SAP Accounting


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SAP Accounting: An overview and key considerations 

What Is SAP Accounting?

SAP Accounting consists of two core modules that represent separate accounting books. SAP customers utilize SAP Financial Accounting (FI) for external reporting with financial statements and SAP Controlling (CO) for internal reporting purposes.

SAP Accounting enables organizations to deliver financial performance information necessary for effective decision-making by consolidating data from functional modules with powerful reporting tools. It is critical to ensure all aspects of an organization’s financials are integrated in a way that makes it easier for finance and accounting managers to access the information they need when they need it. SAP accounting modules are designed to make managing and reporting accounting data easier across organizations, teams, and roles, to support the generation of income statements, balance sheets, and cash flow statements.

For many organizations, SAP Accounting manages transactions across these core financial functions:

Key Considerations for SAPinsiders

SAP Accounting: An overview and key considerations 

What Is SAP Accounting?

SAP Accounting consists of two core modules that represent separate accounting books. SAP customers utilize SAP Financial Accounting (FI) for external reporting with financial statements and SAP Controlling (CO) for internal reporting purposes.

SAP Accounting enables organizations to deliver financial performance information necessary for effective decision-making by consolidating data from functional modules with powerful reporting tools. It is critical to ensure all aspects of an organization’s financials are integrated in a way that makes it easier for finance and accounting managers to access the information they need when they need it. SAP accounting modules are designed to make managing and reporting accounting data easier across organizations, teams, and roles, to support the generation of income statements, balance sheets, and cash flow statements.

For many organizations, SAP Accounting manages transactions across these core financial functions:

Key Considerations for SAPinsiders

Prioritize industry-specific and business process-related compliance needs across accounting and finance requirements. SAP Accounting is an essential component of SAP ERP that provides organizations with global processes and information to account for the new standards of accounting, while maintaining flexibility to incorporate regulatory updates. SAP Accounting solutions can help organizations effectively meet global accounting and financial reporting standards to enforce compliance.

Consider opportunities to modernize accounting workstreams and provide operational visibility across virtual teams.The transition to a fully remote working environment has caused difficulties for accounting professionals, particularly as it relates to their dependence on spreadsheets, inability to access data, limited process documentation, and daily manually intensive tasks. Organizations can automate their workflows with SAP Accounting tools, freeing them to do more optimization and customization.

Leverage SAP Accounting products to enable accounting teams to do more with less. COVID-19 variants, virtual work, supply chain disruptions, inflation concerns, and the Great Resignation, represent some of the major challenges creating uncertainty for organizations across the current operating environment. With the uncertainty of this economy, accounting is required to give more up-to-date information to make smarter decisions in real time.

35 results

  1. Accounting and finance expands influence image

    Accounting & Finance Expands Its Influence

    Reading time: 7 mins

    Accounting & Finance Expands Its Influence Across the Enterprise Utilities that are publicly traded companies are subject to various audits under the Sarbanes-Oxley (SOX) Act. Beyond recordkeeping and reporting, accounting & finance deliver an important strategic function across the enterprise. For UGI Utilities, a wholly owned subsidiary of UGI Corp., continued transformation is a key…
  2. Make the move to modern accounting with BlackLine Solutions for SAP

    Spreadsheets, disparate systems, and limited resources. In today’s uncertain economy Accounting is called to provide more real-time information and to do more with less. But their traditional manual processes are standing in the way .Many F&A leaders are using disruption as a catalyst for change. Controllers are turning to cloud technology like BlackLine’s solutions for…
  3. 2021 Customer Journeys in Finance and Accounting: An executive perspective

    2021 marks a year of recovery and optimism. Understand how finance teams are gearing up for the coming year and how they are tackling challenges and making the most out of key opportunities. In this session we will discuss the latest trends related to Finance journeys to SAP S/4HANA, the cloud, the digitization of tax,…
  4. Troubleshooting FI and MM integration

    Put an end to the perennial battle between FI and MM functional analysts over the responsibility of FI/MM integration configuration. Empower your FI team and take control of the critical configuration and integration points between these areas to ensure clean postings in General Ledger Accounting (FI-GL). You will: - Examine the fields that drive the…
  5. An International Beverage Company’s Roadmap to a Solid Foundation Using SAP Solution Extensions by BlackLine

    Reading time: 2 mins

    A large global beverage company needed to ensure its software systems were depend¬able, automated, and properly integrated to support its plans for sustained growth. With a focus on business transformation, the company decided to hone in on its record-to-report process, which included journal entries, balance sheet reconciliations, financial reporting and analytics, forecasting, and budgeting. The…
  6. Strategies to Optimize Real Estate Expenditures and Lease Accounting Processes

    Commercial real estate leased for business is one of the largest corporate expenses. It’s complex and time-consuming to manage. Plus, changes to lease accounting standards add new compliance burdens and stress to your financial reporting. This practical session will share insights and strategies to help you leverage market data, analytics and collaborative management applications that…
  7. Things to Know about Capital Accounting in SAP S/4HANA

    The changes in SAP S/4HANA covering the capital accounting area are far-reaching. SAP has greatly tightened the integration between new asset accounting and SAP General Ledger. In this session, review the changes that SAP has introduced between these 2 modules and what’s required to ensure proper alignment with the Universal Journal and the optimal ledger…
  8. Optimizing Existing Finance Data and Applications

    Reading time: 1 min

    Whether your company moves to SAP S/4HANA or maintains your current system, organizations need to clean up their financial systems and processes. Sessions in this track will help you get the most out of the features and technology you currently have so that you can generate quick wins as well as prepare for your eventual…
  9. Use Case: Process optimization with SAP Revenue Accounting and Reporting (FI-RA) for IFRS 15

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    Find out how SAP FI-RA was integrated at the automotive supplier ETAS in compliance with the requirements of the International Financial Reporting Standard 15 (IFRS 15). (PDF download, German)
  10. How Hubbell modernized global accounting processes with BlackLine

    A long-time customer of SAP and BlackLine, Hubbell Incorporated. is an international manufacturer of high quality, reliable electrical products and utility solutions for a broad range of customer and end market applications. With SAP S/4HANA up and running as its ERP, Hubbell set out to further automate its financial close processes. Hubbell optimized its processes…
  11. 6 Reasons Why People HAVEN’T Automated Their CAPEX Process in SAP

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    Capital Expenditure processes should be automated, delivering business benefits like data integrity, audit compliance and efficiency. Find other insightful content from IQX Business Solutions on their Vendor Showcase.
  12. Solution Brief: BlackLine Extends Your SAP Investment

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    BlackLine’s solutions for SAP complement any ERP environment by automating processes, strengthening controls, and streamlining core close tasks. Find other insightful content from BlackLine on their Vendor Showcase
  13. Don’t Let Uncertainty Derail Your Finance and Accounting Operations

    Reading time: 2 mins

    Interruptions in business are inevitable and are especially challenging for finance and accounting professionals, who do not like the risk associated with uncertainty. Keeping business running as usual while trying to change and adapt can be difficult even when everyone is in the office, but when teams are forced to work remotely, finance processes that…
  14. Signing joint agreement

    Introduction to SAP Joint Venture Accounting, Part II

    Reading time: 8 mins

    A joint venture (JV) is an arrangement in which two or more parties come together and agree to pool their resources for a specific task. This task can be a new project or any other business activity. In a joint venture, each partner is responsible for profits, losses, and costs associated with the venture. Joint…
  15. business partners

    An Introduction to SAP Joint Venture Accounting, Part I

    Reading time: 6 mins

    A joint venture (JV) is an arrangement in which two or more parties come together and agree to pool their resources for a specific task. This task can be a new project or any other business activity. In a joint venture, each partner is responsible for profits, losses, and costs associated with the venture. Joint…
  16. Accountant working on laptop_450

    SAPinsider’s Business Continuity Track Includes Case Study on Modernized Accounting

    Reading time: 2 mins

    “Traditional manual accounting is chaos and in the current environment it just got a lot harder,” Michael Gilmartin, Vice President, Value Architecture, at BlackLine, says. During the business continuity track as part of SAPinsider’s 2020 virtual event, Gilmartin will be joined by Molly Boyle, Finance Transformation Expert, at BlackLine and Sue Mozdzer, Finance Transformation Leader,…
  17. Man drawing flowchart . Business process concept

    Albany International Expects to Save 800 Hours of Work Annually by Automating Capital Expenditure Requests

    Reading time: 5 mins

    Streamlining financial workflows emerged as the top strategic action and the theme of SAPinsider's Streamlining Financial Processes in the Cloud research. One SAP customer, Albany International, has found some success with this strategy by automating its capital expenditure request (CER) process. This content is available to Premium Members. Sign In Learn more about Premium Access
  18. Steering Through Collaboration: CFOs Driving New Priorities For The Future

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    90% of senior finance executives believe that finance should facilitate collaborative enterprise planning to ensure that operational plans are aligned with financial and strategic plans.Download this research report to see how CFOs are executing cros This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become a Member
  19. Leaders VS Laggards: How CFOs Are Navigating The Opportunities And Challenges Of Digital Transformation

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    While developers face the challenge of developing and shipping software faster, there are also challenges to ensure the maintenance of software quality and the mitigation of risks associated with the rapid development and deployment of applications. Even This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become…
  20. Hanse Orga CEO Sven Lindemann on the Top 3 Challenges Facing the Office of the CFO

    SAPinsider’s Riz Ahmed interviewed Hanse Orga CEO Sven Lindemann at Financials 2018. Watch the video of their discussion about the top three challenges facing CFOs today…. This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become a Member... This content is available to (General or Premium) members.…
  21. An Overview of Using the Credit Facility Functionality

    Reading time: 21 mins

    Learn the process flow, the integration points with other SAP modules, and the advantages of using SAP’s Transaction Manager for credit facilities. Key Concept Most companies have credit facilities with their primary bank. SAP’s Transaction Manager module can be used to support the life cycle of credit facilities. The credit facility functionality is included in…...…
  22. CNH Industrial Cultivates Automated Account Reconciliation Landscape

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    CNH Industrial, a global capital goods corporation specializing in the manufacture of agricultural and construction equipment, along with commercial vehicles and powertrain solutions, takes pride in designing and producing machines that “keep agriculture and industry growing.” But with more than 63,000 employees, 64 manufacturing plants, and 50 research and development centers, managing financial tasks is…
  23. How to Comply with IFRS 15 Regulations Using SAP Revenue Accounting and Reporting 1.2

    Reading time: 29 mins

    Learn how to set up SAP Revenue Accounting and Reporting 1.2 in SAP ERP Central Component (ECC) 6.0 to comply with the new accounting standard regulation IFRS 15. The new regulation was jointly released by two leading accounting standard bodies: the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). Key Concept…...…
  24. Product Profitability and New Materials Ledger on SAP S/4HANA Finance

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    Live Blog Product Profitability and New Materials Ledger on SAP S/4HANA Finance Kendall Hatch: Hello, and thanks for joining us today for our live Q&A on product profitability and new materials ledger on SAP S/4HANA Finance. We’re joined by Deloitte’s Kumar T. Piraviperumal who will be with us answering questions for the next hour. Kumar…...…
  25. Clearing Open Items in SAP Systems: Best Practices for Reconciliation and Automation

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    In many finance departments, open items can pile up in the system, slowing down operations with an overabundance of unmatched transactions. These open items need to be matched and cleared as quickly as possible, but for large organizations, that can be a time-consuming and inefficient task. During a recent SAPinsider Live Q&A, this issue was…
  26. How Will the Major Changes to Lease Accounting Standards (ASC 842/IFRS 16) Affect SAP Customers?

    Reading time: 4 mins

    By 2019, every organization must change its lease accounting practices – the ASC 842/IFRS 16 regulations will require virtually all leases to be placed on the balance sheet. This change will have ripple effects throughout the organization, reaching beyond Accounting departments to impact stakeholders and investors. Therefore, businesses with any leases need to prepare for…
  27. Clearing Open Items in SAP Systems: Q&A on Best Practices for Reconciliation and Automation

    Reading time: 20 mins

    BlackLine’s Michael Gilmartin and Stephen Wolfman offer tips and best practices for reconciling open item accounts. If you missed the chat or need a refresher, you can view the chat replay or read the edited transcript below. Meet the panelists:  Michael Gilmartin, Director, Solutions Consulting, BlackLine Stephen Wolfman, Director, Product Management, BlackLine   Live Blog…...…
  28. insiderTRAINING announces 9 new sessions on Financials, Solution Manager, and BusinessObjects

    Reading time: 2 mins

    Audio pioneer Dolby Laboratories, which has been delivering audiophiles a superior sound and sight experience since the 1970s, decided in 2016 that it wanted an equally stringent level of quality assurance for its business process testing. The business sought a risk-based automated testing solution to reduce or eliminate regression test coverage gaps and lengthy testing…
  29. You Are Now a Step Closer to Real-Time Profitability in SAP S/4HANA Finance with Fewer Settlements

    Reading time: 10 mins

    Learn about a new feature in SAP S/4HANA Finance 1610 that helps you avoid a few of the settlements to Profitability Analysis (CO-PA) and yet achieve real-time updates of data to CO-PA dimensions. This is one innovation among many in account-based CO-PA. Key Concept SAP S/4HANAFinance helps you to avoid some settlements without adversely affecting…...…
  30. SAP S/4HANA Finance: Understand the Different Options and Nuances of Enabling Parallel Accounting in New Asset Accounting

    Reading time: 24 mins

    Learn about the configuration options available in SAP S/4HANA Finance to set up parallel accounting aligned to different accounting principles, especially when you are migrating from classic Asset Accounting (FI-AA), a parallel accounts approach, to the new FI-AA module. Key Concept The SAP S/4HANA Finance system provides a transparent, real-time, optimized IT solution for implementation…...…
  31. Track Intercompany Loans Using SAP’s Transaction Manager Module: Part 2

    Reading time: 49 mins

    Learn the configuration steps needed for the intercompany loans process outlined in the article “Track Intercompany Loans Using SAP’s Transaction Manager Module, Part 1.” The configuration is in line with the process described in part 1 of this article. Key Concept When companies reach a more complex size, they often need to implement financing processes…...…
  32. Track Intercompany Loans Using SAP’s Transaction Manager Module: Part I

    Reading time: 39 mins

    Learn the process flow, the integration points with other SAP modules, and the advantages of using SAP’s Transaction Manager for intercompany loans. Key Concept Intercompany loans are loans made from one business unit of a company to another, for various reasons. It is important to remember that intercompany loans are an asset (an investment) in one entity and…...…
  33. Maintain Compliance with the IFRS 15 Revenue Standard with SAP Revenue Accounting and Reporting

    Reading time: 14 mins

    Learn about the changes in the International Accounting Standard Board (IASB) and Financial Accounting Standard Board (FASB)’s International Financial Reporting Standards (IFRS) accounting standard, IFRS 15. From a functional perspective, review the prominent processes and the data accounting flow for SAP Revenue Accounting and Reporting. Discover the capabilities of SAP Revenue Accounting and Reporting and…...…
  34. Quiz: How Prepared Are You for the New Revenue Recognition Standards?

    Reading time: 3 mins

    So you think your organization is ready for the new revenue recognition standards? They are scheduled to take effect for all annual periods beginning on or after January, 1, 2018, for International Financial Reporting Standards (IFRS) preparers. Review 10 questions and answers on revenue recognition. This primer will help you determine if you really are…...…
  35. What New Mandates Mean for Multinationals in Latin America

    Reading time: 3 mins

    Audio pioneer Dolby Laboratories, which has been delivering audiophiles a superior sound and sight experience since the 1970s, decided in 2016 that it wanted an equally stringent level of quality assurance for its business process testing. The business sought a risk-based automated testing solution to reduce or eliminate regression test coverage gaps and lengthy testing…