What is account model in SAP FIN-SEM-BPS - Business Planning and Simulation?

SAP Term: account model

• Component: FIN-SEM-BPS

• Component Name: Business Planning and Simulation

• Description: A type of data modeling in which every business key figure corresponds to a special characteristic account or item characteristic of the data basis. The key figure values themselves are saved in an individual, generically technical key figure. Therefore, an individual key figure within an account model contains values, which for it alone reflects no business facts. The business meaning of a key figure value for example, sales, number of employees, maintenance costs can only be determined in conjunction with the attribute of the account characteristic. A single data record in the account model is made up of the fields for classifying characteristic values for example, fiscal year, version, region, the account or item characteristic, and one field typically for two key figures amount and quantity. In this way, such a data record is extremely compact. However, considerably more data records are required for the same data volume as in the key figure model.

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• Key Concepts: 
  Account Model is a component of the Business Planning and Simulation (BPS) module in SAP. It is used to define the structure of accounts and their relationships in a company’s financial system. The account model is used to create a hierarchical structure of accounts, which can be used to store and analyze financial data. 
  
  How to use it: 
  The account model is used to define the structure of accounts in a company’s financial system. This includes defining the relationships between accounts, such as parent-child relationships, as well as defining the types of accounts that can be created. The account model also defines the rules for how data is stored in each account, such as the type of data that can be stored and how it should be formatted. 
  
  Tips & Tricks: 
  When creating an account model, it is important to consider how the data will be used. For example, if the data will be used for reporting purposes, it may be beneficial to create an account model that is easy to read and understand. Additionally, it is important to consider how the data will be accessed and manipulated, as this will determine which types of accounts should be created. 
  
  Related Information: 
  The account model is closely related to other components of the Business Planning and Simulation (BPS) module in SAP, such as the planning functions and the budgeting functions. Additionally, it is important to consider how the account model will interact with other components of SAP, such as the General Ledger or Cost Accounting modules.