SAP FICO stands for (Financial Accounting and Controlling), SAP Financial Accounting and Controlling module can be integrated with all other SAP modules include Material Management, Sales and distribution, Production planning, Human resource Management, Material Management etc.
The SAP FI Module has the capability of meeting all the accounting and financial needs of an organization. It is within this module that Financial Managers as well as other Managers within your business can review the financial position of the company in real time as compared to legacy systems which often times require overnight updates before financial statements can be generated and run for management review.
The real-time functionality of the SAP modules allows for better decision making and strategic planning. The FI (Financial Accounting) Module integrates with other SAP Modules such as MM (Materials Management), PP (Production Planning), SD (Sales and Distribution), PM (Plant Maintenance), and PS (Project Systems).
The FI Module also integrates with HR (Human Resources) which includes PM (Personnel Management), Time Management, Travel Management, Payroll. Document transactions occurring within the specific modules generate account postings via account determination tables.
SAP FICO Financial Accounting and Controlling Module is a combination of two ERP modules, i.e., Finance Accounting (FI) and Controlling (CO) and this FICO module is used in financial fields to generate analytical reports.
This Tutorial for beginners explains what SAP FICO. This Online Tutorial gives brief understanding of SAP Financial Accounting and Controlling module concepts and with examples,
IMG⇒ Controlling⇒ Cost Element Accounting⇒Reconciliation ledger⇒Activate/Deactivate Reconciliation Ledger
Double Click on “Activate Reconciliation Ledger”
T-Code: KALA
Press “Enter”
For “Deactivate Reconciliation … Read More
In the SAP System, every document is assigned a number that identifies it uniquely within a fiscal year and company code.
There are two types of number assignment:
External (by the user)- Need Auto generated Number confirmed by VR.
The … Read More
SAP Credit memos are used to correct a vendor invoice. Once the invoice and the credit memo difference is posted in SAP, any open items left in the invoice, credit memo and payment can be cleared. To take an example, … Read More
Down payment means advance paid to Vendor. These advances may be paid to Vendors for
Purchase of goods from Vendor
Taking services from Vendor
Advance to Employees
Payment to statutory Authorities
Payment of security Deposit
Advance payment to employees as … Read More
1. Process Depreciation Run
Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Depreciation run -> Execute – AFAB
2. Process Investment Grant
Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> … Read More
Credit memo in SAP are used to correct a vendor invoice. Once the invoice and the credit memo difference is posted in SAP, any open items left in the invoice, credit memo and payment can be cleared. To take an … Read More
To enter any transaction data in sap – CO, we need to maintain versions. Version stores your data into what type of data we entering whether Planned Or Actual. The most suitable version for any company is Version 0, which … Read More