SAP Financial Accounting (FI) is a solution that allows you to perform business transactions, keep records of the company's assets and liabilities as well as generate financial statements.
With SAP FI, enterprises organize financial accounting in accordance with national and international legislation and tax codes.
National accounting is an approach to financial reporting that implies the preparation of reports complying with national standards.
Tax accounting is conducted together with the national and is aimed to optimize tax accounting processes.
SAP FI allows companies to receive all the necessary reporting in the shortest time and solve all financial issues related to cash flow, including profits, costs, payroll, taxation, etc.
The benefits of financial reporting with SAP FI include:
Full transparency of all processes in the system
Each transaction is reflected in the system, which means that even in case of reversal, utmost transparency in actions is achieved.
Creating documents in non-leading ledgers
Users receive only reliable information.
Valuation of fixed assets, intangible assets, capital investments, and stocks
SAP FI makes it possible to maintain various cost estimates for fixed assets and stocks without double data entry. The SAP FI-AA (Asset Accounting) component helps to predict the residual value of fixed assets for the required time period.
Parallel currencies in accounting
SAP FI allows accounting in several national currencies while meeting several standards (national, international, and administrative).
Fiscal and calendar year
The system provides a flexible tool to generate fiscal year periods that differ from calendar.
One-time data entry into the system
Integration of FI with other SAP modules eliminates the possibility of duplicated information and allows easily moving from a financial document to primary (purchasing, sales, warehousing, production, etc.), thus providing the ability to review information from different analytical perspectives.
After each SAP FI implementation, we witness that this module is an ideal solution for the facilitation of financial and tax accounting operations. To help companies automate and improve tax accounting processes, the LeverX SAP FI experts have implemented the following tax types:
The geography of our clients with delivered SAP FI solutions covers Belarus, Russia, Ukraine, Uzbekistan, Lithuania, Latvia, Switzerland, Germany, Azerbaijan, Georgia, Kazakhstan, and Romania.
Thanks to hands-on expertise and a large number of completed projects in these countries, the LeverX team is well aware of all the taxation peculiarities in various regions. This allows us to implement SAP FI in the shortest time, taking into account the specifics of the company's business.
We will be happy to answer all your questions about the SAP FI module and its beneficial potential for your business!