What is accounting object in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: accounting object

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: An account assignment object to which external and internal business transactions are posted in Balance Analyzer. For example, an accounting object is: A general ledger account from an external accounting system A customer current account A derivative in the bank's own position. Each accounting object contains defining characteristics.

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• Key Concepts: 
  An accounting object is a component of the SAP Financial Accounting (FI) module. It is used to store and manage financial data related to a particular transaction or activity. The accounting object is linked to the relevant accounts in the general ledger and can be used to track the flow of funds within an organization. In the case of FS-BA-PM-AFP Accounting for Financial Products, the accounting object is used to store and manage data related to financial products such as loans, investments, and insurance policies. 
  
  How to use it: 
  The accounting object is used to store and manage data related to financial products such as loans, investments, and insurance policies. It can be used to track the flow of funds within an organization and ensure that all transactions are properly accounted for. The accounting object can also be used to generate reports that provide insight into the performance of financial products over time. 
  
  Tips & Tricks: 
  When using the accounting object, it is important to ensure that all transactions are properly accounted for. This can be done by double-checking all entries and making sure that all relevant accounts are linked correctly. Additionally, it is important to regularly review reports generated from the accounting object in order to gain insight into the performance of financial products over time. 
  
  Related Information: 
  For more information on the SAP Financial Accounting (FI) module, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_FINANCIAL_ACCOUNTING/en-US