What is reporting year in SAP FS-SR - Regulatory reporting for insurance companies?

SAP Term: reporting year

• Component: FS-SR

• Component Name: Regulatory reporting for insurance companies

• Description: One of the additional account assignments for insurance; designates the year in which a claim is reported to an insurance company. The year is defined on a customer-specific basis. It can be a calendar year or a fiscal year.

Smart SAP Assistant

• Key Concepts: 
  Reporting year is a term used in the FS-SR Regulatory Reporting for Insurance Companies component of SAP. It is a period of time that is used to define the scope of a report. The reporting year is typically the same as the calendar year, but can be adjusted to fit the needs of the company. 
  
  How to use it: 
  The reporting year can be set up in the SAP system by going to the FS-SR Regulatory Reporting for Insurance Companies component and selecting the “Reporting Year” option. From there, you can enter the start and end dates for the reporting year. Once this is done, all reports generated within that period will use that reporting year. 
  
  Tips & Tricks: 
  It is important to remember that the reporting year does not have to be the same as the calendar year. If your company has different reporting requirements, you can adjust the reporting year accordingly. 
  
  Related Information: 
  For more information on setting up a reporting year in SAP, please refer to the SAP Help documentation on FS-SR Regulatory Reporting for Insurance Companies.