define account principles, valuation methods and valuation areas in sap fico

DEFINE ACCOUNT PRINCIPLES

Path : SPRO- Financial accounting(new)-Financial accounting global setting (new)-Ledgers-Parallel accounting-Define accounting principles 

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Accounting principle                       :B

Name / Description of accounting principle.: INDIAN ACCOUNTING STANDARDS

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Assignment accounting  principle to ledger groups

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Accounting principle                                   : B1

Target ledger group                         :0L

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Define valuation methods

Path: SPRO- Financial accounting (new)- General ledger accounting (new)-Periodic processing – Valuate- Define valuation methods

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Valuation method                                        : AML1

Description                                                    : FC valuation bank selling method for AML

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Document type                                             : SA                                                                                                                                                                               

Exchange rate type for debit balance      : B (bank selling rate)

Exchange rate type for credit balance     :B

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Define Valuation Areas

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Valuation area                                  : BA

Valuation method                            : AML1

Currency type                                   : Select company code currency

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Assign valuation areas and accounting principles

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Valuation area                                  : BA

Accounting principle                                   : B1

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