What is SAP S/4HANA conversion?
SAP S/4HANA finance conversion is migrating from SAP ERP Financials to SAP S/4HANA Finance. The modification involves moving all the existing financial data from the current system to the new S/4HANA system and implementing the new features and functionality of SAP S/4HANA Finance.
It includes simplifying processes, streamlining financial operations, and leveraging the latest technology. SAP S/4HANA finance conversion process typically involves a detailed analysis of the existing financial setup, followed by careful planning and implementation.
Below is the sap s/4hana finance checklist to be considered for a successful S/4 conversion by an SAP S/4HANA Finance Consulting company in UK like iQuantM.
Ensure that you consider these this SAP S/4HANA Finance cut-over checklist to streamline the conversion process:
We want to cover a few critical cut-over checklists to be considered for a successful SAP S/4HANA Finance conversion. Most of you would have gone through the essential changes in S/4HANA Finance from a finance perspective. Therefore, I want to reiterate some of the key areas below.
(i) New Asset Accounting
(ii) Material Ledger is mandatory, but Actual costing is optional
(iii) Change in Cash Management functionality
(iv) Universal Journal – Single source of truth. etc
We could find enough SAP Intelligent Finance articles around the internet to understand the functionality changes.
Hence, this article will cover the critical areas from an SAP Intelligent Finance perspective.
The crucial segments
a. No more than one Asset fiscal year can be kept open before converting to SAP S/4HANA Finance.
b. ASKB- Periodic asset acquisition to be posted before conversion. If not, you will end up in error during RASFIN_MIGR_PRECHECK; As most of you know TCode ASKB is obsolete in S/4 HANA and the Acquisitions are posted on real-time to leading and non-leading ledgers.
c. If you manage additional ledger and other currency in your Finance (OB22) and have not maintained a separate depreciation area for managing the different currencies. The system will stop you from conversion unless you create a new depreciation area for the chart of depreciation in SAP S/4HANA Finance solutions.
d. Depending on the number of the active entity which uses asset accounting, we need to qualify if the new asset accounting migration can be done along with SAP S/4HANA Finance conversion. If the volume of data and the number of an entity using Asset Accounting is higher, it is always advisable to migrate to New Asset Accounting before S/4 conversion.
e. If material Ledger is already active in ECC, before conversion and SAP S/4 HANA Implementation, we must ensure that the Unit of measure between CKMLPP and MARA is the same. If the UOM and Price change forcefully using CK24 after the month-end closing. Then the pre-conversion consistency check will throw an error. You need to get SAP’s help to resolve the same.
SAP S/4HANA’s emergence
SAP S/4HANA Solution for Financial Services has been an excellent tool for businesses with multiple branches across the globe. As a result, they were able to create a niche for themselves among their customers.
SAP S/4 HANA Implementation partner streamlines all the financial processes and has been more straightforward than ever. As a result, businesses have foreseen many changes in recent days.
Hence with SAP S/4HANA Finance solutions, you can take your business to new heights. Moreover, you have the liberty to build explanations of your choice.
Using SAP S/4HANA Finance solutions, handling your business has never been easier than now. Be it currency conversion or month-end closing, you can get the best answers from SAP S/4HANA.
It wouldn’t be difficult to process your sales duties with the SAP S/4 HANA Implementation partner in the UK and get the maximum out of it. You have all the access you need to build a streamlined process. Hence it is time to leverage SAP Intelligent Finance solutions for your business.
Concluding about SAP S/4HANA Finance cut-over checklist
We need to consider these few cut-over checklists before S/4 conversion through the SAP S/4 HANA Implementation services.
Reach out to iQuantM SAP S/4 HANA Solution for the UK’s finest SAP S/4 HANA Implementation services.
Also, get relevant guidance from an SAP S/4HANA Finance Consulting company to understand more about handling the Finance Cut-over during your SAP ECC to SAP S/4HANA Conversion process.
