ERPfixers Blog Series
ERPfixers
The 2024 SAC Q3 Update: Transforming Financial ...

SAP Analytics Cloud (SAC) propels into Q3 2024, leveraging new features that enhance financial planning and strategic decision-making. This quarter, SAP introduces deeper integrations with Microsoft PowerPoint and advanced forecasting tools, paralleling innovations seen in tech leaders like Google and Amazon.

The highlight is the integration with Microsoft PowerPoint, allowing for live data updates directly in presentations—vital for real-time business decision-making. Deeper integration with Microsoft PowerPoint now allows financial planners to present up-to-the-minute financial data directly in their strategic presentations, ensuring decisions are based on the latest insights.

The 2024 SAC Q3 Update: Transforming Financial Planning in SAP Analytics Cloud
ERPfixers Blog Series
ERPfixers
SAP Revamps Advanced Financial Closing Solution ...

SAP has introduced a transformative update to its Advanced Financial Closing (AFC) solution with the introduction of Company Code Groups, allowing finance teams to streamline and organize financial closing tasks more efficiently. For those new to this, AFC is a robust SAP solution designed to optimize the complex process of financial closing by automating tasks, enhancing reporting accuracy, and reducing closing times.

This update marks a significant milestone for global enterprises like Siemens and Nestlé, which now have enhanced capabilities to streamline their financial operations efficiently across various business dimensions.

The new Company Code Groups feature revolutionizes financial closing by allowing more dynamic, customizable groupings of company codes. This means finance teams can tailor their processes to fit distinct business units or geographic regions with unprecedented precision. This tool simplifies handling your finances, making sure everything's up to standard with rules like IFRS and SOX, and lets you check your financial status on the fly, all from one spot.

In this blog, you will discover how SAP’s latest innovation in AFC will significantly reduce the complexity and duration of financial closing processes. We’ll delve into the technical nuts and bolts of Company Code Groups, explore their impact on flexibility and efficiency, and look at real-world applications that demonstrate why this tool is essential for today’s multinational corporations.

SAP Revamps Advanced Financial Closing Solution with New Company Code Groups
ERPfixers Blog Series
ERPfixers
SAP Sets New Standards in Business AI ...

With the ongoing generative AI boom, businesses are seeing unprecedented scalability and accessibility in AI applications, making advanced AI tools available not just to large corporations but to startups and mid-sized businesses as well​. The blend of these advancements with SAP’s innovative approach paves the way for a transformative era in business technology.

SAP Sets New Standards in Business AI Implementation
ERPfixers Blog Series
ERPfixers
Real-Time Reporting in S/4HANA Finance: 5 Key ...

This article delves into the concept of real-time reporting, highlighting the fundamental differences between real-time and traditional reporting. We'll then explore five key advantages that real-time reporting in S/4HANA Finance offers, such as enhanced decision-making, improved operational efficiency, etc.
Additionally, we will discuss the key features of S/4HANA Finance that support real-time reporting, and how businesses can leverage embedded analytics within S/4HANA and SAC for practical real-time FI reporting use cases. 

Real-Time Reporting in S/4HANA Finance: 5 Key Advantages for Your Business
ERPfixers Blog Series
ERPfixers
Using Predictive Accounting in S/4HANA Finance

Predictive accounting enables you to take the most up-to-date data from areas in S/4HANA outside of Finance, such as Sales; other integrated products, such as SAP Concur; or external systems, and use it to predict future results at any time. You then have a better understanding of what your accounting results, at the end of the current period or quarter, might look like, and why. 

Using the postings in the prediction ledger, along with the actual data from the underlying ledger, you can predict future figures, such as the revenue forecast for one product. It is also possible for you to see a report of all line items for one product. You can display and analyze the data in detail but also at a higher level, for example, in a financial statement. Since all postings, such as expenses or revenues, both actual and predicted, are stored in one place, the universal journal, you can drill down from your profit and loss statement or your balance sheet to the individual journal entries in the general ledger and display the corresponding line items.

Using Predictive Accounting in S/4HANA Finance

Local Fields in SAP Queries

When creating SAP query reports using Tcode SQ01, it’s sometimes necessary to create what is referred to as ‘Local Fields’. Read more about this process here.