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Sap Best Practices Financial Accounting

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  • 1. SAP Best Practices Financial Accounting AJ Blackston & Associates System Implementations, Upgrades & Audits
  • 2. Purpose
    • In the area of financial accounting, the SAP Best Practices for Baseline U.S. solution ensures you have access to the information you need when you need it.
    • Best Practices allows you to:
    • Increase the efficiency of accounting
    • Identify inaccuracies in data
    • Improve financial reporting
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 3. The following functions support your financial processes:
    • Profit and Loss Statement
    • General Ledger
    • Accounts Receivable
    • Accounts Payable
    • Bank Accounting
    • Tax Accounting
    • Asset Management Accounting
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 4.
    • In addition, the management accounting tool is provided to monitor and control performance relevant information in an environment of complete integration with all operative transactions throughout the company.
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 5.
    • Accounting maintains a consistent, reconciled, and auditable set of books for use in statutory reporting, management support and as a source for analytic applications, and helps a company take control of its profitability.
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 6. Function List
    • Financial Accounting
      • Chart of Accounts
      • Financial Statement Version
      • Assets
      • Check Lot Maintenance
      • Exchange Rates
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 7. Function List (cont.)
    • General Ledger
      • Baseline package Chart of accounts
      • Journal postings
      • Transaction clearing
      • Month end closing
      • Year end closing
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 8. Function List (cont.)
    • Accounts Payable
      • Invoice and credit note processing
      • Process outgoing payments
      • Transaction clearing
      • Generate aged listings
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 9. Function List (cont.)
    • Accounts Receivable
      • Invoices and credit note processing
      • Process incoming payments (Lockbox and manual check application)
      • General Customer Credit Management
      • Transaction clearing
      • Generate aged listings
      • Customer Statements
    July 2010 AJ Blackston & Associates - System Implementations, Upgrades & Audits
  • 10.
    • Key Points
    • Can be used by enterprises operating on a national level, as well as by groups operating on a global level.
    • Can be used as the basis for setting up integrated solutions.
    • With the new ledger, you can extend the general ledger simply and rapidly with user fields.
    AJ Blackston & Associates - System Implementations, Upgrades & Audits July 2010