What is item type in SAP (FIN-CS - S4HANA Financial Consolidation)?

SAP Term: item type

• Component: FIN-CS

• Component Name: S4HANA Financial Consolidation

• Description: A categorization of financial statement FS items that determines where an FS item is used within a financial statement structure. Following item types are available: Income Expense Asset Liabilities and Equity Statistical Item Reporting Item

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• Key Concepts: 
  Item type is a classification of items in SAP S4HANA Financial Consolidation. It is used to group items into categories, such as assets, liabilities, and equity. Item types are used to define the structure of the consolidation process and to ensure that all items are correctly consolidated. 
  
  How to use it: 
  In SAP S4HANA Financial Consolidation, item types are used to define the structure of the consolidation process. Each item type is assigned a specific consolidation rule, which determines how the item will be consolidated. For example, an asset item type may be consolidated using a “sum” rule, while a liability item type may be consolidated using a “subtract” rule. 
  
  Tips & Tricks: 
  When creating an item type in SAP S4HANA Financial Consolidation, it is important to ensure that the correct consolidation rule is assigned to each item type. This will ensure that all items are correctly consolidated and that the consolidation process runs smoothly. 
  
  Related Information: 
  For more information on item types in SAP S4HANA Financial Consolidation, please refer to the official SAP documentation.