Before you work in SAP, you need to understand SAP financial terminology.
In SAP there are three types of cost objects: Cost Center, Internal Order, and WBS (Work Breakdown Structure) Element.
Cost Center: |
General or operating accounts are known in SAP as Cost Centers. Cost Centers are budgeted on the fiscal year. |
Internal Order: |
MIT Fund Accounts may be either Internal Orders or WBS Elements in SAP. A non-sponsored Fund Account (e.g., funding from the MIT Provost) is an Internal Order. A sponsored fund account (carrying a 4-digit sponsor code, e.g., a corporate fellowship program) is a WBS Element. These cost objects are used to track expenses for a particular activity. They are not tied to the fiscal year and some receive interest income. |
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