Financial Statement Version configuration in SAP
- Musaif Ahmad
- Apr 22, 2024
- 2 min read
Financial statement versions helps to group all the related accounts to get the Balance sheet and Income statement for the purpose of reporting. SAP systems uses the financial statement version (FSV) that assigned to the company code when creating the balance sheet and P&L reports.
You can maintain financial statement versions as per organization requirements. SAP systems has come with standard financial statement version for all countries. So you can use those standard version if your business requirements are limited or you can create new FSV as per business requirements.
The following SAP FICO training tutorials guides how to maintain financial statement versions in SAP Fico step by step. You can maintain the financial statement versions by using the following navigation method.
Simg>> Financial Accounting >> General Ledger Accounting >> Business Transactions >> Closing >> Document >> Define Financial Statement Versions.
What are the configuration to be done before creating Financial Statement Versions
Chart of Accounts (COA)
General Ledger Accounts
Financial Statement Version configuration Steps
Step 1:
Enter transaction code “OB58" and press enter.
Step 2:
On change view “Financial Statement Versions” Overview screen, a list of standard versions are displayed. Here you can create new versions by copying from existing standard version or creating new version with your own settings.
Click on “New entries” to maintain new FSV.
Step 3:
On new entries screen, update the following details.
Fin. Stmt.Version:
1. Enter the new four digits key that identifies the financial statement versions in SAP.
Name:
1. Update the descriptive name of the FSV.
Maint. language: –
1. Update the language key, in which language your financial statement to be maintain.
Item Keys Auto:
1. Item keys are linked to financial statement items in the FSV. This indicator determines the item keys to be assign automatically or manually. Its recommended to to check this option so that item keys are assign automatically.
Chart of Accounts:
1. Enter the COA that you want tag to financial statement version.
Group Account number:
1. Select this indicator to assign account number from the group char of accounts. This configuration is valid only if we are using consolidation functionality.
Fun.area.perm.:
1. Select this indicator to use the functional area organizational elements. It helps to maintain alternative group costs.
Step 4:
Click on “Fin.statement items” to configure the financial statement items.
On create items, add all the asset items for commercial balance sheet(here we are maintaining item for asset). Press enter to continue.
Go to Transaction Code F.01 to View Financial Statement :
Enter Chart of Account, Company Code, Ledger , FS version, Reporting Year & Period :
Execute -
This is a very clear and helpful overview of configuring financial statement versions in SAP. Understanding how to set up FSVs correctly is crucial for accurate reporting and compliance, and your breakdown makes it much easier for users to follow. I especially appreciate the practical tips on customization and structure—it really helps simplify what can otherwise be a complex process. Proper configuration like this is just as important in fields like a fintech app development company, where accuracy and clear financial data are essential for success.
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