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Financial accounting is a complex discipline that consists of various topic areas. The core of financial accounting is general ledger. General ledger encompasses the process called record to report, which follows the concepts of correct representation of company’s financial information in financial statements like balance sheet or profit & loss statement.

Since SAP S/4HANA is a powerful backbone to your business, obviously it offers a bunch of functions to power your financial accounting, and specifically your record to report process. Discover all of this and more in our new learning journey - Outlining the Record to Report Process in SAP S/4HANA. This learning journey can be found on our new learning platform, learning.sap.com. This learning journey is designed to foster foundational knowledge about general ledger accounting in SAP S/4HANA.

Since general ledger is a complex topic, the learning journey is perfectly aligned along the main topic areas:

  • Record to report master data and structure

  • G/L postings

  • Reporting requirements

  • Local close for the general ledger

Just like any other SAP module, financial accounting needs master data. For the record to report, we are talking about master data like G/L accounts, for example. It is also crucial to understand how company can be represented from the accounting perspective. Hence, we need to discuss the concepts of  company code and controlling area.

Posting financial documents is a part of daily activities of every accountant. And general ledger accountants are no exception. In this learning journey you can learn everything about the structure and functions of financial documents, as well as make your own general ledger postings and record financial data.

The outcome of financial postings is obviously correct reporting of your data. In this dimension there are concepts like financial statement versions, parallel accounting, segment accounting or cost of sales reporting. Sounds complicated? Not at all! Since all these concepts are perfectly explained in our learning journey.

Finally, closing is a vital part of the record to report process. Closing activities are a final touch to a correct financial reporting. At the end of the period, quarter or a fiscal year accountants may need to perform things like foreign currency valuation, balance carryforward, accruals and deferrals and more. Learn about foundational concepts of local closing in the final chapter of this learning journey.

This self-paced learning journey is designed to give you an overview on all necessary concepts of the record to report process in SAP S/4HANA Financial Accounting module. Visit our learning journey on Outlining the Record to Report Process in SAP S/4HANA and let your general ledger shine!

Fill the gap through upskilling and enjoy SAP’s learning offerings on the SAP Learning site. This article is created and brought to you by SAP Product Learning CoE experts! 

Written by Malcolm Wood and Anton Belousov