What is version in SAP FIN-SEM-BCS - Business Consolidation?

SAP Term: version

• Component: FIN-SEM-BCS

• Component Name: Business Consolidation

• Description: Enables the parallel consolidation with different: Data categories actual, plan, target, etc. Accounting principles e.g., US GAAP, IAS, German HGB Valuations Simulations A consolidation area can have one or more characteristics with the role "version". Examples: You use one characteristic with the role "version": Here the version separates the different accounting principles and also the data categories. You use two characteristics: one has the role "version" for the data categories Actual, Plan, and one has the role "accounting principle/valuation". A version is characterized by a combination of characteristics. Special versions are assigned to each combination of version characteristics. SAP delivers special versions, for example, for data entry and currency translation methods. You can use special versions to define different versions without causing redundancy -- they merely differ in one or several areas, but otherwise reference the same special versions.

Smart SAP Assistant

• Key Concepts: 
  A version in SAP is a snapshot of a particular configuration or set of data at a certain point in time. In the context of FIN-SEM-BCS Business Consolidation, a version is a set of data that is used to create a consolidated financial statement. This version can be used to compare different financial statements over time and to analyze the performance of the company. 
  
  How to use it: 
  In order to use versions in FIN-SEM-BCS Business Consolidation, you must first create a version. This can be done by selecting the “Create Version” option from the menu. Once you have created the version, you can then enter the data that you want to include in the consolidated financial statement. You can also select which accounts and entities should be included in the version. 
  
  Tips & Tricks: 
  When creating a version, it is important to make sure that all of the data is accurate and up-to-date. It is also important to make sure that all of the accounts and entities that are included in the version are relevant to the consolidated financial statement. Additionally, it is important to save multiple versions so that you can compare different versions over time. 
  
  Related Information: 
  For more information about versions in FIN-SEM-BCS Business Consolidation, please refer to SAP’s official documentation on versions. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to create and manage versions in FIN-SEM-BCS Business Consolidation.