External Financial Accounting

Financial Accounting contains the general ledger, including the chart of accounts; and sub-ledgers for accounts receivable, accounts payable, and fixed assets.

This building block provides all the basic settings that are required for the external financial accounting processes. The new general ledger accounting is activated. The general ledger is fully integrated with the FI subsidiary books and controlling (real time integration with FI). The chart of accounts and the complete FI account determination is provided here.

This building block covers the following configuration settings:

Financial Accounting Global Settings (New)

• Ledgers
• Global Parameters for Company Code
• Document
• Tax on Sales / Purchases
• Correspondence

• General Ledger Accounting (New)
  • G/L Accounts, customer accounts, vendor accounts
  • Business Transactions
    • General ledger accounting
    • Accounts receivable accounting
    • Accounts payable accounting
  • Periodic Processing
• Bank accounting

• Complete master data definitions and configuration needed to set up processes in financial accounting
• Configuration for period end closing processing is included
• Fully integrated with controlling