Introducing Finance and Intercompany Project Control

Objectives

After completing this lesson, you will be able to:

  • Explain how SAP S/4HANA helps control Finance and Intercompany Projects

Project Control: Finance and Intercompany Projects

Overview Project Control for Finance and intercompany

Companies run projects to plan and coordinate the work, staff employees, and track project progress and costs. In this scenario, a Work Breakdown Structure (WBS) as an accounting structure is created. Planned project costs can be uploaded by the project financial controller.

After releasing all or part of the project, the project is executed and project-related purchasing can be performed.

In Finance, you can enter direct activity allocations or general journal entries with regard to project WBS elements. The project financial controller monitors the project costs. At period end, depending on the type of project different period-end closing activities, such as overhead application or settlement, can be executed for a project. At the end of the project, the financial controller completes and closes project parts and finally the complete project.

Watch the following video to understand how your company could benefit from Project Control for Finance.

Log in to track your progress & complete quizzes