What is item type in SAP (FIN-SEM-BCS - Business Consolidation)?

SAP Term: item type

• Component: FIN-SEM-BCS

• Component Name: Business Consolidation

• Description: The type of financial statement item within a chart of accounts. The following item types exist: Balance sheet Income statement Statistical: balance Statistical: flow

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• Key Concepts: 
  Item type is a term used in SAP Business Consolidation (FIN-SEM-BCS) to refer to the type of data that is stored in a consolidation item. It is used to classify the data and determine how it should be processed. The item type can be either a value, a formula, or a text. 
  
  How to use it: 
  In order to use item types, you must first define the item types in the consolidation system. This can be done by going to the “Define Item Types” tab in the consolidation system. Once the item types have been defined, they can be assigned to individual items in the consolidation system. This can be done by selecting the item type from the drop-down menu when creating or editing an item. 
  
  Tips & Tricks: 
  When assigning an item type to an item, it is important to make sure that the item type is appropriate for the data that is being stored in the item. For example, if you are storing numerical values in an item, then you should assign it an “Value” item type. 
  
  Related Information: 
  For more information on how to use item types in SAP Business Consolidation (FIN-SEM-BCS), please refer to the official SAP documentation.