07 Mar Financial Accounting
The Financial Accounting Module is an application simultaneously integrated with all the other SAP modules. It’s been designed to meet both actual and future requirements thanks to its industry-independent parametric structure and goes far beyond a traditional accounting system as it incorporates many new approaches as its standard functions. Its local applicability and regulatory compliance in Turkey have been tested and approved by independent auditing companies. It’s the accounting application with the highest number of installations throughout Turkey, which runs on an ERP system in a real sense.
1. FI-GL (General Ledger)
2. FI-AP (Accounts Payable)
3. FI-AR (Accounts Receivable)
4. FI-AA (Asset Accounting)
5. Legal Consolidation
7. Funds Management
8. Travel Management
The advantages brought by the application with the basic functions include;
- Real Time Integration
- Local Regulatory Compliance
- Multi-currency accounting (simultaneously with TRL and two additional currencies)
- Inflation Accounting
- Ample reporting options
- Approved localization
- Simple and easy-to-use accounting system
- Financial statement analyses and legal reports
- Flexible reporting tools that can be developed further if requested
- Numerous automatic business processes such as Exchange Rate Differences, Rediscounting, Interest Calculation, Reconciliation Programs, and Closing Transactions
- Outstanding auditing facilities
- Detailed authorization that can satisfy any requirement
- Pre-tested scenarios that can cover all business processes
- An accounting application TESTED and APPROVED
NEW GENERAL LEDGER
SAP has adopted a new ACCOUNTING system infrastructure, called NEW GENERAL LEDGER, starting with version 5.0. The New General Ledger principle is aimed at enabling companies to produce both legal and managerial reports at once using a single account plan.
- Multidimensional reporting facilities for different accounting standards using parallel legders (UMS, US GAAP etc).
- Simultaneous updating of ledgers for legal and managerial reports.
- Financial accounting and cost accounting integrated on real time basis.
- Flexible/expandable reporting areas (with company-specific areas).
- Segment reporting facilities for managerial accounting purposes
It yields flexible, easy-to-use research reports.