One solution for e-invoicing and tax reporting for SAP
23 February 2022
In this blog, we explain how your tax and finance teams can benefit from the new SAP solution that covers management of electronic business documents and periodic statutory reporting in S/4HANA.
SAP Document and Reporting Compliance is a new reporting solution that combines SAP Document Compliance and SAP solutions for Advanced Compliance Reporting in a single product in S/4HANA On Premise and Cloud editions. It acts as a single hub to process electronic business documents (including e-invoices), manage real-time and periodic statutory reports to be sent to tax authorities as well as work with ad hoc internal reports that support tax compliance processes in your organisation.
For your organisation, SAP Document and Reporting Compliance can be a key to successful transition to continuous transaction controls imposed by national tax administrations while standardising your compliance processes worldwide.
What are key reasons for you to consider SAP Document and Reporting Compliance?
Standardised data input. Statutory reporting is generated based on the electronic documents and financial/logistic documents managed in the same solution, ensuring timely data transmission and reducing the risk of manual input errors.
Global holistic view. Fiori app experience supports smooth configuration and data review, tailored to the needs of users in different jurisdictions.
The ability to streamline and standardise compliance operations worldwide, as well as increasing the efficiency of compliance processes.
Unified & flexible end user experience. Your expert teams can easily manage complex end-to-end reporting processes (from consistency checks to clearing tax liability) inside the browser, with the help of a centralised dashboard.
Flexibility. It is easy to create ad hoc reports based on easily customisable data sources, as well as adapt existing reports to reflect new legal changes. Report management happens directly from the browser. Business controllers can also handle manual adjustments inside the solution.
Direct filing. In certain jurisdictions, you are also able to submit the electronic reports through the government e-filing interfaces directly from SAP Document and Reporting Compliance.
How to get started with SAP Document and Reporting Compliance?
Plan your data architecture. It is important to consider the scope of data that will flow to SAP Document and Reporting Compliance and identify the approach to financial data that should be gathered from other data sources.
Plan Go-Live strategy. It is important to identify the jurisdictions that could start using Document and Reporting Compliance first and later act as solution champions. In the long run, SAP is planning to replace the legacy reports (such as RFUMSV00 VAT Report) with SAP Document and Reporting Compliance statutory reports.
Define the user support model. Identify the solution champions and key points of contact of systems integrated with SAP Document and Reporting Compliance as well as plan role-specific user training.
Our PwC experts can support you in the as-is analysis as well as requirements gathering (during S/4HANA implementation project or after), as well as help you to ensure the smooth implementation journey through coordinating testing and user training.
