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Accounting Solutions

Enable detailed accounting for multiple financial reporting standards, industries, currencies, and languages

Record and valuate business activities automatically from various applications and systems. Our accounting software can help you: 

  • Provide a single source of truth for general ledger and sub-ledger applications and real-time integration to logistics with a full audit trail
  • Enable financial reporting and real-time, self-service analytics directly from highly granular operational data
  • Drive efficiency, close books fast at less cost, and make smarter decisions faster
  • Ensure controls and auditability throughout the process

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Solution Capability

General Ledger

Run compliant accounting processes with a solid, extensible general ledger

Unify your accounting data in a single repository with a comprehensive, multidimensional general ledger. SAP solutions can help you:

  • Streamline external and internal reporting for  multiple reporting standards 
  • Record business transactions from operational systems in accounting
  • Help ensure accurate and complete accounting data 
  • Cover manual and automatic activities such as currency valuation, allocations, and accruals  

 

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Asset Accounting

Support compliant asset accounting for long-term, nonfinancial assets

Cover the full lifecycle of asset accounting from asset acquisition, creation, or transfer through retirement. SAP solutions can help you: 

  • Maintain, valuate, and analyze large numbers of fixed assets based on multiple financial reporting standards or currencies
  • Calculate and post values for purposes such as depreciation, interest, and insurance
  • Support the administration of lease contracts
  • Manage asset retirement obligations 

 

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Inventory Accounting

Run inventory accounting for internal and statutory requirements

Valuate raw materials, semi-finished products, and finished goods according to corporate and statutory requirements for inventory accounting. SAP solutions can help you:

  • Reflect goods movements from production and sales to distribution
  • Determine variances and work in process
  • Carry values in multiple currencies such as local, group, or hard currency.
  • Apply actual costs for materials externally procured or produced in house

 

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Accounts Payable

Recording and managing accounts payable data from vendors

SAP software enables accounts payable departments to record and manage all accounts payable data and then integrate that data with a company's purchasing system. Postings to accounts payable are simultaneously recorded in the general ledger. All standard payment methods are supported. Cash management is updated with figures from the invoice to allow for liquidity planning. All country-specific payment formats can be leveraged for comprehensive adaptation to local country rules and regulations. 

 

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Accounts Receivable

Management of customer accounts receivables

With SAP software, accounting organizations can record and manage accounts receivables data for all customers. Postings to accounts receivable are triggered in response to operative transactions in sales and logistics. Simultaneously, postings are recorded in the general ledger. The customer line item is cleared when the incoming payment is received. Data can be integrated to dispute, collections, and credit management applications. With increased automation, there is less manual effort and lower cost associated with running this financial process.

 

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Contract Accounting

Manage large volumes of partners and documents in contract accounting

Execute accounts receivable and payable processes for large volumes of business partners and documents while improving your contract accounting. SAP solutions can help you: 

  • Provide high flexibility to maximize automation and deliver outstanding system performance and scalability
  • Cover various statutory requirements and country-specific processes
  • Determine all receivable, payable, revenue, and expense values 
  • Automate data transfer to the general ledger on a cumulated basis

 

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Revenue and Cost Accounting

Make decisions in real time with improved revenue and cost accounting

Determine and record revenue and cost accounting data in real time. SAP solutions can help you:

  • Maintain a single source of truth for financial and management reporting including profitability analysis
  • Adhere to new regulations for revenue recognition
  • Manage costs and revenues on multiple dimensions such as profit centers, cost centers, and market segments 
  • Calculate the contribution margin for each market segment
  • Provide multiple methods for settlement of costs at period end

 

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Accelerate accounting processes with SAP Digital Business Services

CFOs today are asked to accelerate financial and regulatory reporting, but many operational challenges exist. The lack of integration leads to manual error-prone reconciliation. Your teams are faced with long posting and closing cycles with multiple batch runs and dependencies. Accounting should provide detailed information transparently with full traceability.  The demands for instant insight are increasing pressure to initiate change and transformation. You have the opportunity to simplify your business and drive business strategy.

The digital economy is having a profound impact on SAP customers and requires a new level of orchestration to evolve your business, unleash full business value, and ensure business continuity. SAP Digital Business Services brings business and IT together to help you reimagine your business using our digital business framework.

Based on over 40 years of experience working with the world’s most progressive organizations and a robust partner ecosystem, SAP Digital Business Services can guide you on the path to innovation and digital transformation, while securing critical business processes.

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Reduce business and operations analysis reporting costs by 15-30%*

Lower audit costs by 67%*  

Achieve 56% lower G/L and financial closing costs*

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