Apr 26, 2022
•1 minute read
SAP Accounting
SAP Accounting covers the financial and management accounting capabilities built into SAP systems, primarily through SAP Financial Accounting (FI) and SAP Controlling (CO). As organizations adopt SAP S/4HANA, accounting practices are evolving with the Universal Journal as a unified ledger that consolidates external and internal accounting in real time. SAPinsider provides coverage of SAP accounting topics including period-end close, IFRS compliance, intercompany accounting and FI/CO integration.
What is SAP Accounting?
SAP Accounting refers to the financial accounting and management accounting capabilities within SAP ERP and SAP S/4HANA. SAP Financial Accounting (FI) handles external-facing transactions including the general ledger, accounts payable, accounts receivable, asset accounting and bank accounting. SAP Controlling (CO) manages internal cost accounting and profitability analysis. In SAP S/4HANA, these are unified in the SAP Universal Journal, which eliminates the need for reconciliation between FI and CO by maintaining a single source of truth for all financial postings.
What use cases does SAP Accounting address?
- General ledger and statutory reporting: Organizations use SAP FI to record all financial transactions in the general ledger and produce statutory financial statements in compliance with IFRS, GAAP and local regulatory requirements.
- Accounts payable and receivable automation: SAP Accounting automates invoice processing, payment runs and dunning, reducing manual effort and improving cash flow visibility across the enterprise.
- Cost accounting and profitability analysis: SAP CO enables organizations to track internal cost centers, profit centers and orders, supporting product costing, project accounting and management reporting.
- Period-end close acceleration: SAP Accounting processes and the Universal Journal support faster, more automated period-end close cycles, reducing reconciliation time and enabling organizations to publish financial results sooner.
What does SAPinsider research say about SAP Accounting modernization?
SAPinsider research shows that finance organizations are leveraging SAP S/4HANA Finance to accelerate accounting processes, improve audit readiness and support real-time management reporting. The move to the Universal Journal is a key architectural change that simplifies the accounting landscape for many organizations. Explore SAP accounting resources and practitioner insights at SAP Accounting.
How to Automate Complex SAP Processes in SAP ECC and SAP S/4HANAA common question for businesses is how to effectively conquer slow and error prone process of managing complicated data with SAP. Even with advanced capabilities such as the HANA database and Fiori, the processes you use to run your business continue to present challenges and human error. One-way companies are overcoming these challenges is through […]
Transformation in the Enterprise Benchmark ResearchIn This Report: Transformation is an integral part of organizational planning today. It has expanded beyond the goal of reducing legacy debt by replacing outdated hardware to cover everything from infrastructure changes to broader organizational structure and cultural changes. But what does transformation mean to the SAPinsider Community? How important is it to what they […]
Jan 31, 2022
•1 minute read
Automation in Finance Benchmark ResearchIn This Report: Organizations are investing in financial process automation with the goal of driving efficiency across end-to-end business processes to enable real-time insight. The growing availability of automation solutions from SAP and third-party vendors, provides a catalyst for SAPinsider organizations to align best practices with intelligent automation technologies, such as robotic process automation (RPA), […]
Jan 31, 2022
•1 minute read
How to Turn Lease Accounting Compliance into a Financial OpportunityThe largest expense on an organization’s income statement, other than human resources and payroll, is often lease cost, which also requires careful accounting to comply with various standards, such as ASC 842, GASB 87, and IFRS 16. While complying with these lease accounting standards can be a complex and time-consuming undertaking, it also offers an opportunity to achieve cost-saving operational efficiencies. In this webinar, you will learn how to take advantage of this opportunity with a lease accounting and management approach that helps you comply with standards while better managing your lease portfolio. You will learn:
• How to seamlessly integrate lease data with your larger technology ecosystem
• How to enable effective collaboration between real estate, operations, procurement, and accounting teams for lease contract collection and data abstraction
• Best practices gleaned from existing public company lease accounting implementations
Aug 17, 2021
•1 minute read
Accounting & Finance Expands Its InfluenceAccounting & 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 facet in accomplishing its critical objectives. Through the development of a strategic accounting & finance roadmap, UGI Utilities can better anticipate the internal and external demands of the business — from both an accounting and IT perspective.
The merging of four separate accounting functions into a single technology platform established process standardization across the organization. Implementing best practices, coupled with more dynamic processes, is also anticipated to result in cost savings.
Vivian Ressler, Senior Manager Sarbanes-Oxley, Plant Accounting and Accounts Payable for UGI Utilities, says, “Uniformity now exists through a self-service process when internal stakeholders and external customers check an account balance or reconciliation detail,” she says.
“We’re also looking for future opportunities to streamline the process further for greater enhancements and efficiencies.”
Read this article and learn:
- How technology played an essential role as UGI Utilities centralized and standardized its key financial close processes focusing on efficiency gains;
- What the merging of four separate accounting functions into a single technology platform means for UGI Utilities;
- The process for how UGI Utilities manages its SOX requirements, providing financial transparency and secure and accurate data;
- The SAP landscape of UGI Utilities and how the company integrates a partner application into its workflow processes.
Jul 30, 2021
•7 minute read
Make the move to modern accounting with BlackLine Solutions for SAPSpreadsheets, 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 SAP, to unify data and processes, automate repetitive work, and drive accountability through visibility. These solutions complement and integrate with other SAP solutions, including SAP S/4HANA and enable modern accounting.
In this session, you’ll hear from BlackLine and SAP customer UGI Corporation about:
- Why the pandemic put renewed focus on investments in technology
- How BlackLine fits in the SAP and technology ecosystem
- Top uses cases and adoption strategies to increase efficiency, reduce risk, and maximize talent development & retention
Jun 8, 2021
•1 minute read
Make the move to modern accounting with BlackLine Solutions for SAPSpreadsheets, 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 SAP, to unify data and processes, automate repetitive work, and drive accountability through visibility. These solutions complement and integrate with other SAP solutions, including SAP S/4HANA and enable modern accounting.
In this session, you’ll hear from BlackLine and SAP customer UGI Corporation about:
- Why the pandemic put renewed focus on investments in technology
- How BlackLine fits in the SAP and technology ecosystem
- Top uses cases and adoption strategies to increase efficiency, reduce risk, and maximize talent development & retention
Jun 8, 2021
•1 minute read
2021 Customer Journeys in Finance and Accounting: An executive perspective2021 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, and the use of automation to optimize core finance and accounting processes. You will also hear from SAP executive Martin Naraschewski about how SAP’s solution roadmap and strategy is evolving to support the office of the CFO in 2021 and how finance leaders are managing change and embracing innovation.
Jun 7, 2021
•1 minute read
2021 Customer Journeys in Finance and Accounting: An executive perspective2021 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, and the use of automation to optimize core finance and accounting processes. You will also hear from SAP executive Martin Naraschewski about how SAP’s solution roadmap and strategy is evolving to support the office of the CFO in 2021 and how finance leaders are managing change and embracing innovation.
Jun 7, 2021
•1 minute read
Troubleshooting FI and MM integrationPut 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 FI postings made by MM transactions and learn about key tables in this configuration
- Find out why table T030 is critical to the smooth integration of MM and FI
- Delve into the three key sources of material movement postings that affect FI-GL: deliveries, goods receipts, and plant material movements
- Find out how FI and MM activities can get out of sync and how to get them back on track
- Take home a chart of all inputs that impact MM postings and a step-by-step guide for activating goods receipt/invoice receipt (GR/IR) account user exits
May 12, 2021
•1 minute read
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