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Highlights:
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The blueprint blue print Financial Accounting deals with requirements related to financial accounting, taking GAAP-specific requirements into account.
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The financial accounting provided is event-based: journal entries , which cover that cover the entire life cycle of a financial or non-financial deal , are generated on the basis of business events and periodic accounting events.
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For both steps, the individual configuration of accounting logic and general ledger account assignment rules is supported. This enables an entity to consider the individual accounting policy and to use an individual chart of accounts.
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Figure: Functional process steps of the accounting rules engine
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For details about supported types of accounting transactions, please read more in the manual: Accounting Transaction.
Accounting logic
The accounting logic links the accounting transaction with the set of entries.
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In the setup of the set of entries, the individual entries are defined as follows:
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