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How SAP Financials Can Help You Avoid Mistakes

by Dave Hannon

July 22, 2011

By Dave Hannon

@Daveatwispubs 

We all make minor mistakes in our daily work. We spell a word incorrectly. We forget to copy a contact on an email. We input a figure wrong. It happens, even within the SAP environment. Thankfully, the IT whizzes among us are always finding new ways to use IT to eliminate or minimize the risk of human error. We have spell-check to avoid spelling mistakes. We have auto-fill to make sure we spell email addresses correctly. We even have software to help edit and fix minor slip-ups in podcasts (shhh!).

In a recent interview, SAP expert Paul Ovigele provided me with a number of tips and workarounds you can use to leverage SAP’s functionality to help minimize errors in the financials space. Ovigele has so many tips, he wrote a book called 100 Things You Should Know About Financial Accounting in SAP.

For example, when a purchasing professional is asked to manually input a lengthy or complicated general ledger account number that has no correlation to the product every time they issue a purchase order, there are bound to be some mistakes. The finance team is then forced to make journal entries at month-end to correct those mistakes.

As Ovigele explains in our interview (available below as a podcast), there is a workaround that involves creating material groups that have simple, product-related titles like “office supplies” or “pallets” that a purchaser can select from a menu. That selection will then attach that purchase to the correct general ledger account behind the scen es.

“This is something that sounds very simple, but a lot of companies still have a problem with it,” says Ovigele. Take a listen to the podcast to hear more of these tips.

Then, to ask Ovigele specific questions about SAP Financials, you can attend a live Q&A on the Insider Learning Network on Thursday, July 28 at 12:30 p.m. Eastern.

Register for the live Q&A "Technical Tips for SAP Financials" here.

Now if only one of you technology whizzes would develop a solution to help a guy with a heavy Boston accent pronounce names like “Ovigele” correctly!

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