What is object class in SAP CO - Controlling?

SAP Term: object class

• Component: CO

• Component Name: Controlling

• Description: The object class categorizes objects according to their business function and enables you to analyze cost flows within C ontrolling from different business perspectives. The following object classes are available: Overhead Production Investment Profitability analysis and sales While certain object types automatically belong to a particular class for example, cost centers belong to the "Overhead" class, others need to be explicitly assigned to an object class in their master record this is the case with internal orders and work breakdown structure elements, for example. In addition to the functional area, the object class is required to determine or explain certain values in the external accounting c omponents. &EXAMPLE& The balance of all objects in the Production class is categorized as Work in Process WIP.

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• Key Concepts: 
  Object classes are used in SAP Controlling (CO) to group together similar cost elements. They are used to assign cost elements to a specific cost center or cost object. Object classes are also used to assign cost elements to a specific cost element group. 
  
  How to use it: 
  Object classes can be used to assign cost elements to a specific cost center or cost object. This allows for easier tracking and reporting of costs associated with a particular cost center or cost object. Additionally, object classes can be used to assign cost elements to a specific cost element group, which can help with budgeting and forecasting. 
  
  Tips & Tricks: 
  When creating an object class, it is important to consider the purpose of the class and the types of cost elements that will be assigned to it. This will help ensure that the class is properly configured and that the assigned cost elements are accurately tracked and reported. 
  
  Related Information: 
  For more information on object classes in SAP Controlling (CO), please refer to the SAP Help Portal or contact your local SAP support team.