Contract Accounting in the Cloud

The SAP S/4HANA Cloud for Contract Accounting and Invoicing supports a fully integrated Consume-to-Cash process.

This training covers in various units the part Contract Accounting in the Cloud:

• Unit 02 covers the master data.
• Unit 07 gives an overview of contract accounting in the cloud.
• Unit 08 covers the payment processing.
• Unit 09 covers the open item and collection management.
• Unit 10 covers the closing activities and the general the ledger transfer.

Contract Accounting – Key Capabilities

• Document Structure enables Storage Space Optimization.
• Document Posting on Individual Contract Account.
• Summarized Postings Transfer to General Ledger.
• Machine Learning
• Mass Activities

Contract accounting has the typical functions of a receivables management system, such as receivables posting, payments posting and dunning execution. The typical document is the receivables document which is posted by the invoicing process with reference to individual contract accounts.

Contract accounting is a subledger that is designed for processing large document volumes. Therefore, contract accounting provides mass activities such as payment run, dunning run, and correspondence run. The contract accounting document has an optimized structure for storage space and is posted on the individual contract account level.

Contract accounting is integrated into the general ledger of SAP S/4HANA Finance to fulfill the legal requirements of accounting and revenue recognition. The integration is realized by transferring a reconciliation key with summarized postings to the general ledger.

Contract accounting uses intelligent technologies such as machine learning to match incoming payments.

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