What is characteristic in SAP FI - Financial Accounting?

SAP Term: characteristic

• Component: FI

• Component Name: Financial Accounting

• Description: The smallest identifying unit in e-accounting. Characteristics enable an evaluation by your own categories also with their combination with key figures, for example, using sales, region, or currency. A specific selection of characteristics and key figures is fixed in a variant. At least the following characteristics must be defined per variant: Currency type Accounting community Accounting instance Evaluation system Fiscal year variant

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• Key Concepts: 
  A characteristic in SAP FI Financial Accounting is a feature or attribute of a master data record that can be used to classify and group data. Characteristics are used to store additional information about a master data record, such as the type of customer, the type of product, or the type of account. 
  
  How to use it: 
  Characteristics can be used to filter and sort data in reports, as well as to create custom reports. They can also be used to create custom fields in master data records. For example, a characteristic can be used to store the type of customer or the type of product. 
  
  Tips & Tricks: 
  When creating characteristics, it is important to ensure that they are properly defined and that they are consistent across all master data records. This will ensure that the data is accurately classified and grouped when creating reports. 
  
  Related Information: 
  For more information on characteristics in SAP FI Financial Accounting, please refer to the SAP Help documentation.