Sap Fico

By Author: naresh
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Features
SAP Financial Accounting (FI) is the core module than manages all financial transactions, for internal as well as external auditing purposes. It's core components are General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA)
Advantages
SAP Financial Accounting (FI) is the core module than manages all financial transactions, for internal as well as external auditing purposes. It’s core components are General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA).
SAP Financial Accounting (FI) also includes Bank Accounting, Funds Management, Legal Consolidations, Special Purpose Ledger, Travel Management etc. Let’s take a look at the major components.
• The Accounts Receivable records maintains and manages all transactions with customers and clients. This specially tailored Accounts Receivable course can help you learn how to manage incoming cash flows with SAP FICO
• The Account Payables record tracks and manages all money payable to vendors or ...
... suppliers. You may want to check out this Accounts Payables course to learn more details about how to manage this.
• The General Ledger Accounting enables a real-time reconciliation between financial accounting and management accounting thereby paving the way for parallel accounting concepts in SAP.
• The SAP FI module allows for real-time financial processing on the basis of which you can derive data for reporting. The FI module is usually integrated with modules such as Material Management, Sales and Distribution, Human Resources, Production Planning etc. among others
Career
SAP is one of the largest providers of enterprise software application towards better enterprise resource planning. SAP stands for Systems, Applications, and Products in Data Processing. Back in 1972, SAP was founded launching business solutions that help organize processes in enterprises. Over the years, different modules in SAP were developed for different processes. SAP Finance and Controlling (FICO) is one of the most widely used SAP modules. SAP FICO module includes SAP FI configuration, SAP CO configuration, SAP FI user and SAP CO user. Anyone looking forward to begin their career as an SAP FICO consultant needs to build a strong base covering all these aspects of SAP FI module and SAP CO module. Let’s have an overview of SAP FI and SAP CO module.