After the innovations for the on-premise Release 2020 were recently published, SAP is now announcing the last cloud release of the year SAP S/4HANA Cloud for Group Reporting® 2011.
The new release delivers improved usability as well as increased efficiencies and automations in the closing process due to the ability to create consolidated financial statements with multiple group currencies in a single financial statement.
Highlights of this article:
With the new release 2011 some new features have been added:
- Extended functions in the area of consolidation master data
- Group Reporting Data Collection (GRDC) new form designer and other improvements to forms
- Several data collection measures
- Consolidation with multiple group currencies
- Substitution and validation in flexible upload
- Fields of the consolidation of investments process when posting manually
1. Extended functions in the area of consolidation master data
Extended functions in the maintenance of the consolidation units
- In the Define Consolidation Units app, you can create consolidation units by copying an existing consolidation unit instead of creating it from scratch.
- Copying is also possible via "Consolidation Unit Details" of the "Define Consolidation Units" app.
- Regardless of where you initiate the copy process, the copy dialog that appears is the same.
Navigation between the Define Consolidation Units and the Group Structure Manager applications.
With the new version, you have the option to navigate between the "Define Consolidation Units" and "Manage Consolidation Group Structure" apps and adopt the context of the selected consolidation unit, consolidation version, and fiscal year and period.
- Tax rate check for scenarios with multiple group currencies
- Extended input help for the source for the local and group currency key figure
- Enhancements to the master data of balance sheet items. This means that existing balance sheet items are copied instead of creating them again ("Define FS Item" app)
2.GRDC new form designer and other improvements to forms
With the new release, SAP delivers improved handling and various improvements to the forms, such as the quick adjustment of your forms in the page, row and column axis as well as file input in several currencies and versions.
3.Consolidation with multiple group currencies
Configuration of versions:
Version types are introduced with the new approach to simultaneous consolidation in several group currencies and/or using different translations:
- Standard version saves all currencies (local currency, transaction currency, group currency) and quantities
- GC extension version saves additional group currencies (GC)
- Extension version saves group currencies with different conversions (delta amounts)
The reference version defines the “base version”.
The standard version controls the process: task execution, task status, task logs.
- The standard versions and the associated GC extension version may use different exchange rates / currency conversion methods
Objective:
- Generate multiple group currencies in a single closing process.
- It is possible that you configure extension versions to the standard version, each of which can contain an additional group currency or an additional conversion.
- Create multiple group currencies or different conversions on the same group currency in a single closing process while simultaneously processing the standard version in the data and consolidation monitor without having to copy the reported data across versions.
- Allows posting of manual journals in multiple group currencies at the same time, preserving the values of multiple group currencies in the columns of the same bundled journal entries.
advantage:
- Increased efficiency and automation when working with multiple group currencies or multiple currency conversions.
- eg when converting at constant exchange rates for comparative reports.
4.Multiple data collection measure
Thanks to the new release, you can define multiple data entry tasks and assign them to different document types.
5.Substitution and validation in flexible upload
The new release offers the function that flexible uploads and write data APIs integrate substitution and validation functionalities.
The Manage Substitution/Validation rules - Group Journal Entries app allows you to define the rules to be used. Note that the correct business context must be selected.
- When uploading a file, the results of the substitution/validation are displayed in the task log
- If you click on the message, you will see the details.
- You can get a link to the rule setup from the message details.
6.Fields of the capital consolidation process when posting manually
The new release provides the ability to manually enter amounts for C/I processing fields via the Post Group and Import Group Journal Entries apps. The newly added fields are:
- Investment unit, acquisition transactions, posting date
- These fields are available for all posting levels connected to manual posting apps (01, 10, 20, 30), but these fields are only possible/inputable for FS items of type Participation and/or Equity.
Whether and how the solution can best be used must be evaluated on a customer-specific basis. When switching to SAP S/4HANA FINANCE FOR GROUP REPORTING® Various factors must be taken into account in order to use the software optimally.
Take advantage of our individual consulting services and achieve success with us!
Our services as part of a preliminary analysis in detail:
- Actual recording of the current closing processes from a holistic perspective with consideration of the infrastructure, data flows and reporting
- illuminate the relevant content-functional characteristics of the consolidation such as data reporting and validation, currency conversion, group eliminations, elimination of interim results and capital consolidation
- adjustment the status quo with future requirements based on SAP S/4HANA FINANCE FOR GROUP REPORTING® and detection of optimization potential for efficient financial statement preparation
- Create a rough concept including a process plan for the implementation of SAP S/4HANA FINANCE FOR GROUP REPORTING®
Our services as part of an implementation in detail:
- Organization and project management for an orderly implementation of the project from an overall perspective
- Realize of the rough concept in SAP S/4HANA FINANCE FOR GROUP REPORTING® with a tailored configuration for a customer-specific optimal use of the software solution with simultaneous detailed design
- transfer of the legacy data from the previous consolidation solution to SAP S/4HANA FINANCE FOR GROUP REPORTING®
- Accompany the customer-internal cooperation of all actors in dealing with SAP S/4HANA FINANCE FOR GROUP REPORTING®
- Hold onto of the project results in user manuals, process manuals and other documentation
- Support after go-live
Our workshop offer for you:
Discover the new possibilities of SAP S/4HANA FINANCE FOR GROUP REPORTING together with our experts!
We will show you the optimal application possibilities in a transparent and understandable way using implemented practical examples.
- What are the optimal possible uses of the solution?
- What requirements must be met?
- What added value is actually for your company?
In a workshop at your site, we provide answers to these and other questions that may be of interest to your company.
In a prior call, we would be happy to coordinate the focus of the appointment together.
Duration: approx. 2 - 3 hours
Fee: by agreement
Location: at your home
Target group: Accounting/Controlling departments and IT departments
In this way, you and your team can obtain information conveniently and efficiently.
We look forward to speaking with you!
For more information, please visit:
https://www.sap.com/documents/2020/11/e88a1b9e-b97d-0010-87a3-c30de2ffd8ff.html