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.

36 results

  1. 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…
  2. 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.
  3. Webinar: How Finance & Accounting Can Rise in Uncertain Times

    Finance specialists from Deloitte, EY, SAP, and BlackLine offer their expert perspectives on the new normal and the opportunities F&A teams have to adapt. Find other insightful content from BlackLine on their Vendor Showcase
  4. 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
  5. Don’t Let Uncertainty Derail Your Finance and Accounting Operations

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    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…
  6. 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…
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    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…
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    SAPinsider’s Business Continuity Track Includes Case Study on Modernized Accounting

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    “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,…
  9. 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
  10. Leaders VS Laggards: How CFOs Are Navigating The Opportunities And Challenges Of Digital Transformation

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    This white paper is hosted by SAPinsider and sponsored by WIS Executive Research Group. Digital transformation is radically changing every aspect of the business and placing greater demands on corporate leaders — nobody more so than the chief financial officer (CFO). Top finance executives are being expected to work closely with customers, seek business opportunities,…...…