What are the various types of external transactions in SAP FICO?

Discussion RoomCategory: General QuestionWhat are the various types of external transactions in SAP FICO?
Admin Staff asked 2 weeks ago

Answer: In SAP FICO, external transactions encompass a range of financial activities involving entities outside the organization. Some key types include:

Customer Transactions:

Involves sales, accounts receivable, and customer payments.

Vendor Transactions:

Encompasses procurement, accounts payable, and vendor payments.

Bank Transactions:

Covers activities such as cash deposits, withdrawals, and reconciliations.

Asset Transactions:

Involves the acquisition, depreciation, and disposal of assets.

Tax Transactions:

Includes tax calculations, deductions, and payments to tax authorities.

Intercompany Transactions:

Deals with financial interactions between different entities within the same organization.

Loan and Financing Transactions:

Encompasses loans, interest payments, and other financing activities.

Foreign Currency Transactions:

Involves transactions conducted in currencies other than the local currency.

Expense Transactions:

Covers various operational expenses incurred by the organization.

Revenue Transactions:

Encompasses all forms of income generated by the organization.

The system determines whether a transaction belongs to ongoing payments or incoming payments based on the nature of the transaction code and associated business rules. For example, payment codes might be classified as outgoing transactions, while receipt codes are considered incoming transactions.

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