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FI Glossary

SAP Term Definition
Application of Funds Identifies the name of the fund and its beginning and ending dates. Is a part of the fund master record. (FM)
Budget Versions Different budget scenarios by which budgeted and actual data can be viewed. (FM)
Business Area Level at which a company will generate balance sheets and income statements.
Commitment Item A grouping of likeG/L accounts. Commitment items are used to store and maintain budgets Example: postage. (FM Module)
Consumables Items which are purchased and then consumed by a grant as opposed to being stocked in stores. (MM)
Customer Invoice Represents revenue billed for the grant. 
Document Proof of business transaction.
Document Type Key that distinguishes the business transactions to be posted. The document type determines where the document is stored as well as the account types to be posted. See document types and number ranges.
Drill-down Capability SAP allows a user to click on lines in summary reports and "drill-Down" to the details that constitute the summary line item. A user can drill down all the way to a detail document supporting a line item in a report.
Financial Accounting (FI) General Ledger.
Fund A source of funds. The fund identifies the sponsor and with the application of funds, allows for inception to date reporting and overall budgeting. (FM)
Funds Center A funds center represents the number assigned to a grant. (FM module).
Funds Management (FM) SAP Module includes budgeting, encumbrance accounting, grant accounting, and departmental reporting.
General Ledger Account Revenue, expense and other "accounts" . Object codes and balance sheet accounts are structured in the general ledger.
General Ledger Posting Journal entries are posted directly to the FI Module, and indirectly to the Controlling and Funds Management modules in SAP.
Incoming Invoices – Purchase orders Incoming vendor invoices connected with purchase orders can be posted through the Purchasing module in SAP and verified on-line.
Incoming Invoices – Payable Accounting Incoming Invoices without purchase orders can be posted through the Accounts Payable module and verified on-line.
Incoming Payment (AR) Records receipt of cash while reducing Accounts Receivable from customer.
Material Master Created for each stock material or repetitively ordered items. Material masters contain information defining various attributes of the item. (MM)
Materials Management (MM) SAP module includes Procurement, Inventory management and Warehousing. (MM)
Movement Type A way in which materials move into and out of the warehouse (e.g. goods receipt, goods issue). (MM)
Open Items and Commitments In SAP, commitments are created when a commitment document (requisition, purchase order, manual reservations, etc.) is created. Commitments are reduced from budgets in Funds Management. (FM Module)
Posting Key A two-digit numeric key that controls the entry ofdocument line items. It specifies the following for example: 

-account type

-debit posting or credit posting

-layout of entry screens

Purchasing Group Can represent a specific buyer or group of buyers. 
Vendor Master Equivalent to our current vendor table but with much more data/information.
















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