After the Controlling Area, Number Ranges, and Plan Versions have been defined and maintained, then settings for the other components in the CO(Controlling) Module should be maintained. (Cost Center Accounting, Cost Element Accounting, Activity-Based Costing, Internal Orders, Product Cost Controlling, Profitability Analysis, and Profit Center Accounting.)
The Account Assignment Logic allows configuration for Validation and Substitution Rules whose purpose is to check certain input values as defined by the User.
More specifically, Validations allow for business transactions to either post or not post documents based on the criteria defined in the validation rule. Certain input conditions are checked as defined by the User and if those conditions are met then the document(s) are updated and/or posted in the system. If the condition is not met, then an error message is generated to the User with a brief explanation of the error. These messages are defined in Configuration and can be identified as a warning, error, or a note. You also have the option to deactivate messages.
Substitutions on the other hand, checks input values and replaces the values with another value if the criteria as defined is met.
Maintaining Currency and Valuation Profiles allows for the definition of valuation approaches to be used in accounting components . These valuation profiles are checked in the system when activated in the Controlling Area. Certain rules apply if there is a need to maintain the currency and valuation profiles: (1) Company Code Currency must be assigned to a legal valuation approach, (2) Valuation approaches must also be maintain in the material ledger, and (3) Profit Center valuations can only be maintained if you are using Profit Center Accounting.
The CO(Controlling)Module has multiple configuration steps that must be followed for complete implementation of this module. Each sub-component of the CO (Controlling) Module has itís level of configuration requirements. Once you have defined your business needs in the Controlling Area, a determination can be made as to what should be configured and what you do not need.