Harmonized Financial Reporting
Central Finance provides harmonized financial reporting allowing you to report on financial figures that originate in different source systems. Interfaces are used to feed data from the source systems into the Central Finance system.
The source systems often have different Customizing settings and un-harmonized master data but before reposting the data to the Central Finance system, master data mapping takes place to harmonize the master data. As a consequence, harmonized financial reporting can be achieved across the entire group.
For more information on master data mapping, see Mapping in Central Finance.
Features
Reposting from Source Systems to the Central Finance System
The figure below shows the interfaces that feed data from the source systems into the Central Finance system and is followed by an explanation:
The interfaces that feed data from the source systems into the Central Finance system include the following:
An interface for reposting Financial Accounting/Management Accounting (FI/CO) postings
When you post financial documents in the source system, this interface is used to repost these FI documents as new FI documents in the Central Finance system. If these posting are also relevant for CO (for example, expenses on cost elements), the CO postings are also updated in the Central Finance system.
An interface for reposting secondary CO postings
This interface is used to repost CO postings that are not always entered in FI in the source systems, for example, postings on secondary cost elements.
An interface for cost object mapping
This interface is used to map certain cost objects such as production orders, internal orders, and quality management orders to corresponding cost objects in the Central Finance system.
Flexible Reporting Based on Line Items
Posted documents are stored using the universal journal entry for Central Finance allowing for flexible reporting based on line items rather than on preaggregated totals.
Central Cost Object Reporting
In Central Finance, cost object mapping is used to map similar cost objects to a central cost object, for example, individual productions orders of the same type are mapped to a product cost collector. As a result, you can report on costs directly on the central cost object.
CO postings for both primary costs and secondary costs are replicated to the Central Finance system allowing you to allocate costs between cost objects that originate in different source systems. Therefore, you can report on overhead costs across the entire group and you no longer need to pull individual reports for each source system.
For more information on cost object mapping, see Cost Object Mapping.