SAP Financial Closing Cockpit


What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

Key capabilities include:

  • Automate financial close processes and improve accuracy
  • Consolidate data from multiple SAP and non-SAP systems in a single view
  • Manage your company’s liquidity and cash flow
  • Gain insights into your company’s performance with financial reports and dashboards
  • Ability to consolidate financial data from multiple source systems.

Key Considerations for SAPinsiders  

Enhance SAP Financial Closing Cockpit functionality with third-party integrations. SAP Financial Closing Cockpit offers a wide range of features to help you streamline the financial close process. Organizations can integrate process automation with third-party providers to accelerate closing workflows and reduce closing task lists.

Confirm manual closing processes and spreadsheet utilization requirements to determine the best use cases for SAP Financial Closing Cockpit. Finance and accounting managers using SAP Financial Closing Cockpit in ECC 6.0 can also automate manual processes and collect spreadsheet information easier by creating custom-developed tables to capture tasks and information.

Accelerate closing tasks in SAP Financial Closing Cockpit with updated closing templates. Finance managers can configure the closing template in SAP Financial Closing Cockpit to update important parameters automatically based on the closing hierarchy and the critical date of the task list. As a result, SAP customers can reduce the number of variants needed to run a single scenario in various programs, which helps reduce the number of closing tasks.

939 results

  1. Configure SAP Financial Closing Cockpit to Start Close Tasks in Multiple Systems

    Reading time: 12 mins

    See improvements made to SAP Financial Closing Cockpit in Enhancement Package 3 that allow it to integrate with SAP Central Process Scheduling by Redwood and to create close tasks in... This content is available to Premium Members. Sign In Learn more about Premium Access
  2. How to Enhance Task Information in the SAP Financial Closing Cockpit in ECC 6.0

    Reading time: 12 mins

    ...Excel, or left to user memory or understanding, your period-end closing could be disrupted by errors. Key Concept The SAP Financial Closing Cockpit is a... This content is available to... This content is available to Premium Members. Sign In Learn more about Premium Access
  3. How to Use Selection Variables in SAP Financial Closing Cockpit

    Reading time: 6 mins

    Explore the use of selection variables provided by SAP Financial Closing cockpit. If used correctly in the closing process, selection variables reduce the steps of maintaining the variants in various... This content is available to Premium Members. Sign In Learn more about Premium Access
  4. Automate Task List Creation in the SAP Financial Closing Cockpit

    Reading time: 9 mins

    Many organizations now use the SAP Financial Closing Cockpit for making the period-end closing activity faster and more integrated. Organizations create a task list for each period-end closing from the... This content is available to Premium Members. Sign In Learn more about Premium Access
  5. Streamline Communications During a Period-End Closing via Email Notifications in the SAP Financial Closing Cockpit

    Reading time: 20 mins

    Learn how to enable email notifications in the SAP Financial Closing Cockpit for various scenarios, including release of a task list to have an integrated approach in period-end closing. If... This content is available to Premium Members. Sign In Learn more about Premium Access
  6. Mitigate Foreign Trade Payment Compliance Risk Using the Cockpit for Documentary Payments

    Reading time: 33 mins

    ...Payments component in SAP sales and distribution (SD). Key Concept The Cockpit for Documentary Payments provides automated financial documents to facilitate payment guarantee procedures required... This content is available to... This content is available to Premium Members. Sign In Learn more about Premium Access
  7. Accelerate Your Financial Close to Support Strategic Decision Making

    Reading time: 17 mins

    ...close, which range from transactions to analytics; --Explain how financial accounting, controlling, and planning work together to enable insight into the financial status of a company; --Define the solutions that... This content is available to Premium Members. Sign In Learn more about Premium Access
  8. Integrate Period-End Processes by Linking Custom-Developed Programs to the Closing Cockpit

    Reading time: 10 mins

    ...your custom-developed solutions to the Closing Cockpit for better integration with period-end activities to receive full reporting capabilities for executing custom-developed programs inside the Closing... This content is available to... This content is available to Premium Members. Sign In Learn more about Premium Access
  9. Cross Task List Monitoring in the SAP Closing Cockpit in ECC 6.0

    Reading time: 14 mins

    Learn how to monitor the status of various tasks from multiple task lists in the SAP Closing Cockpit with SAP ERP Central Component (ECC) 6.0. Key Concept The Closing Cockpit... This content is available to Premium Members. Sign In Learn more about Premium Access
  10. Set Up SAP Closing Cockpit for Speedier and Better-Controlled Financial Closings in 5 Steps

    Reading time: 19 mins

    See how to configure the newly updated SAP Closing Cockpit to assign individual tasks and hierarchies properly. Key Concept SAP recently redesigned its ERP-based SAP Closing Cockpit and plans to... This content is available to Premium Members. Sign In Learn more about Premium Access