SAP General Ledger: Key functionality and a sneak peek at our upcoming webinar
Authored by Leo Schultz, SVP of Consultant Services, TruQua
The digital CFO needs a dynamic, flexible chart of accounts that provides enough detail to see the true measures of business activity like profitability by division by customer by product by sales order – in real-time. Simply stated the SAP General Ledger (Universal Journal) delivers that kind of dynamic flexibility.
TruQua is pleased to announce our latest webinar “What’s new in SAP S/4HANA for Finance”, scheduled for Thursday, April 9th to showcase the enhancements to the SAP General Ledger and Universal Journal, including multi-ledger, document splitting, and SAP Central Finance. This blog features a sneak peek at a few of the enhancements our upcoming webinar on the SAP General Ledger will cover.
Key functionality delivered with the SAP General Ledger
Dynamic Chart of Accounts with over 300 dimensions to be used to report business activity
Document Splitting – providing the ability to manage the balance sheet by business segment(s) without additional allocations.
Multi-Ledgers – providing the ability to record multiple reporting requirements such as GAAP & IFRS without having to replicate transactions.
Auto-Intercompany – providing the ability to record balanced intercompany transactions (Live) eliminating unnecessary reconciliations.
Currency Translation – providing the ability to record currency translations and revaluations (Live) for accurate financial statement reporting in multiple currencies at any level of business activity.
Business Benefits of the SAP General Ledger
A singular view of all transactions through the Universal Journal provides live information at a deep level of business segment granularity.
SAP’s S/4HANA table optimization simplifies the structure of ERP providing finance the ability to report faster due to no data latency and/or reduced time spent on system reconciliations.
20-40% reduction in audit fees; 40-50% reduction in days to close annual books
20-40% reduction in G/L and financial closing costs
10-20% reduction in business analysis and reporting costs
Leo P Schultz CPA, MBA, SVP of Consulting Services, TruQua
Leo has 10 years of SAP experience covering Financial Planning & Analysis including BPC and SAP Analytics in addition to his knowledge of Central Finance. Leo is an expert at SAP Finance Transformation
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