Group reporting consists of topics such as consolidation process and analytical reports and supports the computation, creation, and disclosure of consolidated reports that provide information on the performance of a corporate group.
Group reporting is embedded in the SAP S/4HANA core environment, combining two areas which were isolated in traditional consolidation solutions: Legal entity closing and corporate closing. Group Reporting also helps companies to embrace continuous accounting goal, accelerating their book closing processes.
A complete consolidation process typically starts with preparatory steps, such as setting global parameters, checking the master data of your organizational units and financial statement (FS) items, and specifying effective exchange rates.
Once done, data can be collected and reported by consolidation units, and standardizing the data with features available in the Data Monitor. When the data is ready for consolidation, go to the Consolidation Monitor to perform the consolidation tasks, such as various interunit eliminations and data validation. For a list of the tasks and their descriptions, see Data Monitor and Consolidation Monitor.
Specify the global parameters that will apply to all further steps of the consolidation process.
Inputs to the following global parameter fields are required:
• Version: Versions make it possible to consolidate different sets of financial data or consolidate in different group currencies. You can only select standard versions. Therefore, if you select a version which is a group currency extension version or an extension version, your selection is adjusted to the corresponding standard version. For more information, see Consolidation Versions.
• Fiscal Year/Period
• Consolidation Chart of Accounts: A systematic grouping of financial statement (FS) items that belong together and are used on the group reporting or consolidation level.
• Mapping Definition Apps include defining FS Item, Consolidation Unit, Consolidation Group, Item mapping, and Validation rules.
• Data monitor app is used to run he activities for collecting and preparing the financial data reported by the consolidation units. These activities are called tasks.
• Consolidation monitor is the collective process through which assets, liabilities, revenues, and expenses of related entities are combined for companies to perform external group reporting of financials.
• Data collection can be through integrated approach, APIs, File Upload, and Manual collection methods.
• Reporting Apps include Group data analysis and Validation results analysis.
• Fully aligned with SAP S/4HANA key concepts of real-time data access and minimizing data replication (transactional and master data).
• Eliminates need for periodic extraction and replication of data into traditional stand-alone solutions.
• Leverages “single source of truth” being the Universal Journal.
• Fully integrated component of SAP S/4HANA (common user experience, authorizations, reporting tools, shared master data (where applicable) and full transactional data access).
• Potential to significantly reduce time to close, facilitate continuous accounting and enhance both audibility and reliance on reported results.
• New innovative capabilities and concepts leveraging the power of in-memory computing.
We provide consulting services SAP S/4HANA Group Reporting which includes all the transformation required from legacy consolidation process, migration from BPC, and new consolidation process.
Implementation of AP S/4HANA Group Reporting by establishing the data connectivity for all required data sources which include different ERPs, Excel files, LoB tools, IoT devices, and integrate seamlessly for consolidation inputs.
Integration with all complementing solutions and data sources to have seamless flow of data to make data available on time to enable better and informed decision making.
We handhold the finance team during the implementation, perform knowledge transfer, and provide uninterrupted support. The reporting is done through SAP Analytics Cloud and help management to spend no time on consolidation process and use the time for decision making.