Top 10 things to know about SAP Central Finance

If SAP Central Finance is a deployment option that you are considering for S/4HANA Finance, it is necessary to have a strong grasp on how it functions. Keeping that in mind, I thought I’d do a recap of a recent session that David Dixon presented at the Financials 2016 meeting to highlight the 10 essential things you need to know about Central Finance.

1. Previously called the SAP Central Journal, Central Finance is a product and a deployment option for S/4HANA Finance that breaks out the Finance and Controlling (FI/CO) applications for the rest of SAP ERP as a sidecar via SAP Landscape Transformation (SLT) replication.

2. Central Finance is a means to implement S/4HANA Finance without interrupting your existing resource SAP ERP systems (but does need installing a DMIS software component and SAP Notes).

3. As an example use case, Central Finance can be used as a useful migration option, a versatile coverage platform for mergings and procurements, and a shared services system.

4. Standalone BW and BPC financial investments require information move through batch Extract, Transform, and also Lots * (ETL) jobs while Central Finance is via real-time replication of FI/CO documents.

5. Fiori, HANA Live (or the new S/4HANA Analytics), SAP BW, and SAP BPC can all be integrated in real-time at the document level with financial controls and integrity that includes general ledger along with error and correction handling before posting by means of Application Integration Framework (AIF) functionality.

6. Central Finance includes one physical document for real-time processing and analytics and merges FI and CO together into a singular line product table for “single source of truth” known as the “Universal Journal”.

7. In Central Finance, the accountancy interface is directly duplicated to the Universal Journal which lowers the requirement for settlement, integration, set handling and also data replication.

8. Master data management is handled by Master Data Governance (MDG).

9. A central finance publishing looks the same as an SAP ERP financial posting yet is connected back to the source system through a reference to the document number key of the resource document and logical system to which it belongs.

10. Central Finance is capitalizing on solutions that were already centrally handled such as Financial Close Cockpit, Intercompany Reconciliation (ICR), as well as Financial Supply Chain Management(FSCM).

Conclusion

This brings us to the end of this article. If you want to figure out more about SAP Central Finance, feel free to visit our website.

We at ZaranTech offer a self-paced online training program for SAP Central Finance, where individuals get trained on various aspects of SAP HANA including the deployment and more.

Happy Learning!