What is reporting? Reporting is the analysis or slicing and dicing of business data to identify key performance indicators. These key indicators are used to navigate your business through the ever-changing challenges it encounters during operation.
The true value of a system, such as SAP Business ONE, can be evaluated when it comes to reporting against the data that was collected during its operation. Remember the settings we discussed in the Financials section, such as the Chart of Accounts settings? This was the financial skeleton that we established, which will eventually hold all of the financial data. This system has to comply with the local legal requirements and it uses the so-called double-entry bookkeeping system. In this system, each transaction is represented by a monetary value associated with a credit and a debit that are of equal value.
The accounting skeleton collects all of the relevant data based on the transactions entered in the system with the underlying...