SAP Accounting
Filter By
Browse By
- SAP Analytics and AI
- SAP Application Development and Integration
- All SAP Application Development and Integration
- SAP ABAP
- SAP ABAP Development Tools
- SAP ABAP Test Cockpit
- SAP API Management
- SAP BAPI
- SAP Basis
- SAP BRF
- SAP Business Application Studio
- SAP CMS
- SAP Design Studio
- SAP Development Tools
- SAP DevOps
- SAP EAI
- SAP EDI
- SAP Extension Suite
- SAP Fiori
- SAP Fiori Elements
- SAP Integration Suite
- SAP Low Code Application Development
- SAP Low Code Automation
- SAP Netweaver
- SAP Release Management
- SAP UI5
- SAP Web Application Server
- SAP Web IDE
- SAP Business Process Management
- SAP Center of Excellence
- SAP CIO
- SAP Customer Experience
- SAP Data and Data Management
- All SAP Data and Data Management
- SAP BW
- SAP BW/4HANA
- SAP Crystal Reporting
- SAP Data Archiving
- SAP Data Center
- SAP Data Governance
- SAP Data Integration
- SAP Data Migration
- SAP Data Quality
- SAP Data Services
- SAP Data Strategy
- SAP Data Visualization
- SAP Data Warehouse Cloud
- SAP DMS
- SAP Document Control
- SAP EIM
- SAP ETL
- SAP ETL Tools
- SAP HANA
- SAP HANA Administration
- SAP HANA Deployment Infrastructure
- SAP HANA Studio
- SAP Master Data
- SAP Master Data Governance
- SAP MDM
- SAP Enterprise Architect
- SAP Enterprise Asset Management
- SAP ERP
- SAP Finance
- All SAP Finance
- SAP Accounting
- SAP AR AP
- SAP Asset Accounting
- SAP Billing Systems
- SAP BPC
- SAP BRIM
- SAP Cash Management
- SAP Central Finance
- SAP Controlling
- SAP COPA
- SAP Cost Center Accounting
- SAP e-invoicing
- SAP FICO
- SAP Finance Automation
- SAP Financial Closing Cockpit
- SAP Financial Consolidation
- SAP Financial Planning
- SAP FX Risk
- SAP General Ledger
- SAP Global Tax Management
- SAP Hyperion
- SAP Order to Cash
- SAP Payment Processing
- SAP Profitability Analysis
- SAP Rebate Management
- SAP S/4HANA Finance
- SAP Universal Journal
- SAP Governance Risk and Compliance
- SAP Human Capital Management
- SAP Intelligent Technologies
- SAP Platform and Technology
- All SAP Platform and Technology
- SAP Business Technology Platform
- SAP Cloud Connector
- SAP Cloud Integration Platform
- SAP Cloud Migration
- SAP Cloud Platform
- SAP Cloud Providers
- SAP Cloud Strategy
- SAP Container Platform
- SAP Digital Asset Management
- SAP Digital Integration Hub
- SAP Digital Signature
- SAP HANA Enterprise Cloud
- SAP HEC
- SAP Hyperscalers
- SAP Infrastructure
- SAP Messaging
- SAP Smart Forms
- SAP Quality and Testing
- SAP Security
- SAP Spend Management
- SAP Supply Chain Management
- All SAP Supply Chain Management
- SAP APO
- SAP Asset Management
- SAP Business Network
- SAP Digital Manufacturing Cloud
- SAP Digital Twin
- SAP EWM
- SAP IBP
- SAP Inventory Management
- SAP Label Printing
- SAP Logistics
- SAP Manufacturing
- SAP Manufacturing Automation
- SAP MES
- SAP MII
- SAP MM
- SAP MRO
- SAP MRP
- SAP Order Management
- SAP Plant Maintenance
- SAP PLM
- SAP Production Planning
- SAP S&OP
- SAP SD
- SAP SPM
- SAP Supply Chain Planning
- SAP Track and Trace
- SAP Transportation Management
- SAP System Administration
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:
- Accounts payable/accounts receivable
- Bank accounting
- Cash journal
- Financial close
- Financial statements
- Fixed asset accounting
- General ledger
- Inventory
- Master data governance
- Multiple charts of accounts and parallel valuations
- Tax accounting.
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:
- Accounts payable/accounts receivable
- Bank accounting
- Cash journal
- Financial close
- Financial statements
- Fixed asset accounting
- General ledger
- Inventory
- Master data governance
- Multiple charts of accounts and parallel valuations
- Tax accounting.
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.
499 results
-
- Premium
Handle Partially Reclaimable VAT with Pro-Rata VAT Functionality in Your SAP System
Reading time: 27 mins
Many organizations in the EU use Value Added Tax (VAT) on certain sales. However, not all sales allow VAT charges. If you’re a company providing products that are both VAT-eligible and VAT-ineligible, how do you account for this in your system? See how to set up and customize pro-rata VAT in your SAP system. Key…...…
-
- Premium
A Simplified Approach for Consolidation of Investments
Reading time: 21 mins
Learn how to automate consolidation of investments as you use Enterprise Controlling-Consolidation (EC-CS) and Strategic Enterprise Management-Business Consolidation System (SEM-BCS) functionality to expedite your period-end close. See how you can achieve this without a full-blown implementation of the consolidation of investments component. Key Concept The consolidation of investments (COI) component comes delivered with Strategic Enterprise…...…
-
- Premium
Maintain Data Integrity by Implementing Profit Center Planning in the New General Ledger
Reading time: 8 mins
Find out how to implement profit center planning in the new General Ledger and how to transfer planning data from Cost Center Accounting and Profitability Analysis to profit centers. Key Concept For SAP ERP 5.0 and 6.0, SAP integrated Profit Center Accounting into the new General Ledger (new G/L), so the profit center planning functionality…...…
-
-
- Premium
Use Down Payment Chain Functionality to Improve Efficiency of Tracking Contractual Events
Reading time: 18 mins
Track contractual events that occur in long-term projects with the down payment chain functionality in FI. Walk through the end-to-end configuration of the functionality supported by process steps with an example. Key Concept SAP’s down payment chains functionality groups all the accounting documents that belong to one contract. It also allows you to structure the…...…
-
- Premium
How to Use SAP’s Multiple Calendar Tool for Asset Accounting to Manage Multiple Fiscal Calendars
Reading time: 10 mins
Discover how the Multiple Calendar Tool from SAP solves the requirement to create financial statements or tax values in more than one fiscal calendar. Key Concept The Multiple Calendar Tool is an add-on component to Asset Accounting that provides the required functionality to facilitate the creation of accurate financial statements for different fiscal calendars. The…...…
-
- SAP Accounting
- Premium
CNH Industrial Cultivates Automated Account Reconciliation Landscape
Reading time: 10 mins
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…
-
- SAP S/4HANA Finance
- Premium
Broad Green Pictures Produces Oscar-Worthy Financials with SAP S/4HANA
Reading time: 13 mins
Before a movie can dazzle audiences, a lot needs to happen behind the scenes – especially when it comes to financing the creation and distribution of a feature film. This was a truth that the fast-growing independent movie studio Broad Green Pictures knew all too well. The studio started with basic accounting software, but as…
-
-
- Premium
Facilitate the Data Exchange Between Headquarters and Subsidiaries with SAP In-House Cash
Reading time: 17 mins
Become familiar with the most important business configuration settings of SAP In-House Cash. Get a step-by-step introduction to how to prepare both the subsidiary systems and the in-house cash center for the key business processes of SAP In-House Cash. Understand the setup of the principal master data for SAP In-House Cash. Key Concept SAP In-House…...…
-
- Premium
Create Online Vendor Payments Using Payment Requests
Reading time: 14 mins
In the standard payment transaction F110, outgoing payments are all based on financial documents. By using online payments, you can create payments without any underlying financial document. Instead of a financial document, the basis for the online payment is a payment request. You create the payment requests with transaction FIBLAPOP and the outgoing payment with…...…
-
Technical Guide: Add Currencies using S/4HANA Finance 1809
Reading time: 10 mins
Traditionally, once you have gone live in a production system, the SAP system gives you a warning message (Figure 1) when you try to add a currency in the ledgers definition, and you then need SAP System Landscape Optimization (SLO) service for such a change in your currency setup. Figure 1 – Issue when adding…
Featured Insiders
-
Carles Lamas Martinez
Partner, CUVIV Business Services SL
-
Marc Auro
Managing Director, CUVIV UK
Become a Member
Unlimited access to thousands of resources for SAP-specific expertise that can only be found here.
Upcoming Events
Related Vendors
Your request has been successfully sent