What is 'restatement' in SAP SRD-FIN-ACC - FIN-Financial Accounting?

restatement - Overview

• Component: SRD-FIN-ACC

• Component Name: FIN-Financial Accounting

• Description: A change to an amount or balance on a financial statement after a review of the accounts.

restatement - Details

• 
  Key Concepts: 
  Restatement is a process in SAP Financial Accounting (FI) that allows users to correct errors in previously posted documents. It is used to correct errors in documents that have already been posted, such as incorrect amounts, incorrect accounts, or incorrect document dates. Restatement can also be used to correct errors in documents that have already been cleared. 
  
  How to use it: 
  To restate a document, the user must first select the document they wish to restate. The user can then enter the new data for the document and post it. The system will then create a new document with the corrected data and post it to the same accounts as the original document. The original document will be marked as “restated” and will no longer be visible in the system. 
  
  Tips & Tricks: 
  When restating a document, it is important to make sure that all of the data entered is correct. If any of the data is incorrect, it could lead to further errors in the system. It is also important to make sure that all of the accounts affected by the restatement are correctly updated. 
  
  Related Information: 
  For more information on restatement in SAP Financial Accounting (FI), please refer to SAP Help documentation or contact your local SAP support team.