Origin of SAP accounting software

What is SAP?

SAP is the acronym for System Process Application in the world of data processing. SAP is a German company and is the fourth largest software company in the world. It is an enterprise resource planning software. The company was formed by five former employees of IBM. Their aim in forming the company was to provide data processing on a real-time basis. They provide one platform for all businesses to take place – from financial to operational functions like logistics. SAP is a suite of many software packages. The company SAP AG headquartered in Walldorf in Germany has created many packages to provide all-round solution.

SAP has created many ERP software suites. The first edition of the software was called R/1 system. This stood for real time data processing. Since the first version there has been several versions of this software. The SAP FICO is the SAP accounting software. This software stores and controls the data on finance. This software not only records but also collects and processes financial transactions. This is done on a real-time basis to give inputs for reporting purposes. This SAP accounting software helps with all sorts of financial activity .

SAP accounting software

The SAP financial accounting software has many modules that take care of the following functionalities:

* Accounts Receivable

* General Ledger Accounting

* Accounts Payable

* Bank Accounting

* Asset Accounting

* Travel Management

* Consolidation

* Special Purpose Ledger

* Cost Center Accounting

* Internal Orders

* Profitability Analysis

* Cost Element Accounting

* Product Cost Controlling

* Profit Center Accounting

With these functionalities being taken care of, the company can function smoothly without having to worry about their financial management.

SAP still remains to be one of the largest software companies in the world and serves around eighty thousand customers over one hundred and twenty countries. SAP provides solutions to its customers for all sorts of business issues. Their customers range from small to medium to large sized companies.

Their solutions involve both localization, internationalization and translation of processes. The international aspect of SAP includes support in multiple languages, different currencies and calendars and also multiple time zones. But for the solution to be viable there has to be localization of the solutions – to understand the local content of the business and provide solutions accordingly. Finally, translation would involve translating the solution into the local language and help by getting rid of language barriers. This is the unique approach of SAP to provide solutions.

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