What is OKTMO in SAP FI - Financial Accounting?

SAP Term: OKTMO

• Component: FI

• Component Name: Financial Accounting

• Description: Abbreviation in Russian for the Russian Classification of Territories of Municipal Formations Russian national register of the municipal divisions responsible for local self-government, including the divisions' unique numerical codes required for financial reporting.

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• Key Concepts: 
  OKTMO stands for the Russian Classification of Territorial Units for Statistical Purposes. It is a hierarchical system of administrative divisions used in Russia to classify and identify different areas. It is used in the FI Financial Accounting component of SAP to identify the location of a company or organization. 
  
  How to use it: 
  In SAP, OKTMO is used to identify the location of a company or organization. This information is used to generate reports and analyze data related to the company’s financial activities. To use OKTMO, you must enter the appropriate code for the location in the relevant field in SAP. 
  
  Tips & Tricks: 
  When entering an OKTMO code into SAP, make sure that you enter it correctly. If you enter an incorrect code, it may lead to inaccurate reports and analysis. 
  
  Related Information: 
  OKTMO is part of the Russian Classification of Territorial Units for Statistical Purposes (RCTU). This system is used in many countries around the world to classify and identify different areas. It is also used in other components of SAP, such as HR Human Resources and MM Materials Management.