SAP S/4HANA Finance in a nutshell, Understand the basics of SAP S/4HANA Finance & Fiori. Learn Financial Accounting, GL configurations, Ledgers in S/4HANA.
A warm welcome to the SAP S/4HANA Finance in a nutshell course by Uplatz.
What is SAP S/4HANA Finance?
With its S/4HANA ERP system, SAP offers a holistic platform with a broad portfolio of modules for all-encompassing business transformation. The portfolio element S/4HANA Finance and Controlling (SAP FICO) includes financial solutions for accounting, controlling, reporting, and operational management, among others. After the successful execution of SAP Simple Finance, SAP introduced the S/4HANA Business Suite, that not only includes Finance functions but also the Logistics functions on the HANA platform. SAP S/4HANA Finance is one Business application for Finance. It includes SAP Accounting, SAP Treasury & Cash Management, and SAP BPC.
In summary, SAP S/4HANA Finance is a financial application in the SAP S/4HANA ERP platform and is designed to remove traditional barriers between transactional, analytics and planning systems to provide instant insights and on-the-fly analysis using all levels of financial data. The product consists of a set of interconnected accounting and financial management functions that process real-time data from the business applications in an S/4HANA ERP system. One can use it to model financial scenarios and build forecasts.
Previously called SAP Simple Finance, SAP S/4HANA Finance was the first ERP component, or module, released for S/4HANA. It is aimed at financial professionals in all industries, including CFOs and others involved in accounting, taxes, treasury, financial operations, risk management and compliance. The user base ranges from small companies to large enterprises worldwide.
Features of SAP S/4HANA Finance module
- New GL concept
- Extension Ledger
- Cost Element included in Ledger Account
- Secondary Cost Element
- Business Partner Concept
- Receivable Management (Credit Management, Collection & Dispute Management)
- Cash Management
SAP S/4HANA Finance in a nutshell – Course Curriculum
- Introduction to SAP S/4HANA Simple Finance
- Introduction to SAP Fiori
- Migration to SAP S/4HANA Finance
- Organisational Structure in SAP S/4HANA Finance
- Financial Accounting Configuration
- General Ledger Configuration Premigration
- GL Accounting Consolidation Configuration
- Special Purpose Ledger
- Document Splitting
- Interest Calculation Types
Advantages of SAP S/4HANA Finance
Efficient & Quicker Processes
Through standardization and automation with the use of the Universal Journal, the paths to consolidated financial data are significantly shortened. The time required for the preparation of financial statements and group closings has been significantly reduced.
Greater Flexibility
The system enables the business model to be made more flexible and agility to be increased that make it possible to respond more quickly to changes in circumstances.
Less Probability of Errors
Activities that were previously carried out manually, for example in closing, are now handled by rule-based automatic processes – for e.g. include data upload, IC reconciliation and the creation of reports. The elimination of manual activities minimizes the potential for errors.
Transparency
Consolidated financial data becomes transparent and more auditable through Track & Trace. Transparency for audits and the depth of analysis for forecasting and financial management are increased.
Better ROI
Implementing SAP S/4HANA Finance provides an attractive ROI. Also there is significant acceleration of processes and the lower total cost of ownership (TCO).
Robust Platform
SAP S/4HANA Finance implementation provides robust and flexible platform for optimized processes to run and better integration as well.
