What is reclassification in SAP EC-CS - Consolidation?

SAP Term: reclassification

• Component: EC-CS

• Component Name: Consolidation

• Description: Partial or full transfer of the value of a triggering FS item to another FS item. Another possibility is the transfer from a second FS item "from" item, which is dependent on the triggering item to a third FS item "to" item. Reclassifications can be made to different posting levels. &EXAMPLE& Portions of the inventory in an individual financial statement might be viewed as being "finished goods," whereas, from the corporate group's standpoint, they could be considered being "unfinished goods." In this case, the "finished goods" would have to be reclassified as "unfinished goods."

Smart SAP Assistant

• Key Concepts: 
  Reclassification in SAP EC-CS Consolidation is the process of changing the classification of a financial statement item from one category to another. This is done to ensure that the financial statements are accurate and up-to-date. Reclassification can be done manually or automatically, depending on the user's preference. 
  
  How to use it: 
  In order to reclassify an item in SAP EC-CS Consolidation, the user must first select the item they wish to reclassify. Then, they must select the new classification for the item from a list of available classifications. Once the new classification has been selected, the user must confirm their selection and save their changes. 
  
  Tips & Tricks: 
  When reclassifying an item in SAP EC-CS Consolidation, it is important to ensure that the new classification is appropriate for the item being reclassified. Additionally, it is important to double-check that all changes have been saved correctly before exiting the system. 
  
  Related Information: 
  For more information on reclassification in SAP EC-CS Consolidation, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.