Optimize Your Statutory Reporting Tasks Using SAP S/4HANA for Advanced Compliance Reporting

  • by Gaurav Agarwal, Principal Consultant, SAP S/4HANA Finance, Infosys Limited
  • December 30, 2017
In multinational organizations, reporting requirements are increasing day by day. Keeping track of all the reports generated and submissions can consume a lot of time and resources. The reporting format also changes over time due to changing regulations, and compliance with this format is of the utmost importance. Learn how to use SAP S/4HANA for advanced compliance reporting to meet your business needs for statutory reporting.
Learning Objectives

By reading this article, you will learn:

  • The various reporting functionalities available in SAP S/4HANA advanced compliance reporting
  • Example flow settings and the process to generate the report from SAP S/4HANA advanced compliance reporting
Key Concept
SAP launched SAP S/4HANA advanced compliance reporting for the on-premise version of SAP S/4HANA 1610 in Feature Pack Stack (FPS) 01. SAP S/4HANA for advanced compliance reporting helps you to meet your compliance reporting requirements. The framework consists of a business application and technical or key user applications.

SAP S/4HANA is continuously innovating the way business transactions can be performed and integrated in a digital world. In today’s global environment, each country has its own local reporting requirements, such as 1099 MISC (miscellaneous income) reporting in the US, GST (goods and services tax) reporting in Malaysia, withholding tax reporting in Japan, and so on. Therefore, for multinational organizations it is risky and time-consuming to keep track of all such reporting requirements without adding more operational costs. SAP S/4HANA for advanced compliance reporting can help you reduce manual intervention and monitoring of various reporting needs in a unified manner.

SAP S/4HANA for advanced compliance reporting and the corresponding country-specific reports are available from the on-premise version of SAP S/4HANA 1610 Feature Pack Stack (FPS) 01 onward via SAP Note 2435114. The model contents are not available for the SAP-delivered reports if you have not opted for the content delivered through Scale, Enablement and Transformation (SET). You need to implement SAP Note 2460073 to get the required model content for SAP S/4HANA for advanced compliance reporting. From the on-premise version of SAP S/4HANA 1709, these SAP Notes are pre-installed. SAP S/4HANA for advanced compliance reporting offers the following features to help you meet business needs for statutory reporting:

  • A unified user experience and single point of entry for data for various supported countries
  • Automated notifications for reports due for submission
  • Complete audit trail for reporting compliance
  • Easy handling of multiple varied legal reporting formats
  • Framework extensibility by defining compliance reports
  • Electronic verification and submission to government authorities
  • Embedded analytics and a compliance monitor
Note
SAP S/4HANA for advanced compliance reporting, was previously known as Statutory Reporting Framework (SRF). With the on-premise version of SAP S/4HANA 1709, SAP has differentiated SAP S/4HANA for advanced compliance reporting with two versions:
  • Basic compliance reporting: Part of the SAP S/4HANA digital core and thus does not need an additional license
  • Advanced compliance reporting: You need an additional license to use additional features for compliance reporting compared with basic compliance reporting, such as data preview, audit trail, and many more that are on SAP’s roadmap.

Table 1 summarizes the various statutory reports in SAP S/4HANA for advanced compliance reporting.


Table 1
Various statutory reports under SAP S/4HANA for advanced compliance reporting

Gaurav Agarwal

Gaurav Aggarwal is SAP S/4HANA lead consultant at Infosys Limited. He has more than 14 years of experience, including 11 years in SAP Finance. He has expertise in both SAP FI and Controlling (CO) with integration to other modules in manufacturing and process industries. He is a chartered accountant and SAP Certified Financial Consultant. He holds a bachelor’s degree in commerce and is a techno-functional expert with thorough knowledge of the necessary ABAP for functional experts. He is a veteran in G/L, AR, AP, banking, FA, Travel Management, and closing cockpit and has handled greenfield implementation, upgrades and conversions, rollouts, and support projects.

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