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FIN (Finance)

Adding Customer Fields in FI New Gl functionality

Overview of Customer Fields in FI New Gl functionality Introduction on Customer Field   A customer field is a database table field that is created and defined by the customer. Such fields are therefore not delivered in the SAP standard system. The inclusion of customer fields has effects across the whole …

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White paper On Business Transaction Events (BTE)

Overview Concept of Enhancement Enhancement means “Adding new functionality to the standard SAP according to the requirement”. Underlying concept behind enhancements in SAP is very simple. In a nutshell, “SAP delivers a standard version of software comprised of several repository objects. SAP anticipates that this standard version of its software …

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Doubtful receivables & Bad Debt

Doubtful receivables & Bad Debt : Product Companies/Service Providers, using SAP, have a large customer base . Out  of them some may delay or default for payment, after the invoicing is done. This leads to doubtful receivables and ultimately, if not payed , a bad debt.Lets understand this with the …

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Concurrent maintenance of exchange rates

It is a very common requirement in any business which deal with sales and purchase in different currencies to have proper exchange rates to determine the local currency amount with respect to different foreign currencies they deal with. SAP has provided an option to maintain the exchange rates (T-code OB08) …

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US Legal Changes – forms and Smartforms updates.

Hello everyone, The purpose of this document is to provide a list of KBAs/Notes that were released/updated on December 2014. The following notes below: 1949019 – US LC 2013: Smartforms for Withholding tax reporting 1949020 – US LC 2013: Smartforms for Withholding tax reporting 1949021 – US LC 2013: forms …

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Funds Management for Cost Object and Investment Object

Funds Management for Cost objects Process Flow Organization structure FM Area The financial management area is an organizational unit within accounting which structures the business organization from the perspective of Funds Management.Each company code would be created as a FM area. All the configurations and transactions are based on FM …

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1099-Misc Reporting

                                                       1099-Misc Reporting This document shows step by step process for executing 1099 Misc Reporting What is 1099 MISC report? In USA, 1099-MISC is used to report payments for services performed for a business by people not treated as its employees, such as payments to subcontractors, rent payments or prizes. …

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Alternate solution to track employee costs

This document intends to explain an alternate approach to track employee costs. If SAP HR is implemented, it provides a standard way to do that. However, where SAP HR is not in scope, I have used the below approach, which I would like to share with the group. Though this …

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New release (SP5) of SAP® Financial Consolidation starter kit for IFRS including dedicated enhancements for IFRS11 transition

The starter kit for IFRS (International Financial Reporting Standards) is a preconfiguration of SAP® Financial Consolidation – part of SAP solutions for EPM (Enterprise Performance Management) – designed to help customers perform, validate and publish a statutory consolidation in accordance with IFRS. As IFRS are constantly evolving, SAP EPM teams …

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Positive pay – An Overview

Positive pay – An Overview What is Positive Pay? Positive  Pay is an automated fraud detection service offered by the US Commercial Bank. Positive pay is informing the bankers about the checks your  company has issued.           How does Positive Pay work? For instance, ABC Company issues approximately 500 …

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How to assign a mistakenly voided check to a payment

I would like to share my knowledge related to assigning a voided check to a payment. Sometimes we void a check and payment inadvertently vide FCH8. When we try to cancel the voided check payment using F110–>Environment–>Check info–>Delete–> Reset data and resetting the voiding data  SAP will not be allowing …

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New Endorsed Business Solution (EBS) – BlackLine Financial Close Suite

SAP continues to support our customers’ business and build its eco-system around SAP Accounting and Financial Close solutions by endorsing the BlackLine Financial Close Suite of our partner BlackLine Systems. The partner software provides solutions ·Account Reconciliation, Task Management, Variance Analysis, Journal Entries, Transaction Matching and Consolidation Integrity Manager The …

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Welcome to Mobile Applications in Financials

The development team for mobile applications in Financials would like to welcome you in the Mobile Applications in Financials Community on SCN! The goal of this space is to provide a common forum for customers, partners and consultants to interact. We would like to focus on our current app portfolio: …

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