SAP FICO has emerged as a popular tool for businesses and a popular career path for those with Finance and Accounting background. From enabling efficient management of financial data to tracking business transactions to generating reports of finances, SAP FICO as a SAP ERP module has enabled business organizations to be more productive and efficient. SAP FICO has enabled businesses to efficiently handle large numbers of financial data and gain real-time insights into the organization’s financial performance. Hence, SAP FICO expert professionals are a much sought-after talent by businesses. The need for an expert professional who can efficiently integrate SAP FICO and other technologies is increasingly growing, making SAP FICO a terrific career path. To gain a thorough and complete knowledge of what is SAP FICO all about in a comprehensive manner; let us explore the nuances of SAP FICO in this blog which will serve as a guide to learning in-depth about SAP FICO.
What is SAP FICO?
SAP FICO – Finance Accounting and Controlling is a critical functional component of the SAP ERP. It is a module that aids organizations and businesses in managing financial data and monitoring their financial transactions. With SAP FICO, businesses can easily store and maintain their financial data. Businesses are empowered to carry out effective financial data management and generate various statements of analysis and reports. SAP FICO also aid in developing effective business plans and decision-making.
SAP FICO
- Online
SAP FICO
In this course, you will learn how to:
- Configure the most important SAP FICO functionalities.
- Process most of the FINANCE AND ACCOUNTING transactions.
- Explain to others how FICO features and functionalities works.
Prerequisites
Basic understanding of ERP, CRM concepts OR Supply chain business processess
SAP FICO
Course Outline
INTRODUCTION TO SAP ERP
- Introduction to ERP, Advantages of SAP over other ERP Packages
- Introduction to SAP R/3 FICO
- FINANCIAL ACCOUNTING BASIC SETTINGS
- Definition of company
- Definition of company code
- Assignment of company to company code
- Definition of business area
- Definition of fiscal year variant
- Assignment of fiscal year variant to company code
- Definition of posting period variant
- Assignment of posting period variant to company code
- Open and close posting period
- Defining document type & number ranges
- Maintenance of field status variants
- Assignment of field status variant to company code
- Definition of tolerance groups for GL accounts
- Definition of tolerance groups for employees
- Assignment of tolerance groups to users
- Taxes on Sales & Purchases (input & output)
- Creation of chart of Accounts
- Defining Accounts Groups
- Defining Retained Earnings Account.
GENERAL LEDGER ACCOUNTING
- Creation of General Ledger Master (with and with out reference)
- Display/Change/Block/Unblock of general ledger master
- Document Entry posting normal postings and posting with reference
- Display and change of documents
- Display of GL balances
- Display GL account line items
- Parked documents
- Hold documents
- Creation of Sample Document and postings with sample documents
- Defining recurring entry document and postings with recurring doc.
- Creation of account assignment model and posting
- Configuration of line layouts for display of GL line items
- Reversal of individual documents, mass reversal , reversal of cleared items and reversal of accrual and deferral documents
- Defining Exchange Rate types and Translation ratios
- Define Exchange rates & posting of foreign currency transactions
- Interest calculations on term loans
- Accrual and Deferral documents
ACCOUNTS PAYABLE
- Creation of vendor account groups
- creation of number ranges for vendor master records
- assignment of number ranges to vendor account groups
- Creation of tolerance group for venders
- Creation of vendor master (display/change/block/unblock of vender master)
- Posting of vendor transactions (invoice posting, payment posting, credit memo)
- Settings for advance payments to parties (down payment) and clearing of down payment against
- invoices (special GL transactions)
- Posting of partial Payment & Residual Payment
- Creation of payment terms,
- Creation of house banks and account ids.
- Creation of check lots and maintenance of check register
- display check register
- cancellation of un issued checks
- Creation of void reasons
- cancellation of issued checks
- posting of purchase returns
- Configuration of automatic payment program
- Payment to vendors through APP
- Defining correspondence & party statement of accounts
ACCOUNTS RECEIVABLE
- Creation of customer account groups
- creation of number ranges for customer master records
- assignment of number ranges for customer account groups
- Creation of tolerance group for customers
- Creation of customer master (display/change/block/unblock of vender master)
- Posting of customer transactions (sales invoice posting, payment posting, debit memo)
- Settings for advance payment from parties (down payment)
- Configuration of settings for dunning
- generating the dunning letters
- defining correspondence and party statement of accounts
- Bills of exchange
- posting of sales returns
ASSET ACCOUNTING
- Defining chart of depreciation
- creation of 0% tax codes for sales and purchased
- assignment of chart of depreciation to company code
- Defining account determination
- definition of screen lay out rules
- definition of number ranges for asset classes
- Integration with General Ledger & Posting rules
- Defining Depreciation key
- definition of multilevel methods
- definition of period control methods
- creation of main asset master records
- creation of sub asset master records
- Acquisition of fixed assets
- sale of fixed assets
- transfer of assets
- Scrapping of assets,
- Depreciation run
- Line item Settlement of assets under construction of capital work in progress
- CONTROLLING
- BASIC SETTINGS FOR CONTROLLING
- Defining Controlling Area
- Defining Number ranges for Controlling Area
- Maintain Planning Versions
- COST ELEMENT ACCOUNTING
- creation of primary cost elements from financial accounting area
- creation of primary cost elements from controlling area
- display of cost element master records
- change cost element master records
- primary cost element categories
- secondary cost element categories
- default account assignments
- COST CENTER ACCOUNTING
- Defining Cost Center Standard Hierarchy
- Creation of Cost Centers and cost center groups
- display cost center master records
- change cost center master records
- creation of cost center groups
- posting to cost centers
- reposting of co line items
- Repost of Costs
- planning for cost centers
- Overhead Calculation
- creation of secondary cost element master records
- Creation and Execution of Distribution Cycle
- creation and execution of assessment cycles
- cost center reports