The previously existing separation of Finance and Controlling (FICO) is now a thing of the past.
A common database not only lays the foundation for a close integration of FI and CO, but also for the digitalization of financial processes.
Along with S/4HANA's key concepts such as standardization, simplification, automation and transparency, this defines an intelligent ERP that supports company processes and prepares them for the future with additional features such as real-time reporting or predictive analytics.
With the introduction of S/4HANA, there are fundamental changes in internal and external financial management. The basis for this is the new data model under S/4H, whereby data from the two modules, which were previously stored in different tables, are now stored together in a central transaction data table - the Universal Journal (table ACDOCA). This creates a central data pool of relevant business data.
This consolidation of data into the single source of truth has an impact on a large number of processes and settings in financial accounting and controlling, as well as on the associated reporting.
The Universal Journal (UJ) forms the basis for the use of the innovative functions under S/4HANA, as well as for real-time and on the fly reporting and multi-dimensional reporting. Together with new applications, such as Group Reporting, it provides an answer to the growing demand for forward-looking and effective reporting tools.
The data streams in external and internal reporting have always overlapped, but in previous SAP versions, meeting the reporting requirements for both areas involved a lot of additional work. The required information had to be extracted from different tables and combined with each other. But the heterogeneous data structures and differences in data granularity in the respective SAP components made this a challenge. Furthermore, reconciliations between sub-ledgers and general ledger as well as extensive rework in SAP BW were necessary.
With the UJ, aggregated tables, index tables and various line item tables became obsolete. It combines transactional data from
financial accounting, actual postings from controlling, asset accounting and the material ledger in a central table, the Universal Journal (ACDOCA).
As a completely new feature in S/4HANA, the UJ responds to known problems in FICO; double data storage, heterogeneous data qualities and complex data processing (with BW extractors) are eliminated.
By storing the data in a common location, a uniform data structure and quality is created. In addition, the flexibility in reporting as well as in analyses increases immensely, which is additionally driven by a shortened runtime due to the increased data throughput.
The data model in FICO was completely renewed with S/4HANA. With the introduction of S/4HANA the changeover to the Universal Journal is automatic.
This is accompanied by important changes in Finance & Controlling:
As part of the S/4HANA implementation, you need to ask yourself the following questions in your company:
Our experts analyze your systems and identify potential improvements in your finance and controlling environment. This includes among other things: