How to use OMWL - C LIFO/FIFO Global Setting

SAP Transaction Code - Details

• Transaction Code: OMWL

  Description: C LIFO/FIFO Global Setting

  Release: S/4HANA and ECC 6

• • Program: SAPMOMBD

    Screen: 400

    Authorization Object:

  • Development Package: MRY

    Package Description: Balance Sheet Valuation

    Parent Package: APPL

  • Module/Component: MM-IM-VP

    Description: Balance Sheet Valuation Procedures

Smart SAP Assistant

• SAP Tcode: OMWL - C LIFO/FIFO Global Setting

  
  Overview: 
  OMWL - C LIFO/FIFO Global Setting is a SAP transaction code used to set the global parameters for the Last In First Out (LIFO) and First In First Out (FIFO) methods of inventory valuation. This transaction code is used to define the default settings for the LIFO/FIFO methods, which are used to determine the cost of goods sold and inventory values. 
  
  Functionality: 
  The OMWL - C LIFO/FIFO Global Setting transaction code allows users to set the global parameters for the LIFO and FIFO methods of inventory valuation. This includes setting the default values for the cost of goods sold and inventory values, as well as setting the default values for the number of days that must pass before a new batch of goods is considered to be in stock. Additionally, this transaction code allows users to set the default values for the number of days that must pass before a new batch of goods is considered to be sold. 
  
  Step-by-step How to Use: 
  1. Access the OMWL - C LIFO/FIFO Global Setting transaction code by entering it into the command field in SAP. 
  2. Select “Global Settings” from the menu bar. 
  3. Enter the desired default values for cost of goods sold and inventory values, as well as the number of days that must pass before a new batch of goods is considered to be in stock or sold. 
  4. Select “Save” from the menu bar to save your changes. 
  
  Other Recommendations: 
  It is important to note that these global settings will apply to all materials in your system, so it is important to ensure that they are set correctly before using them. Additionally, it is recommended that users review their settings periodically to ensure that they are still accurate and up-to-date.