The Universal Journal: Facilitating Continuous Accounting with One Source of the Truth

The Universal Journal: Facilitating Continuous Accounting with One Source of the Truth

The Universal Journal is one of the key innovations that was introduced with SAP S/4HANA Finance. It contains not only financial and controlling information in one table, but also operational data originating from logistics processes, which facilitates collaboration between finance and other areas of the organization. This groundbreaking approach allows for real-time access to information without the need to wait until the completion of the period-end close. It also enables the personalization of real-time analysis of financial data and financial statements for each business user for statutory and management reporting.

In this session, you will:
• Understand how the Universal Journal is one source of the truth, which enables the concept of continuous accounting
• Learn how the Universal Journal in SAP S/4HANA Finance differs from the table structure of the SAP General Ledger in SAP ECC, while still retaining the logic of financial processes and postings
• See the flexibility of the user interface and the personalization available for each business user to customize analytics and drill-down through dimensions
• Explore the migration paths available to move from SAP ECC to the Universal Journal in SAP S/4HANA Finance

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