Author: David Schenz

Configuring Lockbox for Cash Application in SAP FICO

The United States, unlike much of the world, still relies heavily on paper checks for payments. In order to facilitate internal control and to streamline processing, many companies utilize a lockbox service at a bank. In this article, we’ll examine the process flow for cash application via lockbox, discuss a few keys to success, and […]

Performing GL Conversions Correctly (part II)

In my previous post, I discussed the basic process for performing GL conversion. In this post, we’ll turn it up a notch and explore the basic journal entry flow as well as examine a few cases of how to handle subledger accounts such as the AP and AR reconciliation accounts. Journal Entry Flow One of the defining features […]

Performing GL Conversions Correctly (part I)

GL Conversion Process (ETL)

It amazes me that GL conversions go so wrong so often. The recipe is straightforward and if the legacy data is good enough, there is rarely an excuse to have trouble during GL conversions. Yet, I’ve seen quite a few go off track. So in this series of posts, I’d like to talk about the […]

SAP Fixed Assets Organization Structure

Asset Balances By Class (Excel)

The SAP fixed assets (FI-FA) module has a unique organization structure to enable accurate reporting for multiple purposes. First, each asset must be valued properly for financial reporting purposes. If multiple standards are being used, such as US GAAP and IFRS, then each of these values must be tracked. Second, assets must be valued properly […]

Currencies in SAP FI

Currency Types in SAP FI

Understanding currency types in SAP FI is critical for both users and consultants. If a user does not understand the currency types, then they will book entries wrong. If the consultant does not understand them, then serious valuation problems can result. Consider the following: We have a Mexico affiliate of a US corporation that is […]