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Author's profile photo Christian Kupper

From Operations to Accounting. How to Transform Business Events to Accounting Entries with a Comprehensive Accounting Hub

Companies from all Industry Sectors have one thing in common: to account for their business activities, they need to facilitate the handshake from operations to finance.

Integration is key. SAP is known for its world-class expert systems that combine operational processes with their resulting accounting events within Real Estate, Treasury, Loans, Travel and Expense, and much more. Most operational systems do not include these comprehensive accounting hub functions.

SAP S/4HANA Financial Posting Gateway helps you to translate business events to accounting entries in a smart, auditable way

Diverse operational systems in Banks, Insurers, Professional Services companies, and other Industry sectors may generate various types of business events which need to be accounted for properly. SAP S/4HANA Financial Posting Gateway acts as a landing zone for diverse business events provided by the connected feeder systems. It offers vast accounting hub functionality that records business transactions, derives granular subledger posting documents for multiple ledgers, and generates the related GL posting documents.

Get new insights. Today, business users need to derive purpose from the data. A reference key allows the seamless drilldown from the General Ledger to the subledger postings and the loaded master data. In addition to the accounting aspect, this offers the ability to realize new granular reporting insights for management reporting and planning processes.

Stay compliant and lower TCO. IT experts know that building interfaces is expensive. To then create multiple interfaces together with the accounting logic is even more expensive. The new accounting hub in S/4HANA lowers that burden by acting as a central gateway to the Finance function, in a scalable, central, enterprise-grade, solution which includes :

  • Accounting Rule Engine that converts operational transactions into financial accounting entries
  • FX handling capabilities
  • Multi-Ledger capabilities with optional GAAP-dependent rules
  • Automatic Feeds and/or Manual Adjustments
  • Process Continuity and Error Handling that uses Suspense Accounting to manage erroneous entries
  • Enrichment of data to derive additional characteristics which enable subsequent detailed analysis
  • Data linkage to the lowest level of granularity
  • Leaner Chart of Accounts
  • Faster & ‘continuous’ closing
  • Reduction in IT complexity
  • Simplified, non-redundant data flow
  • Profitability and cost reporting at the most granular level

 

The world has arrived at the destination of Insight Driven Enterprises. The Financial Posting Gateway is now available to manage an unlimited number of transactions at any granular level and ensure appropriate processing speed with detailed analysis. As a result, integrated accounting data is ready to be transformed into valuable business insights for the CFO and other executives.

Interested in learning more? Check out our latest video: SAP Financial Posting Gateway Overview

Please visit us at SAP for Insurance

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