Thousands of the world's best-run businesses rely on the SAP ERP Financials solution as the foundation for their enterprise financial management requirements. Core financial functions include financial and management accounting and reporting, as well as integrated accounts receivable and payables management. Embedded internal controls and automated processes help speed period-end accounting tasks.

Robust workflow and process management functionality provides comprehensive control over the financial closing cycle. This control helps reduce cycle times and resource costs – while ensuring the highest levels of confidence in financial reporting and regulatory compliance.

SAP ERP Financials supports multiple languages and currencies, as well as international financial reporting standards and regulatory requirements.

Financial and management accounting help you manage these processes:

• General ledger
  • Supports legal, managerial, and segment accounting and reporting
  • Supports multiple parallel ledgers for local GAAP, IFRS, tax, and US-GAAP processes
• Accounts receivable
  • Records and manages customer invoicing and collection processes
  • Integrates with SAP General Ledger and SAP Financial Supply Chain Management applications (SAP FSCM)
• Accounts payable
  • Records and manages supplier invoicing and payments
  • Integrates with the SAP General Ledger and SAP Treasury applications for straight-through payments processing
• Contract accounting
  • Helps you manage accounts receivable processes for your high-volume, recurring time- or quantity-based billing, as well as direct debit-billing scenarios
  • Reduces operational costs by minimizing manual work and increasing automation in recurring billing and rejected direct debit handling processes in a single subledger