Set Up Cost Accounting Using Quick Setup

You can set up cost accounting to get a simple structure in place to create cost accounting distributions and accounting entries for the inventory and maintenance transactions.

The steps to set up the cost accounting using Quick Setup are:

1. In the Setup and Maintenance work area, select the Manufacturing and Supply Chain Materials Management offering.

2. Click Setup.

3. Click the Quick Setup icon in the Cost Accounting functional area.

4. On the Configure Cost Accounting Using Quick Setup page, click the Query by Example icon. In the Profit Center Business Unit column, search for the business unit that you set up as the profit center business unit for the maintenance organization. The search result displays the row with the specific profit center business unit.

5. In the row, select from or enter values for the following fields:

   • Cost Organization Code

   • Cost Organization Name

   • Cost Method

6. Select the row and click Implement.

7. Click Yes in the message dialog box to continue.

8. In the message dialog box confirming the implementation, click OK.

9. In the Implementation Details region, click the Setup Tasks tab to verify that the setup is successful.

10. Click Done.

This setup results in the following starting points in the cost management business processes:

• All prerequisite setups to start the cost planning process.

• All prerequisite setups completed to start the cost processing of inventory transactions. The users can configure the Create Cost Accounting Distributions Run Control, open the cost accounting period, and begin processing.

The following tasks are created when the cost accounting setup is implemented successfully:

• Manage Cost Organization

• Manage Cost Book

• Manage Cost Organization Relationship

• Manage Cost Element

• Manage Cost Component

• Manage Cost Component Mapping

• Manage Valuation Structures

• Manage Cost Profiles

• Manage Default Cost Profiles