What is hierarchy version in SAP FI-GL - General Ledger Accounting?

SAP Term: hierarchy version

• Component: FI-GL

• Component Name: General Ledger Accounting

• Description: A variant that is based on a standard derivation hierarchy but that, in contrast to the related standard derivation hierarchy, does not contain the object types that are not required for the reorganization. A standard derivation hierarchy can have various hierarchy versions. Once a hierarchy version is used in a reorganization plan, no further changes may be made to that derivation hierarchy. Instead, it is necessary to create a new hierarchy version.

Smart SAP Assistant

• Key Concepts: 
  Hierarchy version is a feature in SAP FI-GL General Ledger Accounting that allows users to create multiple versions of the same hierarchy. This allows users to compare different versions of the same hierarchy and make changes as needed. The hierarchy version also allows users to store different versions of the same hierarchy for future reference.
  
  How to use it: 
  To use the hierarchy version feature, users must first create a new version of the hierarchy. This can be done by selecting the “Create Version” option from the menu. Once the new version is created, users can then make changes to it as needed. Once all changes have been made, users can save the new version and it will be stored in the system for future reference.
  
  Tips & Tricks: 
  When creating a new version of a hierarchy, it is important to give it a descriptive name so that it can be easily identified in the future. Additionally, it is important to save all changes made to the new version before exiting out of the system. This will ensure that all changes are saved and can be accessed in the future.
  
  Related Information: 
  The hierarchy version feature is closely related to other features in SAP FI-GL General Ledger Accounting such as account groups and cost elements. It is important to understand how these features work together in order to effectively use the hierarchy version feature. Additionally, understanding how hierarchies are structured and how they are used in SAP FI-GL General Ledger Accounting is also important for effective use of this feature.