You want to understand the process to post expenses on projects. You also want to analyze these postings in reports to check their impact. Finally, you have heard terms such as "universal journal", "single-source of truth", "parallel valuations", and "ledgers" and it would be good if you can understand these terms in the context of the SAP S/4HANA system.
During each financial period, as part of the normal business operation, various expenses are incurred. To post them to the general ledger, a G/L account is necessary.
If the expenses were caused by the operating business, a G/L account of the type "Primary costs or revenues" is used.
Any such posting needs to be assigned to a controlling object. In our example, costs for travel to the trade fair in Paris will be posted to the corresponding project, represented by its WBS element.
This posting will create line items in the Universal Journal (table ACDOCA).
After posting, the amount will be displayed in the relevant reports as actual costs and can be verified against the planned costs or the budget.