accounting

Accounting is part of the annual financial statement of every company. Thereby the Profit and loss account compared with the company's development and thus successes are measured. The balance sheet is always prepared at a specific point in time.

the accounting in SAP Business One comprises all functions for recording, managing and analysing a company's financial situation. It is based on the chart of accountsthe ledger accounts and the Financial reporting and is part of the module finance.

Central components

Balance sheet report

Available at Financials > Financial reports > Financials > Actual reports > Balance sheet
Representation of Assets, liabilities and equity
Selection by period (year, quarter, month, period), currency and accounting standard
Consideration of pre-collected documents possible
Real-time output with drill-down function to the account level

Trial Balance

Opening and closing balances, credits and debits per account
Inclusion of debtor and creditor accounts
Can be analysed via the module finance

Financial report generator

Customised design of reports, e.g. individual balance sheets
Flexibly customisable to internal reporting requirements

Structural basis: chart of accounts

Contains All G/L accounts to recognise assets, liabilities and equity
Account types: Income, expenses, other (Balance sheet accounts)
Field "Balance" shows the current account balance
Cash accounts such as cash or bank are relevant for cash flow

Fixed assets

Managed as a subledger to the general ledger
Accounting via Net book value = acquisition cost - depreciation
Disposals set the carrying amount to zero
Asset history sheet documents the performance as an appendix to the balance sheet

Postings and journal management

Journal entries document debit and credit entries incl. entry text
Automatic and manual recording of business transactions in the general ledger

Revaluation and currencies

Balance sheet reports can be Foreign currencies or indexed be displayed
Pure display, no accounting effect

Inventory on the balance sheet date

For correct accounting, the physical inventory of all assets required as of the reporting date
(counting, weighing, measuring).

Benefit

Detailed overview of the economic situation of the company
Flexible analyses by time period, currency and report type
Complete integration with accounting and asset management

Note

The quality of the balance sheet depends largely on the maintenance of the chart of accounts, the ongoing bookkeeping and the correct classification of accounts. Access to balance sheet functions requires appropriate user authorisations.

Versino Financial Suite

The Versino Financial Suite makes accounting in SAP Business One more efficient, transparent and secure. It automates many processes, improves data quality and expands analysis and reporting options.

FAQ-FINANCE-SAP BUSINESS ONE