What is 'accrual' in SAP LO-CMM - Commodity Management in Logistics?

accrual - Overview

• Component: LO-CMM

• Component Name: Commodity Management in Logistics

• Description: Commodity Management in Logistik In commercial accounting, a step in period-end closing that enables you to assign values from profit and loss calculation and from financial statements to the correct accounting period for example fiscal year, quarter, month.

accrual - Details

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  Key Concepts: 
  Accrual is a term used in SAP Logistics Commodity Management (LO-CMM) to refer to the process of recognizing revenue or expenses that have been incurred but not yet paid. This process is used to ensure that the financial statements accurately reflect the company's financial position. Accrual accounting is based on the concept of matching revenues and expenses in the same period. 
  
  How to use it: 
  In SAP Logistics Commodity Management, accrual is used to recognize revenue or expenses that have been incurred but not yet paid. This process is used to ensure that the financial statements accurately reflect the company's financial position. Accrual accounting is based on the concept of matching revenues and expenses in the same period. To use accrual, companies must record all transactions in their general ledger and then adjust them for any accruals or deferrals. 
  
  Tips & Tricks: 
  When using accrual in SAP Logistics Commodity Management, it is important to ensure that all transactions are recorded accurately and completely in the general ledger. Additionally, it is important to ensure that all accruals and deferrals are properly accounted for in order to ensure accurate financial statements. 
  
  Related Information: 
  Accrual accounting is a key component of Generally Accepted Accounting Principles (GAAP). Additionally, accrual accounting is used by many companies to ensure accurate financial statements and comply with regulatory requirements. For more