What is costing version in SAP CO-PC - Product Cost Controlling?

SAP Term: costing version

• Component: CO-PC

• Component Name: Product Cost Controlling

• Description: A method of distinguishing two or more cost estimates for the same material. Costing versions enable you to: Create and save multiple cost estimates for a given material without the cost estimates overwriting each other. In this case, you use the costing version without making further Customizing settings. Utilize other control parameters for costing such as transfer prices, exchange rate types for converting currencies, or quantity structure types for mixed costing without having to use a new costing variant. In this case, you specify these control parameters in the costing version in Customizing.

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• Key Concepts: 
  Costing version is a feature of SAP Product Cost Controlling (CO-PC) that allows users to create multiple versions of cost estimates for a product or material. This allows users to compare different cost estimates and make decisions based on the most accurate and up-to-date information. Costing versions can also be used to track changes in cost estimates over time. 
  
  How to use it: 
  To create a costing version, users must first define the costing type in the system. This is done by entering the costing type in the “Costing Type” field in the “Costing Version” tab of the “Product Cost Planning” screen. Once the costing type is defined, users can create a costing version by entering the version name and description in the “Costing Version” tab. The costing version can then be used to create cost estimates for materials or products. 
  
  Tips & Tricks: 
  When creating a costing version, it is important to ensure that all relevant information is included in the version name and description. This will help users quickly identify and access the correct costing version when needed. Additionally, it is important to keep track of changes made to each costing version over time, as this will help users identify which versions are most up-to-date and accurate. 
  
  Related Information: 
  For more information on SAP Product Cost Controlling (CO-PC) and how to use costing versions, please refer to SAP Help documentation or contact your local SAP support team.