What's New in SAP S/4HANA 2023 FPS01 for RE-FX and FI/CO

SAP's 2023 FPS01 On-Premise release introduces significant updates that enhance usability, data management and compliance in RE-FX and FI/CO. Stay on board if you are curious! At vAIsko, we’ve broken it down to help you connect the dots — from what is new, to why it matters, to how it applies in real-world finance and real estate scenarios.

📲 New Fiori Apps for Real Estate: Manage Usable Objects & Manage Rentable Objects

SAP brings in two powerful Fiori apps for RE-FX users working on lease-in/lease-out scenarios. These apps modernize the way you handle real estate master data and help streamline operations — especially in large, multi-property environments.

Manage Usable Objects lets you create and maintain the functional units in a property (e.g., individual office spaces, apartments, or retail spaces). Whether you're onboarding a newly acquired building or expanding a commercial site, creating usable units is now simplified and accessible from any device, which definitely can save you time. You can now also keep your master data clean by updating sizes, categories and status directly in the app with less back-office transactions. With Usable Objects, integration with contracts is much easier, as the ones created in the app can be quickly linked to lease contracts, accelerating the setup process.

Manage Rentable Objects, on the other hand,  is tailored to handle the commercially leasable parts of your property portfolio. You can now view, create or modify rentable units with attributes like availability, cost center allocation and occupancy history. The app allows you to quickly identify vacant units and link them to incoming lease requests. This surely makes it easy on your real estate teams to access property and rental data on-site. Through their mobile access, no more waiting on backend teams to update information. 

In traditional SAP RE-FX implementations, managing object data was often buried in SAP GUI and required skilled users. With these apps:

• You allow non-technical users (e.g., real estate managers, facility coordinators) to manage object data directly.
• You improve data quality by eliminating back-and-forth between departments.
• You speed up the lease lifecycle - from property setup to contract creation and reporting.

🔄 Improved Period-End Closing Processes

The Allow Posting to the Previous Period app for FI/CO, has been updated to enable background processing, facilitating smoother period-end closings. You can now schedule the period-opening task as a background job, allowing the system to automatically open prior periods for posting without manual intervention.Background processing minimizes system downtime and reduces the risk of timing conflicts during high-traffic periods like month-end, quarter-end or year-end. It is a pure game changer for finance teams working under time pressure. 

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Use this app when you need to: 

• Post late invoices or accruals from the previous month.
• Make adjustments after discovery of prior-period errors.
• Support entities that submit their data late due to external system delays.

📎 Enhanced Attachment Services

SAP has introduced a new OData API for attachments, which lets you attach supporting documents — like invoices, receipts, contracts, or approval forms — directly to line items of business transactions. In the past, attaching documentation was often limited, inconsistent or had to be done manually in the backend. Now, attachments are easily accessible from the transaction screen. No more digging through shared drives or emailing PDFs to accounting! What a relief!