SAP has introduced a new component, which helps in managing the modifying organizational view and reacting to the need for improved insights, the capacity to continuously deliver correct, up-to-date financial data in a more automated manner for units as well as at the business group level. SAP S/4HANA Finance for group reporting allows enterprises to expand this development towards a constant financial close. It contains a comprehensive set of financial alliance features, from data collection to the final combined statement, which in turn delivers excellent transparency. Using this feature, the process of financial closing and reporting from the collection, processing, analysis, and publication of the information is drastically enhanced.
SAP Central Finance-1809: Configuration
With Central Finance, you can transition to a centralized SAP S/4HANA on-premise edition without disturbance to your current system landscape, which can be made up of a combination of SAP systems of various releases and accounting methods and non-SAP systems.
This allows you to develop a Central Reporting Platform for FI/CO with the option of creating a common reporting framework. Furthermore, selected financial processes can be performed centrally in this system. To prepare typical reporting structures, you can map your various accounting entities (for example, account, profit center, or cost center) in your source systems to one common set of master data in the central system. You can then replicate financial accounting and management accounting postings to your Central Finance system.
In your SAP S/4HANA system, FI documents and CO postings are combined into one document; the universal journal entry. In addition, all cost components become part of the chart of accounts. Before you replicate CO postings to the Central Finance system, you require to make sure that accounts are available for all cost elements. You can additionally replicate specific cost objects (for example, internal orders) to the Central Finance system.
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Below are some of the essential technologies provided in 1809. It is not a comprehensive list of new features, yet one of the most preferred.
- Embedded Transport Management
- Supply Chain
- Industries to Core– Utilities
- Industries to Core– Retail, and Fashion
- Customer Management
- Digital Manufacturing
- Sourcing and Procurement
- Asset Management
- Sales and Distribution
- Inventory Management
- Quality Management
- Extended Warehouse Management
- R&D/ Engineering.
- Migration Cockpit
SAP Central Finance for group reporting allows enterprises to expand this development towards a constant financial close. It contains a comprehensive set of financial alliance features, from data collection to the final combined statement, which in turn delivers excellent transparency.
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