SAP Simple Finance Tutorial | Ultimate Guide to Learn [Updated]

Last updated on 21st Jan 2022, Blog, Tutorials

(5.0) | 19850 Ratings 2072

Share:

• Introduction to SAP simple Finance
• About SAP simple Finance
• SAP Simple Finance ─ Key Features
• SAP Simple Finance – Functions
• SAP S/four HANA Finance
• Key features of the new architecture
• Certification
• Scope of SAP simple Finance
• Importance of SAP simple Finance
• SAP S / 4HANA Finance Transition
• Central Finance
• Conclusion

Introduction to SAP simple Finance :-

SAP Simple Finance offers a bookkeeping answer controlled through method of method for SAP HANA. S/four HANA finance accompanies unmistakable money and bookkeeping control systems and helps activities productively. With SAP S/four HANA Finance, you have the ensuing deliveries −

• SAP S/4HANA Finance 1605
• SAP S/4HANA Finance, On-Premise Edition 1503
• SAP Simple Finance Add-On for SAP Business Suite fueled through method of method for SAP HANA



About SAP simple Finance :-

SAP Simple Finance is in like manner alluded to as SAP S/four HANA Finance. With the release of 1605, SAP Simple Finance is easiest called S/four HANA Finance and this could be the least difficult call of various arrivals of SAP Simple Finance. During the set up of SAP S/four HANA Finance, various front-quit and back-quit added substances get introduced.




SAP Simple Finance ─ Key Features :-

Following capacities are to be had for SAP Simple Finance −

Monetary Planning and Analysis

• Utilizing SAP Simple Finance, organizations can utilize it to figure, plan, and funds as a continuous interaction. With the use of Predictive Analysis, you could figure the impact of business undertaking determinations at the monetary audits of the association.



Bookkeeping and Finance

• With the use of increment Finance and Accounting capacities, organizations can meet the lawful offense expressions and whole the monetary surveys on schedule.



Monetary Risk Management

• Utilizing Predictive Analysis, organizations can find the possibility in monetary techniques at an early level and instrument strategies to alleviate them. It is direct to find the top notch reasonable subsidizing accuses as in keeping of commercial center norms.



Hazard and Compliance Management

• Utilizing powerful monetary techniques, it is clear to save you unapproved get admission to tricky realities withinside the association. It is clear to find extortion and misuse, and organizations can proactively solidness the opportunity for the monetary methodology as a whole.



Specialized System Landscape

• SAP S/four HANA Finance is progressed essentially founded absolutely on SAP NetWeaver and SAP ERP Business suite. Following is the insignificant machine scene for backend of S/four HANA Finance (with out SAP Fiori and Smart Business application). SAP S/four HANA Finance involves ERP 6.zero to be modern to SAP ep8 for SAP ERP 6.zero and it’s miles firmly included with various ERP programs like Material Management, and Sales and Distribution.



Specialized System Landscape

• SAP S/four HANA accompanies a worked on realities model. The tables and records are disposed of and altered with HANA viewpoints withinside the basic information base. SAP S/four HANA Finance utilizes an in-memory processing strength of HANA. To run SAP S/four HANA, you really want to utilize the state of the art elements of ABAP age that incorporates NetWeaver 7.5.



Focal Finance

• Focal Finance is utilized to progress to SAP S/four HANA Finance with out affecting the contemporary machine display. For realities replication from supply machine to Central Finance, you want to utilize SAP Landscape Transformation Replication Server. You can utilize Software Update Manager (SUM) to complete the set up of SAP S/four HANA Finance and to do machine upgrades notwithstanding improvement bundle bargain establishments.



Learn Advanced SAP HANA Certification Training Course to Build Your Skills
Weekday / Weekend BatchesSee Batch Details
• SAP S/4HANA Finance is a monetary application in the SAP S/4HANA ERP stage. It comprises of a bunch of interconnected monetary administration works that give constant information from the endeavor asset arranging (ERP) applications. SAP S/4HANA Finance is essential for S/4HANA and is based on the SAP HANA in-memory information base stage. S/4HANA coordinates cross-hierarchical capacities into one framework that consolidates value-based cycles and examination for continuous applications. For the front end, SAP S/4HANA Finance involves SAP Fiori for a shopper like and customized UX (client experience).





SAP Simple Finance – Functions :-

• Financial Planning and Analysis Using SAP Simple Finance, businesses can use it to forecast, plan, and price range as an ongoing process. With using Predictive Analysis, you may forecast the effect of enterprise selections at the economic reviews of the organization.


• Accounting and Finance With using boost Finance and Accounting functions, businesses can meet the legal phrases and whole the economic reviews on time. Financial Risk Management Using Predictive Analysis, businesses can locate the chance in economic strategies at an early level and tool approaches to mitigate them.


• It is straightforward to locate the high-quality viable investment charges as in step with marketplace standards. Risk and Compliance Management Using sturdy economic strategies, it is straightforward to save you It is straightforward to come across fraud and abuse, and businesses can proactively stability the chance for all of the economic strategies.


• Technical System Landscape SAP S/four HANA Finance is advanced primarily based totally on SAP NetWeaver and SAP ERP Business suite. Following is the minimal device panorama for backend of S/four HANA Finance (without SAP Fiori and Smart Business application).



SAP S/four HANA Finance:-

• Focal Finance is utilized to change to SAP S/4 HANA Finance without affecting the current framework scene. Utilizing Central Finance, you can execute a typical revealing structure by planning the normal substances in the nearby framework to a typical arrangement of expert.
• Information in the Central framework. For information replication from source framework to Central Finance, you need to utilize SAP Landscape.
• Change Replication Server.Finance and to perform framework overhauls just as upgrade bundle establishments.
• SAP Simple Finance provides significant cost and time savings for financial and accounting management. It uses SAP HANA compute power. Universal magazine combines all the advantages. The quality of the accounting component. All previous SAP financial accounting tools Without the HANA platform, components are managed separately due to technical limitations.



Key features of the new architecture :-

The following features are provided in the new SAP Simple Finance architecture Multidimensional reporting in universal journal without running data:

• Replication in BI. A universal journal as a single line item table with full details of all components. No. A comparison is needed and the data is saved only once. 3. SAPSimpleFinance ─ Architecture SAP Simple Finance 9 Further increase the structural potential of the financial solution MultiGAAP
• Currency etc. Support for existing ABAP programs or reports on previous tables with read access access.
• G / L Account BSIS Index BSAS index for ledger accounts (cleared entries)
• Customer BSID index
• Customer’s BSAD index (depreciate items)
• Vendor BSIK Index Supplier’s BSAK index (posted item)
• Deleted aggregate table: GLT0 General Ledger Total
• Preparing GLT3 summary data for integration
• KNC1 customer base (traffic figures)
• LFC1 Supplier Master (transaction number)
• Dropped another table: COEP cost advertising application information
• ANEP Fixed Assets: Line Items∙



SAP ERP Finance Experts (SAP S / 4HANA 1909) SAP S / 4HANA’s SAP Certified Application Professional Financial for certification exams is a candidate for independently preparing, setting up, and leading a financial implementation project for SAP S / 4HANA. Verify the ability. Candidates need at least 5 years of experience in implementing financial accounting and management accounting.

• In addition, candidates need to understand the differences and innovations in architecture, configuration, and business process execution with SAP S / 4HANA. Finally, the candidate can perform all the preparation and implementation steps of the project to convert the SAP ERP system to SAP S / 4HANA.


• The core of the knowledge required to pass the certification exam is included in the SAP Education curriculum (coursebook including courses and reference books), but the scope of the exam is explicitly included in the material. It is over. In addition, the material itself assumes that you are familiar with implementing, configuring, and executing SAP Finance business processes using the SAP ERP application.


• This certificate demonstrates that the candidate has the overall understanding and skills needed to become a qualified supervisor for the team promoting the implementation of finance in SAP S / 4HANA. Candidates also have all the skills needed to act as an application consultant and team member. remarks To ensure success, SAP recommends combining training courses with hands-on experience to prepare for certification exams.


• The question is to test your ability to apply the knowledge gained in the training. References are not available during the certification test (no access to online documents or SAP systems). Subject area Below is a list of topics that this certification can cover and the courses they cover. Their accuracy does not justify a legitimate claim. SAP reserves the right to update the content of the exam (topic, item, equalization) at any time


• System preparation and configuration for financial data conversion to SAP S / 4HANA> 12% SAP S / 4HANA financial conversion and post-conversion activity> 12% Architecture Overview SAP S / 4HANA Treasury> 12% Financial accounting structure of SAP S / 4HANA> 12% Management accounting structure of SAP S / 4HANA> 12% Asset accounting composition of SAP S / 4HANA 8% SAP HANA, SAP S / 4HANA, SAP Fiori 12sics & lt; 8% general information Exam Preparation All SAP Consultant certifications are available as cloud certifications in the Certification Hub and can be booked with product code CER006.


• With CER006 (SAP Certification in the Cloud), you can take up to 6 exams a year, anytime, anywhere. Exam dates can be individually selected and booked. Each specific certification has its own preparatory tactics. We define them as “subject areas” and are included in the description of all exams. The number of questions, the length of the exam, the area to be tested, and the recommended coursework and content to reference are displayed.





Certification :-

• The certification exam may contain unscored items that will be tested in future versions of the exam. These unevaluated items are randomly assigned to accredited topics and do not count towards the final grade. If you use unrated items, you will not exceed the total number of exam items advertised in the training shop. Please note that professional level certification requires years of work experience and covers real-world scenarios.


• See Frequently Asked Questions for more information. Overview of FAQ on Global SAP Certification SAP Global Certification FAQ Exam Process Frequently Asked Questions about Post-Exam Global SAP Certification Protecting the Value of Certification SAP Education has worked with the Certification & Enablement Impact Council to increase the value of certification and improve exams. More and more customers and partners are relying on certification as a reliable benchmark to protect their investments.


• Unfortunately, the growing demand for certification has led to an increasing number of people unfairly seeking SAP certification. This perpetual theme has given SAP Education a new focus on test security. Check out our post to understand what you can do to protect the credibility of your certification status. The Certification Test Security Guidelines help candidates understand their testing experience. Security policy



Get JOB Oriented SAP HANA Training for Beginners By MNC Experts
• Instructor-led Sessions
• Real-life Case Studies
• Assignments
Explore Curriculum

Scope of SAP simple Finance :-

• SAP S/4HANA Finance is SAP`s flagship financials answer and successor to SAP ERP Financials. First launched in 2014, it boasts many manner upgrades for the financials international, consisting of the creation of a unmarried supply of economic truth, real-time economic close, and predictive accounting. It turned into advanced to run off the SAP HANA platform and typically makes use of the SAP Fiori consumer interface.


• Table of Contents History of SAP S/4HANA Finance SAP S/4HANA Finance Innovations Changes from SAP ERP Financials Features Introduced in SAP S/4HANA SAP S/4HANA Finance Deployment Options On-Premise Cloud Two-Tier (Hybrid) SAP S/4HANA Finance Migration Options Greenfield Brownfield Central Finance SAP S/4HANA Finance Release Cycle Other Key SAP S/4HANA


• Finance Terms Additional Resources Blog Posts Books via way of means of SAP PRESS History of SAP S/4HANA Finance Originally termed SAP Simple Finance, the answer turned into released on the 2014 SAPPHIRE NOW era convention in Orlando, Florida. Nine months later, it’d go through a call extrade to SAP S/4HANA Finance while SAP introduced its new SAP S/4HANA company useful resource making plans platform, damaged down into traces of commercial enterprise which include finance, deliver chain, sales, and greater. Innovative capabilities of the primary launch of SAP S/4HANA Finance covered the Universal Journal that supplied a unmarried area to keep each economic and control accounting files with applicable details.


• This caused higher reporting, less difficult get entry to to KPIs used by managers, and cockpits tailor-made to precise stop customers to assist them make greater knowledgeable decisions. Since then, SAP has constantly constructed upon the inspiration of SAP S/4HANA Finance. Major every year releases have introduced new, revolutionary capability to the answer, and as of 2019, SAP S/4HANA`s modern-day capabilities consist of stepped forward economic remaining capability, centralized payables and receivables, predictive accounting, and greater embedded analytics. (Back to ToC.) SAP S/4HANA Finance Innovations Central to the SAP S/4HANA





Importance of SAP simple Finance :-

• Finance answer`s precise promoting proposition are the manner and reporting upgrades to be had way to SAP HANA. While a number of those had been simply processing pace upgrades—the SAP HANA database boasts analytics and reporting abilties which might be 1800x quicker than SAP ERP—many had been brand-new to SAP S/4HANA Finance. This consists of matters just like the Universal Journal, centralized processing, facts drilldown, and cappotential to combine a couple of ERPs into one area for facts collection.


• Universal Journal Overview Changes from SAP ERP Financials SAP turned into clean from the start that the “simple” in SAP S/4HANA Finance`s first generation turned into multifaceted. Those the usage of the brand new answer might discover now no longer best automatic, up to the moment economic reporting, however a streamlined facts version and light-weight architecture. Initial FI-CO capability stepped forward upon the prevailing ERP.


• This covered up to date economic making plans and analysis, accounting and economic close, treasury and economic danger control, collaborative finance operations, and company danger and compliance control. Features Introduced in SAP S/4HANA SAP S/4HANA Finance added to the economic international the tangibility of a unmarried supply of truth—this is, an aggregated overall of all economic facts throughout departments, ledgers, or even continents.


• This turned into enabled via way of means of SAP HANA`s cappotential to keep big quantities of facts in-reminiscence and to provide analytics reviews at a moment`s word for anybody with get entry to who desired it. This supplied on the spot price to accountants searching at modern-day and beyond activity, task managers jogging complicated initiatives on tight budgets, and planners searching to make use of beyond and gift numbers to forecast destiny expectations. (Back to ToC.) SAP S/4HANA Finance Deployment Options


• There are a couple of avenues via which SAP S/4HANA Finance may be deployed. Here`s a quick review of each. On-Premise An on-premise deployment encompasses conventional in-residence IT infrastructure models. This deployment version describes an example of SAP S/4HANA Finance this is bodily hosted on agency property.


• Cloud There are cloud alternatives for SAP S/4HANA Finance deployment, each of which contain the usage of outside cloud integration. In a public cloud deployment, a agency rentals a siloed piece of server area shared with different customers jogging SAP S/4HANA. In a personal cloud deployment, a agency rentals a completely unique server to run SAP S/4HANA.


• In each cases, the utility is owned via way of means of the patron however all control of the technical infrastructure is outsourced. Two-Tier (Hybrid) In a -tier or hybrid deployment, each on-premise and cloud deployments are utilized. This can be completed for some of reasons, consisting of checking out the feasibility of each times or web website hosting an on-premise deployment at headquarters at the same time as making use of a cloud deployment in a satellite tv for pc office.



SAP S / 4HANA Finance Transition :-

Depending on your company’s specific business needs, one of the following three migration options is most appropriate: These can be done with the help of internal or external consultants. Green Meadow In the Greenfield implementation, the SAP S / 4HANA system is built from scratch and initially contains no data. This is an implementation for all new SAP customers. Some existing SAP customers may opt for a green field implementation if they are using an over-customized legacy SAP ERP Financials system. brownfield site The brownfield implementation transforms the existing SAP ERP financial system into an SAP S / 4HANA financial system. This includes migrating financial data from legacy systems to SAP S / 4HANA. Companies that haven’t significantly customized their legacy systems may be attracted to this approach rather than starting from scratch.






Central Finance :-

The implementation of central finance connects the various financial systems of SAP ERP to a single central finance system. It mimics the single source of truth provided by SAP S / 4HANA Finance and enables you to leverage the benefits of SAP S / 4HANA Finance reporting and analysis on your data. SAP S / 4HANA Finance Release Cycle SAP S / 4HANA Finance receives several updates each year. Instances deployed in the cloud are updated quarterly, but on-premises deployments are updated once, usually in September. The naming convention for the SAP S / 4HANA release follows a four-digit year / month format. For example, version 1909 of SAP S / 4HANA refers to the version released in 2019 (19) and September (09). (Return to Table of Contents.)




Other important conditions for SAP S / 4HANA Finance In addition to the above information, you also need to know some important terms for SAP S / 4HANA Finance. These are in list format.

Actual costing: A method of assessing the materials used to manufacture a product based on a scenario. Actual costing with SAP S / 4HANA provides a more accurate valuation than the traditional accounting process for determining manufacturing costs.

Blockchain: Distributed ledgers and databases replicated over peer-to-peer networks that can improve accounting transparency.

Material Ledger: An auxiliary ledger that provides a detailed view of inventory transactions.

SAP Analytics Cloud: A cloud-based planning, analysis, and forecasting solution that integrates with SAP S / 4HANA allows users to view and analyze historical financial data.

SAP Concur: A travel and expense management solution used by employees to claim reimbursement of work-related expenses. SAP Financial Closing Cockpit: The latest SAP Entity Closing Solution for easier and faster reporting.

Universal Journal: A single repository of financial and other relevant information available to provide immediate insights into a company’s finances.






SAP HANA Sample Resumes! Download & Edit, Get Noticed by Top Employers! Download

Conclusion :-

• SAP Simple Finance is focused on for arrangement in the SAP HANA Enterprise Cloud to dynamically add the worked on utilization and start to finish client experience of cloud based applications. SAP, be that as it may, keeps on giving our clients decision as far as organization models and speed of progress for the general money arrangement portfolio. Clients can move their SAP HANA-based Finance scene to the SAP HANA Enterprise


• Cloud or convey the SAP HANA improved Finance capacities on top of their on-premise scene utilizing the financials add-on for SAP Business Suite fueled by SAP HANA for instance. New clients can go straightforwardly to the SAP HANA Enterprise Cloud to consume SAP Simple Finance as an oversaw administration in the SAP cloud, for certain parts of the SAP Simple Finance portfolio running in the public cloud, and different parts running as an oversaw administration in the SAP HANA Enterprise Cloud. In this manner we increment our clients’ capacity to broaden their current ventures with the cloud to accomplish new degrees of productivity and to empower new monetary cycles.