Jan 31, 2022
•1 minute read
SAP Financial Consolidation
Financial consolidation is a critical capability for multinational organizations that need to aggregate results from multiple entities, eliminate intercompany transactions and produce compliant group financial statements. SAP Financial Consolidation, delivered through SAP Group Reporting embedded in SAP S/4HANA, enables real-time close and consolidation on a single platform. SAPinsider covers SAP Group Reporting implementation, migration from SAP BPC and financial consolidation best practices.
What is SAP Financial Consolidation?
SAP Financial Consolidation refers primarily to SAP Group Reporting, the consolidation application embedded natively within SAP S/4HANA Finance. It replaces the need for a standalone consolidation tool by using the Universal Journal as the source of financial data, enabling real-time or near-real-time consolidation without data extraction. SAP Group Reporting supports legal and management consolidation, intercompany elimination, currency translation, investment consolidation and group reporting under IFRS and local GAAP standards, with results available in SAP Analytics Cloud for presentation and analysis.
What use cases does SAP Financial Consolidation address?
- Legal entity and group reporting: SAP Group Reporting consolidates financial data across legal entities in real time, producing statutory group financial statements and supporting audit readiness under IFRS and US GAAP.
- Intercompany elimination: Automated intercompany matching and elimination reduces the manual effort required to reconcile and eliminate transactions between group entities during the consolidation close cycle.
- Currency translation and revaluation: SAP Financial Consolidation handles group currency translation, foreign exchange revaluation and reporting in multiple currencies, enabling accurate consolidation across multinational organizations.
- Migration from SAP BPC: Organizations moving from SAP Business Planning and Consolidation to SAP Group Reporting use the consolidation module to modernize their close process, reducing reliance on separate consolidation tools and custom mapping tables.
- Management and segment reporting: Beyond statutory close, SAP Group Reporting supports internal management consolidation by profit center or segment, enabling consistent external and internal financial reporting from a single source.
What does SAPinsider research say about SAP Financial Consolidation?
SAPinsider research and practitioner content highlights SAP Group Reporting as the preferred consolidation path for organizations migrating to SAP S/4HANA. Finance teams are accelerating consolidation modernization by retiring SAP BPC and BCS in favor of the embedded Group Reporting solution, which reduces system footprint and eliminates data latency in the close process. Explore SAP Financial Consolidation resources and case studies at SAP Financial Consolidation.
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Jan 31, 2022
•1 minute read
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Join this session to:
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•1 minute read
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Jul 28, 2021
•2 minute read
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•1 minute read
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Jul 7, 2021
•1 minute read
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•1 minute read
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