SAP Accounting


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

    February 19, 2021

    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

    Reading time: 0 min

    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…