Experience is an outcome of continuous learning process. In this blog, i tried to demystify some of these myths for the beginners. Material Ledger and Actual Costing both should be active etc.ML is having many complex terms to understand.ML is considered to be more complex and complicated topic to understand.If we approach with this objective, it keeps us less overwhelmed in our understanding. In this blog, the approach in understanding Material Ledger is to keep it simple, that ML(Actual Costing) is another sub-ledger and the configuration mapping is required to achieve the business requirements from Inventory Valuation and reporting perspective. This blog is just an overview of Material Ledger functionality without navigating through transaction or configuration screens. We will discuss about Multiple Currencies and Valuation Approaches as we move forward. This helps to understand Material Ledger/Actual Costing in SAP quickly and seamlessly. Material Valuation and Movements throughout the Supply Chain and manufacturing cycle.Work In Process/Variance/Settlement Processes under different manufacturing scenarios.Standard Cost Estimates and related configuration/processes.It would be a good idea to have a better understanding about the Product Cost Flow which includes: It enables material inventories to be valuated in multiple currencies and allows the use of different valuation approaches. The material ledger is the basis of actual costing. The material ledger uses this data to calculate prices to valuate these materials. Material Ledger is a Tool that collects transaction data for materials whose master data is stored in material master. I tried to keep this blog as simple and brief as possible.:) This blog post for beginners in ML or for experienced Consultants in other SAP Components, to understand and navigate Material ledger (ML)-Actual Costing Functionality in SAP S/4HANA.
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