What is subsidiary accounting in SAP FI-LOC - Localization?

SAP Term: subsidiary accounting

• Component: FI-LOC

• Component Name: Localization

• Description: Recording of transactions in accounts outside of the general ledger that provide the details for the balance reported in a general ledger account. It is used in combination with accounting subjects to comprehensively reflect the business transactions of an enterprise.

Smart SAP Assistant

• Key Concepts: 
  Subsidiary accounting is a feature of the SAP FI-LOC Localization component that allows companies to manage their financial data in multiple currencies and languages. It enables companies to track and report financial information in different currencies, as well as to translate financial statements into different languages. 
  
  How to use it: 
  Subsidiary accounting can be used to manage financial data in multiple currencies and languages. It allows companies to track and report financial information in different currencies, as well as to translate financial statements into different languages. The feature also enables companies to set up multiple subsidiaries with their own currency and language settings. 
  
  Tips & Tricks: 
  When setting up subsidiary accounting, it is important to ensure that the correct currency and language settings are selected for each subsidiary. Additionally, it is important to ensure that the correct exchange rates are used when converting between currencies. 
  
  Related Information: 
  Subsidiary accounting is part of the SAP FI-LOC Localization component, which also includes features such as country-specific reporting, tax reporting, and legal reporting. Additionally, SAP provides a range of tools and services to help companies manage their financial data in multiple currencies and languages.