What is periodic extract in SAP (FI-LC - Consolidation)?

SAP Term: periodic extract

• Component: FI-LC

• Component Name: Consolidation

• Description: A data transfer method that updates the totals records of the consolidation staging ledger with each general ledger-related business transaction. At regular intervals, the data is earmarked for an extract and imported into the consolidation processing ledger.

Smart SAP Assistant

• Key Concepts: 
  Periodic extract is a feature of the FI-LC Consolidation component of SAP. It allows users to extract data from the system at regular intervals, such as monthly or quarterly. This data can then be used for reporting and analysis purposes. 
  
  How to use it: 
  To use periodic extract, users must first define the data they want to extract. This can be done by selecting the fields they want to include in the extract and setting up a schedule for when the extract should be run. Once this is done, the periodic extract will run automatically at the specified intervals. 
  
  Tips & Tricks: 
  When setting up a periodic extract, it is important to ensure that all of the necessary fields are included in the extract. This will ensure that all of the relevant data is captured and can be used for reporting and analysis purposes. Additionally, it is important to ensure that the schedule for running the periodic extract is set up correctly so that it runs at the desired intervals. 
  
  Related Information: 
  For more information on how to use periodic extract in SAP FI-LC Consolidation, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide tutorials and tips on how to use this feature effectively.