Discover SAP's newest financial enhancements together with the new legal requirements!

Improve your daily, monthly and yearly closing process by installing the new SAP CLOSING COCKPIT functionality. It's a set of transaction codes that allow the creation, execution and basic monitoring of a schedule of SAP activities by setting sequences, timings and people responsible for each of the activities. These tasks are executed via the cockpit so all tasks can be monitored for completion. All SAP modules can be used by the closing cockpit, so you get a fully integrated closing process. For more information, download the CLOSING COCKPIT PACKAGE (PDF).

After a slow start, Financial institutions are steadily catching up and will progressively restrict the use of CODA to its version 2.1. By the 1st of November 2009, this version wil be mandatory to all user of the ISABEL network.

As of July 2009, companies will be forced to submit their EU-Sales List and Annual Sales List electronically. SAP provides new XML listing features to help you cope with these legal issues and eases your tax declaration process by providing new XML formats for fiches 281.50 and 281.93.

On top of this some legal changes are to take effect in the coming months.

Early next year, the processing of tax on sales and purchases within Europe as well as the procedure for VAT-refunding will be affected by the enforcement of EU directive 2008/8 and 2008/9. SAP anticipated these changes. The VAT Package will be soon proposed including new reporting of EU-sales related to services and adapted VAT declaration files. Legal requirements effective as of the 1st of January!

Finally the Single European Payement Area will be fully operational by the 1st January of 2011. The new Credit Transfert functionalities may already be used whereas the new format for Direct Debits will be allowed as of the 1st of November 2009. The SAP SEPA Package including preparing the transition to the new European regulation is available today.

Download our Accounting Solution Package (PDF)