OverviewThe SAP Business ByDesign solution helps you integrate your core business processes and financials so that youhave a single, up-to-date view of the financial state of your business. This single source of corporate truth serves asa centralized general ledger with related subledgers and includes standard accounting logic. It helps you makeinformed business decisions and at the same time serves as the basis for your financial reporting.RelevanceThe Financial and Management Accounting business area is relevant if you need support for: ● General ledger ● Fixed assets ● Inventory ● Management accounting ● ConsolidationBenefits ● You gain company-wide integration of your business processes.With the SAP Business ByDesign solution, your company’s processes in areas such as purchasing,manufacturing, and sales are integrated seamlessly with your financials processes, including payables andreceivables processing, expense and reimbursement management, general ledger management, andinventory accounting. You have a single set of up-to-date data from which you can quickly view and report onthe financial state of your business. ● You make only one journal entry for a business transaction, and your books are reconciled at all times.You enter data related to a business transaction only once with SAP Business ByDesign – as a single journalentry in a single set of integrated books. These journal entries are valid for use by the general ledger and byrelevant subledgers of a set of books. As a result, your general ledger and subledgers are reconciled at alltimes, and you can always track a document back to where it originated. ● You have instant access to online, interactive, and comprehensive financial reporting and analytics.SAP Business ByDesign puts online, interactive reporting and analysis tools at your fingertips, giving youunparalleled visibility of your business operations at any level of detail. This transparency is enabled by thecentralized and standardized accounting logic within financial and management accounting. Your employeescan run financial reports whenever needed, create what-if analyses, and drill down instantly to details. ● You can easily maintain multiple sets of books using different accounting standards.The centralized general ledger within SAP Business ByDesign enables you to view the financial state of yourcompany through different sets of accounting rules – such as United States generally accepted accountingprinciples (U.S. GAAP) and International Financial Reporting Standards (IFRS). Centralized accounting dataallows your accounting department to efficiently manage the financial operations of your company andprovide the financial information that your management needs, quickly and easily. ● SAP Business ByDesign accelerates your period-end closing.The SAP Business ByDesign solution leverages tight connections with other business areas and built-inautomation to streamline the closing of financial periods. Your accounting staff has a significant head start since they are already working with real-time reconciled data from across your company. Where possible,period-end tasks are automated or automatically routed to the responsible employee for execution.