Account Assignment Model in SAP: FKMT

Last Updated on August 3, 2022 by admin

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

Defining Default Account Assignments

After completing this lesson, you will be able to:

  • Introduce posting controls
  • Describe the account assignment settings
  • Create a default account assignment
  • Analyze the impact of the assignment during journal entry

Posting Controls

Meet Chris, an experienced management accounting employee at Bike Company SE. He's skilled at using SAP S/4HANA, having extensive knowledge of his department's processes and a comprehensive understanding of the company's operations. Apart from maintaining crucial applications that streamline work for others, Chris also acts as an administrator and business process configuration expert. He is the contact person for establishing and managing Overhead Cost Accounting processes within the company.

Chris loves discovering and utilizing new features and helping other users. Recently, Sarah, a colleague from the financial accounting department, sought his expertise for support and assistance. This is what they talked about:

Let’s now take a closer look at the tools that help streamline accounting data.

You'll learn how to define default values for cost assignment. In the next lessons, you will also delve into more sophisticated features like validation and substitution rules that can identify inconsistencies in account assignment objects and ensure precise postings.

We'll start with an in-depth exploration of the default account assignment.

Default Account Assignment

Application area.

The default account assignment is a tool that automatically proposes specific cost assignment objects, such as cost centers or profit centers during journal entry. You can determine which management accounting object is defaulted for each line item based on the combination of primary cost and revenue G/L account and company code.

As an example, consider recurring utility expenses, which should be charged to the Utilities cost center. For this purpose, a default account assignment can be established as shown in the figure below.

The figure illustrates the default account assignment in an expense journal entry. In the configuration section, a default account assignment is set up with a company code, cost element, and a cost center . When an expense journal entry is created, the system proposes the default values for the G/L account, company code, cost amount, and cost center based on the configuration. Users have the option to manually overwrite the proposed cost center if necessary.

First, the cost element for Utilities for the relevant Company Code is connected to the respective cost center in the default account assignment configuration.

Now whenever you enter a utility expense in Financial Accounting, the system automatically proposes the Utilities cost center. You still have the option to manually overwrite the cost center if necessary.

This leads to a more efficient accounting workflow, as the account assignment object is entered automatically during the posting process, minimizing the need for manual input.

Default account assignments are especially useful when line items are automatically posted, such as when posting exchange rate differences and discounts in Financial Accounting, or price differences in Material Management.

In addition to cost centers, you can also indicate profit centers or profitability segments for allocating costs and revenues to.

In summary, the default account assignment establishes a default value for the controlling objects when posting costs or revenues, ensuring that these are automatically charged to the right entities.

Configuration

To configure a default account assignment, you perform the following steps:

The screenshot displays the Manage Default Account Assignments: Change interface, which allows users to add new entries or edit existing entries. It shows a table which includes columns for Company Code, Cost Element, Cost Center, Profitability Segment and Profit Center.

  • For each cost assignment, enter the company code and the cost element that should be included in the account assignment.
  • Enter the corresponding account assignment object (cost center or profit center). If you want the system to determine a profitability segment instead, you can use the PrfSeg checkbox. This is used when transferring data, such as price differences, to Margin Analysis.
  • You have the option to specify detailed account assignments, which can be differentiated by valuation area or profit center. To do this, enter the following values in the "Acct assignmt detail" column: 1 for valuation area or 3 for profit center. Then select the corresponding entry in the Dialog structure on the left and enter the relevant cost assignment.

Define a Default Account Assignment

Overall benefits.

The default account assignment feature suggests default values for specific accounts, improving the accuracy of financial data and streamlining the process through automatic assignment. This reduces the likelihood of errors in manual data entry and saves a considerable amount of time that would otherwise be spent repeatedly assigning these costs.

Log in to track your progress & complete quizzes

IMAGES

  1. account assignment tcode in sap

    sap account assignment model tcode

  2. account assignment tcode in sap

    sap account assignment model tcode

  3. account assignment tcode in sap

    sap account assignment model tcode

  4. account assignment tcode in sap

    sap account assignment model tcode

  5. FKMT SAP Tcode : FI Account Assignment Model Management Transaction Code

    sap account assignment model tcode

  6. Account Assignment Model In SAP Part 2

    sap account assignment model tcode

VIDEO

  1. Managing Door Assignments in SAP EWM

  2. SAP MM Module (Part-12) Enterprise Structure in SAP MM Module Hindi version

  3. Configuration of Company, Company Code in SAP

  4. Document Holding and account assignment model

  5. SAP Finance Account Assignment Model Tutorial Streamlining Financial Processes

  6. 019 Account Assignment Model SAP FICO

COMMENTS

  1. Account Assignment Models

    Definition. 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.

  2. account assignment model in SAP

    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. There will be a planned 2 ...

  3. Account Assignment Model in SAP: 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. Account Assignment Model in SAP , T code > FKMT , PATH: Accounts Receivable > Document Entry --> Reference Documents > Account Assignment Model.

  4. Account assignment Tcode in SAP

    Here is a list of possible Account assignment related transaction codes in SAP. You will get more details about each transaction code by clicking on the tcode name. Account assignment Transaction Codes List. OKB9N. Tcode for CO Account Determination. Program :

  5. Account Assignment Model TCodes in SAP

    Account Assignment Model Transaction Codes in SAP (25 TCodes) TCODE Description Application; 1 : OBYC: C FI Table T030 FI - Basic Functions: 2

  6. Account Assignment Model

    You can follow this playlist for a complete end-to-end SAP FI/CO Training https://www.youtube.com/playlist?list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQThis is a c...

  7. SAP Account Assignment Tcodes

    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 ...

  8. Defining Default Account Assignments

    Application Area. The default account assignment is a tool that automatically proposes specific cost assignment objects, such as cost centers or profit centers during journal entry. You can determine which management accounting object is defaulted for each line item based on the combination of primary cost and revenue G/L account and company ...

  9. Account Assignment in SAP

    Attribution of a prepaid or a postpaid account to an item of the provider contract. It is used by the charging function and the refilling function to determine the account (s) to be credited or debited. Account Assignment in SAP - Everything you need to know about Account Assignment; definition, explanation, tcodes, tables, wiki, relevant SAP ...

  10. loading...

    Creating or Changing Account Assignment Models | SAP Help Portal. * This product version is out of mainstream maintenance. The documentation is no longer regularly updated. Favorite. To mark this page as a favorite, you need to log in with your SAP ID. If you do not have an SAP ID, you can create one for free from the login page. Download PDF.