Managing Financial Statement Versions

In connection with the reporting of balance sheet and P&L figures, Greg has already familiarized himself with the use of the financial statement version in the SAP system.

Now he wants to get an insight into the structure of a Financial Statement Version. In the company, the Manage Global Hierarchies app is used for this.

Greg will need to execute reports on the financial results at month end, using various SAP Fiori apps.

Financial statements are official reports that you are required legally to output. To meet the different reporting requirements, various financial statement versions can be created in the SAP system.

In these financial statement versions, you define exactly which accounts are to appear in which line items of the financial statement. Many financial statement versions are included in the SAP system.

The app Manage Global Hierarchies is a single point of entry for the maintenance of different hierarchies in the SAP system.

The Manage Global Hierarchies app allows you to create and edit hierarchies based on attributes defined by master data quickly and easily. You can create cost center, profit center, functional area, and Financial Statement Version (FSV) hierarchies, for example.

The app Manage Global Hierarchies is a single point of entry for the maintenance of different hierarchies in the SAP system.

The Manage Global Hierarchies app allows you to easily create, edit and display hierarchies based on attributes defined by master data. You can create cost center, profit center, functional area, and Financial Statement Version (FSV) hierarchies, for example.

The following video shows you how you can display a Financial Statement Version using this app.

When you create a Financial Statement Version, you need to set the following attributes:

• Financial Statement Version ID
• Chart of Accounts
• Valid From and Valid To Date
• Allow Contra Nodes
• Allow Functional Areas

In addition, the system automatically provides the following nodes (That is why we call them Special Nodes):

• Assets
• Liabilities
• Net Result: Loss
• Net Result: Profit
• P&L Result
• Financial Statement Notes
• Accounts Not Assigned

Some of these Special Nodes are used to calculate results, or the assignment of G/L accounts are determined automatically. These are:

• The Net Result: Loss and Net Result: Profit, which calculates the result in a balance sheet
• The P&L Result, that reports the balances of all accounts in the Profit and Loss Statement
• Accounts not assigned

Maybe you are wondering why a Financial Statement Version Node "Accounts not assigned" exists?

Answer: You forgot to assign a G/L account to the Financial Statement Version, for example. After the balance sheet report has been executed, this account is automatically displayed under this node.

This node allows you to see whether all relevant accounts have been assigned.

Because Greg is now familiar with the functions of the balance sheet and P&L statement, he receives inquiries from colleagues like the following two e-mails:

"Hi Greg, is it possible to display accounts with a Zero -balance in the Balance Sheet / Income Statement app?

or

"Hello Greg, I need to download the Financial Statement into a spreadsheet. Could you help to do this?

That’s why Greg created the following exercise answering his colleagues’ most important, recurring questions in a concise and compact manner.

To analyze general ledger account transaction figures based on financial statements, you need to know how to create financial statements using the following SAP S/4HANA Reporting apps:

This app reports the Balance Sheet and Income Statement in different currencies based on the operating, country, and global chart of accounts. You can navigate to various line items of the G/L accounts, customer, or vendors accounts, and you can export data as PDF.

It is also possible to compare actual and plan data.

This app analyzes your actual and plan data for multiple company codes using a wide range of dimensions (e.g., Profit Center, Segment, Currency, or Functional Area) in a pivot mode. It is also possible to export data as PDF or spreadsheet.