Co-Authored by Ying Shi Shi and Gabriele Walla

We in SAP Product Engineering are happy to announce the general availability of SAP S/4HANA for Group Reporting 2023 on October 11, 2023. In this release, we delivered new features from consolidation preparation to data analysis.

We would like to highlight some features in each consolidation phase below:

Consolidation Preparation 

First, we can have a look at the new features for master data maintenance:

For consolidation units, the length of the consolidation name is extended from 6 characters to 18 characters so customers can maintain more meaningful names.

In the Assign FS Item Mappings app, you can now change the G/L account mappings in special periods.

One very useful new function is reference nodes in global hierarchies. In one hierarchy, users can reference a hierarchy node of another hierarchy. For example, users need to maintain a global cost center hierarchy, but the regional hierarchies are maintained by different people. Then in the global hierarchy, users can import the regional hierarchy nodes as reference nodes in the global hierarchy so the changes to the regional hierarchies can be synchronized automatically to the global hierarchy. Especially for profit center and cost center hierarchy types, corresponding accounting hierarchy nodes can be referred to and so simplify the data maintenance work.

Group reporting now also offers the currency changeover function separately from the rest of Finance to convert a currency to a different currency, such as when the national currency of a country/region changes.

Data Collection

In data collection, the Data Release task is used to release the data from accounting universal journals to group reporting. You now can use the configuration step Define Mapping for Journal Entry to Group Journal Entry Fields to enhance the data fields mapping. In this activity, you map the journal entry fields in the accounting journal to the corresponding journal entry fields in the group journal. For example, you add a new custom field to both accounting and group reporting. Then you can map these two fields, so the system knows how to transfer the value.

Additionally, in the consolidation version, it is possible to define which amount and quantity fields should be transferred to group accounting amount and quantity fields. This gives you a higher flexibility of data transfer when data is released from accounting to consolidation.

There are also new features for data correction, for example, enhancements in realignment for preparation ledger, and the data check when correction data is uploaded.

Consolidation-unit-specific rates and posting date spot rates used in currency translation are possible now. A new BAdI is also provided to select a specific exchange rate during currency translation. All these new features help customers cope better with translation special needs.

One more function we want to highlight is the Manage Workflows for Group Journal Entries app. Customers can now use workflows to approve group journal entries to conform to the dual control principle. You can configure the workflows flexibly by many attributes, such as amount, document type, and so on.

Consolidation 

The reclassification task used most is enhanced. It now allows users to perform the reclassification according to the sign of the balance, to the FS item predefined offset FS item. For example, you can reclassify the bank account negative or credit side balance to the offset account with breakdown of the house bank. Furthermore, users can use a Jason object to maintain an advanced condition in reclassification method, which gives higher flexibility on controlling how the reclassification task is to be executed.

You can change the consolidation method for a consolidation unit in the Manage Group Structure app and in the Import Consolidation Master Data app. Such a change has effects on various areas, such as consolidation of investment, preparation of group change, and so on. For more details, please see the application help.

Customers who use the activity-based consolidation of investment get automation of more tasks: The system can calculate goodwill in local currency and subsequently calculate currency translation reserve adjustments from goodwill.

Analytics

The highly expected analytical app Group Financial Statements Review Booklet is pilot released in 2023 FPS0 via note 3352282. Customers can try the much more user friendly and powerful Fiori app, which integrates Analytics components powered by SAC. The app is planned to be released officially with 2023 FPS1. Watch our demo on YouTube.

The most frequently used Display Group Journal Entries app is optimized with two tabs: One to display the journals persisting in the group reporting table only, the other tab is both for group reporting journals and accounting journals.

Group Reporting Data Collection (GRDC)

As one important part of the group reporting solution, the Group reporting data collection product quarterly releases new features. By the time of the release of SAP S/4HANA 2023, many new features in form design, data collection and data mapping have been released and used by customers. For more details, please check the latest GRDC help doc.

Others

Besides the above new features, there are also other new features released to help customers extend the solution or ease implementation, such as a new CDS view and API . A tool to help migrate Financial Consolidation consolidated data to Group Reporting is also released.

In summary, in the 2023 release, we delivered many new features ranging from master data maintenance to migration. For more details, see the What’s New and the 2023 feature deck attached below.

We hope you like these new features and wish you a successful journey in using Group Reporting.

More information

For more information about SAP S/4HANA Finance for group reporting release 2022, refer to the following:

• What’s New in SAP S/4HANA 2023
• SAP S/4HANA Finance for group reporting 2023 feature deck
• SAP S/4HANA Finance for group reporting 2023 documentation on SAP Help Portal
• SAP S/4HANA for group reporting Road Map Explorer
• SAP S/4HANA for group reporting Product Strategy

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