SAP Glossary with MIT Equivalents

MIT Term, MIT Definition, SAP Term, SAP Definition. General Account (Balance ... A fund account begins with the numbers 2, 3, or 4. The range 20000-29999 is ... SAPGlossarywithMITEquivalents Theinformationcontainedinthistablecomesfromapresentationtothe AdministrativeAdvisoryCommitteeForumonFebruary29,1996byKipWarren,amemberoftheManagementReporting/FinancialOperationsTeam. AccountTypes MITTermMITDefinitionSAPTermSAPDefinition GeneralAccount (BalanceSheet)AgeneralaccountisusedbyMITforoperatingbudgetfundedactivitiesandiscontainedintherange10000-13799GeneralLedgerAccountRevenue,expenseandother"accounts"similartoMITobjectcodesandbalancesheetaccountsarestructuredinthegeneralledger. GeneralAccount (Operating)AgeneralaccountisusedbyMITforoperatingbudgetfundedactivitiesandiscontainedintherange13800-19999.CostCenterAcostcenterisaunitordepartmentwithinanorganization,oramajoractivity,orsub-unitwithinaunitordepartmentdistinguishedbyitsareaofresponsibility,location,oraccountingmethods.CostcentersareusedinSAPtorecordcostsbyfiscalyearperiods.Oneormorecostcentersmaybefundedfromafundsource/fundcenter. FundAccountAfundaccountisusuallyestablishedasaresultofdonationorgiftsfromindividuals,companies,foundations,etc.Afundaccountbeginswiththenumbers2,3,or4.Therange20000-29999isforcurrentfunds;therange30000-49999isforinvestedfunds.InternalOrderandFundSource/FundCenterInternalordersareusedinSAPtorecordcostsoverperiodsthatspanoneormorefiscalyears.Oneormoreinternalordersmaybefundedfromafundsource/fundcentercombination.Internalorderswillbeusedforfundaccountsandforself-fundedactivitiessuchasconferences,etc. Research(OSP)AccountAnOSPaccountiscreatedwhenaresearchawardisreceived.AnOSPaccountbeginswiththenumbers5,6,7,8,or9.Insomecircumstancesaresearchawardmayalsobeassignedafundaccountnumber.ProjectWorkBreakdownStructureElementAworkbreakdownstructureelementisanindividualelementintheprojectworkbreakdownstructure(WBS)whichisusedtotrackprojectinformationinSAP.ProjectelementsaresimilartoOSPaccountsbutcanalsobeusedformanagingprojecttasksandactivities.Relationshipssuchasparent,child,andfromaccount,toaccountcanallbemodeledintheWBSofaproject.Thebudgetforaprojectisstoredinafundcenter. ParentAccountThehighestlevelaccountwithinanaccounthierarchyorranking.ThismechanismallowsanunlimitednumberofaccountstobeaddedtoanInformationalSummaryStatementunderaparentaccountnumber.ParentElementinWorkBreakdownStructureIntheSAPProjectSystem(PS),individualworkbreakdownstructureelementswithinaprojectareorganizedintoahierarchy.Eachhigherlevelelementcanactasaparentelement. ChildAccountAsubsidiaryorsubordinateaccountwithinanaccounthierarchyorranking.ChildElementinWorkBreakdownStructureIntheSAPProjectSystem(PS),individualworkbreakdownstructureelementswithinaprojectareorganizedintoahierarchy.Eachlowerlevelelementactsasachildofahigherelement. PredecessorAccount(FromAccount)Thepreviousaccountinasequenceofaccounts,whereeachentityrepresentsadiscretebudgetperiodwithinalargerframework,oftencalledaprojectperiod.Costsoriginallyintendedforapredecessoraccountmaybeautomaticallyforwardedtothecontinuationaccountwheresuchforwardingisdictatedbythereceiptdateofthecostinquestion.ProjectWorkBreakdownStructureElementIntheSAPProjectSystem(PS),individualworkbreakdownstructureelementswithinaprojectareorganizedintoahierarchy.Aworkbreakdownelementatthesamelevelasapreviousworkbreakdownelementcanbeusedasapredecessorelement. ContinuationAccount(ToAccount)A"follow-on"accountinasequenceofaccounts,whereeachentityrepresentsadiscretebudgetperiodwithinalargerframeworkoftencalledaprojectperiod.Thisistheaccountnumbertowhichprojectcostswillcontinuewhentheoriginalaccountnumberisterminated.Costsoriginallyintendedforaparticularaccountmaybeautomaticallyforwardedtoitscontinuationaccountwheresuchforwardingisdictatedbythereceiptdateofthecostinquestion.ProjectWorkBreakdownStructureElementIntheSAPProjectSystem(PS),individualworkbreakdownstructureelementswithinaprojectareorganizedintoahierarchy.Aworkbreakdownelementatthesamelevelasapreviousworkbreakdownelementcanbeusedasacontinuationelement. FabricatedEquipmentAccountAchildaccountforfabricatedequipmentcanbeestablishedbyOSPforthepurposeofcollectingthenon-salarycostsoffabricationandexcludingthemfromtheapplicationofindirectcosts.Salarycostsdo,however,bearindirectcostsintheappropriateaccount.ProjectWorkBreakdownStructureElementAprojectworkbreakdownstructureelementwhichisnotsubjecttooverheadcanbecreatedwithintheprojecthierarchyforuseasafabricatedequipmentaccount. AuthorizedTotalTheavailablemaximumbudgetforaparticularproject.ProjectBudgetorFundCenterBudgetThebudgetistheamountapprovedforfundingthecostsofacostingunitsuchasaninternalorder,costcenter,orproject.Thebudgetdiffersfromtheplaninthatitisformallyapproved. DepartmentNumberA6-digitnumberthatidentifieseachMITdepartment.ThefirsttwodigitsrepresenttheSchool.ThesecondtwodigitsarefortheDepartment.Thelasttwodigitsmaybeusedforsub-departmentallocation.CostCenterHierarchyNodeorProfitCenterInSAP,allcostcentersmustbeassociatedwithanodeinthestandardcostcenterhierarchy.Thisnoderepresentsthedepartmentwhichhasresponsibilityforthecostcentersassociatedwithit.AprofitcenterstructureisusedinSAPtosupportareaswhichhaveresponsibilityforprofits.Costcenters,ordersandprojectsmaybeassociatedwiththeprofitcenterwhichhasresponsibilityforthem.Thus,profitcenterscanalsobeusedtoreflectdepartments,labsandcenters. ObjectCodeA3-digitcodeusedtoclassifyandreportonrevenue,expense,andotherfinancialtransactionsprocessedbytheaccountingsystem.Theyareusedwithaccountnumberswhenprocessingarequisition,purchaseorder,invoice,andB,M,X,Yvouchers,etc.GeneralLedgerAccountRevenue,expenseandother"accounts"similartoMITobjectcodesandbalancesheetaccountsarestructuredinthegeneralledger. AccountData CommitmentExpectedfutureexpenseresultingfromcontractualobligations.PurchaseOrderCommitmentsappearinaggregateontheMonthlyStatementproducedforeachMITaccountandtheireffect,alongwiththeeffectofothercommitments,isreflectedintotalintheuncommittedbalance.PurchaseOrderCommitmentsarealsolistedintheDetailedTransactionsReport.OpenItemsandCommitmentsInSAP,commitmentsarecreatedwhenacommitmentdocument(requisition,purchaseorder,manualreservations,etc.)iscreated.IntheControllingmodule,commitmentsarecalledopenitems.CommitmentsarereducedfrombudgetsinFundsManagement. InvoiceInvoicesarrivingatP.O.Box69aresortedbycategory.Invoicesunderalaboratoryorotherpurchasingagencyprefixwillbesenttothedesignatedareathathasbeenassignedforfurtherprocessing.Invoicesof$500andover,andinvoiceswithablanketordercodearemailedtothedepartmentforfurtherprocessing.Invoicesthatareassociatedwithablanketordernumberarecheckedbythedepartmenttoinsurethattheperiodofperformanceisthesameasspelledoutonthepurchaseorder.IncomingInvoicesIncomingvendorinvoicesconnectedwithpurchaseorderscanbepostedthroughthePurchasingmoduleinSAPandverifiedon-line. RequestforPayment(YellowVoucher)Thisformmaybeusedforreimbursementforservicesorformaterialitemsintheabsenceofapurchaseorder,orforadvancepaymentsagainstapurchaseorder.Itcanbeusedformiscellaneouspaymentssuchasstamps,honoraria,lecturefees,subscriptions,publicationsandreimbursementformeals.Receiptsshouldbeattachedasproofofpayment.IncomingInvoicesIncominginvoiceswithoutpurchaseorderscanbepostedthroughtheAccountsPayablemoduleandverifiedon-line. Voucher(BorM)Theseareusedtorecordoriginalchargesfromoneaccounttoanother.JournalEntryJournalentriesarepostedtotheGeneralLedger,ControllingandFundsManagementmodulesinSAP. Voucher(XorY)Theseareusedtomaketransfersoradjustmentstocorrectoriginalcharges.JournalEntrySAPallowsautomaticreversalofjournalentries.Anentrycanthenbepostedforcorrection. MonthlyStatementThisfinancialreportisissuedmonthlyforeveryMITaccount.ItisusedbyaccountsupervisorsandotherstomonitorexpendituresandaccountbalancesandtootherwisemanageMITaccounts.ControllingInformationSystemorFundsManagementInformationSystemEachmoduleinSAPallowsavarietyofreports.Typicalreportsusedformonthlystatementswouldshowcomparisonsofactualcostsandopenitems(commitments)withplansorbudgets.Thesereportsmayberunon-linewheneverneededbytheuserandprintedonalocalprinter. DetailTransactionReportThisisarecordofeverychargemadetoanaccountduringaperiod.Withinanaccountthechargesaregroupedaccordingtoobjectcodenumbers.Drill-downCapabilitySAPallowsausertoclickonlinesinsummaryreportsand"drill-down"tothedetailsthatconstitutethesummarylineitem.Ausercandrilldownallthewaytoadetaildocumentsupportingalineiteminareport. Lastmodified:4/2/96byRobertMurray([email protected])