ledger||=||Cost Element||=||Commitment Item|
|Cost Center||=||Cost Center||=||Fund Center|
Cost Element is the lowest coding object for recording transactions in the Controlling area.
General Ledger The module that stores information used in producing the balance sheet
and operating financial statements of the Institute.
Commitment Item A grouping of like G/L accounts. Commitment items are used to
store and maintain budgets, actual and commitments.
Fund Center A structure in the funds management module that shows the responsibility
for managing the application of funds associated with it. It is also used to budget and
perform budget availability checking.
Cost Center A structure in the controlling module that is used to track costs on a fiscal
year basis. A cost center may be a unit within a department, lab or center or distinguished
by its area of responsibility, location or accounting method.
Fund A fund is associated with donors or sponsors and with the fund center which has
the responsibility for application of the funds.
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