SAP ERP

Financials -- Financial Accounting

The following business goals and objectives can be achieved through the implementation of these processes:

Reducing Operating Costs & Increasing Efficiency

•   Reduce administration, improve business processes

Provides a comprehensive picture for external accounting and accounts. Records all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company to ensure that the accounting data is always complete and accurate.

Configuration Variants

Records and manages customer accounting data via the Accounts Receivable (AR) component. Connects AR directly to the G/L using a special reconciliation account.

Configuration Variants

Records and manages vendor accounting data via the Accounts Payable (AP) component. Connects AP directly to the G/L using a special reconciliation account.

Configuration Variants

Covers all standard accounts receivable and accounts payable functions and provides new functions with a high degree of flexibility.

Manages receivables and payables in a subledger that follows the aspects of mass data processing and system integration.

Contract Accounting represents a solution that is most valuable for customers with a large volume of business partners and documents to process.

Please note that the following business processes are not included in the SAP ERP shipment:

• Managing Collections in Interaction Center
• Managing Deferals and Installment Plans
• Managing Disputes in Interaction Center
• Managing Financial Inquiries in Interaction Center
• Managing Payment Data
• Managing Processing Locks

Configuration Variants

Maintains and analyzes fixed assets according to generally accepted rules in the company's country. Delivers country templates with the system.

Configuration Variants

Includes the management of bank master data, cash balance management (check and bill of exchange management), and the creation and processing of incoming and outgoing payments.

Manages cash transactions via Cash Journal Accounting. Calculates and displays the opening and closing balances and the receipts and payments totals automatically.

Supports the valuation and reporting of inventory according to different regulations. Carries inventory values in two additional currencies/valuations via the Material Ledger component. Performs all goods movements in the Material Ledger in up to three currencies or valuations. Translates currency amounts into foreign currencies at historical exchange rates at the time of posting. Supports the determination of actual costs (compared to standard costs) for externally procured materials and materials produced in-house via Actual Costing. Valuates material inventories, such as raw materials as well as semi-finished and finished products, accordingly.

Supports the calculation and reporting of taxes on sales and purchases and withholding tax.

Configuration Variants

Manages accounts payables and receivables differently than the required periodic assignment of costs and revenues. Records revenues when they are earned, not when the receivables are disclosed; costs according to the consumption of material or services, not when the obligation arises, via Accrual Accounting.

Configuration Variants

Supports speed and transparency of the closing process by means of application integration, process automation, reconciliation and collaboration functionality.

Configuration Variants

As part of the period or year-end closing, individual companies create financial statements according to country-specific regulations.

Configuration Variants

Travel management provides a fully integrated end-to-end trip life cycle solution to improve processes in pre-trip approval, online booking, expense reporting and data warehousing. This process optimization results in cost reduction of indirect travel costs, lower agency transaction fees and possible enhanced supplier negotiations.

The details of this business process are described in the area Travel Management underneath 'Human Capital Management' within this SAP ERP application map.