The proper design and ongoing optimization of accounting within SAP ERP systems is a complex and multi-layered topic - not least due to changing legal requirements. Corporate planning, the processing of current transactions, periodic financial statements and reporting are subject to constant change.
4process offers you tried-and-tested solutions based on extensive project experience.
SAP-integrated solution for mapping the requirements of IFRS 16
Processing of incoming and outgoing payments
Efficient liquidity analyses
Implementation and realization of local requirements
Various solution approaches within the SAP system
The new accounting standard IFRS 16 is mandatory for financial years beginning on or after 1 January 2019 and replaces the previous standard IAS 17. Finance departments and SAP systems will face some massive changes and organizational challenges with regard to lease accounting. This particularly affects companies that have concluded many leases.
All leasing contracts must be identified across the company, including all international subsidiaries, recorded centrally and the effects of the new accounting regulations on the business figures assessed.
The aim of the new regulation is to limit the scope for balance sheet cosmetics by requiring lessee liabilities to be reported in the balance sheet. A distinction between finance leases, operating leases and off-balance sheet presentation is no longer possible with IFRS 16.
If they have not already done so, companies must therefore include their leasing transactions in the balance sheet if they have a term of more than twelve months without a purchase option or are not of low value. In practice, this is likely to increase debt and interest charges, which will reduce the equity ratio. Therefore, the utmost care and attention is required when converting lease accounting.
Are you interested in our SAP-integrated solution for mapping the requirements of IFRS 16? Do not hesitate to contact us, we will be happy to support you.
The requirements surrounding the processing of incoming and outgoing payments are constantly increasing in many companies. This is reflected on the one hand in the higher number of incoming payments to be processed and on the other hand in the timely posting of incoming payments and the clearing of open items required in reporting. The electronic account statement from SAP offers an adequate and cost-effective solution here.
With SAP's electronic account statement, you have access to archived account statements at any time as well as complete control of the posted account statements and integration with the generated accounting documents. This allows you to minimize data entry errors. Daily updated data is available to you promptly for the daily financial status / liquidity preview. Convenient post-processing of account statements is possible at any time.
Uncertain markets and higher financing risks make effective liquidity protection more urgent than ever before. Only sufficient liquidity can ensure the solvency and thus the existence of a company. It is therefore essential, especially in uncertain times, to plan income and expenditure precisely and to monitor existing liquidity reserves on a daily basis.
SAP Cash Management enables you to carry out efficient liquidity analyses. Financial transactions in closed accounting periods can be analyzed and future developments can be displayed in financial planning. SAP Cash Management provides you with the cash position and liquidity forecast for analyzing the data.
With the "Budget Law 2018" published on 29.12.2017, the Italian tax authorities laid the foundation for e-invoicing. The Italian tax authorities are pursuing the goal of closing the monthly growing tax gap. The following key facts:
We are happy to support you in the implementation and realization of local requirements and in coordination with your Italian colleagues.
GoBD (German: Grundsätze zur ordnungsmäßigen Führung und Aufbewahrung von Büchern, Aufzeichnungen und Unterlagen in elektronischer Form sowie zum Datenzugriff) stands for "Principles for the proper keeping and storage of books, records and documents in electronic form and for data access".
The GoBD came into force on January 1, 2015 and merged the previous regulations GDPdU ("Principles of data access and verifiability of digital documents", 2001) and GoBS ("Principles of orderly IT-supported accounting systems", 1995).
The Tax Reduction Act of October 23, 2000 for the first time regulated the tax authorities' right of access to bookkeeping created with the help of data processing systems in the context of external audits (e.g. special VAT audits and external wage tax audits). With the GDPdU, the Federal Ministry of Finance (BMF) has interpreted the legal changes from its point of view. One innovation in particular was the three possible types of access to tax-relevant company data within the scope of external tax audits in accordance with Section 147 (6) AO:
There are various solutions within the SAP system that can be used to implement the data access requirements. We will be happy to advise you on this.
