Prior to making Financial Statements, we need to perform Foreign Currency Valuation for the Transaction done in Foreign Currency.
These exchanges can be charges receivables or bills payable or may be entombed organization cash moves which include G/L Accounts, Customer or Vendor.
The Line things can be opened or cleared.
For the Line things which are cleared the conversion standard would be that of the date on which it is cleared.
For Open Items which are not yet cleared the conversion scale might be considered as the ongoing rate or can be considered as month-end swapping scale and can be done as a month-to-month shutting action.
So at the year end ,there could be an income or cost because of conversion standard variances which will be reflected in the Financial Statements.Cost and Revenue Accounts for swapping scale contrasts can be kept up with in Customizing exchange code SPRO. In the SAP we can do Foreign Currency Revaluation in the accompanying way :
SAP FI tables are database objects that store financial data
in a structured format. They are crucial for generating financial reports,
performing audits, and ensuring data integrity within the SAP system. These
tables are used to store information about financial transactions, master data,
and other relevant financial details.
General Ledger Tables
BKPF - Accounting Document Header
The BKPF table is at the heart of SAP FI. It stores the
header information of accounting documents, such as document number, posting
date, and document type. This table provides a quick overview of all financial
transactions within the system.
BSEG - Accounting Document Segment
The BSEG table complements BKPF by storing the line item
details of accounting documents. It contains information about individual debit
and credit entries, including account numbers and transaction amounts.
GLT0 - G/L Account Totals
GLT0 is a table used for storing the total values of G/L
accounts over time. It helps in analyzing the balance trends of specific
SKA1 - G/L Account Master (Chart of Accounts Data)
SKA1 holds the master data for G/L accounts. It includes
essential information like account group, currency, and account description.
Accounts Payable Tables
LFA1 - Vendor Master (General Section)
LFA1 stores general information about vendors, such as
names, addresses, and contact details. It's a crucial reference point for
accounts payable processes.
LFB1 - Vendor Master (Company Code)
LFB1 is an extension of LFA1, providing vendor data specific
to individual company codes. This table ensures that payments are made
accurately according to company guidelines.
BSEG - Accounting Document Segment (Accounts Payable)
Similar to the general ledger, BSEG is used in accounts
payable to store line item details of accounting documents related to vendor
Accounts Receivable Tables
KNA1 - Customer Master (General Section)
KNA1 stores general customer information, including billing
addresses and contact details. It is essential for managing accounts
KNC1 - Customer Master (Company Code)
KNC1 extends KNA1 by providing customer data specific to
each company code, ensuring accurate invoicing and payment processing.
BSID - Accounting Document (Customer)
BSID holds line item details of accounting documents related
to customer transactions. It helps track outstanding receivables and customer
Now that we've explored these vital SAP FI tables, you should have a better understanding of their significance in managing financial data within the SAP system.
In the following screen , Enter the Following
Enter Company Code for which Foreign Currency Valuation is to be completed
Enter Evaluation Key Date
Enter Valuation Method for Exchange Rate Consideration
Enter Valuation in Currency Type ( Default is 10 : Company Code Currency)
You can sift through Valuation movement by entering suitable boundaries in the Tab Screens.
In the following screen, a rundown of G/L Accounts is produced which are chosen for the Foreign Currency Valuation by the Report SAPF100. It assesses the open things in unfamiliar money as well as unfamiliar cash monetary record accounts.
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