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A Field Status Variant (FSV) is a configuration object in SAP FI that defines how field status groups are applied across company codes. It acts as a container for multiple Field Status Groups, and it determines which fields appear during document entry and how they behave. It is Created at Client Level and can be Used for Multiple Company Codes.

A Fiscal year is the accounting year used by a company to record and report financial transactions. It's the period for which financial statements like the Balance Sheet and Profit & Loss ( P&L ) are prepared.

The chart of accounts is a variant that contains the structured list and basic information of a general ledger accounts.

Overview of Controlling Module of SAP.

The Pricing Procedure in SAP MM determines how the system calculates the price of a material during purchasing or procurement.

Open items are line items in an account that are not yet cleared or offset by a corresponding transaction.

Partner Functions are roles that business partners (such as customers, vendors, or other entities) can play in a business transaction.

Credit memo is a document issued by a supplier to the customer notifying the reduction of the amount that a customer owes to the customer.

The O2C process refers to the series of steps a business takes to process customer orders, deliver products or services and receive payment.

Partial payment refers to paying only a portion of an invoice or bill, Residual payment involves paying part and leaving Balance paid later.

Validation and Substitution are functionalities used to enforce business rules and automatically modify data entered in SAP system

Accrual & Deferral is a document method that involves making provisions at the end of a month and reversing them on the first working day...

General Ledger document posting refers to the process of recording financial transactions in the G/L accurately, and it provides a basis. ..

Controlling is a module in SAP that helps Planning, Managing, Analyzing and Reporting related to Costs and profits. It is used for Internal