| ERP implementation term itself suggests | | | | posting in Journal Voucher |
| something hard or at least not easy or not | | | | |
| pleasant things to do. However if you are | | | | 3. Business Partners. As in SB1 you have |
| installing SB1 it is more likely not going to | | | | business partners, such as customers, vendors |
| be the case, as installation, initial | | | | and leads in the same functionality (which by |
| balances entry and modules settings are | | | | the way enables customer/vendor consolidation |
| relatively intuitive and users or trainees | | | | via internal reconciliation for multiple |
| are quick in getting basic SAP BO interface | | | | partners in one screen) - they are typically |
| navigating skills. In this small article we | | | | reviewed in Financials training |
| would like to give you highlights on | | | | |
| Financials module | | | | 4. Financial Reporting. Here, besides |
| | | | standard and expected Balance Sheet, Profit & |
| 1. General Ledger. Accounts. Each account | | | | Loss, Cash Flow and Trial Balance, you have |
| you can classify as Title or Active account. | | | | such cool features as Comparison reports (BS, |
| Titles are simply to say headers of the | | | | P&L and Trial Balance only). Comparison |
| groups and active account is the one, where | | | | report allows you not only compare two |
| you can post your transactions. Active | | | | different periods, but also compare two |
| accounts you associate with category (such as | | | | different companies, which is not what you |
| Balance Sheet->Cash for instance), categories | | | | commonly find in other ERP packages |
| as you can see allow you to build P&L, BS and | | | | |
| Cash Flow reports automatically. Plus you | | | | 5. Collection management. In SB1 you have up |
| can include the account into Analytical | | | | to 10 levels of dunning or collection letter |
| accounting by making it associated with the | | | | formats, which you can setup for the |
| Project. If you select the Project, then | | | | delinquent account in sequence of collection |
| account transactions will be included into | | | | attempts. Collection management is not a |
| project financial and managerial reporting. | | | | separate module, it is integrated in |
| If you ask how it is possible - the answer is | | | | Financials, as Financials itself is tightly |
| this - SB1 also requires you to specify | | | | integrated with Business Partners section, |
| account type: Other, Sales or Expenditure - | | | | where customers are. |
| this is how you can include the account in | | | | |
| Project P&L | | | | 6. Multicurrency. This functionality is |
| | | | really on the advanced level, comparing to |
| 2. Journal Vouchers. In SAP Business One you | | | | other small business MRP packages in US. |
| do not have direct mechanism for batch | | | | This is probably attributable to the fact, |
| processing, however on the level of the | | | | that SAP Business One is very popular in |
| modules you can use various transactions | | | | international environment. Multiple versions |
| grouping and saving. In GL, for example you | | | | of currency revaluations are very impressive. |
| save transactions for future review and | | | | |