does we use cost element for settlement or even create CE for settlement?

[Former Member]

Hi Guru,

suppose implementation is going on and fico has been completed their configuration on the behalf of PS need to create separate cost element at the time of settlement configuration as allocation structure.

Revenue cost element group (cost element data inccured) = is it created by fico consultant or PS?

Expense cost element group (cost element data inccured) = is it created by fico consultant or PS?

Secondary cost element group (cost element data inccured) = is it created by fico consultant or PS?

means where we get option for cost element in spro sap ps. as then PS is responsible for that or fico is responsible for the same?

Regards,

aryan

[Former Member]

Others have already pointed whose duty is to create and maintain cost elements.

I would just like to stress the point that, creation of cost element is very important decision and it should be taken very carefully. The reason, once a cost element is created and if postings happen, it is almost impossible to delete that cost element.

Even creation of cost element on DEV or QA enviornment should not be done without consulting FICO consultant.

Regards,

Mahendra

[MohanDesai]

Hi Aryan,

We can use Cost Element for Settlement as well we can create Cost Element for Settlement.

Basically there are two types of Cost Elements;

1.     Primary Cost Element which refers to a G/L and triggers FI Accounting

2.     Secondary Cost Element for settlement to receivers which is for internal accounting.

Again there will be cost element category 21 is for Internal Settlement which is secondary cost element and cost element category 22 is for External Settlement which will be primary cost element.

When we say settlement, we can settle the costs to internal cost objects(ex:the WBS can be settled to the highest level WBS)  or to external cost objects(Cost Center/Profitability Segment)

Its essentially part of FICO component. Please discuss with your FI guy on this. I strongly feel PS consultants should know at least some key features of Settlement or even COPA.

Regards,

MRD

[Former Member]

Hi,

If you are interested which cost elements are grouped together as Revenue Cost Element Group and other groups also, use tac - KAH3, which will display indvidual cost elements set up for that group.

Regards,

Sudhakar

[sanjeevc]

HI Aryan,

Yes you don't need to create any cost element and group as well generally it's part of fico consultant.

When you configure PS module you will get all option you need to select as your requirement only master data of fico. as Gokul said in earliest post.

Regards,

Sanjeev

[Former Member]

Hi Aryan,

All the activities that you have mentioned above are prime responsibilities of the FICO Consultant. All these are part of the master data configuration from the FICO perspective.

Dont worry. Ask your FICO guy to configure all these things.

Regards,

Gokul

[Former Member]

CO module will create all cost element groups.