How To Reconcile GL Accounts in SAP

Why Reconcile General Ledger (GL) Accounts At All? The financial statements of your business provide the basis for key decisions by internal and external stakeholders . GL account reconciliation is essential to ensure that GL accounts (and the resulting financial statements) are accurate at month end / period end. During the financial close process, incorrect, missing or unauthorized entries need to be identified and corrected. Accruals and adjustments are posted. SAP balances and transactions are validated against financial statements and external system data. Besides [...]

2021-10-11T09:22:05+00:00October 6th, 2021|

GL and Vendor Reconciliations in SAP with BEST – News

Download the Full Newsletter on GL and Vendor Reconciliations in SAP with BEST for September 2021 here. CERTIFICATION & RECENT ADVANCES ON GL AND VENDOR RECONCILIATIONS IN SAP WITH BEST CONFERENCES/TALKS - 2021 BEST GL MODULES – PROJECTS BEST AP (Vendor Recons), BSR, BIR & BSP MODULES - PROJECTS INDUSTRY & COUNTRY LISTING CLIENT LISTING BEST is now certified on S/4HANA 2020 and re-certified on NetWeaver 7.50. BEST GL Clearing & GL Recons Module Enhancements: Two new additional fields, Posting Period & Fiscal Year, [...]

2021-10-11T09:21:36+00:00September 8th, 2021|

General Ledger Reconciliation in SAP – Dis-Chem’s Story

General Ledger Reconciliation in SAP - Dis-Chem's Story With the BEST GL Recons and Clearing Modules Dis-Chem now automates 2 000 monthly GL Recons in SAP and clearing of 160 000 open items takes place monthly. No more manual excel for Dis-Chem. Dis-Chem presents their BEST story at Mastering SAP Financials 2021. See how Dischem: Has cleared large volumes of historic items with BEST GL Clearing resulting in: Reduced volumes of open items in month end recons Reduced time to reconcile Intercompany balances, allowing for [...]

2021-10-11T09:21:12+00:00May 21st, 2021|

General Ledger Reconciliation in SAP: Mastering SAP

We were able to record Chris Brooks' talk on how to automate General Ledger Reconciliation in SAP if you weren't able to make the Mastering SAP Financials Online Conference 2020 this year. Traditionally SAP users have had no option but to reconcile balance sheets and other GL accounts outside of SAP. This meant downloads to Excel or interfaces to 3rd party systems. Now personnel time can be saved by automating General Ledger Reconciliation directly in SAP, using BEST GL Reconciliation add-on module. No more [...]

2021-10-11T09:20:46+00:00November 4th, 2020|

Managing Intercompany Balances in SAP

Managing Intercompany Balances in SAP is a critical business function that needs to be managed at multiple levels within your organisation. From the entry of transactions through to your Group Accounting Consolidations, having tight controls and automated tools to assist are a great advantage. The BEST GL Reconciliation module provides functionality to manage and approve your Intercompany Reconciliations all within SAP. Using the BEST Intercompany Matrix functionality, you can maintain complex Intercompany relationships to be able to: ·        Run an Automated Reconciliation for each [...]

2021-10-11T08:35:07+00:00August 17th, 2020|

Clear Customers in SAP

“Clear Customers in SAP – can you help?” When discussing clearing of open items in SAP with our Clients, one common question arises is because of the following common issues across SAP businesses managing their Customer Accounts: ·        A single lump sum payment is made into the bank account. ·        This payment may be for multiple customer accounts. ·        A detailed Remittance is sent for the payment - detailing numerous Invoices, Credit notes, discounts etc. And finally, and most importantly: ·        Someone spends a [...]

2021-10-06T13:49:12+00:00August 14th, 2020|