What is financial statement version in SAP FI - Financial Accounting?

SAP Term: financial statement version

• Component: FI

• Component Name: Financial Accounting

• Description: A hierarchical structure of G/L accounts. The structure can be based on specific legal requirements for financial statements. It can also be custom-defined for other purposes as needed.

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• Key Concepts: 
  Financial statement version is a feature in SAP Financial Accounting (FI) that allows users to create multiple versions of financial statements. This feature enables users to compare different versions of the same financial statement, such as a budgeted version and an actual version. It also allows users to create different versions of the same financial statement for different reporting periods. 
  
  How to use it: 
  To use the financial statement version feature, users must first create a financial statement variant. This variant contains the settings for the financial statement, such as the selection criteria and layout. Once the variant is created, users can create multiple versions of the same financial statement by assigning different selection criteria and layout settings to each version. 
  
  Tips & Tricks: 
  When creating a financial statement variant, it is important to ensure that all necessary fields are included in the selection criteria. This will ensure that all relevant data is included in the financial statement. Additionally, it is important to ensure that all versions of the financial statement have unique names so that they can be easily identified. 
  
  Related Information: 
  For more information on how to use the financial statement version feature in SAP Financial Accounting (FI), please refer to SAP Help documentation. Additionally, there are many online tutorials available that provide step-by-step instructions on how to use this feature.