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