What is transaction type in SAP FIN-SEM-BCS - Business Consolidation?

SAP Term: transaction type

• Component: FIN-SEM-BCS

• Component Name: Business Consolidation

• Description: A subassignment of a financial statement item. The transaction types are used to show the historical changes to items. For example, they are used to show: Changes in fixed assets, from the opening balance to the closing balance Changes in appropriations for retained earnings Changes in equity

Smart SAP Assistant

• Key Concepts: 
  Transaction type is a feature of the Business Consolidation component of SAP that allows users to define the type of transaction they are entering. This helps to ensure that the data entered is accurate and consistent. Transaction types can be used to differentiate between different types of transactions, such as sales, purchases, or transfers. 
  
  How to use it: 
  When entering a transaction in Business Consolidation, users must select a transaction type from the drop-down menu. This will ensure that the data entered is correctly categorized and can be easily identified later on. Additionally, users can create custom transaction types to better suit their needs. 
  
  Tips & Tricks: 
  When creating custom transaction types, it is important to make sure that they are descriptive and easy to understand. This will help ensure that users can quickly identify the type of transaction they are entering. Additionally, it is important to make sure that all custom transaction types are consistent across all users in order to maintain accuracy and consistency in data entry. 
  
  Related Information: 
  For more information on how to use transaction types in Business Consolidation, please refer to the SAP Help Portal or contact your local SAP support team. Additionally, there are many online resources available that provide detailed tutorials on how to use this feature.