What is synthetic accounting in SAP FS-LOC-RU - Localization of Banking in Russia?

SAP Term: synthetic accounting

• Component: FS-LOC-RU

• Component Name: Localization of Banking in Russia

• Description: Accounting based on synthetic accounts; 5 digit G/L account numbers called synthetic accounts.

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• Key Concepts: 
  Synthetic accounting is a feature of the FS-LOC-RU Localization of Banking in Russia component of SAP software. It allows for the creation of a single account to represent multiple accounts in the general ledger. This simplifies the accounting process and reduces the number of accounts that need to be managed.
  
  How to use it: 
  To use synthetic accounting, you must first create a synthetic account in the general ledger. This account will represent all of the accounts that are being consolidated into one. Once this is done, you can then assign transactions to this synthetic account. This will allow you to track all transactions related to the consolidated accounts in one place.
  
  Tips & Tricks: 
  When using synthetic accounting, it is important to ensure that all transactions are properly assigned to the correct synthetic account. This will help ensure that all transactions are accurately tracked and reported. Additionally, it is important to regularly review and update the synthetic accounts to ensure accuracy and compliance with regulations.
  
  Related Information: 
  For more information on synthetic accounting, please refer to SAP's documentation on FS-LOC-RU Localization of Banking in Russia. Additionally, there are many online resources available that provide additional information and tips on how to use this feature effectively.