In a project, you collect cost and revenues temporarily and they have to settle as part of period end processing. You need a settlement profile stored in project profile or network type, which determines whether settlement is required, allowed, or blocked.
You can use the settlement profile to define the following for actual costs −
As per the settings in the settlement profile, there is a need to settle the costs of an object in full before that object is achieved in the system.
You can maintain a settlement profile in system.
Step 1 − Use the T-code: OKO7 or navigate to SPRO → IMG → Controlling → Internal Orders → Actual Postings → Settlement → Maintain settlement profiles.
Step 2 − In the next window, select maintain settlement profiles and click Choose.
Step 3 − To create a new settlement profile, click New Entries in the Settlement profile overview window.
Step 4 − In the next window, you have to enter the following details −
Settlement profile − Enter unique ID that identifies the settlement profile in system and description.
Actual Cost/Cost of sales − To find the settlement value
Default values − Enter allocation structure and default object type field
Indicator − Select % settlement and amount settlement
Other parameters − Document type, maximum number of dist rls, residence time
Step 5 − Once you enter all the fields, click the save button at the top.