Define company in SAP FICO

Definition of Company:

The smallest organizational unit for which individual financial statements can be drawn up according to the relevant commercial law.

A company can consist of one or more company codes.

All company codes within a company must use the same transaction chart of accounts and the same fiscal year breakdown. The company code currencies can be different.

A company has one local currency in which its transaction figures are recorded.

Define company

Menu Path: IMG – Enterprise Structure – Definition – Financial Accounting – Define Company

T Code : OX15

Steps:
Click ‘New Entries’
1. Enter 4 Digit Code
2. Enter name of the
Company
3. Fill the Address
4. Enter Country Code
5. Enter language
6. Enter Currency
7. SAVE the settings

Definition of Company Code:

The smallest organizational unit of Financial Accounting for which a complete self-contained set of accounts can be drawn up for purposes of external reporting.

This includes recording of all relevant transactions and generating all supporting documents required for financial statements.

The process of external reporting involves recording all relevant transactions and generating all supporting documents for financial statements such as balance sheets and profit and loss statements.

Define Company Code

Menu Path: IMG – Enterprise Structure – Definition – Financial Accounting – Edit, Copy, Delete Company Code

T Code : OX02

Steps:
Click ‘New Entries’
1. Enter 4 Digit Code
2. Enter Name of the
Company Code
3. Enter the located City
4. Enter Country Code
5. Enter Currency
6. Enter Language
7. SAVE the settings
8. Enter the Details
9. Press ‘Enter’
10.SAVE

Assign Company Code to Company
Menu Path: IMG – Enterprise Structure – Assignment – Financial Accounting – Assign Company code to Company
T Code : OX16

Steps:
1. Click ‘Position’
2. Enter Company Code
3. Enter Company
4. SAVE