What is item reconciliation in SAP (FS-PER - SAP Profitability and Performance Management)?

SAP Term: item reconciliation

• Component: FS-PER

• Component Name: SAP Profitability and Performance Management

• Description: Function to define reconciliation mappings to ensure data completeness between applications

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• Key Concepts: 
  Item reconciliation is a process in SAP Profitability and Performance Management (FS-PER) that allows users to compare the actual costs of an item with the expected costs. This process helps to identify discrepancies between the two and can be used to adjust the budget accordingly. 
  
  How to use it: 
  To use item reconciliation, users must first enter the expected costs of an item into the system. This can be done by entering the cost information manually or by importing it from an external source. Once the expected costs have been entered, users can then compare them to the actual costs of the item. Any discrepancies between the two will be highlighted and can be adjusted accordingly. 
  
  Tips & Tricks: 
  When using item reconciliation, it is important to ensure that all of the expected costs are entered accurately. This will help to ensure that any discrepancies between the actual and expected costs are identified quickly and accurately. Additionally, it is important to regularly review and update the expected costs as they may change over time. 
  
  Related Information: 
  Item reconciliation is a key component of SAP Profitability and Performance Management (FS-PER). It is used to help identify discrepancies between actual and expected costs, which can then be used to adjust budgets accordingly. Additionally, item reconciliation can also be used to track changes in cost over time.